Fortinet Q1 rev $1.26B (+32% YoY), non-GAAP EPS $0.34; board adds $1B to buyback, FY23 guidance raised

Fortinet, Inc.

2023-Q1 EPS reported $0.31 revenue$1,262,300,000

Revenue $1.26B (+32% YoY); product rev $500.7M (+35%), service rev $761.6M (+30%).
GAAP net income $247.7M, diluted EPS $0.31; non-GAAP net income $269.7M, diluted EPS $0.34.
Billings $1.50B (+30% YoY); deferred revenue $4.88B (+33%).
Board authorized $1.0B increase in share repurchase program; $1.53B remaining as of May 4.
Q2'23 guidance: rev $1.28B-$1.32B, non-GAAP EPS $0.33-$0.35; FY23: rev $5.425B-$5.485B, non-GAAP EPS $1.44-$1.48.

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 first quarter ended March 31, 2023 results: revenue $1.26 billion, net income $247.7 million, EPS $0.31. Guidance initiated.

Period: first quarter ended March 31, 2023
Revenue: $1.26 billion
Net income: $247.7 million
EPS: $0.31
Guidance: initiated
Result: reported results

Exact text from the filing

Results First Quarter 2023 Highlights • Product revenue of $500.7 million, up 35% year over year • Service revenue of $761.6 million, up 30% year over year • Total revenue of $1.26 billion, up 32% year over year • Billings of $1.50 billion, up 30% year over year 1 • Deferred revenue of $4.88 billion, up 33% year over year • GAAP operating income of $273.5 million,

View on SEC.gov

Browse all earnings releases →

Fortinet, Inc. filing history →

Source: SEC EDGAR

accession 0001262039-23-000013

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.