secwatch.observer — SEC 8-K summary
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Issuer:     Fortinet, Inc. (FTNT)
CIK:        0001262039
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001262039-23-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262039/000126203923000013/0001262039-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262039/000126203923000013/ftnt-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001262039-23-000013

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