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AI brief of an SEC Form 8-K · Fortinet (FTNT)

Fortinet Q2 revenue rises 11% to $1.43 billion and raises 2024 revenue guidance

Positive Impact 4 of 5 earnings Written later

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.

Key points

  • 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%.

The filing

CompanyFortinet (FTNT)
Form8-K, current report
Filed with the SECAug 6, 2024, 4:07 PM ET
Accession number0001262039-24-000032

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.