Fortinet vs. CrowdStrike: What Comparing Revenue Trends Tells Investors

Fortinet: Navigating Sequential Volatility

Fortinet (NASDAQ:FTNT) primarily generates revenue by selling integrated cybersecurity hardware, software licenses, and subscription services to enterprise customers.

It recently expanded its lineup with new firewall models and faced shareholder legal investigations, while reporting an approximately 29% net income margin for the quarter ended March 31, 2026.

CrowdStrike: Steady Sequential Growth

CrowdStrike (NASDAQ:CRWD) earns revenue mostly by selling cloud-based subscriptions for its security modules that protect endpoints, identity, and data.

It authorized a $500 million share repurchase increase and announced a 5% workforce reduction, and generated an approximately 5% net income margin for the quarter ended Jan. 31, 2026.

Why Revenue Matters for Retail Investors

Revenue represents the total amount of money a business brings in from its core operations before any expenses are subtracted. Tracking this metric helps investors measure a company’s total customer sales volume and baseline growth trajectory over time.

Image source: The Motley Fool.

Quarterly Revenue for Fortinet and CrowdStrike

Data source: Company filings. Data as of May 28, 2026.

Foolish Take

Comparing revenue between Fortinet and CrowdStrike provides interesting insights to investors. As the older company, Fortinet’s total sales are higher than CrowdStrike’s. It is also seeing year-over-year revenue growth, which is a sign that its business is growing.

However, the trend over the past two years reveals CrowdStrike is experiencing consistent revenue growth nearly every quarter, while sequential quarterly sales are lumpy for its cybersecurity rival. For CrowdStrike to deliver an increase every quarter is impressive, and indicates strong customer demand for its cybersecurity solutions. If this sales trend continues, CrowdStrike is likely to overtake Fortinet in total sales over time.

CrowdStrike appears to be making the right moves to do so. Its Project QuiltWorks focuses on the security risks around artificial intelligence, and has gone beyond protecting against hackers and into insurance for AI’s penchant to make mistakes that can cause a business to suffer financial liability. The cybersecurity giant partnered with leading insurance providers, such as Liberty Mutual Insurance.

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Robert Izquierdo has positions in CrowdStrike. The Motley Fool has positions in and recommends CrowdStrike and Fortinet. The Motley Fool has a disclosure policy.

Fortinet vs. CrowdStrike: What Comparing Revenue Trends Tells Investors was originally published by The Motley Fool