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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 launched FortiRecon, a comprehensive Digital Risk Protection Service that leverages machine learning, automation, and human intelligence. This service helps organizations monitor their external attack surface, assess brand risk, and gain actionable insights against potential cyber threats. FortiRecon addresses critical areas such as External Attack Surface Management, Brand Protection, and Adversary-Centric Intelligence, allowing companies to identify vulnerabilities early and mitigate risks effectively.
Fortinet (NASDAQ: FTNT) will participate as a Platinum Sponsor in the RSA Conference 2022, taking place from June 6-9 at the Moscone Center, San Francisco. The company aims to highlight its automated cybersecurity solutions in response to evolving threats. Key sessions include discussions on the cybersecurity mesh platform and botnet challenges. Attendees can explore Fortinet's latest innovations at booth #5855, featuring AI-powered security services and product demos. Fortinet emphasizes the need for comprehensive cybersecurity strategies to protect against threats in today’s hybrid networks.
Fortinet has launched FortiNDR, an advanced network detection and response solution utilizing machine learning and deep neural networks. This offering aims to enhance cybersecurity by detecting and responding to abnormal network activities efficiently. FortiNDR helps security teams transition from reactive to proactive threat mitigation through integrated analytics and automation within the Fortinet Security Fabric. The solution supports various detection metrics, including user behavior and device types, and addresses the growing challenges posed by cyber threats in increasingly complex IT environments.
Fortinet is making strides in its commitment to bridge the cybersecurity skills gap, aiming to train 1 million individuals by 2026 through its Training Advancement Agenda (TAA) and Training Institute programs. The company is currently tracking ahead of its annual goal, emphasizing the critical need for enhanced cybersecurity skills due to 80% of breaches arising from skill deficiencies. Initiatives include the NSE Certification program and partnerships with academic institutions to broaden access and participation in cybersecurity training.
Fortinet (NASDAQ: FTNT) has achieved a significant milestone, surpassing 500 technology integrations with over 300 Fabric-Ready Technology Alliance Partners. This achievement emphasizes the company’s commitment to enhancing security automation and simplifying operations for its customers amidst a complex IT landscape. The Fortinet Security Fabric continues to grow, providing integrated solutions that address the challenges of digital transformation. Fortinet’s collaborative ecosystem is designed to fortify businesses against evolving cyber threats while reducing operational complexity.
Fortinet (FTNT) reported strong Q1 2022 results with total revenue of $954.8 million, up 34% year over year, and product revenue soaring 54% to $371.0 million. Bookings increased 50% to $1.28 billion, while deferred revenue reached $3.66 billion, up 33%. GAAP diluted net income per share was $0.84, and non-GAAP at $0.94. The company expects Q2 2022 revenue between $1.005 billion and $1.035 billion, with billings of $1.225 billion to $1.265 billion. Guidance for FY 2022 suggests revenue of $4.350 billion to $4.400 billion.
Fortinet (NASDAQ: FTNT) has introduced new FortiGate appliances that integrate ASIC-based performance acceleration and AI-powered FortiGuard Security Services to enhance cybersecurity across campus, branch, and hybrid data center environments. The models FortiGate 600F, 3700F, and 70F offer superior performance metrics, with the 600F boasting up to 140 Gbps firewall performance. These appliances enable organizations to achieve better ROI and scale against advanced threats, driven by FortiOS’s consistent architecture across deployment types.
Masergy, Fortinet, and Ingram Micro have partnered to introduce a new distribution channel for managed SD-WAN services, aimed at value-added resellers and managed service providers. This solution combines networking, security, and services, enabling partners to expand into new markets without significant upfront investment. Notable benefits include recurring revenue opportunities, low barriers to entry, and enhanced client loyalty. The initiative targets the rapidly growing SD-WAN market, responding to increasing demand for hybrid work connectivity and security.
Fortinet has launched a new Security Awareness and Training service to enhance employee cybersecurity skills and knowledge. The service, developed by the Fortinet Training Institute, is informed by FortiGuard Labs threat intelligence and aims to help organizations strengthen their security posture against cyber threats. According to a recent survey, 73% of organizations experienced intrusions linked to cybersecurity skill gaps. The training aligns with NIST 800-50 and NIST 800-16 guidelines and addresses increasing ransomware threats, which rose by 10.7x in 2021.
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