Product — Total Cost of Revenue
Fortinet Product — Total Cost of Revenue decreased by 9.0% to $208.30M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 39.0%, from $149.90M to $208.30M. Over 4 years (FY 2021 to FY 2025), Product — Total Cost of Revenue shows an upward trend with a 10.4% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase relative to revenue may signal supply chain inefficiencies or rising component costs, while a decrease suggests improved manufacturing margins.
Detailed definition
This metric captures the direct costs associated with manufacturing, shipping, and fulfilling hardware products and perp...
Peer comparison
Comparable to 'Cost of Product Revenue' in hardware-centric technology firms, often analyzed alongside supply chain benchmarks.
ftnt_segment_product_total_cost_of_revenueHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $115.60M | $134.30M | $146.50M | $161.00M | $155.20M | $185.20M | $189.90M | $193.60M | $174.50M | $198.30M | $197.20M | $182.80M | $155.10M | $136.10M | $178.00M | $149.90M | $165.90M | $180.70M | $228.90M | $208.30M |
| QoQ Change | — | +16.2% | +9.1% | +9.9% | -3.6% | +19.3% | +2.5% | +1.9% | -9.9% | +13.6% | -0.6% | -7.3% | -15.2% | -12.3% | +30.8% | -15.8% | +10.7% | +8.9% | +26.7% | -9.0% |
| YoY Change | — | — | — | — | +34.3% | +37.9% | +29.6% | +20.2% | +12.4% | +7.1% | +3.8% | -5.6% | -11.1% | -31.4% | -9.7% | -18.0% | +7.0% | +32.8% | +28.6% | +39.0% |
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Frequently Asked Questions
- What is Fortinet's product — total cost of revenue?
- Fortinet (FTNT) reported product — total cost of revenue of $208.30M in Q1 2026.
- How has Fortinet's product — total cost of revenue changed year-over-year?
- Fortinet's product — total cost of revenue increased by 39.0% year-over-year, from $149.90M to $208.30M.
- What is the long-term trend for Fortinet's product — total cost of revenue?
- Over 4 years (2021 to 2025), Fortinet's product — total cost of revenue has grown at a 10.4% compound annual growth rate (CAGR), from $487.70M to $725.40M.
- What does product — total cost of revenue mean?
- The total direct costs incurred to manufacture and deliver physical products and software licenses.