Market Summary
USD58.94-1.21
Delayedas of 21 Sep 2023, 12:12 pm-2.01%
FTNT Stock Price
FTNT RSI Chart
FTNT Valuation
FTNT Price/Sales (Trailing)
FTNT Profitability
FTNT Fundamentals
FTNT Revenue
FTNT Earnings
Price Action
52 Week Range
42.6181.24
(Low)(High)
Last 7 days
-3.9%
Last 30 days
3.0%
Last 90 days
-16.3%
Trailing 12 Months
18.5%
FTNT Financial Health
FTNT Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for FTNT
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-09-08 | NEUKOM WILLIAM H. | bought | 34,928 | 63.276 | 552 | - |
2023-08-23 | Jensen Keith | sold | -1,457,980 | 58.9915 | -24,715 | cfo & chief accounting officer |
2023-08-23 | Jensen Keith | acquired | 703,681 | 28.4718 | 24,715 | cfo & chief accounting officer |
2023-08-21 | Perche Patrice | sold | -439,179 | 58.2852 | -7,535 | chief revenue off./evp supp. |
2023-08-21 | Perche Patrice | acquired | 215,352 | 28.5802 | 7,535 | chief revenue off./evp supp. |
2023-08-18 | Jensen Keith | sold | -291,737 | 57.2033 | -5,100 | cfo & chief accounting officer |
2023-08-03 | Perche Patrice | sold | -672,051 | 75.3167 | -8,923 | chief revenue off./evp supp. |
2023-08-02 | Xie Michael | sold | -441,678 | 75.0515 | -5,885 | vp, engineering & cto |
2023-08-01 | Whittle John | acquired | - | - | 6,200 | vp corp dev&strat alliance,gc |
2023-08-01 | Whittle John | sold (taxes) | -240,020 | 78.03 | -3,076 | vp corp dev&strat alliance,gc |
Which funds bought or sold FTNT recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-12 | DAVIDSON KEMPNER CAPITAL MANAGEMENT LP | sold off | -100 | -13,290,000 | - | -% |
2023-09-12 | Farther Finance Advisors, LLC | added | 2.5 | 6,602 | 46,412 | 0.01% |
2023-09-08 | TUCKER ASSET MANAGEMENT LLC | reduced | -48.09 | -25,699 | 37,039 | 0.01% |
2023-09-07 | ST GERMAIN D J CO INC | new | - | 40,063 | 40,063 | -% |
2023-09-05 | Delos Wealth Advisors, LLC | reduced | -97.08 | -22,040 | 756 | -% |
2023-09-05 | Westshore Wealth, LLC | new | - | 264,565 | 264,565 | 0.14% |
2023-09-01 | Manhattan West Asset Management, LLC | added | 15.69 | 364,999 | 1,520,870 | 0.57% |
2023-08-30 | CHAPIN DAVIS, INC. | new | - | 1,627,680 | 1,627,680 | 0.77% |
2023-08-29 | Garde Capital, Inc. | unchanged | - | 46,000 | 378,000 | 0.03% |
2023-08-28 | DT Investment Partners, LLC | unchanged | - | 1,598 | 8,194 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Fortinet
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | price t rowe associates inc /md/ | 1.7% | 12,940,042 | SC 13G/A | |
| Feb 10, 2023 | xie ken | 9.9% | 77,711,049 | SC 13G/A | |
| Feb 10, 2023 | xie michael | 9.0% | 70,195,073 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 8.62% | 67,373,952 | SC 13G/A | |
| Feb 01, 2023 | blackrock inc. | 6.5% | 50,584,230 | SC 13G/A | |
| Feb 14, 2022 | price t rowe associates inc /md/ | 6.5% | 10,707,518 | SC 13G | |
| Feb 09, 2022 | xie michael | 8.8% | 14,285,419 | SC 13G/A | |
| Feb 09, 2022 | xie ken | 9.7% | 15,793,282 | SC 13G/A | |
| Feb 03, 2022 | blackrock inc. | 7.1% | 11,668,040 | SC 13G/A | |
| Feb 11, 2021 | xie michael | 8.9% | 14,540,465 | SC 13G/A |
Recent SEC filings of Fortinet
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 08, 2023 | 4 | Insider Trading | |
| Aug 24, 2023 | 4 | Insider Trading | |
| Aug 23, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 22, 2023 | 4 | Insider Trading | |
| Aug 21, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 21, 2023 | 4 | Insider Trading | |
| Aug 18, 2023 | 4 | Insider Trading | |
| Aug 18, 2023 | 4 | Insider Trading | |
| Aug 18, 2023 | 4 | Insider Trading | |
| Aug 18, 2023 | 4 | Insider Trading |
FTNT Fair Value
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Peers (Alternatives to Fortinet)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
MSFT | 2.4T | 211.9B | -0.34% | 32.68% | 32.95 | 11.25 | 6.88% | -0.52% |
ADBE | 244.3B | 18.4B | 2.94% | 84.08% | 50.33 | 13.26 | 10.40% | -0.72% |
PANW | 72.5B | 6.9B | -2.29% | 34.44% | 164.98 | 10.52 | 25.29% | 264.68% |
FTNT | 47.3B | 5.0B | 3.01% | 18.48% | 44.6 | 9.47 | 27.39% | 57.18% |
ZM | 20.6B | 4.5B | 2.27% | -10.75% | 145.2 | 4.61 | 3.92% | -85.69% |
| MID-CAP | ||||||||
TDC | 4.6B | 1.8B | 3.31% | 47.91% | 78.81 | 2.53 | -2.90% | -29.27% |
BB | 3.0B | 861.0M | 16.40% | -8.42% | -5.28 | 3.46 | 20.93% | -427.10% |
| SMALL-CAP | ||||||||
ATEN | 1.1B | 273.2M | 0.89% | 14.76% | 23.87 | 4 | 2.45% | -55.34% |
MITK | 444.0M | 157.2M | - | 17.40% | 65.72 | 3.18 | 24.45% | -48.07% |
INS | 258.0M | 60.7M | - | - | 18.58 | 3.7 | -7.25% | -67.19% |
BKYI | 4.6M | 8.1M | -22.52% | -69.99% | -0.42 | 0.56 | 33.04% | -88.92% |
AVYA | - | - | -2.38% | -98.14% | - | - | - | - |
QUMU | 16.1M | - | 1.30% | -53.31% | -1.29 | 0.75 | - | - |
Fortinet News
Returns for FTNT
Cumulative Returns on FTNT
30.3%
10-Year Cumulative Returns
35.4%
7-Year Cumulative Returns
28.6%
5-Year Cumulative Returns
36.9%
3-Year Cumulative Returns
Risks for FTNT
What is the probability of a big loss on FTNT?
88.8%
Probability that Fortinet stock will be more than 20% underwater in next one year
30.4%
Probability that Fortinet stock will be more than 30% underwater in next one year.
0%
Probability that Fortinet stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does FTNT drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Fortinet was unfortunately bought at previous high price.
Drawdowns
Financials for Fortinet
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 | 2018Q1 |
| Revenue | 5.6% | 4,988 | 4,725 | 4,417 | 4,166 | 3,915 | 3,664 | 3,413 | 2,911 | 2,727 | 2,594 | 2,465 | 2,362 | 2,266 | 2,163 | 2,053 | 1,959 | 1,878 | 1,805 | 2,126 | 1,909 | 1,831 |
| Gross Profit | 6.1% | 3,804 | 3,586 | 3,333 | 3,082 | 2,872 | 2,707 | 2,559 | 2,261 | 2,129 | 2,024 | 1,921 | 1,833 | 1,744 | 1,657 | 1,559 | 1,477 | 1,412 | 1,354 | 1,284 | 1,222 | 1,161 |
| Operating Expenses | 5.4% | 2,628 | 2,494 | 2,363 | 2,255 | 2,144 | 2,027 | 1,909 | 1,695 | 1,592 | 1,493 | 1,437 | 1,375 | 1,329 | 1,306 | 1,244 | 1,200 | 1,159 | 1,120 | 1,095 | 1,063 | 1,025 |
| S&GA Expenses | 5.7% | 1,877 | 1,777 | 1,686 | 1,598 | 1,518 | 1,429 | 1,346 | 1,189 | 1,116 | 1,072 | 1,038 | 998 | 971 | 927 | 876 | 847 | 813 | 782 | 768 | 742 | 716 |
| R&D Expenses | 5.4% | 568 | 539 | 512 | 496 | 470 | 452 | 424 | 383 | 358 | 341 | 324 | 304 | 289 | 277 | 271 | 260 | 254 | 245 | 234 | 229 | 219 |
| EBITDA | -100.0% | - | 1,233 | 1,078 | 915 | 804 | 758 | 728 | 640 | 612 | 611 | 572 | 547 | 506 | 448 | - | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.26* | 0.24* | 0.22* | 0.21* | 0.21* | 0.22* | 0.22* | 0.22* | 0.24* | 0.23* | 0.23* | 0.22* | 0.21* | - | - | - | - | - | - | - |
| Interest Expenses | 3.8% | 19.00 | 19.00 | 18.00 | 18.00 | 18.00 | 18.00 | 15.00 | 6.00 | 1.00 | - | - | - | - | - | - | - | - | - | - | - | - |
| Earnings Before Taxes | 10.4% | 1,223 | 1,108 | 956 | 795 | 687 | 648 | 628 | 565 | 543 | 542 | 501 | 479 | 441 | 386 | 348 | 312 | 278 | 254 | 204 | 171 | 153 |
| EBT Margin | -100.0% | - | 0.23* | 0.22* | 0.19* | 0.18* | 0.18* | 0.19* | 0.19* | 0.20* | 0.21* | 0.20* | 0.20* | 0.20* | 0.18* | - | - | - | - | - | - | - |
| Net Income | 9.6% | 1,059 | 967 | 857 | 743 | 674 | 638 | 607 | 515 | 491 | 489 | 460 | 417 | 376 | 332 | 397 | 376 | 352 | 335 | 121 | 89.00 | 62.00 |
| Net Income Margin | -100.0% | - | 0.20* | 0.19* | 0.18* | 0.18* | 0.18* | 0.18* | 0.18* | 0.18* | 0.19* | 0.18* | 0.17* | 0.16* | 0.15* | - | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 1,801 | - | 1,236 | 1,176 | 1,293 | 1,307 | 1,104 | 923 | 959 | 853 | 877 | 843 | 748 | 738 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 9.6% | 7,486 | 6,832 | 6,228 | 5,336 | 5,295 | 5,651 | 5,919 | 5,971 | 5,559 | 5,282 | 4,045 | 3,586 | 3,331 | 3,206 | 3,879 | 3,546 | 3,369 | 3,206 | 3,078 | 2,764 | 2,576 |
| Current Assets | 11.9% | 4,878 | 4,359 | 3,810 | 2,982 | 2,953 | 3,208 | 3,601 | 3,964 | 3,908 | 3,781 | 2,740 | 2,385 | 2,209 | 2,035 | 2,769 | 2,466 | 2,361 | 2,313 | 2,221 | 2,078 | 1,885 |
| Cash Equivalents | 3.1% | 2,376 | 2,304 | 1,683 | 964 | 710 | 924 | 1,319 | 1,852 | 1,879 | 1,860 | 1,062 | 882 | 916 | 626 | 1,223 | 1,176 | 1,022 | 1,217 | 1,112 | 1,169 | 972 |
| Inventory | 24.3% | 376 | 303 | 265 | 216 | 195 | 185 | 176 | 178 | 150 | 150 | 140 | 135 | 126 | 105 | 118 | 99.00 | 86.00 | 88.00 | 90.00 | 81.00 | 78.00 |
| Net PPE | 7.0% | 982 | 917 | 899 | 890 | 815 | 787 | 688 | 557 | 507 | 494 | 448 | 419 | 393 | 374 | 344 | 306 | 285 | 272 | 271 | 265 | 256 |
| Goodwill | -1.4% | 126 | 128 | 128 | 120 | 121 | 124 | 125 | 128 | 99.00 | 99.00 | 93.00 | 68.00 | 67.00 | 67.00 | 67.00 | 38.00 | 38.00 | 38.00 | - | - | - |
| Liabilities | 5.0% | 7,165 | 6,821 | 6,510 | 5,959 | 5,674 | 5,418 | 5,121 | 4,835 | 4,509 | 4,301 | 3,189 | 2,873 | 2,787 | 2,670 | 2,537 | 2,345 | 2,247 | 2,148 | 2,068 | 1,872 | 1,796 |
| Current Liabilities | 7.3% | 3,501 | 3,262 | 3,078 | 2,780 | 2,635 | 2,511 | 2,318 | 2,198 | 1,999 | 1,880 | 1,830 | 1,646 | 1,612 | 1,543 | 1,456 | 1,342 | 1,294 | 1,254 | 1,256 | 1,112 | 1,085 |
| LT Debt, Non Current | 0.0% | 991 | 991 | 990 | 990 | 989 | 989 | 988 | 988 | 988 | 987 | - | - | - | - | - | - | - | - | - | - | - |
| Shareholder's Equity | 2717.5% | 321 | 11.00 | -281 | - | -379 | 233 | 798 | 1,136 | 1,050 | 981 | 856 | 713 | 567 | 557 | 1,342 | 1,218 | 1,139 | 1,058 | 1,026 | 892 | 780 |
| Retained Earnings | 20.5% | -1,032 | -1,298 | -1,546 | -1,860 | -1,607 | -1,003 | -467 | -138 | -195 | -244 | -352 | -466 | -613 | -589 | 161 | 47.00 | -9.00 | -50.00 | -57.50 | -156 | -214 |
| Additional Paid-In Capital | 3.7% | 1,376 | 1,327 | 1,284 | 1,250 | 1,237 | 1,236 | 1,254 | 1,258 | 1,246 | 1,225 | 1,207 | 1,179 | 1,154 | 1,128 | 1,180 | 1,153 | 1,130 | 1,108 | 1,068 | 1,048 | 996 |
| Shares Outstanding | 0.2% | 786 | 784 | 782 | 780 | 795 | 803 | 810 | 818 | 817 | 815 | 813 | 811 | 808 | 853 | 859 | 857 | 856 | 851 | 849 | 849 | 843 |
| Minority Interest | - | - | - | - | 12.00 | 13.00 | 16.00 | 17.00 | 18.00 | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | 9.5% | 2,204 | 2,012 | 1,731 | 1,569 | 1,485 | 1,580 | 1,500 | 1,429 | 1,251 | 1,080 | 1,084 | 978 | 978 | 926 | 808 | 798 | 753 | 701 | 639 | 616 | 602 |
| Share Based Compensation | 4.7% | 231 | 220 | 217 | 216 | 214 | 212 | 208 | 204 | 200 | 196 | 192 | 187 | 180 | 176 | 174 | 173 | 174 | 169 | 163 | 155 | 146 |
| Cashflow From Investing | -93.6% | 49.00 | 767 | 764 | 281 | -324 | -897 | -1,325 | -1,124 | -1,041 | -550 | -72.80 | -107 | 90.00 | -458 | -502 | -530 | -492 | -148 | -134 | 58.00 | 18.00 |
| Cashflow From Financing | 58.1% | -585 | -1,398 | -2,130 | -2,736 | -2,328 | -1,619 | 83.00 | 664 | 753 | 705 | -1,171 | -1,163 | -1,173 | -1,058 | -195 | -261 | -211 | -170 | -202 | -410 | -500 |
| Buy Backs | -61.5% | 500 | 1,300 | 1,991 | 2,563 | 2,172 | 1,463 | 742 | 235 | 126 | 180 | 1,080 | 1,064 | 1,090 | 979 | 145 | 216 | 190 | 157 | 212 | 439 | 530 |
FTNT Income Statement
2023-06-30Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| REVENUE: | ||||
| Total revenue | $ 1,292.8 | $ 1,030.1 | $ 2,555.1 | $ 1,984.9 |
| COST OF REVENUE: | ||||
| Total cost of revenue | 295.8 | 250.8 | 603.6 | 504.6 |
| GROSS PROFIT: | ||||
| Total gross profit | 997.0 | 779.3 | 1,951.5 | 1,480.3 |
| OPERATING EXPENSES: | ||||
| Research and development | 153.3 | 124.3 | 304.4 | 249.2 |
| Sales and marketing | 515.9 | 415.5 | 994.2 | 803.1 |
| General and administrative | 49.9 | 45.4 | 102.7 | 84.0 |
| Gain on intellectual property matter | (1.1) | (1.2) | (2.3) | (2.3) |
| Total operating expenses | 718.0 | 584.0 | 1,399.0 | 1,134.0 |
| OPERATING INCOME | 279.0 | 195.3 | 552.5 | 346.3 |
| INTEREST INCOME | 31.6 | 2.4 | 52.2 | 3.7 |
| INTEREST EXPENSE | (5.2) | (4.5) | (10.2) | (9.0) |
| OTHER EXPENSE—NET | (6.2) | (9.3) | (4.2) | (18.4) |
| INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENT | 299.2 | 183.9 | 590.3 | 322.6 |
| PROVISION FOR (BENEFIT FROM) INCOME TAXES | 27.6 | 2.4 | 48.9 | (5.7) |
| LOSS FROM EQUITY METHOD INVESTMENT | (5.3) | (8.1) | (27.4) | (16.6) |
| NET INCOME INCLUDING NON-CONTROLLING INTERESTS | 266.3 | 173.4 | 514.0 | 311.7 |
| LESS: NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS, NET OF TAX | 0.0 | (0.1) | 0.0 | (0.2) |
| NET INCOME ATTRIBUTABLE TO FORTINET, INC. | $ 266.3 | $ 173.5 | $ 514.0 | $ 311.9 |
| Net income per share attributable to Fortinet, Inc. (Note 9): | ||||
| Basic (in dollars per share) | $ 0.34 | $ 0.22 | $ 0.66 | $ 0.39 |
| Diluted (in dollars per share) | $ 0.33 | $ 0.21 | $ 0.65 | $ 0.38 |
| Weighted-average shares used to compute net income per share attributable to Fortinet, Inc.: | ||||
| Basic (in shares) | 785.0 | 795.4 | 784.1 | 799.4 |
| Diluted (in shares) | 795.9 | 810.1 | 794.7 | 815.4 |
| Product | ||||
| REVENUE: | ||||
| Total revenue | $ 472.6 | $ 400.7 | $ 973.3 | $ 771.7 |
| COST OF REVENUE: | ||||
| Total cost of revenue | 174.5 | 155.2 | 368.1 | 316.2 |
| GROSS PROFIT: | ||||
| Total gross profit | 298.1 | 245.5 | 605.2 | 455.5 |
| Service | ||||
| REVENUE: | ||||
| Total revenue | 820.2 | 629.4 | 1,581.8 | 1,213.2 |
| COST OF REVENUE: | ||||
| Total cost of revenue | 121.3 | 95.6 | 235.5 | 188.4 |
| GROSS PROFIT: | ||||
| Total gross profit | $ 698.9 | $ 533.8 | $ 1,346.3 | $ 1,024.8 |
FTNT Balance Sheet
2023-06-30Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 2,376.3 | $ 1,682.9 |
| Short-term investments | 915.1 | 502.6 |
| Marketable equity securities | 22.1 | 25.5 |
| Accounts receivable—net | 1,078.8 | 1,261.7 |
| Inventory | 376.3 | 264.6 |
| Prepaid expenses and other current assets | 109.5 | 73.1 |
| Total current assets | 4,878.1 | 3,810.4 |
| LONG-TERM INVESTMENTS | 4.2 | 45.5 |
| PROPERTY AND EQUIPMENT—NET | 981.9 | 898.5 |
| DEFERRED CONTRACT COSTS | 558.8 | 518.2 |
| DEFERRED TAX ASSETS | 729.2 | 569.4 |
| GOODWILL | 126.0 | 128.0 |
| OTHER INTANGIBLE ASSETS—NET | 44.6 | 56.0 |
| OTHER ASSETS | 163.3 | 202.0 |
| TOTAL ASSETS | 7,486.1 | 6,228.0 |
| CURRENT LIABILITIES: | ||
| Accounts payable | 238.3 | 243.4 |
| Accrued liabilities | 266.8 | 248.7 |
| Accrued payroll and compensation | 224.8 | 219.4 |
| Income taxes payable | 183.0 | 17.6 |
| Deferred revenue | 2,587.7 | 2,349.3 |
| Total current liabilities | 3,500.6 | 3,078.4 |
| DEFERRED REVENUE | 2,540.9 | 2,291.0 |
| INCOME TAX LIABILITIES | 59.1 | 67.8 |
| LONG-TERM DEBT | 991.3 | 990.4 |
| OTHER LIABILITIES | 73.0 | 82.0 |
| Total liabilities | 7,164.9 | 6,509.6 |
| COMMITMENTS AND CONTINGENCIES (Note 11) | ||
| STOCKHOLDERS’ EQUITY (DEFICIT): | ||
| Common stock, $0.001 par value—1,500.0 shares authorized; 785.6 and 781.5 shares issued and outstanding on June 30, 2023 and December 31, 2022, respectively | 0.8 | 0.8 |
| Additional paid-in capital | 1,375.9 | 1,284.2 |
| Accumulated other comprehensive loss | (23.1) | (20.2) |
| Accumulated deficit | (1,032.4) | (1,546.4) |
| Total stockholders’ equity (deficit) | 321.2 | (281.6) |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | $ 7,486.1 | $ 6,228.0 |
Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention, anti-malware, virtual private network, application control, web filtering, anti-spam, and wide area network acceleration. The company also provides FortiSwitch product family that offers secure switching solutions for connecting customers their end devices; FortiAP product family, which provides secure wireless networking solutions; FortiExtender, a hardware appliance; FortiAnalyzer product family, which offers centralized network logging, analyzing, and reporting solutions; and FortiManager product family that provides central and scalable management solution for its FortiGate products. It offers FortiWeb product family provides web application firewall solutions; FortiMail product family that secure email gateway solutions; FortiSandbox technology that delivers proactive detection and mitigation services; FortiClient that provides endpoint protection with pattern-based anti-malware, behavior-based exploit protection, web-filtering, and an application firewall; FortiToken and FortiAuthenticator product families for multi-factor authentication to safeguard systems, assets, and data; and FortiEDR/XDR, an endpoint protection solution that provides both comprehensive machine-learning anti-malware execution and real-time post-infection protection. It provides security subscription, technical support, professional, and training services. It sells its security solutions to channel partners and directly to various customers in telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare industries. It has strategic alliance with Linksys. Fortinet, Inc. was incorporated in 2000 and is headquartered in Sunnyvale, California.