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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 has launched FortiMonitor and FortiAIOps, enhancing its Fabric Management Center to improve network operations. These tools provide comprehensive monitoring and automation capabilities, crucial for optimizing user experience in complex digital environments. FortiMonitor delivers Digital Experience Monitoring across various infrastructures, while FortiAIOps leverages AI and ML to automate anomaly detection and streamline root cause analysis. This initiative reflects Fortinet's commitment to simplifying network management and supporting digital transformation for organizations.
Fortinet (NASDAQ: FTNT) has integrated its Secure SD-WAN solution with Google Cloud’s Network Connectivity Center (NCC), enhancing security and user experience for enterprises transitioning to the cloud. With over 90% of enterprises utilizing multi-cloud environments, this integration aims to simplify connections across distributed sites and workloads. Fortinet’s solution provides end-to-end security, ensuring operational efficiency while protecting data. This partnership is designed to support companies at various stages of cloud migration, offering improved connectivity and security across hybrid environments.
Fortinet CEO Ken Xie has been appointed by U.S. Secretary of Commerce Gina Raimondo to the U.S. – Brazil CEO Forum, aimed at enhancing bilateral trade and investment.
The Forum, which comprises American and Brazilian CEOs, addresses crucial topics such as infrastructure, technology, workforce development, and regulatory reforms.
Fortinet remains committed to cybersecurity innovation and bridging the global skills gap through its NSE Training Institute programs.
Fortinet (NASDAQ: FTNT) has partnered with Carahsoft to provide Fortinet's Security Fabric solutions to the U.S. Federal Government. The collaboration is through the ITES-SW2 contract, effective until August 30, 2025, allowing federal agencies and authorized integrators to access commercial software products and services without fees. Fortinet aims to address the evolving cybersecurity needs of federal agencies by helping consolidate and automate their infrastructures, thereby supporting compliance and risk reduction.
Fortinet (NASDAQ: FTNT) announces significant enhancements to its FortiEDR solution, reflecting a 300% increase in customer adoption over the past year. These enhancements include new MITRE ATT&CK tags, expanded managed detection and response (MDR) services, and advanced endpoint detection capabilities. As ransomware threats evolve, FortiEDR aims to provide seamless protection and rapid response to cyber threats, ensuring organizations can defend against increasingly sophisticated attacks.
Fortinet (NASDAQ: FTNT) has partnered with ENGIE Italia to enhance security and visibility across 120 remote offices using its Secure SD-WAN and SD-Branch solutions. With the increase in remote sites, ENGIE faced challenges in network visibility and collaboration between IT and OT teams. Fortinet's solution has helped reduce connectivity costs while improving security and team efficiency, allowing ENGIE to respond more swiftly to threats. This strategic implementation also simplifies hardware management and optimizes cloud service access.
Fortinet (FTNT) reported strong financial results for Q1 2021, with total revenue of $710.3 million, a 23% increase year-over-year. Product revenue rose by 25% to $240.7 million, while service revenue grew 22% to $469.6 million. Billings reached $850.6 million, up 27%. The company’s GAAP operating margin stood at 17.1%, down 310 basis points. However, non-GAAP operating margin improved to 24.5%. Fortinet has raised its full-year guidance, expecting revenue between $3.080 billion and $3.130 billion.
BT and Fortinet have launched a managed secure SD-WAN service, enhancing connectivity and cybersecurity. This integrated solution combines security and networking, addressing the complexity of cyber threats and network management. Key benefits include improved performance, efficient operations, natively integrated security, and reduced costs. The partnership, longstanding for over a decade, reflects their commitment to delivering secure solutions for digital transformation. This service supports organizations in adapting to hybrid work models, securing applications and workloads in a distributed environment.
Fortinet (NASDAQ: FTNT) has unveiled the FortiGate 7121F and FortiExtender 511F-5G, enhancing security for 5G networks. These solutions offer unmatched performance, with FortiGate 7121F providing 1.89 Tbps firewall throughput and high-speed threat protection and SSL inspection. The FortiExtender delivers flexibility for SD-WAN and SASE solutions. Fortinet's focus on 5G security aims to safeguard the expanding attack surface introduced by the 5G ecosystem, ensuring low latency and robust security for enterprises and mobile network operators.
Fortinet (NASDAQ: FTNT) is enhancing its Training Advancement Agenda (TAA) to address the cybersecurity skills gap. The NSE Training Institute's initiatives include over 30 free technical training courses, new partnerships with organizations like Women in Cybersecurity and Stanford University, and support for nearly 400 educational institutions globally. Despite a reported decrease in security professionals needed from 4.07 million to 3.12 million in 2020, the skills gap remains a critical challenge. Recent achievements include reaching over 1,000,000 registrations for free courses and launching new certification programs.
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