As filed with the U.S. Securities and Exchange Commission on February 12, 2026. Registration No. 333-293008 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Sky Acquisition Group (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Cayman Islands 6770 N/A (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identifica ...

Core Insights - Fortinet Inc. reported strong first-quarter 2025 results, with both earnings and revenues exceeding expectations and showing year-over-year improvement [1][2]. Financial Performance - Non-GAAP EPS for Q1 2025 was 58 cents, beating the Zacks Consensus Estimate by 9.43%, and up 34.9% from 43 cents in the same quarter last year [1]. - Total revenues reached $1.54 billion, surpassing the consensus mark by 0.21% and reflecting a 13.8% year-over-year increase, driven by growth in services and product revenues [2]. - Product revenues increased by 12.3% year over year to $459.1 million, with notable growth in both hardware and software solutions [3]. - Service revenues grew 14.4% year over year to $1.08 billion, accounting for 70% of total revenues, with security subscriptions rising 16% [4]. Growth Metrics - Fortinet added over 6,300 new logos in Q1, supported by investments in channel partners [2]. - Remaining Performance Obligations (RPO) grew 12% to $6.5 billion, while total billings rose 14% to $1.6 billion, driven by growth in AI-driven SecOps and Unified SASE [2]. - AI-driven Security Operations billings increased by 29%, representing 10% of Fortinet's business [5]. Margins and Efficiency - Total gross margin increased by 380 basis points to 81.9%, exceeding the high end of the guided range by 90 basis points [6]. - Operating margin reached a record 34.2%, up 570 basis points, reflecting strong gross margins and cost efficiencies [7]. Cash Flow and Balance Sheet - Fortinet ended Q1 2025 with cash and cash equivalents of $4.78 billion, an increase from $4 billion at the end of Q4 2024 [8]. - Cash flow from operations was $863.3 million, compared to $830.4 million in Q1 2024, while free cash flow rose to $782.8 million from $608.5 million [9]. Guidance - For Q2 2025, Fortinet estimates revenues between $1.59 billion and $1.65 billion, with billings expected between $1.685 billion and $1.765 billion [10]. - For the full year 2025, revenues are projected between $6.65 billion and $6.85 billion, with services revenues expected between $4.575 billion and $4.725 billion [11].