Fortinet Stock Price, News & Analysis

Fortinet (FTNT) reported strong Q1 2022 results with total revenue of $954.8 million, up 34% year over year, and product revenue soaring 54% to $371.0 million. Bookings increased 50% to $1.28 billion, while deferred revenue reached $3.66 billion, up 33%. GAAP diluted net income per share was $0.84, and non-GAAP at $0.94. The company expects Q2 2022 revenue between $1.005 billion and $1.035 billion, with billings of $1.225 billion to $1.265 billion. Guidance for FY 2022 suggests revenue of $4.350 billion to $4.400 billion.

Fortinet (NASDAQ: FTNT) has introduced new FortiGate appliances that integrate ASIC-based performance acceleration and AI-powered FortiGuard Security Services to enhance cybersecurity across campus, branch, and hybrid data center environments. The models FortiGate 600F, 3700F, and 70F offer superior performance metrics, with the 600F boasting up to 140 Gbps firewall performance. These appliances enable organizations to achieve better ROI and scale against advanced threats, driven by FortiOS’s consistent architecture across deployment types.

Masergy, Fortinet, and Ingram Micro have partnered to introduce a new distribution channel for managed SD-WAN services, aimed at value-added resellers and managed service providers. This solution combines networking, security, and services, enabling partners to expand into new markets without significant upfront investment. Notable benefits include recurring revenue opportunities, low barriers to entry, and enhanced client loyalty. The initiative targets the rapidly growing SD-WAN market, responding to increasing demand for hybrid work connectivity and security.

Fortinet has launched a new Security Awareness and Training service to enhance employee cybersecurity skills and knowledge. The service, developed by the Fortinet Training Institute, is informed by FortiGuard Labs threat intelligence and aims to help organizations strengthen their security posture against cyber threats. According to a recent survey, 73% of organizations experienced intrusions linked to cybersecurity skill gaps. The training aligns with NIST 800-50 and NIST 800-16 guidelines and addresses increasing ransomware threats, which rose by 10.7x in 2021.

Fortinet (NASDAQ: FTNT) announced a conference call scheduled for May 4, 2022, at 1:30 PM Pacific Time to discuss its Q1 2022 financial results. The call will be broadcast live on their investor relations website. Participants can access the call by dialing designated domestic and international numbers with a conference ID. Fortinet is a leader in integrated cybersecurity solutions, serving over 565,000 customers globally.

Fortinet (NASDAQ: FTNT) has announced the release of FortiOS 7.2, enhancing its cybersecurity solutions with over 300 new features. The updates aim to strengthen the convergence of networking and security across various platforms, crucial for managing today's hybrid networks. New AI-powered security services, including Inline Sandbox and Advanced Device Protection, focus on real-time threat prevention and improved operational efficiency. Following 20 years of research and development, Fortinet positions itself as a leader in the cybersecurity landscape, crucial for digital acceleration.

Spectrotel, a leading integrated communication provider, announced that its Secure SD-WAN service, powered by Fortinet, received the 2022 INTERNET TELEPHONY SD-WAN Product of the Year Award. This award recognizes innovation and execution in software-based networking tools. The Secure SD-WAN offers nationwide coverage, application layer security, and quality-based traffic management. As remote work becomes prevalent, this service provides a streamlined solution for integrated networking and security, allowing customers to manage their operations effectively.