Fortinet Inc

FTNT

Equity

ISIN US34959E1091 / Valor 10704017

NASDAQ (2024-09-17)

USD 75.61-0.96%

Fortinet Inc
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About company

Fortinet Inc. is a leading cybersecurity company that offers a wide range of solutions to protect people, devices, and data. With a strong focus on innovation, Fortinet holds a significant number of patents and has a dedicated R&D team based in North America. Led by experienced executives, including co-founders Ken Xie and Michael Xie, Fortinet has established itself as a key player in the cybersecurity industry. The company's flagship operating system, FortiOS, forms the foundation of the Fortinet Security Fabric, a comprehensive cybersecurity platform that integrates networking and security. With a portfolio of over 50 enterprise-grade products, Fortinet serves more than 730,000 customers worldwide, making it one of the most trusted and widely deployed cybersecurity solutions in the industry.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Fortinet Inc. reported total revenue of $1.43 billion for the second quarter of 2024, marking an increase of 10.9% compared to $1.29 billion for the same quarter of 2023. This growth highlights the company's strong market presence and successful business strategies.

Service Revenue Surge

Service revenue for Fortinet Inc. in the second quarter of 2024 was $982.4 million, up 19.8% from $820.2 million in the same quarter of 2023. This significant increase underscores the growing demand for Fortinet's service offerings.

Operating Margins

Fortinet Inc. achieved a record GAAP operating margin of 30.5% and a record Non-GAAP operating margin of 35.1% in the second quarter of 2024. These figures represent substantial improvements from the previous year's margins of 21.6% and 26.9%, respectively.

Net Income

GAAP net income for Fortinet Inc. in the second quarter of 2024 was $379.8 million, compared to $266.3 million in the same quarter of 2023. This increase in net income reflects the company's enhanced profitability and efficient cost management.

Cash Flow

Fortinet Inc. reported cash flow from operations of $342.0 million for the second quarter of 2024, compared to $515.1 million for the same quarter of 2023. Despite the decrease, the company continues to generate substantial cash flow, supporting its ongoing investments and growth initiatives.

Summarized from source with an LLMView Source

Key figures

23.9%1Y

26.2%3Y

376%5Y

Performance

42.7%1Y

45.3%3Y

45.0%5Y

Volatility