Fortinet is a provider of network security appliances and unified threat management (UTM). The Company's products and subscription services provide broad, integrated and high-performance protection against dynamic security threats while simplifying the IT security infrastructure. Fortinet’s flagship FortiGate product delivers ASIC-accelerated performance and integrates multiple layers of security designed to help protect against application and network threats. The Company's product line goes beyond UTM to help secure the extended enterprise – from endpoints to the perimeter and the core, including databases and applications.
Type
Public
HQ
Sunnyvale, US
Founded
2000
Size (employees)
4,665 (est)
Fortinet was founded in 2000 and is headquartered in Sunnyvale, US
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Key People/Management at Fortinet

Ken Xie

Ken Xie

Founder, Chairman of the Board, and Chief Executive Officer (CEO)
Patrice Perche

Patrice Perche

Sr. Executive Vice President, Worldwide Sales and Support
John Whittle

John Whittle

Vice President, Corporate Development and Strategic Alliances, General Counsel
Keith Jensen

Keith Jensen

Interim Chief Financial Officer (CFO)
Philip Quade

Philip Quade

Chief Information Security Officer
John Maddison

John Maddison

Sr. Vice President, Products and Solutions
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Fortinet Office Locations

Fortinet has offices in Singapore, Reston, Sunnyvale, Valbonne and in 40 other locations
Sunnyvale, US (HQ)
899 Kifer Rd
New York, US
4400 1 Pennsylvania Plaza
Reston, US
140 12005 Sunrise Valley Dr
Rochester, US
1200 Brooks Ave
Sunrise, US
430 13450 W Sunrise Blvd
Sydney, AU
10 2 Loftus St
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Fortinet Financials and Metrics

Fortinet Financials

Fortinet's revenue was reported to be $1.49 b in FY, 2017
USD

Revenue (FY, 2017)

1.5 b

Gross profit (FY, 2017)

1.1 b

Gross profit margin (FY, 2017), %

74.2%

Net income (FY, 2017)

31.4 m

EBIT (FY, 2017)

109.8 m

Market capitalization (23-Apr-2018)

10.1 b

Cash (31-Dec-2017)

811 m
Fortinet's current market capitalization is $10.1 b.
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

615.3 m770.4 m1 b1.3 b1.5 b

Revenue growth, %

25%31%26%

Cost of goods sold

180.6 m231 m286.8 m337.8 m385.3 m

Gross profit

434.7 m539.4 m722.5 m937.6 m1.1 b
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

154.7 m168.9 m184.1 m193.3 m212.9 m239.8 m260.1 m284.6 m311.4 m316.6 m340.6 m363.5 m374.2 m

Cost of goods sold

43.9 m50.7 m57.8 m56.9 m63.6 m69.5 m71.7 m77.7 m84.5 m84.8 m90.6 m95.7 m93.6 m

Gross profit

110.8 m118.2 m126.3 m136.5 m149.3 m170.3 m188.4 m206.8 m226.9 m231.8 m250 m267.8 m280.6 m

Gross profit Margin, %

72%70%69%71%70%71%72%73%73%73%73%74%75%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

115.9 m283.3 m543.3 m709 m811 m

Accounts Receivable

Inventories

14.1 m31.1 m35.8 m106.9 m77.3 m

Current Assets

735.5 m1 b1.3 b1.5 b1.7 b
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

203.9 m258.1 m386.4 m481.4 m540.7 m568 m596.4 m647.5 m823.2 m853.1 m905.8 m

Inventories

46.8 m51.3 m72.1 m68.8 m80.7 m78.2 m81.2 m93.7 m105 m86.4 m73.6 m

Current Assets

806.9 m896.4 m1.1 b1.2 b1.3 b1.3 b1.4 b1.4 b1.6 b1.6 b1.7 b

Goodwill

2.8 m2.8 m2.8 m2.8 m4.3 m4.7 m14.2 m14.6 m14.6 m14.6 m14.6 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

44.3 m25.3 m8 m32.2 m31.4 m

Depreciation and Amortization

15.6 m22 m31.6 m48.5 m55.5 m

Inventories

(907 k)(16 m)(2.6 m)(43 m)9.4 m

Accounts Payable

10.5 m18 m(2.5 m)39 k13.1 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

11 m8.4 m6.1 m4.1 m1.6 m792 k8.2 m(3.4 m)(1.4 m)6.3 m10.7 m

Depreciation and Amortization

4.4 m

Inventories

3.3 m46.8 m51.3 m72.1 m68.8 m80.7 m78.2 m81.2 m93.7 m105 m

Accounts Payable

(6 m)35.8 m36.5 m40.2 m42.3 m48.8 m48 m56.9 m57.5 m48.7 m
USDY, 2017

Revenue/Employee

320.5 k

Financial Leverage

3.8 x
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Fortinet Operating Metrics

Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Jun, 2017Q2, 2017Q3, 2017

Billings

$187.62 m$213 m$213.16 m$896.49 m$254.30 m$297.18 m$299.62 m$1.23 b$330.46 m$373.78 m$347.46 m$1.52 b$403.28 m$426.89 m$431.70 m

Countries

30 70 80

Patents Issued

191 278 358 380

Patents Pending

156 236 292 298
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Fortinet News and Updates

Cyber Threat Alliance blows out one candle on its celebratory cake

With tens of thousands of cybersecurity professionals attending the RSA Conference in San Francisco, California, this month, the chances were good that a few of them celebrated birthdays. But it’s unlikely that any of them celebrated a birthday as recent as Michael Daniel (pictured), because his mil…

The art of cybersecurity: Know your enemy and join forces with friends

It’s a scenario straight from sci-fi; zombies (compromised devices that can be remotely directed) are bonded into hivenets or swarmbots (intelligent clusters of compromised devices) and coordinated to attack with malicious intent. Brave cybersecurity professionals rally to fight the forces of evil, …

Symantec, Fortinet announce new security tools with analytics, automation for cyber response

Symantec's technology can give hospitals advanced automated detection of targeted attacks while Fortinet's new product helps bridge the gap between network operations and security operations centers.

Are unified communication systems holding the door open for hackers?

Protecting an organization’s network might be for nothing if its firewall is opening ports for voice and video communications and doesn’t know when to close them. A denial of service attack on a unified communications system can disrupt more than voice, text and video, potentially allowing hackers t…

FortiOS 6.0 dynamically covers digital attack surfaces

Security threats loom larger every day as digital attack surfaces become larger and more dynamic and the bad guys morph fast, creating potential chaos with targeted and zero-day attacks. “A point product these days just can’t cope. … You need solutions against specific threat vectors that are applie…
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