secwatch.observer — SEC 8-K summary
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Issuer:     Fortinet, Inc. (FTNT)
CIK:        0001262039
Form:       8-K
Filed at:   2022-05-04T23:59:59+00:00
Accession:  0001262039-22-000015
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortinet Q1 revenue $954.8M (+34% YoY), product revenue +54%; guides Q2 above consensus
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- GAAP diluted EPS $0.84 vs $0.64 YoY; non-GAAP diluted EPS $0.94 vs $0.81.
- Product revenue $371.0M (+54% YoY); billings $1.16B (+36%); bookings $1.28B (+50%).
- Q2 2022 revenue guidance $1.005B-$1.035B, non-GAAP EPS $1.05-$1.10; FY22 revenue $4.35B-$4.40B.
- Deferred revenue $3.66B (+33% YoY); backlog $278M, up $116M from Q4 2021.
- GAAP operating margin 15.8% (down from 17.1%); non-GAAP operating margin 22.0% (down from 24.5%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262039/000126203922000015/0001262039-22-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262039/000126203922000015/ftnt-20220504.htm
  HTML page:      https://secwatch.observer/filing/0001262039-22-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer