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Dec 31, 2019
Fortinet Q4 2019 Earnings Report
Financial results for the fourth quarter and full year ended December 31, 2019 were announced.
Key Takeaways
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.
Total revenue was $614.4 million, up 21% year over year.
Product revenue was $238.8 million, up 19% year over year.
Billings were $802.3 million, up 24% year over year.
GAAP diluted net income per share was $0.66.
Revenue by Segment
Forward Guidance
For the first quarter of 2020, Fortinet currently expects revenue in the range of $555 million to $565 million and billings in the range of $635 million to $655 million.
Positive Outlook
- Revenue in the range of $555 million to $565 million
- Billings in the range of $635 million to $655 million
- Non-GAAP gross margin in the range of 77.5% to 78.5%
- Non-GAAP operating margin in the range of 19.0% to 20.0%
- Diluted non-GAAP net income per share in the range of $0.50 to $0.52, assuming a non-GAAP effective tax rate of 24%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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