secwatch.observer — SEC 8-K summary
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Issuer:     Fortinet, Inc. (FTNT)
CIK:        0001262039
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001262039-23-000035
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortinet Q3 revenue up 16% to $1.33B, product revenue declines 0.6%; guides Q4 revenue $1.38-1.44B
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262039/000126203923000035/0001262039-23-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262039/000126203923000035/ftnt-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001262039-23-000035

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