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Fortinet (FTNT)
NASDAQ:FTNT
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.61Last Year’s EPS
$0.51Same Quarter Last Year
Moderate Buy
Based on 30 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 16.14%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance and growth in key areas such as Unified SASE and security operations, with record margins and revenue growth. However, there were concerns about the maturation of large deals and moderate product revenue growth, which could impact future billings.Company Guidance
During the Fortinet Q3 2024 earnings call, the executives provided guidance for the upcoming quarter and full year, with an optimistic outlook on sustained growth across their core business areas. For Q4 2024, Fortinet anticipates billings between $1.9 billion and $1.95 billion, representing a 5% growth at the midpoint, while revenue is expected to range from $1.56 billion to $1.62 billion, reflecting a 12% growth at the midpoint. The non-GAAP gross margin is projected to be between 79.5% and 80.5%, with an operating margin of 33% to 34%. The company also expects non-GAAP earnings per share of $0.58 to $0.62. For the full year, Fortinet raised its revenue guidance to a range of $5.856 billion to $5.916 billion, indicating an 11% growth at the midpoint. The company continues to focus on expanding its Unified SASE and security operations, with significant growth in these areas contributing to their confidence in achieving their seventh consecutive year of exceeding the rule of 40.Strong Financial Performance
The company achieved record gross margins and operating margins, with operating margin increasing by 830 basis points to over 36%.
Revenue and Growth
Total revenue grew 13%, driven by strong growth in services revenue, and product revenues returned to growth.
Unified SASE and Security Operations
Unified SASE building growth was 14% and security operation building growth was 32%.
Recognition and Market Position
Fortinet was recognized as a leader in the 2024 government magic quadrant for SD-WAN for the fifth consecutive year.
Customer Wins
Significant customer wins include a 7-figure upsell deal with a retail industry SD-WAN customer and an 8-figure win with a multinational bank.
Strong ARR Growth
The SaaS solution organic ARR growth rate was 74%.
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FTNT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FTNT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $83.68 | $92.04 | +9.99% |
| Aug 06, 2024 | $55.81 | $69.93 | +25.30% |
| May 02, 2024 | $65.20 | $58.88 | -9.69% |
| Feb 06, 2024 | $67.48 | $70.03 | +3.78% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Fortinet (FTNT) report earnings?
Fortinet (FTNT) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Fortinet (FTNT) earnings time?
Fortinet (FTNT) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FTNT EPS forecast?
FTNT EPS forecast for the fiscal quarter 2024 (Q4) is $0.61.
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