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Fortinet, Inc. reports news about its cybersecurity platform for the convergence of networking and security. Company updates commonly cover FortiGate appliances, FortiOS, Fortinet Security Fabric, SASE, SD-WAN, endpoint protection, managed detection and response, and security operations capabilities built around Fortinet ASICs, threat intelligence, and AI-enabled controls.
Recurring Fortinet news also includes quarterly financial results, billings and revenue commentary, product portfolio expansion, FortiGuard Labs threat research, cybersecurity skills-gap reports, training programs, and public-private cyber resilience initiatives. These updates reflect a business centered on enterprise-grade security products, subscriptions, support, and research across network, cloud, zero-trust, and security operations use cases.
Fortinet (NASDAQ: FTNT) forecasts a rise in cybercrime fueled by Cybercrime-as-a-Service (CaaS) in a recent report from its global threat intelligence team. This report highlights the dangers of evolving attack methods, including Ransomware-as-a-Service (RaaS) and new exploit vectors targeting edge devices and online environments. Increased automation and commoditized wiper malware are expected to escalate attacks, making security measures more essential. The report emphasizes the necessity for organizations to bolster cybersecurity with integrated threat intelligence and effective response strategies.
Fortinet (FTNT) announced Q3 2022 results, revealing total revenue of $1.15 billion, a 33% year-over-year increase, driven by product revenue of $468.7 million (+39%) and service revenue of $680.8 million (+28%). Billings rose to $1.41 billion, and deferred revenue reached $4.19 billion. GAAP diluted net income per share was $0.29, while non-GAAP diluted net income per share was $0.33. Fortinet expects Q4 revenue between $1.275 billion and $1.315 billion.
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Fortinet (NASDAQ: FTNT) announced enhancements to its FortiSASE solution, integrating cloud-delivered SD-WAN with security features to improve secure private access for users. This unified approach aims to enhance user experience and security for over 20,000 customers. Gartner predicts that by 2025, one-third of SASE deployments will involve single-vendor solutions, showing a significant market shift. Fortinet's advancements include improved support for Secure Private Access and Secure SaaS Access, representing a major step in converging networking and security services.
Fortinet announces its role as the Official Cybersecurity Partner for the BMW Ladies Championship, scheduled for October 20-23, 2022, at Oak Valley Country Club, South Korea. This sponsorship marks Fortinet's first engagement with the LPGA and its debut in Asia. The tournament features a competitive lineup of 78 players vying for a $2 million prize pool. Fortinet aims to promote inclusion and diversity in women’s professional golf while addressing the global cybersecurity skills gap through various training initiatives.
Fortinet (NASDAQ: FTNT) has partnered with Chandler Unified School District, Arizona's second largest district, to provide its over 5,200 faculty and staff with free cyber awareness training.
This initiative, part of a broader program for K-12 schools in the U.S., aims to enhance cybersecurity knowledge and reduce cyber risks. The training is tailored to recognize threats like social engineering and complies with NIST guidelines. Fortinet's service is acknowledged as a certified program by local governments, further validating its importance in safeguarding sensitive data.
Fortinet (NASDAQ: FTNT) announced a conference call to discuss its financial results for Q3 2022, scheduled for November 2 at 1:30 p.m. PT. The call will be streamed live on the investor relations website. Fortinet is recognized as a leader in cybersecurity solutions, trusted by over 595,000 customers globally. The company's Security Fabric provides comprehensive protection across various digital platforms, emphasizing its commitment to safeguard data and devices.
Fortinet has issued over 1 million Network Security Expert (NSE) certifications, reinforcing its commitment to address the cybersecurity skills gap. The Fortinet Training Institute enhances its program by introducing new courses and training partners, aiming to empower diverse talent pools including women, veterans, and students. Recent initiatives include providing free cybersecurity training to K-12 school districts in the U.S., reaching approximately 8 million staff. With over 80% of breaches attributed to skill shortages, Fortinet is utilizing its resources to bridge this critical gap in workforce capabilities.
Fortinet (NASDAQ: FTNT) has announced significant enhancements to its AIOps capabilities across its networking portfolio, including industry-first AI-based network operations for 5G/LTE gateways. These advancements aim to improve network management and uptime through proactive visibility. Fortinet has a robust background in AI, processing over 100 billion security events daily, enabling effective detection of threats. The updates, which enhance the Secure SD-WAN and Wired/Wireless LAN products, are designed to support organizations in optimizing their networks efficiently.
Fortinet (NASDAQ: FTNT) has been recognized as a Leader in the 2022 Gartner® Magic Quadrant™ for SD-WAN, marking its third consecutive year in this position. The company excelled in its ability to execute and was acknowledged for its completeness of vision. With a growing customer base, Fortinet Secure SD-WAN integrates SD-WAN and security solutions through a unified operating system, FortiOS. This recognition underscores Fortinet's commitment to enhancing user experience and supporting the digital transformation while addressing modern networking complexities.