Fortinet (FTNT) 10-K Summaries & Annual Filing History
Review Fortinet, Inc. (FTNT) 10-K filings from 2023 through the latest annual report, including business, financial performance, risks, and liquidity.
Key takeaway
Year ended Dec 31, 2025 · FY2025 10-K
Fortinet filed its annual 10-K report for the most recent fiscal year. The filing provides an overview of the company's business, financial performance, risk factors, and liquidity.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$6.8B
Revenue reported for the fiscal year.
Operating income
$2.1B
Income from operations reported for the year.
Net income
$1.9B
Net income reported for the year.
Operating cash flow
$2.6B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2022 | $4.4B | +32.2% |
| Dec 31, 2023 | $5.3B | +20.1% |
| Dec 31, 2024 | $6B | +12.3% |
| Dec 31, 2025 | $6.8B | +14.2% |
Business overview
The company offers cybersecurity solutions, including FortiGuard security subscriptions and FortiCare technical support services. Revenue from these services is recognized ratably over the contract term, and deferred revenue represents a significant portion of future revenue.
Financial performance
Revenue increased compared to the prior year, and the company reported positive operating income, net income, and operating cash flow. The trend shows consistent revenue growth over recent periods.
Material risks
The filing includes a risk factors section, but the supplied context does not provide detailed descriptions of specific risks. Readers should refer to the full filing for a complete list.
Liquidity and capital
The company generated positive free cash flow and operating cash flow. Deferred revenue grew, indicating a strong backlog of future revenue to be recognized.
What to watch
Monitor the growth of deferred revenue, as it is a leading indicator of future revenue and cash flow.