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Fortinet, Inc. (NASDAQ: FTNT) is a leading global provider of network security appliances and the market leader in unified threat management (UTM). Headquartered in Sunnyvale, California, Fortinet develops comprehensive cybersecurity solutions that help businesses protect against dynamic security threats while simplifying IT security infrastructure. The company's flagship product, FortiGate, offers ASIC-accelerated performance and integrates multiple layers of security to safeguard against application and network threats. Fortinet's extensive product line extends beyond UTM to secure the entire enterprise, from endpoints to the core network, including databases and applications.
Fortinet's platform-based cybersecurity offerings cover network security, cloud security, zero-trust access, and security operations. The company generates most of its revenue through sales of its subscription and support-based services. With over 700,000 customers worldwide, including many from the 2010 Fortune Global 100, Fortinet has established itself as a trusted cybersecurity provider for enterprises, service providers, and government entities globally.
Recent achievements include the launch of the FortiGate Rugged 70G with 5G Dual Modem, designed for industrial environments and remote ATMs. This new product merges enterprise-grade threat protection with high-performing networking capabilities, ensuring high availability and secure connectivity in extreme conditions. Fortinet's commitment to innovation is evident in its continuous development of the FortiOS, the industry's most powerful network security operating system. The latest version, FortiOS 7.6, introduces new generative AI features, enhanced data protection, and managed services to help customers mitigate risks and simplify network management.
Financially, Fortinet has shown strong performance. For the fourth quarter of 2023, the company reported significant growth in Security Operations billings and SASE billings, driven by a successful sales strategy shift and improved execution. The firm's platform strategy continues to resonate with enterprises worldwide, positioning Fortinet as a leader in secure networking and firewall solutions.
Fortinet is also committed to closing the global cybersecurity skills gap. Through the Fortinet Training Institute, the company offers extensive training programs and has made remarkable strides in providing cybersecurity education to underserved communities, including women and veterans. Fortinet's collaboration with various public and private entities further emphasizes its dedication to enhancing global cyber resilience.
Learn more about Fortinet's innovations, financial highlights, and commitment to cybersecurity at Fortinet.com.
Fortinet (NASDAQ: FTNT) has announced major enhancements to FortiAnalyzer, transforming it into an AI-driven security operations platform specifically designed for midsize enterprises facing cyber skills shortages. The platform now features a unified data lake, advanced threat detection capabilities, and automated incident response tools.
Key improvements include centralized visibility across the Fortinet Security Fabric, AI-powered analysis from FortiGuard Labs, enhanced IoT and SOC dashboards, and automated incident response through prebuilt SOC automation content packs. The platform integrates with various third-party devices and includes FortiAI, a built-in GenAI assistant to accelerate threat investigation and response.
The enhanced FortiAnalyzer aims to help resource-constrained security teams manage hybrid environments more effectively without requiring multiple security tools or extensive personnel. Current FortiAnalyzer customers with FortiGuard subscription services have immediate access to these new features.
Fortinet (FTNT) announced its participation at MWC Barcelona 2025, where it will showcase its new sovereign SASE (Secure Access Service Edge) solution. This innovative platform enables service providers to create dedicated private SASE services, offering organizations enhanced control over their data while meeting regulatory requirements in sectors like finance, healthcare, and government.
The solution builds upon existing Fortinet Secure SD-WAN investments, powered by FortiOS operating system. It addresses critical challenges in data sovereignty, including compliance with regional privacy laws, cross-border data transfers, and localized data inspection requirements. Service providers can leverage this turnkey solution to quickly deploy and expand their SASE offerings while maintaining strict compliance standards.
According to IDC Research Manager Pete Finalle, Fortinet's solution eliminates compliance complexity for organizations requiring improved security while facing adoption barriers for modern SASE architectures.
Fortinet (FTNT) reported strong Q4 2024 financial results with total revenue reaching $1.66 billion, up 17.3% year-over-year. The company achieved record GAAP operating margin of 34.6% and non-GAAP operating margin of 39.2%. Full-year 2024 revenue totaled $5.96 billion, representing 12.3% growth.
Key highlights include service revenue growth of 19.8% to $4.05 billion for the full year, while product revenue slightly decreased by 1%. The company demonstrated strong cash flow generation with $2.26 billion from operations and free cash flow of $1.88 billion in 2024.
Looking ahead, Fortinet provided Q1 2025 guidance with revenue expected between $1.500-1.560 billion and full-year 2025 revenue guidance of $6.650-6.850 billion. The company's Unified SASE ARR grew 28% and Security Operations ARR increased 32% year-over-year.
Fortinet (NASDAQ: FTNT) has announced three new next-generation firewalls (NGFWs): the FortiGate 70G, 50G, and 30G. These new G series firewalls are designed to strengthen threat protection and future-proof IT infrastructure for distributed enterprises.
Powered by Fortinet's proprietary ASIC technology and FortiOS, the new devices deliver superior performance metrics compared to competitors. The FortiGate 70G achieves up to 11x higher IPsec VPN and 7x higher firewall throughput than industry average, while consuming 62x fewer watts per Gbps of IPsec VPN throughput.
Key features include FortiGuard AI-Powered Security Services for automated threat detection and response, and FortiAI, a generative AI assistant that helps automate tasks and improve threat detection. The devices integrate with the Fortinet Security Fabric, enabling unified management and automated threat intelligence sharing.
Fortinet (NASDAQ: FTNT) has strengthened its partnership with the Pittsburgh Steelers, becoming a 'Proud Partner' for the 2024-2025 season. The Steelers have expanded their use of the Fortinet Security Fabric platform across all network segments, including corporate and football operations, merchandising, and ticket operations.
The implementation spans multiple locations including Acrisure Stadium, UPMC Rooney Sports Complex, Saint Vincent College training camp, and remote facilities. Key solutions deployed include FortiGate Next-Generation Firewalls, FortiSwitch Ethernet switches, FortiAP access points, and FortiMonitor for network protection and optimization. The system ensures secure connectivity and high availability, particularly during game days.
The Steelers utilize Fortinet's zero-trust network access and FortiClient for secure remote access, enabling staff and scouts to connect to important assets while traveling. The partnership, which has lasted over 15 years, is set to continue beyond the 2024-2025 season with planned future integrations.
Fortinet (NASDAQ: FTNT) announced its participation in the World Economic Forum's Annual Meeting in Davos-Klosters, Switzerland from January 20-24, 2025. As a founding member of the Forum's Centre for Cybersecurity, Fortinet will contribute to discussions on global cybersecurity challenges.
Derek Manky, Chief Security Strategist and Global VP of Threat Intelligence, will participate in a panel on January 21 about disrupting cybercrime operations. The session, titled 'Collectively Disrupting the Economics of Cybercrime,' will focus on building alliances across organizations to combat cyber threats.
The 55th Annual Meeting will address five key priorities: rebuilding trust, reimagining growth, investing in people, safeguarding the planet, and reimagining leadership strategies. The event brings together leaders from 125 countries, including government officials, business executives, and civil society representatives.
Fortinet (NASDAQ: FTNT) has scheduled its fourth quarter and full year 2024 financial results conference call for Thursday, February 6, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). The conference call will be available in listen-only mode through the company's investor relations website. Investors and analysts are advised to join 10 minutes before the start time. Following the call, the CEO and CFO's prepared remarks, supplemental slides, and call replay will be accessible through Fortinet's Quarterly Earnings page on their investor relations website.
Fortinet (NASDAQ: FTNT) announced that its Security Service Edge (SSE) offering, FortiSASE, received the highest possible 'AAA' rating from CyberRatings.org, the industry's only independent third-party cybersecurity testing nonprofit. The solution achieved exceptional scores across all test categories:
- Perfect score in Evasions (100%)
- Near-perfect in Exploits (99.02%)
- Near-perfect in Malware (99.5%)
- Full compatibility in TLS/SSL Functionality
FortiSASE demonstrated minimal impact on network performance while maintaining robust security features. The solution provides comprehensive cloud-delivered security services, including Firewall-as-a-Service, secure web gateway, and cloud access security broker. Fortinet was also named a Challenger in the 2024 Gartner Magic Quadrant for SSE.
Fortinet (NASDAQ: FTNT) has launched FortiAppSec Cloud, a new cloud-delivered platform integrating web application security and performance management tools. The platform combines advanced bot defense, global server load balancing, and web/API security into a unified solution. Key features include ML-powered bot protection, intelligent traffic routing, and threat analytics powered by FortiGuard Labs. The platform aims to address the challenges of securing modern web applications across multi-cloud environments, offering centralized management and reduced complexity. According to Fortinet's 2024 Cloud Security Report, 95% of cybersecurity professionals support a single-dashboard approach for streamlined security management.
Fortinet (FTNT) has been named the Preferred Partner of the NHL Vancouver Canucks for the 2024-2025 season. Canucks Sports & Entertainment (CSE) has implemented Fortinet's Security Fabric platform to protect its data center, secure Rogers Arena, and connect various facilities. The deployment includes a FortiGate Next-Generation Firewall cluster and Secure SD-WAN platform to streamline security operations. Fortinet's presence in Canada includes over 2,600 employees, $200 million in infrastructure investments, and partnerships with 30 academic institutions. The company aims to train 1 million people globally in cybersecurity by 2026.
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