Cybersecurity earnings season kicks off with beats from Fortinet, NetScout and Qualys – News

Cybersecurity companies Fortinet Inc., NetScout Systems Inc. and Qualys Inc. all reported earnings and revenue beats in their latest quarterly reports today as demand for cybersecurity services continues amid the continuing growth in artificial intelligence.

Fortinet

For its fiscal 2025 fourth quarter that ended on Dec. 31, Fortinet reported adjusted earnings per share of 81 cents, up from 74 cents per share in the same quarter of 2024, on revenue of $1.91 billion, up 15% year-over-year. Both figures were ahead of the 74 cents per share and revenue of $1.96 billion expected by analysts.

Through the quarter, Fortinet saw product revenue grow 20% year-over-year to $691 million and billings rose 18%, to $2.37 billion.

For the full year, Fortinet reported adjusted earnings of $2.76 per share, up from $2.37 per share in 2024, on revenue of $6.8 billion, up 14% year-over-year. Product revenue rose 16% year-over-year, to $2.22 billion and billings grew 16%, to $7.55 billion.

“We are pleased with our strong finish to the year, highlighted by an excellent fourth quarter driven by broad-based demand across our portfolio, which drove billings above the high end of our guidance,” founder and Chief Executive Ken Xie said in the company’s earnings release. “We continue to execute our strategy by accelerating our investments in high-growth Unified SASE and Security Operations markets, delivering strong momentum while further strengthening our Secure Networking leadership.”

For its fiscal 2026 first quarter, Fortinet expects adjusted earnings of 59 to 63 cents per share on revenue of $1.7 billion to $1.76 billion. For the full year, the company forecasts earnings of $2.94 to $3 per share and revenue of $7.5 billion to $7.7 billion. Analysts were expecting a full-year revenue outlook of $7.5 billion.

Fortinet’s stock rose about 2.5% in late trading.

NetScout

For its fiscal 2026 third quarter that ended on Dec. 31, NetScout reported adjusted earnings per share of $1, up from 94 cents per share in the same quarter of the previous year, on revenue of $250.7 million, down 0.5% year-over-year. Analysts had been expecting earnings of 86 cents and revenue of $233.7 million.

NetScout saw product revenue in the quarter of $121.7 million, down from $128.2 million in the same quarter of the previous year and service revenue of $129 million, up from $123.8 million a year prior.

“Our Q3 fiscal year 2026 revenue and earnings results were ahead of expectations,” CEO Anil Singhal said in the company’s earnings release. “This performance was enhanced by certain product orders and service renewals originally anticipated for the fourth quarter as customers utilized their calendar year-end budgets.”

For the full year, NetScout now expects to see adjusted earnings per share of $1.15 to $1.23 and revenue of $835 million to $870 million.

NetScout, which had announced earnings early today, saw shares fall a little under 5% on the day.

Qualys

For its fiscal 2025 fourth quarter, Qualys reported adjusted earnings per share of $1.87, up from $1.60 per share in the fourth quarter of 2024, on revenue of $175.3 million, up 10% year-over-year.

Rounding out the cybersecurity results hat trick, Qualys, like Fortinet and NetScout, also came in ahead of expectations, as analysts had been expecting earnings of $1.78 per share and revenue of $173.15 million.

For its full year, Qualys reported adjusted earnings of $7.07, up from $6.13 in 2024, on revenue of $669.1 million, up 10% year-over-year.

“We continued to execute well in Q4, demonstrated by another quarter of solid revenue growth and profitability,” Sumedh Thakar, Qualys’ president and CEO, said in the company’s earnings release. “Our pace of innovation and targeted investments are driving competitive differentiation, deeper Enterprise TruRisk Management adoption, broader engagements across large federal agencies, growing partner-led execution and early QFlex success.”

For its fiscal first quarter, Qualys expects to see adjusted earnings per share of $1.76 to $1.83 and revenue of $172.5 million to $174.5 million. For the full year 2026, the company is forecasting adjusted earnings of $7.17 to $7.45 per share and revenue of $717 million to $725 million.

The full-year outlook fell short at the midpoint of the $7.41 expected by analysts, but the revenue outlook at the midpoint was ahead of an expected $718.3 million.

Qualys’ shares fell a little under 3% in after-hours trading.

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