Financial Data and Key Metrics Changes - The company demonstrated strong growth with product revenue increasing by 35% and services revenue by 30% [2][3] - The average contract term has decreased from 29 months to 26 months over the last four quarters, indicating a shift in customer behavior towards shorter contracts [7] Business Line Data and Key Metrics Changes - The cybersecurity market is projected to reach $280 billion by 2026, with a focus on secure networking, cybersecurity, and operational technology security [4] - The network firewall market is valued at $15 billion to $16 billion, with unexpected growth driven by new use cases such as distributed firewalls [12][13] Market Data and Key Metrics Changes - The small and medium-sized business (SMB) segment performed well in Q1, affirming that cybersecurity spending is essential regardless of economic conditions [3] - Europe also showed resilience in the first quarter, further supporting the notion that cybersecurity is a necessary investment [3] Company Strategy and Development Direction - The company aims to consolidate its market position by offering integrated solutions that combine various security functions, such as SD-WAN and firewalls [4][18] - The strategy includes expanding into new markets like SASE (Secure Access Service Edge) while maintaining a focus on existing product lines [27][30] Management's Comments on Operating Environment and Future Outlook - Management noted that the evolving threat landscape, infrastructure changes, and regulatory compliance are driving demand for cybersecurity solutions [9][10] - Customers are taking longer to make purchasing decisions due to the complexity of digital infrastructure, but they are still committed to investing in security [10] Other Important Information - The company is investing in cloud capacity and data center infrastructure to support its growth strategy, particularly in SASE [36][37] - There is a focus on automation and AI to enhance operational efficiency and response times in cybersecurity [68] Q&A Session Summary Question: How does the company view the current operating environment? - Management acknowledged mixed signals in the market but emphasized the necessity of cybersecurity spending [2][3] Question: What are the components of the company's success? - The company highlighted its ability to consolidate market share and product offerings as key advantages [2] Question: How is customer behavior changing? - Management noted a trend towards shorter contract terms and longer decision-making processes due to economic concerns [6][7] Question: How does the company plan to compete with Microsoft? - The company sees Microsoft as both a competitor and a partner, emphasizing its unique position in the secure networking space [41] Question: What is the strategy for entering new markets? - The company is focusing on integrating its existing products into new offerings like SASE while ensuring they work together efficiently [27][30] Question: How does the company plan to address the changing go-to-market strategy? - Management discussed the need for specialized sales teams and training to adapt to the evolving product landscape [48][49]

Fortinet, Inc. (NASDAQ:FTNT) 51st Annual JPMorgan Global Technology, Media and Communications Conference Call May 23, 2023 10:10 AM ET Company Participants Keith Jensen - CFO & CAO Ken Xie - Founder, Chairman & CEO Conference Call Participants Brian Essex - JPMorgan Chase & Co. Brian Essex All right. Good morning, everyone. Thank you for joining us today. My name is Brian Essex, I'm JPMorgan cybersecurity analyst. And with me today, I have Ken Xie, he's Fortinet's Chairman, CEO and Co-Founder; and to his ri ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34511 ______________________________________ FORTINET, INC. (Exact name of registrant as specified in its charter) ____________ ...

Fortinet, Inc. (NASDAQ:FTNT) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET Company Participants Peter Salkowski - Senior Vice President of Finance and Investor Relations Ken Xie - Founder, Chairman of the Board, and Chief Executive Officer Keith Jensen - Chief Financial Officer Conference Call Participants Brian Essex - JP Morgan Gabriela Borges - Goldman Sachs Fatima Boolani - Citibank Saket Kalia - Barclays Shaul Eyal - TD Cowen Rob Owens - Piper Sandler Adam Borg - Stifel Ittai Kidron - Oppenhe ...

Q1 2023 Financial Results Safe Harbor Statement Information, statements and projections contained in these presentation slides and related conference call concerning Fortinet’s business outlook, the second quarter and full year 2023 guidance, and future prospects and expectations are forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding any indications related to future market share gains, guidance and expectations around future financ ...

Safe Harbor Statement Information, statements and projections contained in these presentation slides concerning Fortinet’s business outlook, the first quarter and full year 2023 guidance, and future prospects and expectations are forward-looking statements that involve risks and uncertainties. These forward-looking statementsinclude statements regarding any indications related to future market share gains, guidance and expectations around future financial results, including guidance and expectations for the ...

Fortinet, Inc. (NASDAQ:FTNT) Morgan Stanley Technology, Media & Telecom Conference March 7, 2023 6:20 PM ET Company Participants Ken Xie - Founder, Chairman of the Board, and Chief Executive Officer Keith Jensen - Chief Financial Officer Conference Call Participants Hamza Fodderwala - Morgan Stanley Hamza Fodderwala All right. Well, good afternoon, everybody. I hope everyone is doing well. My name is Hamza Fodderwala. I'm the US cybersecurity analyst here at Morgan Stanley. And with me, I have the pleasure ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34511 ______________________________________ FORTINET, INC. (Exact name of registrant as specified in its charter) ________________________ ...

Fortinet, Inc. (NASDAQ:FTNT) Q4 2022 Earnings Conference Call February 7, 2023 4:30 PM ET Company Participants Peter Salkowski - Senior Vice President of Finance and Investor Relations Ken Xie - Founder, Chairman of the Board, and Chief Executive Officer Keith Jensen - Chief Financial Officer Conference Call Participants Brian Essex - JPMorgan Fatima Boolani - Citi Saket Kalia - Barclays Hamza Fodderwala - Morgan Stanley Brad Zelnick - Deutsche Bank Shaul Eyal - Cowen Adam Borg - Stifel Tal Liani - Bank of ...