FTNT Q1 2024 Earnings — Fortinet, Inc. Revenue & Financial Results | Market Cap Arena

FTNTFortinet, Inc.

$63B

Q1 2024 Earnings

Technology Software - Infrastructure

Income Statement

Revenue

$1.4B+7.2% YoY

Gross Profit

$1.0B77.5% margin

Operating Income

$321M23.7% margin

Net Income

$299M22.1% margin

EPS (Diluted)

$0.39

QoQ Revenue Growth

-4.4%

Cash Flow

Operating Cash Flow

$830M

Free Cash Flow

$609M

Stock-Based Comp.

$62M

Balance Sheet

Total Assets

$7.7B

Total Liabilities

$7.8B

Stockholders' Equity

-$138M

Cash & Equivalents

$1.9B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.4B	$1.3B	+7.2%
Gross Profit	$1.0B	$955M	+9.9%
Operating Income	$321M	$274M	+17.4%
Net Income	$299M	$248M	+20.8%

Revenue Segments

Security Subscription

$537M40%

Product

$409M30%

Technical Support and Other

$408M30%

Geographic Segments

Americas

$557M41%

Europe, Middle East and Africa

$539M40%

Asia Pacific and Japan

$257M19%