Key Takeaways Fortinet is gaining traction with its unified SASE platform, integrating multiple security functions. The company is enhancing SASE with cloud-native tools to secure hybrid and multi-cloud workloads. Intensifying competition and a cautious outlook are weighing on investor sentiment toward FTNT.Fortinet (FTNT) is strengthening its enterprise cybersecurity position through a unified Secure Access Service Edge (SASE) strategy that combines next-generation firewall, SD-WAN, secure web gateway an ...

Key Takeaways CSCO's Q3 product revenues rose 15% to $10.37B, led by strong gains in Security and Observability segments. Product ARR climbed 8% as CSCO shifted toward software-based offerings and recurring revenue streams. CSCO secured over $1B in AI infrastructure orders, aided by its NVIDIA partnership and AI Canvas launch.Cisco Systems (CSCO) is expanding its lead in network security and intelligent infrastructure through an innovative portfolio. In the third quarter of fiscal 2025, the company report ...

随着AI技术浪潮来袭，网络安全行业正面临前所未有的变革与挑战。近日，在网络安全行业年度盛会 ——Accelerate2025北亚巡展.北京站，Fortinet高管团队就AI技术驱动的安全防御体系重构、网络与安全 的原生融合实践、全球化场景下的SASE技术落地等议题展开深入研讨。 Fortinet中国区总经理李宏凯指出，企业的数字化转型是一个谈了很多年的方向，无论是对个体来说还 是企业来说，都无法避免全面数字化的战略。他表示，在这样一个战略中，很明显的能感受到企业用户 的痛苦：想做完全的数字化转型，同时必须要考虑到数字化转型过程中遇到的各种各样的安全威胁，即 使是现在的AI也是一样。企业不知道是否要全面转型AI，如果用了AI，哪些安全的问题需要去顾虑？ 如何保证自己的数据资产不受到入侵的攻击？企业想走向全面数字化，但是安全的风险和投入减缓了企 业全面走向数字化的进程，如何在安全和网络的数字化全面转型过程中寻找一个平衡点，是全球的企业 所面临的统一的问题。 针对以上问题，李宏凯提出，网安融合是一个全新的理念和概念，在网络建设初期就必须考虑安全整合 的发展趋势，而Fortinet提供的整体概念就是帮助用户在网络建设 ...

基于AI技术的迅速发展，来自客户群体的需求是一个可以明确看到的增长方向。 2025年上半年，多家网络安全厂商强调大模型时代AI安全的重要性，并发布安全Agent（智能体）相关产品。 6月5日，美国网络安全厂商Fortinet（飞塔信息，FTNT.O)2025北亚巡展北京站现场，Fortinet中国区总经理李宏凯表示，企业网络安全不能通过堆砌孤立产 品实现有效防御，Fortinet通过统一操作系统（FortiOS）整合自研ASIC芯片，构建覆盖网络边界、云、OT的Fortinet Security Fabric安全平台。 不同于管理计算机硬件与软件资源的底层系统软件，FortiOS是Fortinet开发的专用操作系统，专注于网络安全防护，而非通用计算机的资源管理，设计目标 是提供高性能的流量过滤、威胁检测、VPN 加密等安全功能。 如果单看中国区域的增长表现，李宏凯对第一财经记者表示，基于AI技术的迅速发展，来自客户群体的需求是一个可以明确看到的增长方向，只是很多国 内客户目前持有较为谨慎的态度。另外，中国大陆市场对SaaS行业付费意愿相对较低，整体在安全方面的投入也处于早期，这些都是需要考虑的问题。 另外，中 ...

公司第一季度营收从去年的13.53亿美元增长13.7%，达到15.39亿美元，符合市场平均预期，公司净利 润同比增长44.8%达4.334亿美元，合每股收益0.56美元。相比之下，去年同期净利润为2.993亿美元，每 股收益0.39美元。 若不计入特殊项目，飞塔信息本季度经调整后收益为4.523亿美元，合每股收益0.58美元，超出分析师此 前平均预期的0.53美元，。 业绩展望方面，公司预计下一季度每股收益预期为0.58-0.60美元，下一季度营收预期为15.9-16.5亿美 元。分析师此前预计营收预期为16.3亿美元。 飞塔信息(FTNT.US)于美东时间5月7日盘后公布第一季度财报，数据显示，其盈利同比大幅增长，且超 出华尔街预期。尽管财报表现较为乐观，该股仍在盘后交易中大跌，截至发稿，美股盘后跌12.25%。 此次下跌可能归因于投资者对未来增长前景或影响科技行业的更广泛市场趋势的担忧。 根据InvestingPro的数据，Fortinet在过去一年中实现了令人印象深刻的79.57%的回报率，分析师目标价 在83美元至135美元之间，这表明分析师对该股近期潜力的看法不一。 此外，全年每股收益预期为2.43 ...

Core Insights - Fortinet reported strong financial results for Q1 2025, with a non-GAAP operating margin of 34%, up 570 basis points year over year, and billings growth of 14% year over year [3][5][6]. Financial Performance - Total revenue reached $1.54 billion, reflecting a 14% increase from $1.35 billion in Q1 2024 [5][6]. - Product revenue was $459 million, up 12% from $408.9 million in the same quarter last year [5][6]. - Service revenue amounted to $1.08 billion, a 14.4% increase compared to $944.4 million in Q1 2024 [6]. - Total billings were $1.60 billion, marking a 13.5% increase from $1.41 billion in Q1 2024 [6]. - Remaining performance obligations stood at $6.49 billion, up 11.7% year over year, with an expected revenue recognition of approximately $3.38 billion over the next 12 months [6]. Growth Areas - Unified SASE Annual Recurring Revenue (ARR) increased by 26% to $1.15 billion, while Security Operations ARR grew by 30% to $434.5 million [5][6]. - The company continues to invest in Unified SASE and Security Operations markets, aiming to strengthen its leadership in Secure Networking [3]. Profitability Metrics - GAAP operating income was $453.8 million, with a GAAP operating margin of 29.5%, compared to 23.7% in Q1 2024 [6][29]. - Non-GAAP operating income reached $526.2 million, resulting in a non-GAAP operating margin of 34.2%, up from 28.5% in the previous year [6][32]. - GAAP net income was $433.4 million, with diluted net income per share of $0.56, compared to $299.3 million and $0.39 per share in Q1 2024 [6][29][32]. Cash Flow and Liquidity - Cash flow from operations was a record $863 million, compared to $830.4 million in Q1 2024 [5][12]. - Free cash flow also set a record at $783 million, up from $608.5 million in the same quarter last year [12][35]. Guidance - For Q2 2025, Fortinet expects revenue between $1.590 billion and $1.650 billion, and billings between $1.685 billion and $1.765 billion [12]. - For the full fiscal year 2025, revenue is projected to be in the range of $6.650 billion to $6.850 billion [12].

New FortiGate series delivers scalable, high-performance security for the modern campus, now enhanced with FortiOS post-quantum capabilities and FortiAI-Protect for advanced threat detection and GenAI risk mitigation SUNNYVALE, Calif., May 07, 2025 (GLOBE NEWSWIRE) -- Fortinet (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced the FortiGate 700G series, a next-generation firewall (NGFW) purpose-built for the modern campus. Powered by Fortinet' ...

Core Viewpoint - Fortinet's valuation is a concern for investors as it trades at a significant premium compared to the broader Zacks Security industry, with a Price/Book ratio of 53.65 versus the industry's 25.04, indicating high growth expectations from investors [1][2] Valuation Concerns - The current Price/Book ratio of Fortinet is 53.65, significantly higher than the industry average of 25.04, suggesting a stretched valuation [1] - The Value Score of F indicates that Fortinet's valuation is currently stretched [1] Competitive Landscape - Fortinet operates in a highly competitive cybersecurity market, facing strong competition from companies like Palo Alto Networks, Zscaler, and CrowdStrike [5] - Competitors are rapidly innovating and making strategic acquisitions, which could impact Fortinet's market share and technological relevance if it fails to keep pace [6][7] Macroeconomic Pressures - Fortinet is experiencing pressures from macroeconomic uncertainties, including trade tensions and economic instability in key markets such as Latin America, Mexico, and Canada [8] - The company faces potential disruptions in the U.S. federal market due to staffing issues, which could negatively affect sales [8] - Broader stock market weakness and high interest rates are also impacting Fortinet, making its elevated valuations more risky [9] Earnings Estimates - The Zacks Consensus Estimate for Q1 2025 earnings is 53 cents per share, indicating a year-over-year growth of 23.26%, with revenues expected to reach $1.54 billion, reflecting a 13.54% year-over-year growth [11] - Fortinet has consistently beaten earnings estimates in the past four quarters, with an average surprise of 24.76% [11] Stock Performance - Fortinet shares have gained 10.3% year-to-date, outperforming the Zacks Computer and Technology sector and the S&P 500 index, which declined by 10.7% and 5.8%, respectively [13] - The company's outperformance is attributed to its strong position in the SASE solutions market, which is seeing accelerated adoption [14] Growth Drivers - Fortinet's growth is driven by its Unified SASE strategy integrated into the FortiOS operating system, providing seamless networking and security [16] - SASE Annual Recurring Revenue (ARR) has grown by 96%, and FortiSASE deals have increased by 60% in 2024, indicating strong customer interest and adoption [17] - A recent partnership with Vodafone Business aims to expand Fortinet's reach in European markets, enhancing its growth potential [18] Conclusion - Current valuations suggest that investors might benefit from waiting for a better entry point, as Fortinet's strengths are countered by challenges from increased competition and macroeconomic uncertainties [19][20]

Core Points - Fortinet has been awarded the 2025 Google Cloud Infrastructure Modernization Partner of the Year Award for Networking, marking its fifth recognition as a Google Cloud Technology Partner of the Year [1][2] - The award underscores Fortinet's strong application and infrastructure security solutions and its deep integration with Google Cloud services through the Fortinet Security Fabric powered by FortiOS [2][6] - Fortinet's solutions enable businesses to scale, optimize performance, and defend against evolving threats in complex cloud environments [2][3] Company Overview - Fortinet is a leader in cybersecurity, focusing on the convergence of networking and security, with a mission to secure people, devices, and data globally [7] - The company offers a comprehensive portfolio of over 50 enterprise-grade products, trusted by more than half a million customers [7] - Fortinet's training institute is one of the largest in the industry, dedicated to enhancing cybersecurity training and career opportunities [7] Product and Service Highlights - Fortinet's FortiGate VM serves as a virtual next-generation firewall (NGFW), enforcing consistent security policies across various cloud environments [2][4] - The company provides a cloud security platform that includes application security and cloud-native application protection platform (CNAPP) solutions, offering integrated code-to-security with 360-degree defense-in-depth protection [3] - Fortinet's Unified SASE simplifies operations and enables secure remote and on-prem access, protecting networks, applications, and data [4] Licensing and Customer Flexibility - Fortinet's FortiFlex licensing program allows Google Cloud customers to optimize their deployments and investments, enabling scalability and rollover of unused credits [5] - The program also assists customers with Google Cloud Committed Use Discount agreements in meeting their spending obligations [5]

Fortinet (FTNT) Q4 2024 Earnings Call February 06, 2025 04:30 PM ET Company Participants Aaron Ovadia - Senior Director - IRKen Xie - Founder, Chairman & CEOKeith Jensen - CFOChristiane Ohlgart - Chief Accounting Officer & Principal Accounting OfficerBrian Essex - Executive DirectorFatima Boolani - Managing Director, Co-Head US Software Equity ResearchJoseph Gallo - Senior Vice President Conference Call Participants Jonathan Eisenson - AnalystTal Liani - AnalystGabriela Borges - AnalystShaul Eyal - AnalystR ...