secwatch.observer — SEC 8-K summary
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Issuer:     Fortinet, Inc. (FTNT)
CIK:        0001262039
Form:       8-K/A
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001262039-24-000034
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortinet corrects non-GAAP EPS guidance for Q3 and FY 2024; raises revenue and margin outlook
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- Corrected non-GAAP EPS guidance: Q3 $0.50-$0.52, FY 2024 $2.00-$2.04 (17% tax rate, ~772M diluted shares).
- FY 2024 revenue guidance raised to $5.800B-$5.900B; non-GAAP op margin guidance raised to 30.0%-31.5%.
- Q2 2024: revenue $1.43B (+11% YoY); product rev -4.4%; service rev +19.8% to $982M.
- Record Q2 GAAP op margin 30.5%, non-GAAP op margin 35.1% (+820bps YoY).
- Q2 GAAP diluted EPS $0.49, non-GAAP diluted EPS $0.57; cash from ops $342M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000034/0001262039-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000034/ftnt-20240806.htm
  HTML page:      https://secwatch.observer/filing/0001262039-24-000034

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