Fortinet, Inc.
FTNTQ3 2025(FTNT Q2 FY2025)Estimated5.5% AI
AI Revenue %
5.5%
AI Fair Value
$1.8B
AI Revenue (Q)
$153.3M
Total Revenue (Q)
$2.8B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Fortinet Q2 calendar 2025 (mapped as Q2 FY2025). Total revenue $1,630.0M (Product $508.9M + Service $1,121.1M). Strong 13.6% YoY revenue growth. Service revenue grew to $1,121.1M (68.8% of total). The filing structure is unchanged -- no AI-specific revenue breakout. Maintaining 5.5% estimate. Product revenue rebound ($508.9M vs $451.9M YoY) reflects FortiGate refresh cycle (including AI-enhanced next-gen firewalls), but these remain primarily network security appliances. $89.7M estimated AI / $1,630.0M total = ~5.5%.
Analyzed by claude-opus-4-6
Quoted Figures
Product revenue $508.9M, Service revenue $1,121.1M, Total revenue $1,630.0M
10-Q Condensed Consolidated Statements of Income, Q2 2025
fluctuations and changes in the mix of our sales from secure networking, unified SASE and security operations between products and services
10-Q Risk Factors
AI Products Identified (Ring 1)
FortiGuard AI-enhanced threat detectionFortiAI GenAI assistantAI-driven SecOpsLacework AI-powered cloud security
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
FortiGuard security subscriptionsFortiCare technical supportFortiGate firewall appliancesSASE offerings
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix