secwatch.observer — SEC 8-K summary
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Issuer:     Fortinet, Inc. (FTNT)
CIK:        0001262039
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001262039-24-000032
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortinet Q2 revenue $1.43B (+11% YoY); record operating margins; raises 2024 guidance
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- Total revenue $1.43B (+11% YoY); record GAAP operating margin 30.5% and non-GAAP 35.1%.
- Service revenue $982M (+20% YoY), product revenue $451.9M (-4.4% YoY); billings flat at $1.54B.
- GAAP EPS $0.49, non-GAAP EPS $0.57, both up from $0.33/$0.38 YoY.
- Raises FY2024 revenue guidance to $5.8B-$5.9B, non-GAAP operating margin to 30.0%-31.5%.
- Cash flow from operations $342M vs $515M YoY; free cash flow $318.9M vs $438.3M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000032/0001262039-24-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000032/ftnt-20240806.htm
  HTML page:      https://secwatch.observer/filing/0001262039-24-000032

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