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FTNT Revenue by Segments

Revenue by SegmentsRevenue by Segments

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In Q1'26, Fortinet's (FTNT) Product segment revenue reached $645.1M USD, while the Service segment contributed $1.2B USD, resulting in a combined total of approximately $1.845B USD. This marks a robust performance in Services, which continues to dominate the revenue mix, accounting for about 65% of the total. Over the period from Q2'23 to Q1'26, the Product segment exhibited volatility with an overall upward trend, fluctuating between $85.4M in Q3'25 and a peak of $1.165B in Q4'25, reflecting significant growth in later quarters despite earlier dips like $408.9M in Q1'24. The Service segment showed steady expansion from $820.2M in Q2'23 to $1.2B in Q1'26, with a notable surge to $2.248B in Q4'25, underscoring its role as the primary growth driver and highlighting a shift toward service-oriented revenue in FTNT's business model.