secwatch.observer — SEC 8-K summary
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Issuer:     Fortinet, Inc. (FTNT)
CIK:        0001262039
Form:       8-K
Filed at:   2024-11-07T23:59:59+00:00
Accession:  0001262039-24-000040
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortinet Q3 revenue $1.51B (+13% YoY), record non-GAAP op margin 36.1%, raises FY2024 guidance
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- GAAP net income $539.9M ($0.70 EPS) vs $322.9M ($0.41 EPS) a year ago; non-GAAP EPS $0.63 vs $0.41.
- Revenue $1.51B (+13% YoY), service revenue $1.03B (+19.1%), product revenue $473.9M (+1.7%).
- Record GAAP operating margin 31.2% and non-GAAP operating margin 36.1%, up from 22.7% and 27.8% respectively.
- Board authorized $1B increase in share repurchase; remaining authorization $2.03B as of Nov 7.
- Raised FY2024 revenue guidance to $5.856-5.916B and non-GAAP op margin to 32.9-33.9% from prior.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000040/0001262039-24-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1262039/000126203924000040/ftnt-20241107.htm
  HTML page:      https://secwatch.observer/filing/0001262039-24-000040

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