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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“We announced a strategic partnership with Fortinet, the global firewall market share leader by shipments. We're already seeing Fortinet take us into their accounts and we're doing the same.”
CrowdStrike frames a new go-to-market partnership with Fortinet, calling out Fortinet's firewall market leadership and mutual account referrals.
“Thousands of AWS customers are already taking advantage of Amazon Nova models' capabilities and price performance, including Palantir, SAP Densu Fortinet Trellix, and Robinhood, and we've just gotten started.”
Fortinet is named as an early adopter of Amazon's Nova foundation models on AWS.
“We also recently partnered with NVIDIA to leverage their BlueField-3 DPU to secure AI infrastructure.”
Fortinet partnered with NVIDIA to use its BlueField-3 DPU for securing AI infrastructure, reinforcing NVIDIA's data-center security ecosystem role.
“are these displacements of existing vendors, let's say, a customer has Zscaler or Palo Alto and you're displacing them?”
An analyst names Palo Alto as a SASE incumbent Fortinet is displacing; management confirms competitive displacement wins in SASE.
“are these displacements of existing vendors, let's say, a customer has Zscaler or Palo Alto and you're displacing them?”
An analyst asks whether Fortinet's SASE wins come from displacing incumbents like Zscaler; management confirms competitive displacement in SASE, a share-loss read-through for Zscaler.
“we are recently named a leader in the 2025 Gartner Magic Quadrant for SASE platform”
Fortinet cites Gartner's Magic Quadrant as the authoritative SASE-platform ranking, underscoring the continued industry influence of Gartner's research franchise.
“So I think we see opportunity with the Wiz Google development. I think that disrupts the market fairly significantly.”
Fortinet's COO said Google's acquisition of cloud-security company Wiz is significantly disrupting the CNAPP market, which Fortinet views as an opening for its own Lacework offering.
“That's a great acquisition technology for the DLP, not only enhance the SASE we had but also can be sold separately to enhance lot of big enterprise the data security, the data leakage side.”
Fortinet's CEO gave positive early feedback on the Next DLP acquisition, saying the data-loss-prevention technology both strengthens its SASE bundle and sells as a standalone data-security product to large enterprises.
“So, Ken, for you, so I believe some of the hyperscalers like Oracle, are big customers and partners with Fortinet. So just curious as you have Oracle and some of the other hyperscalers, building out new data centers, just curious to what extent Fortinet is involved in securing these.”
An analyst characterizes Oracle as one of the hyperscaler customers/partners of Fortinet as it builds out new data centers; Fortinet's CEO did not dispute this and discussed the related data-center security opportunity.
“In addition, we recently acquired Remini share of Linksys Leading provider of connectivity solution to expand our enterprise-grade security to employees working remotely home business, and consumers.”
Fortinet acquired the remaining share of Linksys (having held 51% for about three years), a leading consumer/SMB connectivity provider, to extend enterprise-grade security into home and remote-worker networking.
“We recently enhanced our secure portfolio by acquiring perception point. A leader in advanced email and collaboration security. These acquisitions strengthen our end-to-end cybersecurity by extending protection beyond email to the entire modern workspace.”
Fortinet acquired Perception Point, an advanced email and collaboration security vendor, extending Fortinet's protection beyond email into the broader modern workspace; the deal contributed to Q4 billings and modestly dented operating margin.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Gabriela Borges | Goldman Sachs | 9 (22%) |
| Tal Liani | Bank of America | 9 (22%) |
| Saket Kalia | Barclays | 9 (22%) |
| Shaul Eyal | TD Cowen | 8 (0%) |
| Brian Essex | JPMorgan | 8 (0%) |
| Junaid Siddiqui | Truist Securities | 7 (14%) |
| Robbie Owens | Piper Sandler | 6 (17%) |
| Fatima Boolani | Citigroup | 6 (17%) |
| Patrick Colville | Scotiabank | 5 (20%) |
| Shrenik Kothari | Robert W. Baird | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Goldman Sachs | 1 | 9 (22%) |
| Barclays | 1 | 9 (22%) |
| Bank of America | 1 | 9 (22%) |
| TD Cowen | 1 |
| 8 (0%) |
| JPMorgan | 1 | 8 (0%) |
| Truist Securities | 1 | 7 (14%) |
| Piper Sandler | 1 | 6 (17%) |
| Citigroup | 1 | 6 (17%) |
Fortinet closed FY2025 with Q4 revenue up 14.8% and billings growing 18% as broad-based enterprise momentum drove the strongest billings quarter of the year. Unified SASE billings grew 40% representing 27% of total billings, and the company achieved Rule of 45 for the sixth consecutive year with record operating margins. New FY2026 guidance introduced revenue of $7.5-$7.7 billion (12% growth) and EPS of $2.94-$3.00, earning a +1 for the forward-year introduction.
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 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
FTNT Fortinet | 10 | +20.1% | |
| ADBE Adobe Inc. | 9 | +12.7% | |
| AKAM Akamai Technologies | 6 | +5.8% | |
| CPAY Corpay | 8 | +25.4% | |
| CRWD CrowdStrike | 10 | +25.6% | |
| 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% | |
| MSFT Microsoft Corporation | 8 | +18.3% | |
| NET Cloudflare, Inc. | 10 | +33.5% | |
| ORCL Oracle Corporation | 9 | +20.6% | |
| PANW Palo Alto Networks | 9 | +31.1% | |
| PLTR Palantir Technologies | 10 | +84.7% | |
| SNPS Synopsys | 7 | +41.9% | |
| VRSN Verisign | 7 | +6.6% | |
| XYZ Block, Inc. | 8 | +4.9% | |
| ZS Zscaler | 9 | +25.4% |