Fortinet, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: FTNT · Form: 10-Q · Filed: 2024-05-06T00:00:00.000Z
Sentiment: neutral
Topics: Fortinet, FTNT, 10-Q, Quarterly Report, Cybersecurity
TL;DR
<b>Fortinet, Inc. filed its Q1 2024 10-Q report detailing financial positions and operational data.</b>
AI Summary
Fortinet, Inc. (FTNT) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. Fortinet, Inc. filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's principal executive offices are located at 909 Kifer Road, Sunnyvale, CA 94086. Fortinet, Inc. is classified under SIC code 3577 for Computer Peripheral Equipment, NEC. The filing includes data related to common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings as of various dates in 2023 and 2024.
Why It Matters
For investors and stakeholders tracking Fortinet, Inc., this filing contains several important signals. This 10-Q filing provides investors and analysts with the latest quarterly financial performance and position of Fortinet, Inc., crucial for valuation and investment decisions. Understanding the breakdown of revenue segments (Products vs. Services) and changes in equity accounts offers insights into the company's growth drivers and financial health.
Risk Assessment
Risk Level: low — Fortinet, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant negative news, indicating a low level of immediate risk from this specific document.
Analyst Insight
Monitor future filings for revenue growth trends in product vs. service segments and changes in the company's cash and debt positions.
Key Numbers
- 2024-03-31 — Reporting Period End Date (The end date of the quarterly period covered by the 10-Q.)
- 2024-01-01 — Reporting Period Start Date (The start date of the quarterly period covered by the 10-Q.)
- 2024-05-06 — Filing Date (The date the 10-Q was filed with the SEC.)
Key Players & Entities
- Fortinet, Inc. (company) — Filer name and company being reported on.
- 909 Kifer Road, Sunnyvale, CA 94086 (location) — Business and mailing address of Fortinet, Inc.
- 3577 (industry_code) — Standard Industrial Classification code for Fortinet, Inc.
FAQ
When did Fortinet, Inc. file this 10-Q?
Fortinet, Inc. filed this Quarterly Report (10-Q) with the SEC on May 6, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Fortinet, Inc. (FTNT).
Where can I read the original 10-Q filing from Fortinet, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Fortinet, Inc..
What are the key takeaways from Fortinet, Inc.'s 10-Q?
Fortinet, Inc. filed this 10-Q on May 6, 2024. Key takeaways: Fortinet, Inc. filed a 10-Q report for the quarterly period ended March 31, 2024.. The filing covers the period from January 1, 2024, to March 31, 2024.. The company's principal executive offices are located at 909 Kifer Road, Sunnyvale, CA 94086..
Is Fortinet, Inc. a risky investment based on this filing?
Based on this 10-Q, Fortinet, Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant negative news, indicating a low level of immediate risk from this specific document.
What should investors do after reading Fortinet, Inc.'s 10-Q?
Monitor future filings for revenue growth trends in product vs. service segments and changes in the company's cash and debt positions. The overall sentiment from this filing is neutral.
How does Fortinet, Inc. compare to its industry peers?
Fortinet operates in the cybersecurity industry, providing a broad range of security solutions including firewalls, antivirus, intrusion prevention, and secure access.
Are there regulatory concerns for Fortinet, Inc.?
As a publicly traded company, Fortinet is subject to SEC regulations requiring regular filings like the 10-Q to ensure transparency for investors.
Industry Context
Fortinet operates in the cybersecurity industry, providing a broad range of security solutions including firewalls, antivirus, intrusion prevention, and secure access.
Regulatory Implications
As a publicly traded company, Fortinet is subject to SEC regulations requiring regular filings like the 10-Q to ensure transparency for investors.
What Investors Should Do
- Review the full 10-Q for detailed financial statements and management's discussion and analysis.
- Compare Q1 2024 revenue and profitability metrics against prior periods and analyst expectations.
- Analyze the company's balance sheet for changes in assets, liabilities, and equity.
Key Dates
- 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q.
- 2024-05-06: Filing Date — Date the 10-Q was officially submitted to the SEC.
Year-Over-Year Comparison
This filing represents the first quarterly report for fiscal year 2024, following the 2023 annual report.
From the Filing
0001262039-24-000020.txt : 20240506 0001262039-24-000020.hdr.sgml : 20240506 20240506163404 ACCESSION NUMBER: 0001262039-24-000020 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 78 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240506 DATE AS OF CHANGE: 20240506 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Fortinet, Inc. CENTRAL INDEX KEY: 0001262039 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER PERIPHERAL EQUIPMENT, NEC [3577] ORGANIZATION NAME: 06 Technology IRS NUMBER: 770560389 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-34511 FILM NUMBER: 24918082 BUSINESS ADDRESS: STREET 1: 909 KIFER ROAD CITY: SUNNYVALE STATE: CA ZIP: 94086 BUSINESS PHONE: 408-235-7700 MAIL ADDRESS: STREET 1: 909 KIFER ROAD CITY: SUNNYVALE STATE: CA ZIP: 94086 FORMER COMPANY: FORMER CONFORMED NAME: FORTINET INC DATE OF NAME CHANGE: 20030902 10-Q 1 ftnt-20240331.htm FORM 10-Q ftnt-20240331 0001262039 false 2024 Q1 12/31 P1Y P2Y P3Y P1Y P2Y P3Y 367 0001262039 2024-01-01 2024-03-31 0001262039 2024-05-03 xbrli:shares 0001262039 2024-03-31 iso4217:USD 0001262039 2023-12-31 iso4217:USD xbrli:shares 0001262039 us-gaap:ProductMember 2024-01-01 2024-03-31 0001262039 us-gaap:ProductMember 2023-01-01 2023-03-31 0001262039 us-gaap:ServiceMember 2024-01-01 2024-03-31 0001262039 us-gaap:ServiceMember 2023-01-01 2023-03-31 0001262039 2023-01-01 2023-03-31 0001262039 us-gaap:RetainedEarningsMember 2024-01-01 2024-03-31 0001262039 us-gaap:CommonStockMember 2023-12-31 0001262039 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001262039 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001262039 us-gaap:RetainedEarningsMember 2023-12-31 0001262039 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001262039 us-gaap:AdditionalPaidInCapitalMember 2024-01-01 2024-03-31 0001262039 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0001262039 us-gaap:CommonStockMember 2024-03-31 0001262039 us-gaap:AdditionalPaidInCapitalMember 2024-03-31 0001262039 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-03-31 0001262039 us-gaap:RetainedEarningsMember 2024-03-31 0001262039 us-gaap:CommonStockMember 2022-12-31 0001262039 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001262039 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001262039 us-gaap:RetainedEarningsMember 2022-12-31 0001262039 2022-12-31 0001262039 us-gaap:CommonStockMember 2023-01-01 2023-03-31 0001262039 us-gaap:AdditionalPaidInCapitalMember 2023-01-01 2023-03-31 0001262039 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0001262039 us-gaap:RetainedEarningsMember 2023-01-01 2023-03-31 0001262039 us-gaap:CommonStockMember 2023-03-31 0001262039 us-gaap:AdditionalPaidInCapitalMember 2023-03-31 0001262039 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-03-31 0001262039 us-gaap:RetainedEarningsMember 2023-03-31 0001262039 2023-03-31 0001262039 ftnt:SecuritySubscriptionMember 2024-01-01 2024-03-31 0001262039 ftnt:SecuritySubscriptionMember 2023-01-01 2023-03-31 0001262039 ftnt:TechnicalSupportandOtherMember 2024-01-01 2024-03-31 0001262039 ftnt:TechnicalSupportandOtherMember 2023-01-01 2023-03-31 0001262039 2024-04-01 2024-03-31 0001262039 us-gaap:USTreasuryAndGovernmentMember 2024-03-31 0001262039 us-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember 2024-03-31 0001262039 ftnt:CertificatesofDepositandTermDepositsMember 2024-03-31 0001262039 us-gaap:CorporateDebtSecuritiesMember 2024-03-31 0001262039 us-gaap:USTreasuryAndGovernmentMember 2023-12-31 0001262039 us-gaap:CommercialPaperNotIncludedWithCashAndCashEquivalentsMember 2023-12-31 0001262039 ftnt:CertificatesofDepositandTermDepositsMember 2023-12-31 0001262039 us-gaap:CorporateDebtSecuritiesMember 2023-12-31 0001262039 ftnt:EquitySecuritiesLineItemMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:CarryingReportedAmountFairValueDisclosureMember 2024-03-31 0001262039 ftnt:EquitySecuritiesLineItemMember us-g