8-K
filed February 7, 2023, 6:59 PM ET
ticker FTNT
CIK 0001262039
earnings
confidence high
sentiment positive
materiality 0.85
Fortinet Q4 revenue $1.28B (+33% YoY); FY22 revenue $4.42B, record FCF $1.45B
Fortinet, Inc.
2022-FY EPS reported
$1.06
revenue$4,417,400,000
- Q4 GAAP EPS $0.40, non-GAAP EPS $0.44, up 67% and 76% YoY respectively.
- FY product revenue $1.78B (+42% YoY); service revenue $2.64B (+26% YoY).
- FY22 free cash flow record $1.45B; share repurchases $1.99B in 2022.
- Q1 2023 guidance: revenue $1.18-1.22B, non-GAAP EPS $0.27-0.29.
- FY 2023 guidance: revenue $5.37-5.43B, non-GAAP EPS $1.39-1.41.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Fortinet, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $1.28 billion, net income $313.8 million, EPS $0.40.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- $1.28 billion
- Net income
- $313.8 million
- EPS
- $0.40
- Result
- reported results
Exact text from the filing
Revenue: Total revenue was $1.28 billion for the fourth quarter of 2022, an increase of 33.1% compared to $963.6 million for the same quarter of 2021. • Billings 1 : Total billings were $1.72 billion for the fourth quarter of 2022, an increase of 31.6% compared to $1.31 billion for the same quarter of 2021. • GAAP Operating Income and Margin: GAAP operating income was $357.8 million for the fourth quarter of 2022, representing a GAAP operating margin of 27.9%. GAAP operating income was $214.9 million for the same quarter of 2021, representing a GAAP operating margin of 22.3%. • Non-GAAP Operating Income and Margin 1 : Non-GAAP operating income was $417.6 million for the fourth quarter of 2022, representing a non-GAAP operating margin of 32.5%. Non-GAAP operating income was $274.7 million for the same quarter of 2021, representing a non-GAAP operating margin of 28.5%. • GAAP Net Income and Diluted Net Income Per Share Attributable to Fortinet, Inc. 2 : GAAP net income was $313.8 million
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Fortinet, Inc. reported the year ended December 31, 2022 results: revenue $4.42 billion, net income $857.3 million, EPS $1.06.
- Period
- the year ended December 31, 2022
- Revenue
- $4.42 billion
- Net income
- $857.3 million
- EPS
- $1.06
- Result
- reported results
Exact text from the filing
Revenue: Total revenue was $4.42 billion for 2022, an increase of 32.2% compared to $3.34 billion in 2021. • Billings 1 : Total billings were $5.59 billion for 2022, an increase of 33.8% compared to $4.18 billion in 2021. • Deferred Revenue: Total deferred revenue was $4.64 billion as of December 31, 2022, an increase of 34.4% compared to $3.45 billion as of December 31, 2021. • GAAP Operating Income and Margin: GAAP operating income was $969.6 million for 2022, representing a GAAP operating margin of 21.9%. GAAP operating income was $650.4 million for 2021, representing a GAAP operating margin of 19.5%. • Non-GAAP Operating Income and Margin 1 : Non-GAAP operating income was $1.21 billion for 2022, representing a non-GAAP operating margin of 27.3%. Non-GAAP operating income was $875.5 million for 2021, representing a non-GAAP operating margin of 26.2%. • GAAP Net Income and Diluted Net Income Per Share Attributable to Fortinet, Inc. 2 : GAAP net income was $857.3 million for 2022, com
View on SEC.gov
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