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Financial Performance - Q4 2016 - Fortinet's Q4 2016 billings reached $463 million, a 22% year-over-year increase compared to $381 million in Q4 2015[4] - Revenue for Q4 2016 was $363 million, also a 22% increase from $297 million in Q4 2015[4] - The company's Q4 2016 operating income was $81 million, a 71% increase compared to $48 million in Q4 2015[4] - Q4 2016 net income was $53 million, a 64% increase from $32 million in Q4 2015[4] - Earnings per share for Q4 2016 were $030, a 67% increase from $018 in Q4 2015[4] - Deferred revenue reached $104 billion, a 31% increase from $791 million in Q4 2015[4] Financial Performance - Full Year 2016 - Full year 2016 billings totaled $1515 billion, a 23% increase compared to $1232 billion in 2015[20] - Revenue for 2016 was $1275 billion, a 26% increase from $1009 billion in 2015[20] - Operating income for 2016 was $193 million, a 45% increase compared to $133 million in 2015[20] - Net income for 2016 was $130 million, a 45% increase from $89 million in 2015[20] Revenue Segmentation & Growth - In Q4 2016, Entry-Level FortiGate billings accounted for 30%, Mid-Range for 29%, and High-End for 41% of total FortiGate billings[9] - Revenue from the APAC region grew by 23% from Q4 2015 to Q4 2016[17] - Revenue from the EMEA region grew by 22% from Q4 2015 to Q4 2016[17] - Revenue from the Americas grew by 22% from Q4 2015 to Q4 2016[17] - In Q4 2016, the Americas accounted for 41% of revenue, EMEA for 39%, and APAC for 20%[15] Guidance - The company projects Q1 2017 billings between $380 million and $388 million, representing a 16% year-over-year growth[24] - The company projects Q1 2017 revenue between $330 million and $335 million, representing a 17% year-over-year growth[24] - The company projects full year 2017 billings between $1750 billion and $1770 billion, representing a 16% year-over-year growth[24] - The company projects full year 2017 revenue between $1470 billion and $1480 billion, representing a 16% year-over-year growth[24]

Q4 2017 Financial Performance - Billings reached $534 million, a 15% year-over-year increase compared to $463 million in Q4 2016[4] - Revenue totaled $417 million, up 15% from $363 million in Q4 2016[4] - Free cash flow surged to $144 million, a 71% increase from $84 million in Q4 2016[4] - Deferred revenue grew by 29% year-over-year, reaching $1336 billion compared to $1035 billion in Q4 2016[4] Full Year 2017 Financial Performance - Billings for 2017 amounted to $1796 billion, a 19% increase from $1515 billion in 2016[24] - Revenue for 2017 reached $1495 billion, a 17% increase from $1275 billion in 2016[24] - Free cash flow for 2017 was $459 million, a 65% increase from $279 million in 2016[24] - Net income for 2017 was $185 million, a 43% increase from $130 million in 2016[24] Q1 and Full Year 2018 Guidance - The company projects Q1 2018 billings to be between $449 million and $457 million, representing a 12% year-over-year growth[28] - The company anticipates full year 2018 billings to be between $2030 billion and $2050 billion, representing a 14% year-over-year growth[28] - The company expects full year 2018 revenue to be between $1695 billion and $1715 billion, representing a 14% year-over-year growth[28]

Financial Performance (Q1'25) - Total revenue reached $518.6 million[36] - Gross margin was 16.7%[36] - Operating margin was 5.2%[36] - Operating cash flow amounted to $28.2 million[36] - Cash balance stood at $317.6 million[36] - Earnings per share (EPS) was $0.28[36] Segment Performance (Q1'25) - Products revenue was $457.0 million with a gross margin of 14.9% and an operating margin of 4.6%[37] - Services revenue was $61.6 million with a gross margin of 29.8% and an operating margin of 10.2%[37] Q2'25 Guidance - Revenue is projected to be between $475 million and $525 million[38] - EPS is expected to be between $0.17 and $0.37[38] Growth Strategy - The company has a proven growth strategy through acquisitions, as demonstrated by past purchases that led to significant revenue growth and gross margin expansion[7]

Financial Performance - Full Year 2024 - The company's full-year organic revenue grew by 12%[8], driven by a 23% increase in AMS/DRS (ATM Managed Services/Digital Retail Solutions) and a 9% increase in CVM (Cash & Valuables Management) organic revenue[8] - Adjusted EBITDA for the full year was $912 million, representing an 18.2% margin, which expanded by 40 basis points[8] - Full-year Free Cash Flow reached $400 million, with a 44% conversion rate from EBITDA growth and working capital management[8] - The company returned $245 million, or 61% of Free Cash Flow, to shareholders through share repurchases and dividends[8] Financial Performance - Fourth Quarter 2024 - Fourth-quarter organic revenue increased by 11%[8], with AMS/DRS growing by 23% and CVM growing by 7%[8] - Adjusted EBITDA for the fourth quarter was $251 million, resulting in a 19.9% margin[8] - Fourth-quarter EPS (Earnings Per Share) was $2.12[8] - Free Cash Flow for the fourth quarter was $302 million, with a 120% conversion rate due to strong working capital performance[8] Strategic Initiatives and Growth - The company delivered an incremental $200 million of higher-margin AMS/DRS revenue during the year[8] - AMS/DRS revenue represented 24% of total revenue, with accelerated organic growth of 23%[8] - AMS/DRS revenue has increased by approximately 130% since 2021[22] 2025 Guidance Framework - The company anticipates mid-single-digit organic growth for the full year 2025[8] - AMS/DRS organic growth is projected to be in the mid-to-high teens[8] - Adjusted EBITDA margin is expected to expand by 30-50 basis points[8] - Free Cash Flow conversion is projected in the mid-40% range[8]