Fortinet Earnings Reports

Fortinet delivered strong Q4 2024 results, with total revenue increasing 17.3% year-over-year to $1.66 billion, driven by both product and service revenue growth. Non-GAAP operating margin reached a record 39.2%, and free cash flow surged to $380 million.

Fortinet reported a strong third quarter in 2024, with total revenue up 13% year-over-year to $1.51 billion. The company's non-GAAP operating margin reached a record 36.1%, and billings and product revenue returned to growth. Fortinet is raising its 2024 revenue and non-GAAP operating margin guidance.

Fortinet reported total revenue of $1.43 billion, up 11% year-over-year. The company's non-GAAP operating margin increased by 820 basis points year-over-year to a record 35.1%. Fortinet is continuing to invest in Unified SASE and Security Operations markets, while gaining market share in Secure Networking.

Fortinet reported a 7.2% increase in total revenue, reaching $1.35 billion for Q1 2024. Service revenue increased by 24.0% year over year, while product revenue decreased by 18.3%. The company's GAAP operating margin was 23.7%, and free cash flow was $608.5 million.

Fortinet reported a 10.3% year-over-year increase in total revenue for Q4 2023, reaching $1.42 billion. Billings also rose by 8.5% year-over-year to $1.86 billion. The company's focus on its platform strategy and sales execution drove growth in Security Operations and SASE billings.

Fortinet reported a total revenue of $1.33 billion, up 16% year over year. GAAP diluted net income per share was $0.41, up 41% year over year. The company is focusing on the faster growing SASE and Security Operations markets.

Fortinet reported a strong second quarter in 2023, with revenue reaching $1.29 billion, a 25.5% increase year-over-year. The company's GAAP EPS rose to $0.33, up 57% year-over-year, and non-GAAP EPS increased to $0.38, a 58% increase year-over-year. Fortinet's focus on secure networking, consolidated cybersecurity fabric, hybrid cloud security, and operational technology contributed to its growth.

Fortinet reported a strong first quarter with a 32% increase in total revenue, driven by significant growth in both product and service revenues. The company continues to gain market share with its integrated FortiOS and custom ASIC technology, which delivers a lower total cost of ownership and improved security efficacy.

Fortinet reported strong Q4 2022 results with a 33% increase in total revenue to $1.28 billion. The company's GAAP net income was $313.8 million, and free cash flow reached $497.2 million. For the full year 2022, revenue grew by 32% to $4.42 billion, with a GAAP net income of $857.3 million.

Fortinet reported a strong third quarter in 2022, with revenue and billings growth exceeding 30%. Total revenue reached $1.15 billion, a 32.6% increase year-over-year, and billings amounted to $1.41 billion, up by 32.6%. The company's GAAP operating margin was 23.1%, and non-GAAP diluted net income per share was $0.33.

Fortinet reported strong Q2 2022 financial results, with revenue reaching $1.03 billion, a 29% year-over-year increase. Billings grew by 36% year-over-year to $1.30 billion, driven by an over 50% increase in transactions larger than one million dollars. The company's market share gains are attributed to the convergence of networking and security, and an accelerating focus on vendor consolidation.

Fortinet reported a strong first quarter with a 34% year-over-year increase in total revenue, driven by a 54% increase in product revenue. The company's performance reflects strong demand for its cybersecurity and networking solutions, as well as effective navigation of supply chain challenges.

Fortinet reported a strong fourth quarter and full year 2021, with revenue up 29% year over year. The company's performance was driven by increased demand for its cybersecurity solutions and exceptional execution from its global operations and sales teams.

Fortinet reported a strong Q3 2021, exceeding $1 billion in quarterly billings for the first time. Total revenue reached $867.2 million, a 33% increase year-over-year, driven by growth in both product and service revenue. The company's Secure SD-WAN solution was recognized as a Leader in the 2021 Gartner Magic Quadrant for WAN Edge Infrastructure.

Fortinet reported a strong second quarter with a 30% increase in total revenue year-over-year, driven by growth in both product and service revenue. The company's billings also saw significant growth, and they raised full-year revenue and billings guidance.

Fortinet reported a strong first quarter in 2021, with total revenue reaching $710.3 million, a 23% increase year-over-year. The company's growth was fueled by its platform of on-premise and cloud security products, resulting in the highest quarterly product revenue growth in five years. Fortinet also raised its full-year guidance due to good visibility and strong business momentum.

Fortinet reported strong Q4 2020 financial results, with total revenue up 21% year-over-year. The company's performance was driven by strong sales execution, an innovative culture, and growing market demand for cybersecurity solutions.

Fortinet reported a strong third quarter with total revenue reaching $651.1 million, a 19% increase year-over-year. The company's Secure SD-WAN revenue more than doubled compared to the same period last year. Fortinet's security-driven networking approach is well-positioned to protect the multiple edges created by digital transformation and cloud migration.

Fortinet's Q2 2020 financial results showed strong growth, with revenue up 18% year-over-year, driven by demand for secure SD-WAN and work-from-home solutions. Total revenue reached $615.5 million, and billings increased by 14% to $711.5 million.

Fortinet reported a strong first quarter with a 22% year-over-year increase in total revenue, driven by growth in both product and service revenue. The company's strategic investments and competitive advantages, particularly in VPN throughput capacity, contributed to market share gains. Fortinet expects the COVID-19 pandemic may have a material negative impact on future periods.

Fortinet reported Q4 2019 total revenue of $614.4 million, a 21% increase year-over-year. Product revenue was $238.8 million, up 19% year-over-year. GAAP diluted net income per share was $0.66, while non-GAAP diluted net income per share was $0.76.