Fortinet Q3 revenue up 33% to $1.15B; non-GAAP EPS $0.33 vs $0.20 YoY

Fortinet, Inc.

2022-Q3 EPS reported $0.67 revenue$3,134,400,000

Revenue $1.15B (+33% YoY); product $468.7M (+39%), service $680.8M (+28%).
GAAP diluted EPS $0.29, non-GAAP $0.33; GAAP operating margin 23.1%, non-GAAP 28.3%.
Deferred revenue $4.19B (+35%), billings $1.41B (+33%). Cash flow $483M, free cash flow $395M.
Repurchased 10.2M shares for $500M in Q3 at avg $49.15/share.
Q4 guidance: rev $1.275-1.315B, non-GAAP EPS $0.38-0.40; FY22 rev $4.41-4.45B, non-GAAP EPS $1.13-1.15.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortinet, Inc. reported fiscal year 2022 results: revenue $4.410 billion to $4.450 billion, EPS $1.13 to $1.15.

Period: fiscal year 2022
Revenue: $4.410 billion to $4.450 billion
EPS: $1.13 to $1.15
Result: guidance update

Exact text from the filing

For the fiscal year 2022, Fortinet currently expects: • Revenue in the range of $4.410 billion to $4.450 billion • Service revenue in the range of $2.645 billion to $2.655 billion • Billings in the range of $5.540 billion to $5.595 billion • Non-GAAP gross margin in the range of 75.0% to 76.0% • Non-GAAP operating margin in the range of 26.0% to 27.0% • Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $1.13 to $1.15, assuming a non-GAAP effective tax rate of 17%. This assumes a diluted share count of 800 million to 810 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortinet, Inc. reported fourth quarter of 2022 results: revenue $1.275 billion to $1.315 billion, EPS $0.38 to $0.40.

Period: fourth quarter of 2022
Revenue: $1.275 billion to $1.315 billion
EPS: $0.38 to $0.40
Result: guidance update

Exact text from the filing

Guidance For the fourth quarter of 2022, Fortinet currently expects: • Revenue in the range of $1.275 billion to $1.315 billion • Billings in the range of $1.665 billion to $1.720 billion • Non-GAAP gross margin in the range of 75.0% to 76.0% • Non-GAAP operating margin in the range of 30.0% to 31.0% • Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $0.38 to $0.40, assuming a non-GAAP effective tax rate of 17%. This assumes a diluted share count of 795 million to 805 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortinet, Inc. reported third quarter ended September 30, 2022 results: revenue $1.15 billion, net income $231.6 million, EPS $0.29.

Period: third quarter ended September 30, 2022
Revenue: $1.15 billion
Net income: $231.6 million
EPS: $0.29
Result: reported results

Exact text from the filing

Financial Highlights for the Third Quarter of 2022 • Revenue: Total revenue was $1.15 billion for the third quarter of 2022, an increase of 32.6% compared to $867.2 million for the same quarter of 2021. • Product Revenue: Product revenue was $468.7 million for the third quarter of 2022, an increase of 39.0% compared to $337.1 million for the same quarter of 2021. • Service Revenue: Service revenue was $680.8 million for the third quarter of 2022, an increase of 28.4% compared to $530.1 million for the same quarter of 2021. • Billings 1 : Total billings were $1.41 billion for the third quarter of 2022, an increase of 32.6% compared to $1.06 billion for the same quarter of 2021. • Deferred Revenue: Total deferred revenue was $4.19 billion as of September 30, 2022, an increase of 35.0% compared to $3.11 billion as of September 30, 2021. • GAAP Operating Income and Margin: GAAP operating income was $265.5 million for the third quarter of 2022, representing a GAAP operating margin of 23.1%.

View on SEC.gov

Browse all earnings releases →

Fortinet, Inc. filing history →

Source: SEC EDGAR

accession 0001262039-22-000035

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.