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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 the general availability of Lacework FortiCNAPP, a unified AI-driven platform for comprehensive cloud security. This new offering combines Lacework's cloud-native application protection platform with the Fortinet Security Fabric, providing enhanced visibility and protection across multi-cloud environments.
Key features of Lacework FortiCNAPP include:
- A unified platform for full visibility from code to cloud
- AI-based anomaly detection for identifying undefined attack patterns
- Integrated code security
- Composite alerts for detecting early signs of active attacks
- Integrations with Fortinet solutions like FortiSOAR
- Cloud Infrastructure Entitlement Management (CIEM)
The platform aims to simplify and strengthen cloud security, addressing challenges in cloud adoption such as cloud security knowledge and the proliferation of security products.
Fortinet (NASDAQ: FTNT) has been named a Leader in the 2024 Gartner Magic Quadrant for SD-WAN for the fifth consecutive year. The company is also the only Leader positioned highest in Ability to Execute for the fourth year running. Fortinet Secure SD-WAN offers:
1. A robust feature set with next-generation firewall capabilities, universal zero-trust network access, and advanced routing.
2. Easy on-ramp to single-vendor SASE through integration with FortiSASE.
3. GenAI integration with FortiAI for enhanced SD-WAN management.
4. Improved network performance for on-demand full mesh networks.
5. SD-Branch support through integration with various Fortinet products.
Fortinet has also received a "AAA" rating from the MEF Forum and has been recognized in the Gartner Peer Insights Customers' Choice for SD-WAN for four consecutive years.
Fortinet (NASDAQ: FTNT), a global leader in cybersecurity, has announced its upcoming third quarter 2024 financial results conference call. The call is scheduled for Thursday, November 7, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). Investors and interested parties can access the live broadcast in listen-only mode on Fortinet's investor relations website.
The company recommends joining the call at least 10 minutes before it starts. After the call, prepared remarks from the CEO and CFO, supplemental slides, and a call replay will be available on the Quarterly Earnings page of Fortinet's Investor Relations website.
Fortinet, a global cybersecurity leader, has announced significant progress in its mission to address the cybersecurity skills shortage through its Training Institute programs. The company pledged to train 1 million people in cybersecurity by the end of 2026, and has already trained more than half a million individuals, putting them on track to meet their goal.
Key initiatives and achievements include:
- Winning the 2024 SC Awards for Best Professional Certification Program
- Enhancing the Fortinet Network Security Expert (NSE) Certification program
- Pledging to offer free cybersecurity training to 75,000 individuals in Europe
- Partnering with organizations in India to offer 100,000 virtual internships
- Hosting cybersecurity bootcamps and workshops globally
- Collaborating with various partners to upskill and reskill veterans
These efforts aim to address the estimated need for 4.8 million cybersecurity professionals to fill the industry's workforce gap.
Fortinet (NASDAQ: FTNT) has been honored as the winner of the 2024 SC Awards in the Best Professional Certification Program category for its Network Security Expert (NSE) Certification Program. This recognition highlights Fortinet's efforts to address the widening cybersecurity talent gap and deliver practical, effective training to safeguard against complex threats.
The SC Awards, now in its 27th year, celebrate outstanding achievements in advancing information system security. Fortinet's win demonstrates its innovation in providing cybersecurity education that addresses the evolving landscape. The company remains committed to its mission of training 1 million individuals in cyber by 2026.
John Maddison, Chief Marketing Officer at Fortinet, emphasized the company's dedication to closing the cybersecurity workforce gap through world-class training and certification programs. The award from SC Media, along with other industry recognitions, validates Fortinet's ongoing investment in developing top-tier training resources.
Fortinet (NASDAQ: FTNT) has unveiled a new Innovation Hub in downtown Chicago, marking a significant expansion of its global infrastructure. This $30 million investment includes a 90,000 square foot, 6-story facility featuring:
1. A Fortinet Cloud Point of Presence (POP) to enhance global cloud services
2. A Research and Development Center for advancing cybersecurity technology
3. An Executive Briefing Center for stakeholder engagement
4. A Cybersecurity Training Facility to address the skills gap
5. Expanded customer support capabilities
The hub aims to foster innovation, improve collaboration, and strengthen Fortinet's ability to serve enterprise customers worldwide. Additionally, Fortinet is making donations to local chapters of Women in CyberSecurity and Blue Star Families, reinforcing its commitment to diversifying the cybersecurity workforce.
Fortinet (NASDAQ: FTNT) has announced significant enhancements to its unified SASE solution, introducing sovereign SASE and generative AI capabilities. The company's unified SASE offers complete integration between Secure SD-WAN and cloud-delivered security service edge (SSE) under a single console. Key updates include:
1. Sovereign SASE: Allows organizations to maintain local control over inspection and logs, ensuring data privacy and compliance.
2. FortiAI for SD-WAN: A GenAI assistant to manage and orchestrate SD-WAN infrastructure, accelerating deployment and management.
3. Remote browser isolation (RBI) natively configured within the FortiSASE cloud-based management console.
4. Improved network performance for on-demand full mesh networks and self-healing features.
5. Native SCIM support for streamlined management and operations.
These updates reinforce Fortinet's position as a leader in SASE innovation and its commitment to providing flexible, comprehensive security solutions.
Juventus Football Club has announced Fortinet (NASDAQ: FTNT) as its Official Cybersecurity Partner for the next two seasons through 2026. Juventus will implement Fortinet's Security Fabric platform to streamline network and security management across its facilities, including Allianz Stadium, headquarters, and training centers.
The partnership involves replacing over 50 switches and 160 access points across 10 locations. Juventus will deploy a central FortiGate Next-Generation Firewall cluster, along with FortiManager and FortiAnalyzer for consolidated management and visibility. This implementation aims to reduce complexity, improve performance, and enhance security across Juventus' infrastructure.
Fortinet (Nasdaq: FTNT) reported its second quarter 2024 financial results, showcasing impressive growth in key areas.
Total revenue increased by 10.9% YoY to $1.43 billion, with service revenue up by 19.8% to $982.4 million. Despite a decline in product revenue by 4.4% to $451.9 million, the company posted record GAAP and non-GAAP operating margins of 30.5% and 35.1% respectively.
Other highlights include GAAP net income of $379.8 million and non-GAAP net income of $439.9 million. Fortinet also reported a cash flow from operations of $342 million, though free cash flow decreased to $318.9 million.
Looking ahead, the company raised its 2024 revenue and non-GAAP operating margin guidance, expecting revenues between $5.8 billion and $5.9 billion, and non-GAAP operating margins between 30.0% and 31.5%.
Fortinet (NASDAQ: FTNT) has acquired Next DLP, a leader in insider risk and data protection, to enhance its data loss prevention (DLP) capabilities. This strategic move aims to strengthen Fortinet's position in the standalone enterprise DLP market and reinforce its leadership in integrated DLP within endpoint and SASE solutions. Next DLP's cloud-native SaaS data protection platform will be integrated into Fortinet's security service edge (SSE) offering and across the Fortinet Security Fabric.
Key highlights:
- Next DLP recognized in Gartner's 2023 Market Guides for DLP and Insider Risk Management Solutions
- Acquisition closed on August 5, 2024
- Fortinet aims to improve its Unified SASE solution with advanced DLP capabilities
- Integration expected to extend data security solutions to organizations worldwide
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