Fortinet · customer concentration
Fortinet’s biggest customers
Who are Fortinet’s biggest customers?
Distributor A: 28% of FY2025 revenue
The filing does not name this customer. Hollsteen never guesses names.
Numbers, method and sources
Share of revenue per customer as tagged in the filing’s XBRL (ConcentrationRiskPercentage, benchmark revenue). US GAAP requires disclosure only for customers with at least 10% of revenue; a year without a customer means below 10% or not disclosed. Labels like “Customer A” are the filer’s own; the same label is not guaranteed to be the same customer every year.
FY2025
- Distributor A (not named in filing) 28%
- Distributor B (not named in filing) 15%
- Distributor C (not named in filing) 12%
FY2024
- Distributor A (not named in filing) 29%
- Distributor B (not named in filing) 15%
- Distributor C (not named in filing) 13%
FY2023
- Distributor A (not named in filing) 28%
- Distributor B (not named in filing) 15%
- Distributor C (not named in filing) 13%
FY2022
- Distributor A (not named in filing) 29%
- Distributor B (not named in filing) 14%
- Distributor C (not named in filing) 14%
FY2021
- Distributor A (not named in filing) 31%
- Distributor B (not named in filing) 12%
FY2020
- Distributor A (not named in filing) 30%
- Distributor C (not named in filing) 10%
FY2019
- Exclusive Networks Group 31%
- Ingram Micro 11%
SEC filings only. No market data.
Is Fortinet getting more dependent on one customer?
Largest disclosed customer, by fiscal year
All Fortinet facts from SEC filings · Customer concentration of all companies