Fortinet ( (FTNT) ) has released its Q1 earnings. Here is a breakdown of the information Fortinet presented to its investors.
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Fortinet, a leading global cybersecurity company, specializes in the convergence of networking and security, offering a comprehensive range of enterprise-grade products and solutions to enhance cyber resilience worldwide.
In its first quarter of 2025, Fortinet reported robust financial results with a total revenue of $1.54 billion, marking a 14% increase year over year, and a record non-GAAP operating margin of 34%. The company continues to leverage its expertise in AI-driven innovation and networking security convergence to maintain its leadership in the cybersecurity industry.
Key financial highlights include a 12% increase in product revenue to $459 million, a 14% rise in billings to $1.60 billion, and significant growth in Annual Recurring Revenue (ARR) for Unified SASE and Security Operations, up 26% and 30% respectively. Fortinet also achieved record cash flow from operations of $863 million and free cash flow of $783 million, underscoring its strong financial health.
With a strategic focus on expanding its presence in the Unified SASE and Security Operations markets, Fortinet aims to continue its growth trajectory. The company anticipates revenue for the second quarter of 2025 to be between $1.590 billion and $1.650 billion, with billings ranging from $1.685 billion to $1.765 billion.
Looking ahead, Fortinet remains committed to setting industry standards in cybersecurity through organic innovation and seamless product integration, as it navigates the evolving landscape of networking and security convergence.