---
schema_version: "secwatch.filing_event.v1"
accession: "0001262039-24-000017"
form_type: "8-K"
ticker: "FTNT"
cik: "0001262039"
company_name: "Fortinet, Inc."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-02T23:58:47.783914+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fortinet Q1 revenue up 7% to $1.35B, product revenue falls 18%, non-GAAP EPS $0.43

## Summary
- Total revenue $1.35B (+7% YoY); service revenue $944M (+24%) offset product revenue $409M (-18%).
- GAAP net income $299M ($0.39 diluted EPS); non-GAAP net income $334M ($0.43 diluted EPS).
- Billings $1.41B (-6.4% YoY); deferred revenue $5.79B (+18.6%).
- Q2 guidance: revenue $1.375B-$1.435B, non-GAAP EPS $0.39-$0.41.
- FY2024 guidance: revenue $5.745B-$5.845B, non-GAAP EPS $1.73-$1.79.

## SEC filing metadata
- accession: 0001262039-24-000017
- form_type: 8-K
- ticker: FTNT
- cik: 0001262039
- company_name: Fortinet, Inc.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1262039/000126203924000017/0001262039-24-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1262039/000126203924000017/ftnt-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001262039-24-000017
- JSON: https://secwatch.observer/filing/0001262039-24-000017.json
- Plain text: https://secwatch.observer/filing/0001262039-24-000017.txt

## Key facts
- Earnings Releases
  Fortinet, Inc. reported first quarter ended March 31, 2024 results: revenue Total revenue was $1.35 billion, net income GAAP net income was $299.3 million, EPS GAAP diluted net income per share was $0.39.
  - Period: first quarter ended March 31, 2024
  - Revenue: Total revenue was $1.35 billion
  - Net income: GAAP net income was $299.3 million
  - EPS: GAAP diluted net income per share was $0.39
  - Result: reported results
  source text: Fortinet Reports First Quarter 2024 Financial Results First Quarter 2024 Highlights • Total revenue of $1.35 billion, up 7% year over year
  evidence_url: https://www.sec.gov/Archives/edgar/data/1262039/000126203924000017/0001262039-24-000017-index.htm

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