Fortinet vs Okta

10-Q Financial Filing Analysis for Fortinet (2026-10-30)

Fortinet, Inc. reported its financial results for the third quarter ended September 30, 2026, delivering consolidated total revenue of $2.08 billion, representing a 20% year-over-year increase compared to $1.72 billion in the prior-year period. Revenue expansion was led by strong Product revenue acceleration of 37% to $765.0 million, driven by higher average selling prices, customer demand for high-performance secure networking hardware, and AI infrastructure deployments, while Service revenue advanced 13% to $1.31 billion. Operating income grew 29% to $704.3 million, yielding an operating margin of 33.9%, up from 31.7% in Q3 2025 due to operating leverage as top-line growth outpaced operating expense growth. Net income rose 34% to $635.5 million ($0.86 per diluted share). Free cash flow reached $864.8 million for the quarter and $2.84 billion for the first nine months. The company experienced slight gross margin compression of 1.8 percentage points to 79.0% due to a higher revenue mix of hardware products and elevated memory chip costs. Fortinet continued its capital allocation strategy, repurchasing $972.8 million of common stock through the first nine months and approving a subsequent $1.23 billion authorization increase in October 2026, bringing total authorization to $11.48 billion through February 2028.

• Q3 2026 total revenue reached $2,078.4 million (+20% YoY), with Product revenue rising 37% to $765.0 million and Service revenue rising 13% to $1,313.4 million.
• Operating income for the quarter expanded 29% YoY to $704.3 million (33.9% operating margin), producing net income of $635.5 million and diluted EPS of $0.86.
• Total deferred revenue stood at $7,934.4 million as of September 30, 2026, while total non-GAAP billings grew 29% YoY to $2,336.3 million.

Cybersecurity stock Zscaler's charts turn bullish: Jay Woods

In a CNBC Pro segment, technician Jay Woods discusses Zscaler (ZS), a cybersecurity company that has underperformed its sector peers. While CrowdStrike, Fortinet, Okta, and Palo Alto Networks have gained over 100% year-to-date, Zscaler shares fell as much as 65% from 52-week highs and remain down 13% this year. However, Woods observes a bottoming formation on both daily and weekly charts, with a bullish crossover in MACD and a breakout above $195 resistance. He suggests upside targets of $250-$265, representing 25-30% potential upside, with support at $165. The analysis highlights relative rotation within the cybersecurity sector, indicating that laggards like Zscaler may see renewed strength.

• Zscaler (ZS) shares fell as much as 65% from 52-week highs and remain down 13% year-to-date.
• CrowdStrike, Fortinet, Okta, and Palo Alto Networks have each gained over 100% year-to-date.
• Jay Woods identifies a bullish double bottom formation on Zscaler's weekly chart.

Fortinet Expands U.S. Presence with New Company-Owned Innovation Hub in New York City

Fortinet announced the opening of a new company-owned innovation hub in New York City, expanding its U.S. presence. This is part of Fortinet's strategic growth and investment in innovation.

8-K Financial Filing Analysis for Okta (2026-08-26)

On August 26, 2026, Okta, Inc. submitted a Form 8-K under Item 2.02 furnishing a press release that announced its financial results for the fiscal quarter ended July 31, 2026. The full operational metrics, income statement details, and forward-looking commentary were provided via Exhibit 99.1, which is furnished rather than filed under Section 18 of the Securities Exchange Act of 1934. The filing serves as the regulatory notice of Okta's quarterly earnings release signed by Chief Financial Officer Brett Tighe.

• Okta announced its financial results for the second fiscal quarter ended July 31, 2026 via press release on August 26, 2026.
• The results were furnished under Item 2.02 with the press release attached as Exhibit 99.1.
• The filing was executed by Chief Financial Officer Brett Tighe on August 26, 2026.

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