FTNT Q1 2023 Earnings — Fortinet, Inc. Revenue & Financial Results | Market Cap Arena

FTNTFortinet, Inc.

$63B

Q1 2023 Earnings

Technology Software - Infrastructure

Income Statement

Revenue

$1.3B+32.2% YoY

Gross Profit

$955M75.6% margin

Operating Income

$274M21.7% margin

Net Income

$248M19.6% margin

EPS (Diluted)

$0.31

QoQ Revenue Growth

-1.6%

Cash Flow

Operating Cash Flow

$678M

Free Cash Flow

$647M

Stock-Based Comp.

$56M

Balance Sheet

Total Assets

$6.8B

Total Liabilities

$6.8B

Stockholders' Equity

$11M

Cash & Equivalents

$2.3B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.3B	$955M	+32.2%
Gross Profit	$955M	$701M	+36.2%
Operating Income	$274M	$151M	+81.1%
Net Income	$248M	$138M	+79.0%

Revenue Segments

Product

$501M40%

Security Subscription

$422M33%

Technical Support and Other

$340M27%

Geographic Segments

Americas

$524M41%

Europe, Middle East and Africa

$478M38%

Asia Pacific and Japan

$261M21%