Every material Form 8-K Fortinet has filed with the SEC since December 01, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Fortinet reported third-quarter 2026 revenue of $2.08 billion and GAAP earnings per share of $0.86, driven by 20% year-over-year revenue growth. The company raised its full-year 2026 revenue guidance and increased its share repurchase authorization by $1.2 billion.
Revenue grew 20% year-over-year to $2.08 billion for the third quarter ended September 30, 2026.
GAAP earnings per share were $0.86, with non-GAAP earnings per share at $0.91.
Share repurchase authorization was increased by $1.2 billion, leaving a remaining authorization of $2 billion.
Full-year 2026 revenue guidance was updated to a range of $8.125 billion to $8.215 billion.
Fortinet reported second-quarter 2026 revenue of $2.05 billion, up 26% from $1.63 billion a year earlier, and GAAP diluted earnings of $0.82 per share, up from $0.57. The company raised its 2026 revenue growth guidance to 19% year over year, with full-year revenue now expected between $8.020 billion and $8.180 billion.
Q2 2026 revenue $2.05 billion, up 26% year over year; product revenue $773 million, up 52%
GAAP diluted EPS $0.82 vs. $0.57 a year earlier; non-GAAP diluted EPS $0.90
Full-year 2026 revenue guidance range $8.020 billion to $8.180 billion; third-quarter revenue guidance $2.010 billion to $2.100 billion
Free cash flow of $966 million in the quarter, compared with $284 million a year earlier
Fortinet reported first-quarter 2026 revenue of $1.85 billion, up 20% from a year earlier, and GAAP net income of $534.5 million, or $0.72 per diluted share, versus $0.56 a year earlier. The company raised its full-year 2026 revenue guidance to $7.710 billion to $7.870 billion, which the release describes as 15% year-over-year growth.
Q1 2026 revenue was $1.85 billion, up 20% year over year; billings rose 31% to $2.09 billion.
GAAP diluted EPS was $0.72, up from $0.56; non-GAAP diluted EPS was $0.82, up from $0.58.
Full-year 2026 revenue guidance is $7.710 billion to $7.870 billion; second-quarter revenue guidance is $1.830 billion to $1.930 billion.
The company repurchased and retired $823.0 million of common stock in the quarter.
Fortinet reported fourth-quarter 2025 revenue of $1.91 billion, up 15% from a year earlier, and non-GAAP diluted earnings of $0.81 per share versus $0.74. GAAP net income for the quarter fell to $506.0 million from $526.2 million, and the board raised the share repurchase authorization by $1.0 billion to a total of up to $10.25 billion through February 28, 2027.
Q4 2025 revenue rose 15% year over year to $1.91 billion; total billings rose 18% to $2.37 billion.
Q4 GAAP diluted EPS was $0.68, flat with the prior year; non-GAAP diluted EPS was $0.81 versus $0.74.
Guidance for Q1 2026 revenue is $1.700 billion to $1.760 billion; full-year 2026 revenue is $7.500 billion to $7.700 billion.
About $1.38 billion remained available under the buyback as of February 4, 2026, including the $1.0 billion increase.
Fortinet reported third-quarter 2025 revenue of $1.72 billion, up 14% from a year earlier, and billings of $1.81 billion, also up 14%. GAAP net income fell to $473.9 million from $539.9 million, while non-GAAP diluted earnings per share rose to $0.74 from $0.63. The company expects fourth-quarter 2025 revenue of $1.825 billion to $1.885 billion and full-year 2025 revenue of $6.720 billion to $6.780 billion.
GAAP diluted EPS was $0.62 for the quarter, versus $0.70 a year earlier.
Non-GAAP diluted EPS was $0.74, versus $0.63; non-GAAP operating margin was 36.9%, versus 36.1%.
Product revenue grew 18% to $559.3 million; billings grew 14% to $1.81 billion.
Q4 2025 guidance: revenue of $1.825 billion to $1.885 billion and non-GAAP diluted EPS of $0.73 to $0.75.
Fortinet reported second-quarter 2025 results, with revenue up 14% year over year to $1.63 billion and net income of $440.1 million, compared with $379.8 million a year earlier. The company raised the midpoint of its full-year 2025 billings guidance by $100 million, to a range of $7.325 billion to $7.475 billion.
Q2 2025 revenue rose 14% to $1.63 billion; billings rose 15% to $1.78 billion.
GAAP diluted EPS was $0.57, up from $0.49; non-GAAP diluted EPS was $0.64, up from $0.57.
GAAP operating margin was 28.1%, down from 30.5% a year earlier.
Third-quarter 2025 revenue guidance is $1.670 billion to $1.730 billion; full-year revenue guidance is $6.675 billion to $6.825 billion.
Fortinet reported first quarter 2025 results for the period ended March 31, 2025, with total revenue of $1.54 billion, up 13.8% from a year earlier, and GAAP net income of $433.4 million, or $0.56 per diluted share, compared with $0.39 a year earlier. The company also gave guidance for the second quarter and full year 2025, with second-quarter revenue expected at $1.590 billion to $1.650 billion and full-year revenue at $6.650 billion to $6.850 billion.
Total revenue was $1.54 billion, up 13.8% from $1.35 billion in Q1 2024.
GAAP net income was $433.4 million, or $0.56 per diluted share, versus $0.39 in Q1 2024.
Non-GAAP operating margin was 34.2%, compared with 28.5% a year earlier.
Q2 2025 revenue guidance is $1.590 billion to $1.650 billion; full-year 2025 revenue guidance is $6.650 billion to $6.850 billion.
Fortinet reported fourth-quarter 2024 revenue of $1.66 billion, up 17.3% from a year earlier, and GAAP diluted EPS of $0.68 versus $0.40. It also issued 2025 revenue guidance of $6.650 billion to $6.850 billion, compared with full-year 2024 revenue of $5.96 billion. Chief Financial Officer Keith Jensen plans to retire on May 15, 2025, and Chief Accounting Officer Christiane Ohlgart is expected to succeed him, which shareholders may watch during the transition.
Q4 2024 revenue was $1.66 billion, up 17.3% from $1.42 billion; GAAP net income was $526.2 million.
GAAP diluted EPS was $0.68 for Q4 2024, compared with $0.40 a year earlier.
2025 guidance: revenue of $6.650 billion to $6.850 billion; Q1 2025 revenue of $1.500 billion to $1.560 billion.
Keith Jensen, 66, will retire May 15, 2025 and remain in service through June 30, 2025; Christiane Ohlgart is set to become CFO.
Fortinet's board increased its size from nine to ten directors and appointed Janet Napolitano, former Secretary of Homeland Security and former governor of Arizona, to fill the new seat, effective November 7, 2024. The filing describes the appointment as a governance change with no financial results attached, so it carries no direct effect on reported earnings or guidance.
Board expanded from nine to ten directors; Napolitano appointed effective November 7, 2024, to serve until the 2025 annual meeting.
Expected annual cash retainer of $55,000 for board service, plus any committee retainers; she has not yet been named to any committees.
Expected restricted stock unit grant, pro-rated to the 2025 annual meeting, vesting the day before that meeting.
Fortinet reported third-quarter 2024 results on November 7, 2024, with total revenue of $1.51 billion, up 13.0% from a year earlier, and GAAP diluted earnings of $0.70 per share, up from $0.41. The company raised its 2024 revenue and non-GAAP operating margin guidance and increased its share repurchase authorization by $1 billion, which leaves about $2.03 billion available for buybacks.
Total revenue was $1.51 billion, up 13.0% from $1.33 billion in Q3 2023; service revenue rose 19.1%.
GAAP net income was $539.9 million, compared with $322.9 million in Q3 2023; GAAP diluted EPS was $0.70 versus $0.41.
Fiscal 2024 revenue guidance is $5.856 billion to $5.916 billion, and non-GAAP operating margin guidance is 32.9% to 33.9%.
As of November 7, 2024, about $2.03 billion remained available for share repurchases.
Fortinet reported second-quarter 2024 results on August 6, 2024, with total revenue of $1.43 billion, up 10.9% from a year earlier, and GAAP diluted earnings of $0.49 per share, up from $0.33. The company raised its full-year 2024 revenue and non-GAAP operating margin guidance, though product revenue fell and total billings were flat.
Total revenue was $1.43 billion, up 10.9%; service revenue rose 19.8% to $982.4 million while product revenue fell 4.4% to $451.9 million.
GAAP diluted net income per share was $0.49 versus $0.33 a year earlier; non-GAAP diluted EPS was $0.57 versus $0.38.
Non-GAAP operating margin was 35.1%, up from 26.9%, and cash flow from operations was $342.0 million, down from $515.1 million.
For fiscal 2024, Fortinet now expects revenue of $5.800 billion to $5.900 billion and a non-GAAP operating margin of 30.0% to 31.5%.
Fortinet reported first-quarter 2024 results for the period ended March 31, 2024, with total revenue of $1.35 billion, up 7.2% from a year earlier, and GAAP net income of $299.3 million, up from $247.7 million. The company also issued second-quarter and full-year 2024 revenue and non-GAAP earnings per share guidance, which shareholders can use to compare future results.
Total revenue was $1.35 billion, up 7.2% from $1.26 billion; service revenue rose 24.0% to $944.4 million while product revenue fell 18.3% to $408.9 million.
GAAP diluted net income per share was $0.39 versus $0.31; non-GAAP diluted net income per share was $0.43 versus $0.34.
Total billings fell 6.4% to $1.41 billion, and free cash flow was $608.5 million versus $647.2 million a year earlier.
Second-quarter 2024 revenue guidance is $1.375 billion to $1.435 billion; full-year 2024 revenue guidance is $5.745 billion to $5.845 billion.
Fortinet expanded its board from eight to nine directors and appointed Mary Agnes "Maggie" Wilderotter as a director, effective April 19, 2024. The company also named Christiane Ohlgart as Chief Accounting Officer and principal accounting officer, effective March 18, 2024, replacing CFO Keith Jensen in that accounting role while he remains CFO.
Wilderotter's board appointment is effective April 19, 2024, and she has not yet been assigned to any board committees
Wilderotter is expected to receive a $55,000 annual cash retainer plus RSUs, pro-rated through the 2024 Annual Meeting
Ohlgart, age 56, is expected to receive a $450,000 annual base salary, a 50% target bonus, and $750,000 each in RSUs and PSUs (target values)
Keith Jensen will stop serving as principal accounting officer but remains Chief Financial Officer
Fortinet reported fourth-quarter 2023 revenue of $1.42 billion, up 10.3% from a year earlier, and full-year 2023 revenue of $5.30 billion, up 20%. GAAP diluted earnings per share were $0.40 in the quarter, flat year over year, while full-year GAAP diluted earnings per share rose 38% to $1.46. The company also gave first-quarter and full-year 2024 guidance, including full-year 2024 revenue of $5.715 billion to $5.815 billion.
Q4 2023 revenue of $1.42 billion, up 10.3%; product revenue fell 9.6% to $488.1 million while service revenue rose 24.8% to $927.0 million
Full-year 2023 GAAP diluted EPS of $1.46, up 38%; Q4 GAAP diluted EPS of $0.40, unchanged from the prior-year quarter
Q1 2024 revenue guidance of $1.300 billion to $1.360 billion; full-year 2024 revenue guidance of $5.715 billion to $5.815 billion
Share repurchases of $1.50 billion in 2023; about $1.03 billion remained available as of February 6, 2024
Fortinet appointed John Whittle as its Chief Operating Officer on January 15, 2024, while he continues as Corporate Secretary. The filing states there is no change to his compensation from the appointment. The change matters to shareholders because it is a senior executive role change, and the filing describes no change to financial results or guidance.
John Whittle, 55, appointed Chief Operating Officer on January 15, 2024
He will also continue to serve as Corporate Secretary, a role held since January 2007
Prior roles: Executive Vice President of Corporate Development (January 2019 to January 2024) and Chief Legal Officer (April 2022 to January 2024)
No change to compensation from the appointment, per the filing
Fortinet disclosed that Chief Revenue Officer and Executive Vice President of Support Patrice Perche intends to retire in mid-2024 after about 19 years with the company. He will help transition his responsibilities until his retirement date, and the company said his decision was not the result of any disagreement.
Patrice Perche, age 61, notified Fortinet of his retirement plan on November 28, 2023
Retirement is planned for mid-2024 after approximately 19 years of service
Perche will help transition his current responsibilities through his retirement date
The filing states the decision was not the result of any disagreement with the company
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