Fortinet, Inc.
84.22-1.65 (-1.92%)
Oct 29, 4:00:02 PM EDT · NasdaqGS · FTNT · USD
Key Stats
Market Cap
64.53BP/E (TTM)
33.55Basic EPS (TTM)
2.51Dividend Yield
0%Recent Filings
8-K
Fortinet expands buyback program
Fortinet's board boosted its share repurchase program by $1 billion on August 21, 2025, lifting the total authorization to $9.25 billion and extending the expiration to February 28, 2027. With $1.23 billion now available, the company can buy back shares via open market or private deals, guided by market conditions and business needs. Repurchases remain flexible, with no fixed commitments. This signals strong confidence in Fortinet's value amid volatile markets.
10-Q
Q2 FY2025 results
Fortinet's Q2 revenue climbed 14% year-over-year to $1.63B, with product sales up 13% to $508.9M and services surging 14% to $1.12B, driven by strong security subscriptions that grew 15%. Gross margin held steady at 80.7%, while operating income rose 5% to $458M despite higher R&D and sales investments; diluted EPS increased to $0.57 from $0.49. Cash swelled to $3.37B, bolstered by $1.32B in six-month operating cash flow, though free cash flow dipped to $284M after $234M in capex for data centers and real estate buys totaling $185M in Q2. The Linksys acquisition closed in January for $42.3M cash, adding $17.5M in intangibles amortized over 4-5 years and a $39.9M bargain purchase gain. Debt stands at $995M (1.0-2.2% rates, maturing 2026-2031) with no covenants. Intense competition from Palo Alto and Cisco pressures margins.
8-K
Fortinet Q2 revenue up 14%
Fortinet reported Q2 2025 revenue of $1.63 billion, up 14% year over year, with billings rising 15% to $1.78 billion and non-GAAP operating margin at 33%. Unified SASE ARR surged 22%, while Security Operations ARR jumped 35%, signaling robust demand for integrated cybersecurity solutions. The company raised its full-year billings guidance midpoint by $100 million, yet economic risks like inflation and geopolitical tensions loom large.
8-K
Fortinet annual meeting results
Fortinet's stockholders at the June 13, 2025 annual meeting elected all nine board nominees, including Ken Xie and Michael Xie, with strong support exceeding 90% for most. They ratified Deloitte & Touche as auditors for 2025 and approved executive compensation on an advisory basis. Yet the push to split chairman and CEO roles failed decisively. This reinforces current leadership stability amid governance debates.
10-Q
Q1 FY2025 results
Fortinet kicked off FY2025 with solid momentum, posting total revenue of $1.54B for Q1 ended March 31, 2025—a 14% y/y jump from $1.35B, driven by 12% y/y product growth to $459.1M and 14% y/y service expansion to $1.08B, with security subscriptions up 16% y/y. Gross margin widened to 81.0% from 77.5% y/y, thanks to normalized inventory reserves, while operating income surged 41% y/y to $453.8M (29.5% margin) amid controlled expense growth; diluted EPS rose to $0.56 from $0.39 y/y, reconciling cleanly to 776.8M shares. Cash swelled to $3.60B, with operating cash flow at $863.3M yielding $782.8M free cash flow (derived); total debt stood at $994.9M (Senior Notes at 1.0%-2.2%, maturing 2026-2031) and revolver fully available. The January 2025 Linksys acquisition closed for $42.3M cash (100% ownership), recognizing $17.5M intangibles (amortized over undisclosed lives) and a $39.9M bargain purchase gain from deferred tax assets. Yet supply chain constraints linger as a key risk.
IPO
Website
Employees
Sector
Industry