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Fortinet FTNT Q2 2025 earnings

Reported August 6, 2025 · After market close

Revenue$1.6BBeat by $4.9M
EPS$0.64Beat by $0.05
Revenue estimate$1.6B
EPS estimate$0.59

Next report

Oct 28, 2026 (In 3 weeks)
Revenue estimate$2.1B
EPS estimate$0.86

Financials

Q2 2025

Income statement

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Revenue$1.6B+13.6%
Gross profit$1.3B+13.4%
Operating income$458.0M+4.8%
Net income$440.1M+15.9%
EPS (diluted)$0.57+16.3%

Balance sheet

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Cash & equivalents$3.4B+52.9%
Total debt$1.1B+1.2%
Total equity$2.1B+615%
Total assets$10.6B+32.1%

Cash flow

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Operating cash flow$451.9M+32.1%
CapEx$167.8M+626%
Free cash flow$284.1M-10.9%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$79.92B+73.9%
Enterprise value$77.64B+73.2%
P/E41.2×+6.2×
P/S12.6×+4.3×

Profitability

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Gross margin81.3%+3.2pp
Operating margin30.9%+4.7pp
Net margin30.6%+6.9pp
FCF margin32.1%+3.7pp

Returns & leverage

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Return on equity165.2%-266pp
Debt / equity0.5×-3.2×
Current ratio1.3×0.0×

Segments

By product

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Security subscription$644.4M+15.3%
Technical support and other$476.7M+12.5%

By segment

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Reportable Segment$1.6B+13.6%

By geography

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Other Americas$185.8M+16.4%

FAQ

When did Fortinet report Q2 2025 earnings?
Fortinet (FTNT) reported Q2 2025 earnings on August 6, 2025 after market close.
What were Fortinet's Q2 2025 revenue and EPS?
Fortinet reported revenue of $1.6B and eps of $0.64 for Q2 2025.
Did Fortinet beat estimates in Q2 2025?
Revenue beat the consensus estimate of $1.6B by $4.9M. EPS beat the consensus estimate of $0.59 by $0.05.
How did Fortinet's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 13.6% from $1.4B a year earlier and eps grew 12.3% from $0.57.
Where can I find Fortinet's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001262039-25-000025) and the 10-Q periodic report (0001262039-25-000028) directly on SEC EDGAR. The filing index links above go to sec.gov.