FTNTFortinet, Inc.

$63B

Q1 2025 Earnings

Technology Software - Infrastructure

Income Statement

Revenue

$1.5B+13.8% YoY

Gross Profit

$1.2B81.0% margin

Operating Income

$454M29.5% margin

Net Income

$433M28.1% margin

EPS (Diluted)

$0.56

QoQ Revenue Growth

-7.3%

Cash Flow

Operating Cash Flow

$863M

Free Cash Flow

$797M

Stock-Based Comp.

$66M

Balance Sheet

Total Assets

$10.4B

Total Liabilities

$8.4B

Stockholders' Equity

$2.0B

Cash & Equivalents

$3.6B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.5B	$1.4B	+13.8%
Gross Profit	$1.2B	$1.0B	+18.9%
Operating Income	$454M	$321M	+41.3%
Net Income	$433M	$299M	+44.8%

Revenue Segments

Security Subscription

$623M40%

Product

$459M30%

Technical Support and Other

$458M30%

Geographic Segments

Americas

$630M41%

Europe, Middle East and Africa

$628M41%

Asia Pacific and Japan

$282M18%

FTNT Q1 2025 Earnings — Fortinet, Inc. Revenue & Financial Results | Market Cap Arena