Fortinet and CrowdStrike both sell cybersecurity, but their revenue engines differ: Fortinet combines networking products such as firewalls with security subscriptions and support, while CrowdStrike is primarily a subscription-based, cloud-delivered software business. Their latest reported quarters each showed 26% year-over-year revenue growth, but the periods ended one month apart and the companies report different metrics. Those figures describe business performance—not which stock is cheaper or the better investment.
How Fortinet and CrowdStrike make money
Fortinet: products plus recurring services
Fortinet sells secure networking products, including firewall hardware, and earns recurring revenue from security subscriptions and technical support. In FY2025, it reported $6.800 billion in total revenue: $2.218 billion from products and $4.581 billion from services. Services included $2.633 billion in security subscriptions and $1.948 billion in technical support and other services. These company-reported figures show that services were the larger stream, while product sales remained economically significant. Fortinet FY2025 Form 10-K
| # | Preview | Product | Price | |
|---|---|---|---|---|
| 1 |
|
Crowdstrike stock | $199.00 | Buy on Amazon |
| 2 |
|
When Security Fails: Analyzing the CrowdStrike Outage and its Impact | $9.99 | Buy on Amazon |
| 3 |
|
Clever Fox Firearms Acquisition & Disposition Record Book, Dark Green | $21.99 | Buy on Amazon |
Fortinet reported $7.18 billion in remaining performance obligations as of December 31, 2025. The company said these obligations were substantially made up of deferred security subscriptions and technical support, along with unbilled revenue under non-cancellable contracts. Remaining performance obligations indicate contracted future revenue, not a guarantee of future growth or cash collection. Fortinet FY2025 Form 10-K
CrowdStrike: subscription-centered cloud software
CrowdStrike sells its Falcon security platform as software delivered as a service, with modular offerings spanning endpoint protection, security operations, cloud security, identity, threat intelligence, data protection, observability, and related areas. Its investor-relations overview describes 34 cloud modules on the platform. CrowdStrike investor-relations overview
Free tools Windows power users keep installed
One-click scans. No signup required.
#1 Best Overall
For FY2027 Q2, CrowdStrike reported $1.400 billion of subscription revenue out of $1.471 billion in total revenue. Its ending annual recurring revenue (ARR) was $5.84 billion at July 31, 2026. ARR is a company-defined operating metric and should not be treated as GAAP revenue: it represents a recurring-revenue run rate, not revenue recognized during the quarter. CrowdStrike FY2027 Q2 results
Latest reported results: strong growth, different quarter ends
The latest periods available here are not aligned: Fortinet’s FY2026 Q2 ended June 30, 2026, while CrowdStrike’s FY2027 Q2 ended July 31, 2026. The table summarizes each company’s own reported quarter; it is not a same-period comparison. Billings and free cash flow are company-defined or non-GAAP measures, and CrowdStrike’s non-GAAP subscription gross margin is not directly comparable to Fortinet’s GAAP operating margin. Fortinet FY2026 Q2 results CrowdStrike FY2027 Q2 results
| Company and period | Revenue and growth | Selected results |
|---|---|---|
| Fortinet FY2026 Q2, ended June 30, 2026 | $2.05 billion total revenue, up 26% year over year; $773 million product revenue, up 52% | $2.37 billion billings; 34% GAAP operating margin; $966 million free cash flow |
| CrowdStrike FY2027 Q2, ended July 31, 2026 | $1.471 billion total revenue, up 26% year over year; $1.400 billion subscription revenue, up 27% | $5.84 billion ending ARR, up 25%; 81% non-GAAP subscription gross margin; $377 million free cash flow; $33.2 million GAAP operating loss and $371.6 million non-GAAP operating income |
The adjusted CrowdStrike figures should remain distinct from GAAP results. The company’s earnings release says its adjusted guidance excludes stock compensation and several other items, including costs or recoveries associated with the July 19 incident. CrowdStrike FY2027 Q2 results
What drives future growth—and what can interrupt it
Fortinet: product cycles, supply, and renewals
Fortinet’s product revenue can move with hardware demand, product transitions, component availability, and channel inventory. Its filings discuss component supply, manufacturing, inventory, channel-order variability, and possible margin effects from shortages or excess stock. Investors can also follow renewal performance for security subscriptions and support, which provide recurring service revenue. Fortinet FY2025 Form 10-K Fortinet FY2026 Q2 results
PC Slower Than It Used to Be?
A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Crashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteRank #3
- PREMIUM-QUALITY RECORD BOOK FOR DEALERS & COLLECTORS: Clever Fox Firearms Record Book is designed to help professional firearm dealers keep detailed and legally compliant acquisition and disposition information.
- 129 PAGES WITH 1,342 NUMBERED ENTRIES TOTAL: There are 129 pages in this firearm log book with 1,342 numbered entries total. Each pre-printed entry allows you to record the firearm’s description, as well as receipt and disposition info.
- LARGE FORMAT & PLENTY OF SPACE FOR EVERY DETAIL: This firearm record book comes in large format and measures 10 by 7 inches, so you have lots of space to make detailed records and add all the information you need.
- STORAGE POCKET, DURABLE HARDCOVER & THICK NO-BLEED PAPER: This gun record book features a pocket for loose papers, a pen loop, an elastic band, and a bookmark. The hardcover is made of durable vegan leather. The pages are thick 120gsm paper.
- 60-DAY MONEY-BACK GUARANTEE: We will exchange or refund your book of firearms if you aren’t satisfied with your personal firearms record book for any reason. Reach out to us via message to refund your personal gun log book.
CrowdStrike: subscriptions, expansion, and execution
For CrowdStrike, relevant operating signals include subscription growth, ARR additions, renewals and customer expansion, and adoption of additional platform modules. These measures help describe recurring demand, but they do not remove execution risk. CrowdStrike identifies rapid growth, defects or vulnerabilities, competitive response, customer retention, and costs related to the July 19, 2024 incident among its risks; its FY2027 Q2 release continued to include the incident among risk factors. CrowdStrike FY2026 Form 10-K CrowdStrike FY2027 Q2 results
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to compare the stocks without confusing the businesses
Operating growth alone cannot establish which stock is cheaper or more attractive. A fair valuation comparison requires prices from the same date, current share counts, consistent treatment of cash and debt, and comparable valuation denominators such as earnings or free cash flow. No synchronized market-capitalization or valuation-multiple snapshot is established here, so a current winner on valuation cannot be identified from the reported revenue growth.
- Revenue durability: distinguish Fortinet’s products from subscriptions and support, and assess CrowdStrike’s recurring subscriptions alongside renewal and expansion performance.
- Growth quality: keep revenue, product revenue, subscription revenue, billings, and ARR separate; note each company’s definitions and reporting period.
- Profitability and cash: start with GAAP operating results and clearly label non-GAAP margins, adjusted income, and company-defined cash-flow measures.
- Execution risk: consider Fortinet’s supply and inventory exposure alongside CrowdStrike’s platform reliability, retention, and competitive risks.
Management commentary can explain strategy but is not independent proof of market size. In the August 26, 2026 earnings release, CrowdStrike CEO George Kurtz said, “Every enterprise will run on AI, and securing it is the largest market opportunity in our history.” That is the company’s strategic assertion, not a verified estimate of the addressable market. CrowdStrike FY2027 Q2 results
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
The Tool Desk
Outbyte PC Repair FREERepair Windows errors before they cause bigger problemsFix Now →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →
