Fortinet, Inc.
FTNTQ4 2025(FTNT Q3 FY2025)Estimated6% AI
AI Revenue %
6%
AI Fair Value
$2.0B
AI Revenue (Q)
$257.7M
Total Revenue (Q)
$4.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Fortinet Q3 calendar 2025 (mapped as Q3 FY2025). Total revenue $1,724.9M (Product $559.3M + Service $1,165.6M). 14.4% YoY revenue growth. Service revenue grew to $1,165.6M (67.6% of total). The filing maintains the same three-pillar language. No AI-specific revenue is disclosed. R&D spending increased to $202.4M (from $187.3M YoY), reflecting ongoing investment in AI capabilities. Modest increase to 6.0% reflecting growing customer adoption of FortiAI, AI-driven SecOps, and the maturation of Lacework AI cloud security integration. $103.5M estimated AI / $1,724.9M total = ~6.0%.
Analyzed by claude-opus-4-6
Quoted Figures
Product revenue $559.3M, Service revenue $1,165.6M, Total revenue $1,724.9M
10-Q Condensed Consolidated Statements of Income, Q3 2025
Research and development expense $202.4M (vs $187.3M prior year)
10-Q Condensed Consolidated Statements of Income
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