8-K
filed November 2, 2023, 7:59 PM ET
ticker FTNT
CIK 0001262039
earnings
confidence high
sentiment neutral
materiality 0.75
Fortinet Q3 revenue up 16% to $1.33B, product revenue declines 0.6%; guides Q4 revenue $1.38-1.44B
Fortinet, Inc.
2023-Q3 EPS reported
$1.05
revenue$3,889,700,000
- Total revenue $1.33B (+16% YoY); product revenue $465.9M (-0.6% YoY) as Secure Networking demand normalizes.
- Service revenue $868.7M (+28% YoY); deferred revenue $5.29B (+26% YoY) highlights recurring strength.
- GAAP diluted EPS $0.41 (+41% YoY); non-GAAP diluted EPS $0.41 (+24% YoY).
- Operating cash flow $551.2M; free cash flow $481.1M; repurchased 10.4M shares for $605.2M in Q3.
- Q4 guidance: revenue $1.38-1.44B, non-GAAP EPS $0.42-0.44; FY2023 revenue $5.27-5.33B.
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 of 2023 results: revenue Revenue in the range of $1.380 billion to $1.440 billion, EPS $0.42 to $0.44. Guidance initiated.
- Period
- the fourth quarter of 2023
- Revenue
- Revenue in the range of $1.380 billion to $1.440 billion
- EPS
- $0.42 to $0.44
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
For the fourth quarter of 2023, Fortinet currently expects: • Revenue in the range of $1.380 billion to $1.440 billion • Billings in the range of $1.560 billion to $1.700 billion • Non-GAAP gross margin in the range of 75.5% to 76.5% • Non-GAAP operating margin in the range of 27.5% to 28.5% • Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $0.42 to $0.44
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Fortinet, Inc. reported the third quarter ended September 30, 2023 results: revenue $1.33 billion, net income $322.9 million, EPS $0.41.
- Period
- the third quarter ended September 30, 2023
- Revenue
- $1.33 billion
- Net income
- $322.9 million
- EPS
- $0.41
- Result
- reported results
Exact text from the filing
--- EX-99.1 2 ftntq3-2023ex991.htm PRESS RELEASE Document Press Release Fortinet Reports Third Quarter 2023 Financial Results Third Quarter 2023 Highlights • Total revenue of $1.33 billion, up 16% year over year • Service revenue of $868.7 million, up 28% year over year • Billings of $1.49 billion, up 6% year over year 1 • Deferred revenue of $5.29 billion, up 26%
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Fortinet, Inc. reported the fiscal year 2023 results: revenue Revenue in the range of $5.270 billion to $5.330 billion, EPS $1.54 to $1.56. Guidance initiated.
- Period
- the fiscal year 2023
- Revenue
- Revenue in the range of $5.270 billion to $5.330 billion
- EPS
- $1.54 to $1.56
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
For the fiscal year 2023, Fortinet currently expects: • Revenue in the range of $5.270 billion to $5.330 billion • Service revenue in the range of $3.355 billion to $3.375 billion • Billings in the range of $6.095 billion to $6.235 billion • Non-GAAP gross margin in the range of 76.0% to 77.0% • Non-GAAP operating margin in the range of 26.5% to 27.5% • Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $1.54 to $1.56
View on SEC.gov
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