secwatch.observer — SEC 8-K summary
======================================

Issuer:     Fortinet, Inc. (FTNT)
CIK:        0001262039
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001262039-24-000017
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000017/0001262039-24-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000017/ftnt-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001262039-24-000017

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