---
schema_version: "secwatch.filing_event.v1"
accession: "0001262039-23-000027"
form_type: "8-K"
ticker: "FTNT"
cik: "0001262039"
company_name: "Fortinet, Inc."
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T07:21:53.191322+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Fortinet Q2 revenue up 26% to $1.29B; GAAP EPS $0.33 beats; raises buyback authorization by $1.5B

## Summary
- Total revenue $1.29B (+26% YoY); product rev $472.6M (+18%), service rev $820.2M (+30%).
- GAAP EPS $0.33 vs $0.21 YoY (+57%); non-GAAP EPS $0.38 vs $0.24 YoY (+58%).
- Board added $1.5B to stock buyback; total authorization $6.75B through Feb 2024; $2.03B remaining.
- Q3 2023 guidance: revenue $1.315-1.375B, non-GAAP EPS $0.35-0.37; FY 2023 rev $5.35-5.45B, EPS $1.49-1.53.
- Cash from ops $515.1M; free cash flow $438.3M; deferred revenue $5.13B (+30% YoY).

## SEC filing metadata
- accession: 0001262039-23-000027
- form_type: 8-K
- ticker: FTNT
- cik: 0001262039
- company_name: Fortinet, Inc.
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1262039/000126203923000027/0001262039-23-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1262039/000126203923000027/ftnt-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001262039-23-000027
- JSON: https://secwatch.observer/filing/0001262039-23-000027.json
- Plain text: https://secwatch.observer/filing/0001262039-23-000027.txt

## Key facts
- Earnings Releases
  Fortinet, Inc. reported the second quarter ended June 30, 2023 results: revenue $1.29 billion, net income $266.3 million, EPS $0.33. Guidance initiated.
  - Period: the second quarter ended June 30, 2023
  - Revenue: $1.29 billion
  - Net income: $266.3 million
  - EPS: $0.33
  - Guidance: initiated
  - Result: reported results
  source text: Results Second Quarter 2023 Highlights • Product revenue of $472.6 million, up 18% year over year • Service revenue of $820.2 million, up 30% year over year • Total revenue of $1.29 billion, up 26% year over year • Billings of $1.54 billion, up 18% year over year 1 • Deferred revenue of $5.13 billion, up 30% year over year • GAAP operating income of $279.0 million,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1262039/000126203923000027/0001262039-23-000027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.