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FTNT Current Contract Liabilities

Current Contract Liabilities

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As of Q4'25, FTNT's current contract liabilities stand at USD 3.64B, marking a significant decline from the previous quarter's USD 6.65B. This sharp drop contrasts with the steady growth observed in prior quarters, where liabilities consistently increased from USD 4.88B in Q1'23 to a peak of USD 6.65B in Q3'25. From Q1'23 to Q3'25, the chart shows a clear upward trend in current contract liabilities, with values rising each quarter and reaching their highest point in Q3'25. However, the abrupt decrease in Q4'25 represents a notable inflection point, suggesting a major shift in contract activity or recognition. This pattern indicates a period of sustained growth followed by a sudden contraction at the end of the period covered.