Highest-materiality recent filing
Fortinet Q2 revenue $2.05B (+26% YoY), beats guidance; raises FY2026 outlook
Q2 revenue $2.05B (+26% YoY), product revenue $773M (+52% YoY); GAAP EPS $0.82 (+44% YoY), non-GAAP EPS $0.90 (+41% YoY).
Fortinet stockholders elect nine directors, ratify auditor at annual meeting
All nine director nominees elected with majority support; Ken Xie received 529.8M votes for.
Fortinet beats Q1 guidance, raises FY2026 revenue outlook to ~15% growth
Q1 revenue $1.85B (+20% YoY), GAAP EPS $0.72 (+29%), non-GAAP EPS $0.82 (+41%).
Q4 revenue $1.91B (+15% YoY); product revenue $691M (+20%); billings $2.37B (+18%)
Fortinet Q3 revenue $1.72B (+14% YoY); record non-GAAP op margin 37%
Revenue $1.72B (+14% YoY); product revenue $559.3M (+18%); billings $1.81B (+14%).
Fortinet increases share repurchase authorization by $1B to $9.25B, extends to 2027
Board authorized $1B increase to share repurchase program, total authorized now $9.25B.
Fortinet Q2 revenue $1.63B (+14% YoY); raises full-year billings guidance
Revenue $1.63B (+14% YoY); billings $1.78B (+15% YoY); GAAP op margin 28%, non-GAAP 33%.
Fortinet shareholders elect all nine director nominees, reject CEO/Chairman split proposal
All nine director nominees elected; Ken Xie received 547M votes for (93.5% of votes cast excluding broker non-votes).
Fortinet appoints Christiane Ohlgart as CFO effective May 15, 2025
Ohlgart succeeds Keith Jensen, who retired on May 15, 2025, as previously disclosed.
Fortinet Q1 revenue $1.54B (+14% YoY); non-GAAP EPS $0.58; record margins and cash flow
Revenue $1.54B (+13.8% YoY), product rev $459M (+12.3%), billings $1.60B (+13.5%).
Fortinet Q4 revenue up 17% to $1.66B; GAAP EPS $0.68; CFO Jensen to retire, Ohlgart named successor
Q4 revenue $1.66B (+17% YoY); product rev $574M (+18%); service rev $1.09B (+17%).
Fortinet appoints Janet Napolitano to Cybersecurity Committee effective Jan 17, 2025
Director Janet Napolitano was added to the Board's Cybersecurity Committee on January 17, 2025.
Fortinet appoints Janet Napolitano to Board, effective Nov 7, 2024
Board expanded from 9 to 10; vacancy filled by former DHS Secretary Napolitano.
Fortinet Q3 revenue $1.51B (+13% YoY), record non-GAAP op margin 36.1%, raises FY2024 guidance
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.
Fortinet corrects non-GAAP EPS guidance for Q3 and FY 2024; raises revenue and margin outlook
Corrected non-GAAP EPS guidance: Q3 $0.50-$0.52, FY 2024 $2.00-$2.04 (17% tax rate, ~772M diluted shares).
Fortinet Q2 revenue $1.43B (+11% YoY); record operating margins; raises 2024 guidance
Total revenue $1.43B (+11% YoY); record GAAP operating margin 30.5% and non-GAAP 35.1%.
Fortinet appoints director Maggie Wilderotter to Governance Committee
Board placed Maggie Wilderotter on the Governance Committee effective July 19, 2024.
Fortinet shareholders elect all nine director nominees, ratify auditor, approve say-on-pay
All nine director nominees elected with votes ranging from 553.7M to 584.4M for, including Ken Xie and Michael Xie.
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%).
Fortinet appoints Maggie Wilderotter to board, Christiane Ohlgart as CAO
Board expanded from 8 to 9; Wilderotter appointed effective April 19, 2024; served on over 30 public company boards.
Fortinet Q4 revenue $1.42B (+10.3% YoY); guides FY2024 revenue $5.72-5.82B
Q4 GAAP diluted EPS $0.40 (flat YoY); non-GAAP diluted EPS $0.51 (up from $0.44).
Fortinet appoints John Whittle as COO; he continues as Corporate Secretary
John Whittle appointed COO effective Jan 15, 2024; retains role as Corporate Secretary.
Fortinet CRO Patrice Perche to retire mid-2024 after 19 years
Patrice Perche, Fortinet's Chief Revenue Officer and EVP of Support, notified the company of his retirement in mid-2024.
Fortinet Q3 revenue up 16% to $1.33B, product revenue declines 0.6%; guides Q4 revenue $1.38-1.44B
Total revenue $1.33B (+16% YoY); product revenue $465.9M (-0.6% YoY) as Secure Networking demand normalizes.
Fortinet Q2 revenue up 26% to $1.29B; GAAP EPS $0.33 beats; raises buyback authorization by $1.5B
Total revenue $1.29B (+26% YoY); product rev $472.6M (+18%), service rev $820.2M (+30%).
Fortinet shareholders approve removal of supermajority voting and officer exculpation amendments
Approved removal of supermajority voting requirement with 604,289,555 votes for and 1,586,630 against.
Revenue $1.26B (+32% YoY); product rev $500.7M (+35%), service rev $761.6M (+30%).
Fortinet amends bylaws to update proxy rules and advance notice provisions
Bylaws amended Feb 5, 2023 to comply with universal proxy rules and recent DGCL changes.
Fortinet Q4 revenue $1.28B (+33% YoY); FY22 revenue $4.42B, record FCF $1.45B
Q4 GAAP EPS $0.40, non-GAAP EPS $0.44, up 67% and 76% YoY respectively.
Fortinet Q3 revenue up 33% to $1.15B; non-GAAP EPS $0.33 vs $0.20 YoY
Revenue $1.15B (+33% YoY); product $468.7M (+39%), service $680.8M (+28%).
Fortinet Q2 revenue $1.03B (+29% YoY); bookings up 42% to $1.38B; guides Q3 rev $1.105-1.135B
Product revenue $400.7M (+34% YoY); service revenue $629.4M (+25% YoY).
Fortinet implements 5-for-1 forward stock split and increases authorized shares
Stock split took effect June 22, 2022; each existing share converted into five shares.
Fortinet shareholders approve 5-for-1 forward stock split and remove supermajority voting
Stockholders approved a 5-for-1 forward stock split via amended and restated certificate of incorporation (135.6M for, 124K against).
Fortinet Q1 revenue $954.8M (+34% YoY), product revenue +54%; guides Q2 above consensus
GAAP diluted EPS $0.84 vs $0.64 YoY; non-GAAP diluted EPS $0.94 vs $0.81.
Fortinet director Kelly Ducourty will not stand for reelection at June 2022 annual meeting
Kelly Ducourty notified Fortinet board on April 28, 2022 of decision not to seek reelection.
Fortinet proposes 5-for-1 forward stock split, seeking shareholder approval at 2022 Annual Meeting
Company filed preliminary proxy on April 22, 2022 requesting vote on Charter Amendment to increase authorized shares and implement a 5:1 forward stock split.
Fortinet Q4 revenue $963.6M (+29% YoY), non-GAAP EPS $1.23; FY22 rev guidance $4.275-4.325B
Q4 total revenue $963.6M (+28.8% YoY); product rev $378.9M (+31.4%), service rev $584.7M (+27.2%).
Fortinet appoints Admiral Stavridis to Social Responsibility Committee
Admiral James Stavridis appointed to Fortinet's Social Responsibility Committee, effective January 21, 2022.
Fortinet Q3 revenue $867M (+33% YoY); billings exceed $1B for first time
Product revenue $337M (+51% YoY); service revenue $530M (+24% YoY).
Fortinet appoints Admiral James Stavridis to Board of Directors
Board size increased from 8 to 9; appointment effective Oct 22, 2021.
Fortinet Q2 2021 revenue $801M (+30% YoY); raises full-year guidance
Revenue $801.1M (+30% YoY); product $298.3M (+41%); service $502.8M (+24%)
Keith Jensen, the Company’s Chief Financial Officer, age 66, had notified the Company that he intended to retire on May 15, 2025
the Board of Directors (the “Board”) of the Company appointed Ms. Ohlgart to serve as the Company’s Chief Financial Officer (including as its Principal Financial Officer), effective as of the Retirement.
Effective as of and contingent upon the Retirement, the Company intends to appoint Christiane Ohlgart, age 57, to serve as Chief Financial Officer of the Company (including as its Principal Financial Officer).
On February 4, 2025, Keith Jensen, Fortinet’s Chief Financial Officer, age 66, notified the Company that he intends to retire on May 15, 2025
On November 6, 2024, the Board of Directors (the “Board”) of Fortinet, Inc. (the “Company”) increased the size of the Board from nine to ten directors and filled the newly created vacancy on the Board by appointing Janet Napolitano to join the Board as a director, in each case, effective November 7, 2024.
the Company appointed Christiane Ohlgart, age 56, to serve as Chief Accounting Officer of the Company (including as its Principal Accounting Officer), effective March 18, 2024.
On January 15, 2024, John Whittle was appointed the Chief Operating Officer of Fortinet, Inc. (“Fortinet”).
On November 28, 2023, Patrice Perche, Fortinet’s Chief Revenue Officer and Executive Vice President of Support, age 61 years old, notified Fortinet, Inc. (the “Company”) that he intends to retire in mid-2024 after approximately 19 years of service in various roles at the Company.
On April 28, 2022, Kelly Ducourty notified the Board of Directors (the “Board”) of Fortinet Inc. (“Fortinet”) of her decision not to stand for reelection to the Board at Fortinet’s Annual Meeting of Stockholders to be held on June 17, 2022 (the “Annual Meeting”).
filled the newly created vacancy on the Board by appointing Admiral James Stavridis to join the Board as a director, in each case, effective October 22, 2021.
Max materiality 0.85 · Median 0.70 · Most common event earnings