Start 30 days free, no card. Full Pro access for a month, then decide. Start free
Loading
Start 30 days free, no card. Full Pro access for a month, then decide. Start free
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Saket Kalia | Barclays | 11 questions · 18% challenging |
| Gabriela Borges | Goldman Sachs | 10 questions · 30% challenging |
| Shaul Eyal | TD Cowen | 10 questions · 0% challenging |
| Tal Liani | Bank of America | 9 questions · 56% challenging |
| Fatima Boolani | Citigroup | 8 questions · 25% challenging |
| Junaid Siddiqui | Truist Securities | 8 questions · 25% challenging |
| Brian Essex | JPMorgan | 8 questions · 13% challenging |
| Robbie Owens | Piper Sandler | 6 questions · 17% challenging |
| Patrick Colville | Scotiabank | 5 questions · 60% challenging |
| Shrenik Kothari | Robert W. Baird | 5 questions · 0% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Barclays | 1 analyst | 11 questions · 18% challenging |
| Goldman Sachs | 1 analyst | 10 questions · 30% challenging |
| TD Cowen | 1 analyst | 10 questions · 0% challenging |
| Bank of America | 1 analyst | 9 questions · 56% challenging |
| Truist Securities | 1 analyst | 8 questions · 25% challenging |
| Citigroup | 1 analyst | 8 questions · 25% challenging |
| JPMorgan | 1 analyst | 8 questions · 13% challenging |
| Piper Sandler | 1 analyst | 6 questions · 17% challenging |
Fortinet delivered 20% revenue growth with EPS surging 29% as AI-driven security demand accelerated and OT security billings surged over 70%. Unified SASE billings grew 31% while total billings increased 31% to $2.09 billion, the strongest Q1 in company history. Management raised full-year FY2026 guidance across all top-line metrics including billings, revenue, and EPS, from $2.94-$3.00 to $3.10-$3.16.
Revenue Growth | Cloud & AI | Demand | Competitive Dynamics | Product Launch | Guidance Reliability | Innovation & R&D | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 4 | 4 | 4 | 4 | 2 | ||
| 2025Q1 | 4 | 4 | 7 | 3 | 3 | 2 | 1 | |
| 2025Q2 | 6 | 5 | 2 | 5 | 4 | 2 | 1 | 1 |
| 2025Q3 | 8 | 4 | 1 | 1 | 3 | 3 | 1 | 1 |
| 2025Q4 | 4 | 6 | 3 | 2 | 4 | 1 | 3 | 4 |
| 2026Q1 | 6 | 6 | 6 | 4 | 1 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 6 | 4 | 6 | 8 | 4 | 6 |
| Cloud & AI | 4 | 4 | 5 | 4 | 6 | 6 |
| Demand | 4 | 7 | 2 | 1 | 3 | 6 |
| Competitive Dynamics | 4 | 3 | 5 | 1 | 2 | 4 |
| Product Launch | 4 | 3 | 4 | 3 | 4 | |
| Guidance Reliability | 2 | 2 | 2 | 3 | 1 | 1 |
| Innovation & R&D | 1 | 1 | 1 | 3 | 3 | |
| Margin | 1 | 1 | 4 |
No 8-K events recorded for this window.
Calendar quarter Q1 2026Earnings call May 6, 2026
FY2026 Q1 in brief
Fortinet delivered 20% revenue growth with EPS surging 29% as AI-driven security demand accelerated and OT security billings surged over 70%.
Newest quarter FY2026 Q2 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Fortinet (FTNT), FY2026 Q1: 10/10. Scores: Fortinet’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: FTNT daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
What FTNT and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Fortinet talked about the opportunity they are seeing in SOFRAN and SASE.”
An analyst references Fortinet's commentary on the sovereign/SASE opportunity, framing Fortinet as a competitor in the data-localization and SASE market where Cloudflare also plays.
The table scrolls sideways. Swipe it, or select it and use the arrow keys.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.66B | +17.3% | $0.68 | +70.0% | 81.1% | 34.6% | 31.7% | $380M |
| FY2025 Q1 | $1.54B | +13.8% | $0.56 | +43.6% | 81.0% | 29.5% | 28.1% | $797M |
| FY2025 Q2 | $1.63B | +13.6% | $0.57 | +16.3% | 81.5% | 28.0% | 27.0% | $284M |
| FY2025 Q3 | $1.72B | +14.4% | $0.62 | -11.4% | 81.5% | 31.6% | 27.5% | $568M |
| FY2025 Q4 | $1.91B | +14.8% | $0.68 | 0.0% | 79.6% | 32.8% | 26.6% | $577M |
| FY2026 Q1Selected | $1.85B | +20.1% | $0.72 | +28.6% | 80.3% | 31.4% | 28.9% | $1.01B |
| FY2026 Q2 | $2.05B | +25.6% | $0.82 | +43.9% | 80.2% | 33.7% | 29.6% | $966M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
GAAP revenue YoY +20.1% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
“Check Point said their firewall growth decelerated and that the market is weaker.”
An analyst contrasted Check Point's decelerating firewall growth and weaker-market commentary with Fortinet's 32% secure-networking billings growth, implying Fortinet is taking share.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
FTNT Fortinet | 10 | +20.1% | |
| ADBE Adobe Inc. | 7 | +12.0% | |
| AKAM Akamai Technologies | 6 | +5.8% | |
| CPAY Corpay | 8 | +25.4% | |
| CRWD CrowdStrike | 9 | +23.3% | |
| CRWV CoreWeave, Inc. Class A Common Stock | 8 | +111.7% | |
| FFIV F5, Inc. | 8 | +11.0% | |
| GDDY GoDaddy | 7 | +6.1% | |
| GEN Gen Digital | 6 | +27.0% | |
| IOT Samsara Inc. | 10 | +28.3% | |
| MDB MongoDB, Inc. | 9 | +26.8% | |
| MSFT Microsoft Corporation | 9 | +18.3% | |
| NET Cloudflare, Inc. | 10 | +33.5% | |
| ORCL Oracle Corporation | 9 | +21.7% | |
| PANW Palo Alto Networks | 6 | +14.9% | |
| PATH UiPath Inc. | 9 | +13.6% | |
| PLTR Palantir Technologies | 10 | +84.7% | |
| SNPS Synopsys | 7 | +65.5% | |
| TWLO Twilio Inc. | 10 | +20.0% | |
| VRSN Verisign | 7 | +6.6% | |
| XYZ Block, Inc. | 8 | +4.9% | |
| ZS Zscaler | 9 | +25.9% |