Fortinet said total revenue for Q4 2024 was $1.66 billion, up 17.3% from $1.42 billion in the same quarter of the prior year. Service revenue for the quarter was $1.09 billion and product revenue was $574.0 million.

1. 01

   Fortinet said total revenue for Q4 2024 was $1.66 billion, up 17.3% from $1.42 billion in the same quarter of the prior year. Service revenue for the quarter was $1.09 billion and product revenue was $574.0 million.

2. 02

   The company said GAAP operating income for Q4 2024 was $574.1 million, representing a GAAP operating margin of 34.6%, and non-GAAP operating income was $650.9 million, representing a non-GAAP operating margin of 39.2%. The prior-year quarter margins were 27.2% and 32.0%, respectively.

3. 03

   Fortinet said cash flow from operations for 2024 was $2.26 billion (compared to $1.94 billion in 2023) and free cash flow was $1.88 billion (compared to $1.73 billion in 2023). Free cash flow is defined as net cash provided by operating activities minus purchases of property and equipment.

4. 04

   The company said it expects 2025 revenue in the range of $6.650 billion to $6.850 billion and billings in the range of $7.200 billion to $7.400 billion. Non-GAAP operating margin guidance is 31.0% to 33.0%.

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Original filing

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