SUNNYVALE, Calif., Jan. 05, 2026 (GLOBE NEWSWIRE) -- News Summary Fortinet® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, announced that it will hold a conference call to discuss its fourth quarter and full year 2025 financial results on Thursday, February 5, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Fortinet's financial results conference call will be broadcast live in listen-only mode on the company’s investor relations website at http://inv ...

Key Takeaways FTNT is seeing accelerating enterprise momentum for Unified SASE adoption across large customers.FTNT's FortiOS platform unifies firewall, SD-WAN & SASE, enabling rapid deployment versus multi-vendor setups.The Zacks Consensus Estimate for FTNT's 2026 revenues is pegged at $7.48B, implying 10.82% growth.Fortinet (FTNT) is positioning Unified SASE (secure access service edge) as a cornerstone of its growth strategy through architectural advantages that differentiate it in an increasingly compet ...

12月18日，专注推动网络与安全融合的全球性综合网络安全解决方案供应商Fortinet，在京成功举办 2025年终媒体会。恰逢公司成立25周年、进入中国市场23年的重要节点，Fortinet中国区总经理李宏 凯、中国区技术总监张略、北亚区OT业务负责人王宏善及首席攻防专家王涛等悉数出席，共同回顾 2025年网络安全行业关键词，深入展望2026年网络安全图景，并深度解析公司在AI驱动安全领域的战 略规划与技术成果，全面展示Fortinet从集成化安全平台到AI驱动自动化防御的演进之路。 稳健增长，平台战略筑牢企业安全底座 "安全技术的演进必须稳健务实。Fortinet不会追逐短期技术热点，而是以统一操作系统FortiOS为核心， 构建覆盖安全网络、统一SASE、AI驱动安全运营的融合架构，坚持将每一类产品深度集成至Security Fabric统一平台中，这正是我们在过去25年，尤其是近两年市场波动中保持增长的核心，"李宏凯强调。 2025年，Fortinet的统一SASE、AI驱动的安全运营（SecOps）与OT解决方案成为增长最快的业务板 块。 攻击工业化，防御应迈向机器速度时代 张略在解读《2026年网络 ...

Key Takeaways Fortinet posted Q3 2025 revenues of $1.72B, with record 37% non-GAAP operating margins and 18% product growth.FTNT's FortiSASE billings jumped over 100% year over year, lifting unified SASE ARR to $1.22B.Cisco saw 8% revenue growth in Q1 FY26, but security revenues fell 2% despite strong AI infrastructure orders.Fortinet (FTNT) and Cisco (CSCO) stand as formidable players in the cybersecurity industry, both delivering comprehensive network security solutions to enterprises worldwide. Fortinet ...

Fortinet (NasdaqGS:FTNT) Q3 2025 Earnings Call November 05, 2025 04:30 PM ET Company ParticipantsFatima Boolani - Managing DirectorShrenik Kothari - Sector Head DirectorShaul Eyal - Managing Director of Equity ResearchJohn Whittle - COORob Owens - Head of Technology ResearchGray Powell - Managing DirectorBrian Essex - Executive DirectorKen Xie - Founder, Chairman, and CEOBrad Zelnick - Managing DirectorChristiane Ohlgart - CFOIttai Kidron - Managing DirectorAnthony Luscri - VP of Investor RelationsConferenc ...

Financial Data and Key Metrics Changes - Total billings grew by 14% to $1.81 billion, with revenue increasing by 14% to $1.72 billion [11][13] - Unified SaaS billings grew 19%, while SecOps saw a 33% increase [11][12] - Operating margin reached a record 37%, with total gross margin at 81.6% [18][19] Business Line Data and Key Metrics Changes - Unified SaaS and SecOps now account for 26% and 11% of total billings, respectively, reflecting a combined increase of three percentage points [11] - Product revenue increased by 18% to $559 million, driven by strong performance in multi-product deals and operational technology security [14] - Service revenue grew by 13% to $1.17 billion, indicating a healthy demand for services [14] Market Data and Key Metrics Changes - EMEA led revenue growth, followed by APAC and the Americas [13] - The number of deals greater than $1 million increased by 26%, with their total dollar value growing by over 30% [12] Company Strategy and Development Direction - The company aims to become the number one SaaS market leader in the coming years, leveraging its unique integration of NextGen Firewall, SD-WAN, and SaaS on a single operating system [6][8] - Continued investment in cloud delivery infrastructure and strategic partnerships is planned to enhance market presence [23] - The rise of AI is expected to drive demand for Fortinet's solutions, particularly in securing AI workloads [23][106] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the rule of 45 for the sixth consecutive year, expecting continued growth in demand for cybersecurity solutions [22] - The company anticipates product revenue growth to remain solid, driven by multiple growth drivers including new features and customer upgrades [67][113] Other Important Information - Free cash flow reached $568 million, with adjusted free cash flow up to $646 million, representing a margin of 37% [18] - The company repurchased 23.3 million shares for an aggregate purchase price of $1.83 billion, reducing the total share count by approximately 3% [19] Q&A Session Summary Question: Product revenues went up 18%, below expectations. What are the drivers? - Management attributed growth to strong demand across various segments, including SaaS and operational technology, rather than end-of-service upgrades [27][30] Question: Why is the guidance for next quarter less inspiring? - Management indicated that service revenue is a leading indicator of future performance, and product revenue growth is expected to positively impact service revenue in the future [33][34] Question: What is the trajectory of services growth in the next 12 months? - Management expects service revenue growth to improve in the second half of 2026 due to increased product sales and customer behavior [41][42] Question: Can you elaborate on the eight-figure deal with the police force? - The deal involved a combination of product and services, with a focus on sovereign SaaS to meet local data governance requirements [47][48] Question: What is the rate of SaaS penetration from the SD-WAN install base? - Management noted that 15% of large enterprise customers are now using Fortinet SaaS, indicating strong adoption and growth potential [60][61] Question: How is the company positioned in the operational technology security market? - Management highlighted significant growth potential in OT security, with a unique approach to securing diverse devices across various industries [77] Question: What are the growth drivers for product revenue next year? - Management is confident in continued product growth driven by new features, customer upgrades, and strong demand in operational technology [67][113]

Financial Data and Key Metrics Changes - Total billings grew by 14% to $1.81 billion, with revenue increasing by 14% to $1.72 billion [11][12] - Operating margin reached a record 37%, with total gross margin at 81.6% [18] - Free cash flow was strong at $568 million, with year-to-date free cash flow reaching $1.63 billion, up $135 million [18] Business Line Data and Key Metrics Changes - Unified SaaS billings grew by 19%, with Fortinet SaaS billings growth exceeding 100% [5][11] - SecOps billings increased by 33%, contributing to overall growth [11] - Product revenue rose by 18% to $559 million, driven by strong performance in multi-product deals and operational technology security [13] Market Data and Key Metrics Changes - EMEA led revenue growth, followed by APAC and the Americas [12] - 15% of large enterprise customers are now using Fortinet SaaS, representing a 55% increase [6][11] - Operational technology solutions saw over 30% billing growth, indicating strong demand in that segment [10][12] Company Strategy and Development Direction - Fortinet aims to become the number one SaaS market leader in the coming years, leveraging its unique integration of NextGen Firewall, SD-WAN, and SaaS on a single operating system [5][6] - The company plans to continue investing in its go-to-market strategy, including cloud delivery infrastructure and strategic partnerships [23] - Fortinet's leadership in firewall and secure networking is supported by its proprietary ASIC technology, which enhances performance and reduces total cost of ownership [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the rule of 45 for the sixth consecutive year, expecting continued strong growth driven by increased cybersecurity spending and vendor consolidation [21][22] - The rise of AI is anticipated to further boost demand for Fortinet's solutions, particularly in securing AI workloads [23][60] - Management noted that product revenue growth is expected to remain solid, with multiple growth drivers identified [43][62] Other Important Information - The company repurchased 23.3 million shares for $1.83 billion in Q3, reducing the total share count by approximately 3% [19] - Infrastructure investments were $88 million, reflecting ongoing efforts to expand data center capabilities [18] Q&A Session Summary Question: What are the drivers behind the product revenue growth? - Management indicated strong demand across SaaS, SecOps, and operational technology as key growth drivers, with the end of service not being a significant factor [24][25] Question: Why is the guidance for next quarter considered uninspiring? - The guidance reflects the impact of service revenue, which is influenced by prior product revenue performance [28][29] Question: What is the trajectory of services revenue growth? - Management expects service revenue growth to improve in the second half of 2026, driven by stronger product revenue [31][32] Question: Can you elaborate on the eight-figure deal with the police force? - The deal involved a combination of SD-WAN and Sovereign SaaS, highlighting Fortinet's unique advantage in providing flexible deployment options [34][35] Question: How does Fortinet plan to leverage its SaaS business? - Fortinet aims to accelerate SaaS adoption by leveraging its existing customer base and enhancing the integration of its solutions [37][39] Question: What is the outlook for product revenue growth next year? - Management remains confident in continued product revenue growth, supported by new technology launches and market opportunities [43][62]

Core Insights - 87% of cybersecurity professionals believe AI will enhance their roles, providing efficiency and relief amid ongoing skill shortages [3][4] - The 2025 Global Cybersecurity Skills Gap Report highlights a critical shortage of over 4.7 million skilled professionals, leading to unfilled security roles and increased breach rates [2][4] - Organizations are increasingly adopting AI-enabled cybersecurity solutions, with 97% either using or planning to implement such technologies [4][5] Cybersecurity Skills Gap - The report indicates that 86% of organizations experienced at least one cyber breach in 2024, a rise from 80% in 2021, with 28% reporting five or more breaches [4] - More than 50% of respondents cited a lack of IT security skills and training as a leading cause of breaches [4] - Financial impacts of breaches are significant, with 52% of organizations reporting costs exceeding $1 million in 2024, up from 38% in 2021 [4] AI in Cybersecurity - While AI can alleviate pressure on security teams, nearly half (48%) of IT decision-makers identify a lack of staff with sufficient AI expertise as a major challenge [4][5] - 80% of surveyed professionals believe AI is making their teams more effective, but 76% of organizations that faced nine or more cyberattacks in 2024 had AI tools in place, indicating that mere adoption is insufficient without expertise [4][5] Board-Level Focus - Cybersecurity is increasingly recognized as a board-level priority, with 76% of boards increasing their focus on the issue in 2024 [9] - However, fewer than half (49%) of board members fully understand the risks associated with AI, highlighting a gap in awareness [9] Upskilling and Training - The report emphasizes the need for organizations to invest in training and upskilling to close the cybersecurity skills gap [5][6] - Fortinet aims to train 1 million people in cybersecurity globally by the end of 2026, reflecting a commitment to addressing the skills shortage [7]

Core Insights - Fortinet (FTNT) is focusing on two rapidly growing areas in cybersecurity: Secure Access Service Edge (SASE) and Security Operations (SecOps) to strengthen its position in integrated network security [1][12] Business Strategy - In late 2025, Fortinet advanced its unified SASE platform and AI-driven SecOps capabilities, being recognized as a Leader in the 2025 Gartner Magic Quadrant for SASE Platforms, with increased momentum from multi-product enterprise deals [2] - Fortinet expanded its partnership with Armis to enhance asset visibility and AI-led threat detection, emphasizing automation, scalability, and long-term growth in intelligent security solutions [3] - The company’s unified FortiOS architecture integrates all core SASE elements, simplifying deployment and improving operational efficiency for global customers [5] Financial Performance - Fortinet raised its full-year 2025 billing guidance by $100 million to $7.44 billion, indicating a 14% year-over-year growth driven by strong demand for FortiSASE and SecOps offerings [6][12] - In Q2 2025, SASE and SecOps billings increased by 21% and 31% year-over-year, respectively, showcasing accelerating enterprise adoption [7] Competitive Landscape - Fortinet's main competitor, Palo Alto Networks (PANW), utilizes advanced next-generation firewalls and AI-driven platforms, although its premium pricing may deter cost-sensitive organizations [8][9] - Cisco Systems (CSCO) competes by integrating security across its networking ecosystem, leveraging its scale and infrastructure, though it is less specialized in niche security domains compared to Fortinet [10] Valuation and Earnings Estimates - Fortinet's shares have declined by 8.6% year-to-date, underperforming the Zacks Security industry's 21% growth and the broader Computer and Technology sector's 22.7% increase [13] - The company appears overvalued with a forward 12-month price-to-sales ratio of 8.98, higher than the sector average of 6.94 [15] - The Zacks Consensus Estimate for Fortinet's earnings is $2.52 per share for 2025 and $2.78 per share for 2026, indicating year-over-year earnings growth of 6.33% for 2025 and 10.18% for 2026 [18]

Core Insights - Fortinet is participating in the World Economic Forum (WEF) Annual Meeting on Cybersecurity in Dubai from October 14-16, marking its fifth consecutive year at the event [1][2] - The company emphasizes the importance of public-private partnerships in enhancing global cyber resilience and addressing the evolving threat landscape influenced by AI [2][7] - Fortinet is actively involved in initiatives such as the Partnership Against Cybercrime and the Cybercrime Atlas, contributing to the development of frameworks for collaboration and intelligence sharing [3][10] Company Initiatives - Fortinet's Chief Security Strategist, Derek Manky, will participate in a panel discussion titled "Scaling Disruption: The Next Chapter in Cybercrime Collaboration," focusing on leveraging private sector expertise to combat cybercrime [2][6] - The Cybercrime Atlas, launched in 2024, aims to coordinate efforts across sectors to map and disrupt cybercriminal activities, with contributors sharing over 10,000 actionable data points in its first year [3][12] - Fortinet is a founding partner of the WEF Centre for Cybersecurity and has contributed to the Strategic Cybersecurity Talent Framework and AI and Cyber Initiative [2][3] Industry Context - According to the WEF's Global Cybersecurity Outlook 2025 report, over 70% of global leaders perceive rising cybersecurity risks, highlighting the need for collaboration and interdisciplinary approaches to strengthen defenses [7][8] - The Annual Meeting on Cybersecurity is being held alongside the Annual Meeting of the Global Future Councils 2025, aiming to leverage insights from various stakeholders to address cybersecurity challenges [8]