Revenue segments as reported by the company.

Product

Service

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Gross Profit, Operating Income, and Net Income as a percentage of Revenue

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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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Year over year growth in Revenue and Operating Expenses.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Fortinet

Fortinet, Inc. provides cybersecurity solutions to a variety of businesses, such as enterprises, communication service providers and small businesses. It operates through the following segments: Network Security, Infrastructure Security, Cloud Security, and Endpoint Protection, Internet of Things and Operational Technology. The Network Security segment includes the majority of product sales from its FortiGate network security appliances. The Infrastructure Security segment provides a platform, which is an architectural approach that protects the entire digital attack surface, including network core, endpoints, applications, data centers and private and public clouds. Together with its network of Fabric-Ready Partners, the Fortinet Security Fabric platform enables disparate security devices to work together as an integrated, automated, and collaborative solution. The Cloud Security segment provides help to customers to connect securely to and across their cloud environments by offering security through its virtual firewall and other software products in public and private cloud environments. The Endpoint Protection, Internet of Things and Operational Technology segment includes the proliferation of Internet of Things (IoT) and an Operational Technology (OT). IoT and OT have created an environment where data moves freely between devices across locations, network environments, remote offices, mobile workers and public cloud environments, making the data difficult to consistently track and secure. The company was founded by Ken Xie and Michael Xie in October 2000 and is headquartered in Sunnyvale, CA.

Earnings data Q1 2021

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Earnings data Q1 2022

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Earnings data Q1 2023

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Earnings data Q4 2024

Fortinet posts record Q4 results, eyes sustained growth and innovation

Fortinet delivered strong financial results in Q4 2022, with significant revenue growth, record billings, and a focus on maintaining operating margins above 25% amidst challenges.
The company showcased market leadership through innovative product offerings, market share gains, and strategic growth initiatives in diverse regions and sectors.
Opportunities for Fortinet include sustained product revenue growth, cloud infrastructure expansion, and leveraging integrated solutions for enhanced customer value and market positioning.

Fortinet excels in Q1 with record revenue growth and strategic focus

Fortinet delivered a stellar Q1 performance with robust revenue growth, strong customer acquisition, and strategic product advancements. While facing challenges in a competitive market and operational scalability, the company is well-positioned to capitalize on opportunities in cybersecurity and network security markets. By focusing on innovation, customer diversification, and revenue-driving strategies, Fortinet aims for continued growth and market leadership.

Fortinet reports robust Q2 earnings, eyes growth amid challenges

Fortinet's Q2 '23 performance was strong, with revenue growth, operating margin surpassing guidance, and diversified revenue streams from SD-WAN and OT security.
The company's strengths lie in market leadership in firewalls, innovative products, customer wins, and technological advancements like AI and machine learning.
Challenges include cancellation rates, workforce shortages for CISOs, macroeconomic impacts, and ongoing investments in hiring.
Opportunities exist in network security advantages, market positioning against competitors, growth projections, and leveraging demand trends in Europe.

Fortinet exceeds Q3 expectations, targets double-digit growth by 2024

Fortinet is strategically shifting focus towards SASE market for growth.
Confident in competing in SASE market with integrated solutions.
Investing in sales enablement and partnerships to drive growth.
Balanced approach to innovation, engineering, and sales execution.

Fortinet reports robust Q4 earnings, eyes growth in SASE and SecOps

Fortinet's Q4 2023 performance showcased strong financial results, with total billings up 8.5% and service revenue growing by 25%. Despite facing challenges like backlog impact and potential sales team hurdles, the company is well-positioned to leverage opportunities in SASE and SecOps growth. With a focus on innovation, customer-centric approach, and strategic investments, Fortinet aims to maintain its market leadership and drive future growth.

Fortinet reports record Q1 revenue and margins, eyes market leadership

Fortinet's Q1 2024 performance reflects strong financials, driven by unified SASE and SecOps segments, despite challenges from large deals impacting growth.
The company's focus on differentiated offerings, prudent cost management, and strategic investments positions it well for future growth and market leadership.
Opportunities in promoting unified SASE, leveraging hardware for SASE functions, and strategic initiatives like buybacks and M&A present avenues for continued success.

Fortinet reports record margins and strategic acquisitions driving growth

Fortinet's Q2 2024 earnings call showcased impressive financial results, marked by record operating margins, revenue growth, and strategic acquisitions. While facing potential challenges in a competitive market, the company's focus on innovation and market expansion presents promising opportunities for future growth and leadership.

Fortinet (FTNT) reports stellar Q3 results and eyes market expansion

Fortinet's Q3 2024 earnings call showcased exceptional performance, with record margins, revenue growth, and strategic wins across sectors and regions, underlining the company's strong market position and growth potential.
While challenges in maintaining growth momentum and addressing evolving market dynamics exist, Fortinet's solid financial results and raised guidance for the full year position it well for continued success and market leadership.
The company's focus on innovation, market expansion, and customer acquisition, coupled with strong financial metrics and operational efficiency, present promising opportunities for sustained growth and competitive advantage in the cybersecurity sector.

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Fortinet, Inc. provides cybersecurity solutions to a variety of businesses, such as enterprises, communication service providers, government organizations, and small to medium-sized businesses. Its product portfolio includes network security, secure access service edge, enterprise networking, security operations, application security, and operational technology. The company was founded by Ken Xie and Michael Xie in October 2000 and is headquartered in Sunnyvale, CA.

Fortinet's commitment to providing a more extensive global cloud network ensures customers can more seamlessly connect and secure their hybrid workforces to critical applications Fortinet's commitment to providing a more extensive global cloud network ensures customers can more seamlessly connect and secure their hybrid workforces to critical applications

Fortinet Extends its Universal SASE Footprint Through Expanded Strategic Partnership with Digital Realty

CrowdStrike

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Zscaler

Cybersecurity stocks have performed well in 2023, rising about +26.5% YTD, with the security backdrop boosted by an increase in data breaches and ransomware. Budget cuts, consolidation, and optimization are some of the trends at play in the cybersecurity market that are pulling 2023's growth rates lower. Cybersecurity stocks are investor favorites due to an ever-growing need for cybersecurity solutions among enterprises and high cash flow generation metrics.

The Strongest Cybersecurity Stocks In Q3

Akamai Technologies

Cloudflare

Qualys

Many businesses have shifted their operations online to increase revenue and productivity. While the digital landscape has created many opportunities, it has also created more vulnerabilities.

7 Cybersecurity Stocks That Could Be Multibaggers in the Making

Fortinet, Inc. (NASDAQ:FTNT ) Wells Fargo 7th Annual TMT Summit Conference November 28, 2023 3:45 PM ET Company Participants Keith Jensen - CFO Conference Call Participants Andy Nowinski - Wells Fargo Andy Nowinski Okay, everyone, thank you very much for joining us today. My name is Andy Nowinski, software analyst at Wells Fargo.

Fortinet, Inc. (FTNT) Wells Fargo 7th Annual TMT Summit Conference (Transcript)

Fortinet has generated a return of more than 4,000% since its IPO. Macro headwinds have significantly throttled its growth over the past year.

Will Fortinet Be a Trillion-Dollar Stock by 2040?

Fortinet (FTNT) provides a complimentary security awareness program for all primary and secondary-grade students in the U.K.

Fortinet (FTNT) Offers Free Security Program for UK Students

Fortinet, Inc. experienced significant downside volatility after disappointing Q3 earnings and billings performance. The market reaction is justified. The stock is currently not priced at a discount, and its growth is expected to slow further. Investors are right to price in higher execution risks. Despite challenges, management is confident in the company's long-term prospects and expects growth to rebound in the second half of 2024.

Fortinet: Crashed To A 1-Year Low - Time To Pounce (Rating Upgrade)

Global X Cybersecurity ETF

Check Point Software Technologies

Amplify Cybersecurity ETF

Rapid7

Cybersecurity stocks are great long-term buys because unbelievably, we're still not prepared for cyber attacks. Even after hundreds of attacks over the years, some of the biggest companies in the world – even government agencies aren't prepared.

7 Cybersecurity Stocks You'll Regret Not Buying Soon: November 2023

Axcelis Technologies

Applied Materials

NVIDIA

Oracle

Perion Network

QUALCOMM

Undervalued growth stocks give investors a greater margin of safety. This margin of safety can help investors ride market corrections and generate significant upside during market rallies.

Get Massive Returns in 2024 With These Top 7 Undervalued Growth Stocks

Dollar Tree

Warner Bros Discovery Inc

Investors have been rocking and rolling over the past few years. A 14-year-long bull market was brought up short by the COVID-19 outbreak only to quickly resume its meteoric rise that lasted through 2021.

Nasdaq's Hidden Deals: 3 Value Stocks to Buy Before the Rebound

AutoNation

Discover

Genmab - ADR

Jack in the Box

MercadoLibre

Vici Properties

Given that this may be the year of artificial intelligence, it's no surprise that while certain enterprises have hogged the spotlight, astute investors also enjoy compelling opportunities regarding stocks on sale. To be sure, this approach requires going off the beaten path.

7 Must-Buy Stocks That Are on Ridiculous Discount Now

CyberArk Software

Okta

SentinelOne

With a boost in global security spending expected this year, these cybersecurity stocks are worth a closer look.

7 Cybersecurity Stocks to Buy Now

Fortinet delegation will contribute alongside the world's foremost cybersecurity leaders and experts in efforts to make cyberspace safer and more resilient Fortinet delegation will contribute alongside the world's foremost cybersecurity leaders and experts in efforts to make cyberspace safer and more resilient

Media Advisory: Fortinet Returns to World Economic Forum's Annual Meeting on Cybersecurity

Fortinet stock has turned into a disaster since this summer as management has disappointed with guidance two quarters in a row. However, there's more going on under the hood than just disappointing guidance.

Fortinet Stock Tanks Again, Buying Opportunity or Falling Knife?

Fortinet disappointed investors with a pessimistic outlook.

Down 37%, Is Fortinet Stock a Buy on the Dip?

Electronic Arts

Recent jobs data suggest a cooling labor market. While unfortunate for job-seekers, this trend sparks optimism among investors that the central bank's rake hiking cycle may have reached its conclusion since its start in 2022.

You'll Be Thankful You Bought These 3 Stocks in 2023

Apple

Datadog

iShares Russell 2000 ETF

Invesco QQQ

Mr. Market has thrown up big tells on which sectors are likely to outperform going forward. My top two sector picks are mega cap technology and cybersecurity stocks, both of which are displaying relative strength.

Mega-Cap Technology And Cybersecurity Stocks Leading The Market (Technical Analysis)

Airbnb

Arista Networks

Carnival

Ceridian HCM Holding Inc.

DexCom

First Solar

General Electric

Eli Lilly

Las Vegas Sands

Lamb Weston Hlds

Mondelez

Norwegian Cruise Line

ServiceNow

PACCAR

Insulet

Royal Caribbean Cruises

Roper Technologies

Westinghouse Air Brake Technologies

Earnings season is a time when investors like to see a “beat and raise” pattern. That is, companies report sales and earnings that surprise the market by coming in ahead of analysts' estimates.

Earnings-season winners: 20 companies that have grown sales while improving profit margins

Fortinet produced weaker-than-expected sales growth in its latest quarter. It reduced its full-year revenue and billings guidance again.

Is It Too Late to Buy Fortinet Stock?

Fortinet reported Q3 revenue and billings that missed estimates while its 2024 outlook disappointed amid slowing growth in the market for network "firewall" appliances.

Fortinet Plunges As Network Firewall Market Turns Down

Fortinet's (FTNT) third-quarter results reflect strength in demand from small enterprise customers and growth in the company's security subscriptions.

Fortinet (FTNT) Q3 Earnings Beat Expectations, Sales Miss

Fortinet beat earnings expectations in Q3, but its sales came in lower than anticipated. The company's forward guidance and commentary are also worrying investors.

Why Fortinet Stock Is Plummeting Today

While most of Wall Street cheers freefalling bond yields  and jobs data, Fortinet Inc (NASDAQ:FTNT) is sitting out the festivities today.

Fortinet Stock Suffers Another Post-Earnings Collapse

News for Fortinet Stock (FTNT)