Latest news with #WestlandsAdvisory
Techday NZ
07-08-2025
- Business
- Techday NZ
Fortinet lifts outlook as quarterly revenue climbs to USD $1.63bn
Fortinet has reported financial results for the second quarter ended 30 June 2025, showing a 14 per cent year-on-year increase in revenue to USD $1.63 billion and a raised outlook for full-year billings by USD $100 million. Second quarter highlights The company's billings for the quarter reached USD $1.78 billion, a 15 per cent increase compared to the corresponding period last year. Key businesses within Fortinet's portfolio showed notable performance, including unified secure access service edge (SASE) annual recurring revenue (ARR), which grew by 22 per cent year over year, and security operations ARR, which increased by 35 per cent. Fortinet reported a generally accepted accounting principles (GAAP) operating margin of 28 per cent and a non-GAAP operating margin of 33 per cent for the quarter. Executive commentary "Our strong second quarter performance and consistent track record of growth are a direct result of our continued innovation and customer-first strategy, enabling us to beat our billings guidance for the quarter and raise our full year billings outlook. We are the industry leader in network security, with the most deployed firewalls worldwide, a New-Generation SASE Firewall, and recognised leadership in the 2025 Gartner Magic QuadrantTM for SASE Platforms. This recognition, along with our strong business momentum, financial outlook, innovation, and leadership across five separate network security Magic QuadrantTM reports, underscores the strength of our AI-driven security approach and the strategic advantage of our unified FortiOS operating system." Ken Xie, Founder, Chairman and Chief Executive Officer of Fortinet, reflected on the quarterly performance using the above statement. Industry recognition and technology developments Fortinet was recognised as a Leader in the 2025 Gartner Magic Quadrant for SASE Platforms and achieved the number one position in the Critical Capabilities for SASE Platforms report for the Secure Branch Network Modernisation use case. The company was also the only vendor mentioned in five distinct network security Magic Quadrant reports in 2025. The company expanded its FortiCloud portfolio with three new natively integrated services: FortiIdentity, FortiDrive and FortiConnect. In addition to this, Fortinet was named the Overall Leader for the third consecutive year in the Westlands Advisory IT/OT Network Protection Platform Navigator 2025 report and was recognised as a Leader in the Gartner Magic Quadrant for Enterprise Wired and Wireless LAN Infrastructure for the second year running. Fortinet was also named a Gartner Peer Insights Customers' Choice for SD-WAN for the sixth year in a row and for Endpoint Protection for the third year in succession. The company stated that it has crossed 1,400 issued patents worldwide, including over 500 issued and pending artificial intelligence-related patents, attributed to its research and development investments. Financial guidance Looking forward to the third quarter of 2025, Fortinet expects revenue in the range of USD $1.67 billion to USD $1.73 billion and billings between USD $1.76 billion and USD $1.84 billion. The company anticipates a non-GAAP gross margin of between 80.0 per cent and 81.0 per cent, with an operating margin range of 32.5 per cent to 33.5 per cent. Diluted non-GAAP net income per share is projected to be between USD $0.62 and USD $0.64, based on a non-GAAP effective tax rate of 18 per cent and a diluted share count of 772 million to 776 million shares. For the entire fiscal year 2025, projected revenue is between USD $6.675 billion and USD $6.825 billion, with service revenue expected to total between USD $4.55 billion and USD $4.65 billion. Fortinet forecasts billings in the range of USD $7.325 billion to USD $7.475 billion. Non-GAAP gross margin is anticipated to be from 79.0 per cent to 81.0 per cent, and non-GAAP operating margin from 32.0 per cent to 33.5 per cent. Diluted non-GAAP net income per share guidance is set between USD $2.47 and USD $2.53, assuming a non-GAAP effective tax rate of 18 per cent and a diluted share count of 773 million to 777 million. The company explained that its guidance on non-GAAP financial measures excludes certain items, including stock-based compensation and amortisation of acquired intangible assets, among others, due to the inherent uncertainty or unpredictability of these items.
Globe and Mail
01-07-2025
- Business
- Globe and Mail
Fortinet Recognized as the Overall Leader for the Third Time in a Row in the Westlands Advisory IT/OT Network Protection Platform Navigator 2025™ Report
SUNNYVALE, Calif., July 01, 2025 (GLOBE NEWSWIRE) -- News Summary Fortinet ® (NASDAQ: FTNT), the global cybersecurity leader driving the convergence of networking and security, today announced that Westlands Advisory, a leading OT security industry analysis and strategy firm, has once again named Fortinet as the Overall Leader in the IT/OT Network Protection Platform Navigator 2025 report, earning the top ranking in both strategic direction and capability for IT/OT. Since its inception and for the third time in a row, the latest report from Westlands Advisory highlights Fortinet's extensive OT network security experience, noting that 'OT cybersecurity has been a key strategic pillar' for Fortinet, 'resulting in significant innovation, product expansion, growing alliances, and increasing market share.' "For more than 20 years, organizations have trusted Fortinet to protect operational technology environments and ensure compliance with the evolving needs of OT infrastructures. Fortinet uniquely delivers a comprehensive OT security platform, built from the ground up with the industry's most advanced threat detection and protection capabilities to enable converged IT/OT infrastructure,' said Nirav Shah, Senior Vice President, Products and Solutions at Fortinet. 'Our latest recognition from Westlands Advisory reflects the deep and growing trust our customers, partners, and the broader OT security community place in Fortinet.' Delivering Secure IT/OT Network Convergence The Fortinet OT Security Platform is unique in its ability to provide end-to-end network segmentation, OT asset and network visibility, network segmentation and microsegmentation, and advanced threat protection in a unified platform that is centrally managed and automated. With deep integration into the Fortinet Security Fabric, the OT Security Platform improves cyber resiliency and production reliability, lowers time to deployment, and simplifies operations to further support the protection of critical infrastructure and OT infrastructure from evolving cyberthreats. The Westlands Advisory report addresses several key benefits of the Fortinet OT Security Platform for customers, including: Broad, integrated, high-performance security solutions and services across IT and OT infrastructures: Westlands Advisory highlights Fortinet's delivery of a single platform across IT and OT to help reduce cyber risks across the entire organization. The OT Security Platform, an extension of the Fortinet Security Fabric, uniquely provides the widest and deepest breadth of networking and cybersecurity solutions in the market. These solutions provide near-real-time protection through the company's AI-driven OT Security Service, powered by FortiGuard Labs, that enables OT-specific application- and protocol-based security, as well as virtual patching capabilities to shield unpatched OT assets from exploitation. As Westlands Advisory notes, the Fortinet OT Security Platform consists of over 20 products across three solution pillars: Secure Networking, Unified SASE, and Security Operations. The report goes on to say: 'In addition, the technology integration offered through the OT Security Platform extends beyond Fortinet solutions to third-party technologies, delivering a comprehensive and centralized OT service.' Cutting-edge innovation to solve urgent OT security use cases: The Fortinet OT Security Platform is also recognized by Westlands Advisory for its cutting-edge advancements and innovations that help customers solve many urgent and real OT use cases, such as asset discovery and management; network protection and segmentation; endpoint protection; secure remote access; and more. According to Westlands Advisory, 'Fortinet offers the broadest range of industrial-grade security hardware solutions, including FortiGate Rugged firewalls and FortiSwitch industrial switches… Fortinet's product roadmap is highly responsive to customer requirements and industry standards and has resulted in a number of industry awards, including the 2024 Red Dot Product Design Award [FortiGate Rugged 70G with Dual 5G Modems].' Additional recognitions include the Control Engineering 2024 Silver Product of the Year Award for FortiGate Rugged 70F, and the 2025 Gold Product of the Year Award for FortiGate Rugged 70G-5G-DUAL. The Westlands report also notes that the company's OT security innovation extends to AI and ML, 'where the focus has been on detections, understanding risk, and improving security operations.' High-performance, energy-efficient, cost-effective solutions compared to other OT security solutions: Fortinet's custom-built ASIC technology, embedded in FortiGate appliances, offers unmatched network security performance and reliability, which is critical in OT environments that run 24x7 or cannot suffer downtime. These custom ASICs, which include a networking processor and security processor, are integrated with the FortiOS operating system, allowing Fortinet to provide a comprehensive, high-performance networking and security solution that addresses the demands of modern network environments. With the recognition of the Fortinet OT Security Platform, the Westlands report underscores the importance of IT/OT convergence and reaffirms that organizations don't have to choose between performance and protection. Additional Resources Download the Westlands Advisory IT/OT Network Protection Platform Navigator 2025 report and read the blog post. Learn more about Fortinet OT security solutions. Visit to learn about Fortinet innovation, collaboration partners, product security processes, and enterprise-grade products. Read about how Fortinet customers are securing their organizations. Learn about Fortinet's commitment to product security and integrity, including its responsible product development and vulnerability disclosure approach and policies. Follow Fortinet on X, LinkedIn, Facebook, and Instagram. Subscribe to Fortinet on our blog or YouTube. About Fortinet Fortinet (Nasdaq: FTNT) is a driving force in the evolution of cybersecurity and the convergence of networking and security. Our mission is to secure people, devices, and data everywhere, and today we deliver cybersecurity everywhere our customers need it with the largest integrated portfolio of over 50 enterprise-grade products. Well over half a million customers trust Fortinet's solutions, which are among the most deployed, most patented, and most validated in the industry. The Fortinet Training Institute, one of the largest and broadest training programs in the industry, is dedicated to making cybersecurity training and new career opportunities available to everyone. Collaboration with esteemed organizations from both the public and private sectors, including Computer Emergency Response Teams ('CERTS'), government entities, and academia, is a fundamental aspect of Fortinet's commitment to enhance cyber resilience globally. FortiGuard Labs, Fortinet's elite threat intelligence and research organization, develops and utilizes leading-edge machine learning and AI technologies to provide customers with timely and consistently top-rated protection and actionable threat intelligence. Learn more at the Fortinet Blog, and FortiGuard Labs. Copyright © 2025 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet's trademarks include, but are not limited to, the following: Fortinet, the Fortinet logo, FortiGate, FortiOS, FortiGuard, FortiCare, FortiAnalyzer, FortiManager, FortiASIC, FortiClient, FortiCloud, FortiMail, FortiSandbox, FortiADC, FortiAI, FortiAIOps, FortiAgent, FortiAntenna, FortiAP, FortiAPCam, FortiAuthenticator, FortiCache, FortiCall, FortiCam, FortiCamera, FortiCarrier, FortiCASB, FortiCentral, FortiCNP, FortiConnect, FortiController, FortiConverter, FortiCSPM, FortiCWP, FortiDAST, FortiDB, FortiDDoS, FortiDeceptor, FortiDeploy, FortiDevSec, FortiDLP, FortiEdge, FortiEDR, FortiExplorer, FortiExtender, FortiFirewall, FortiFlex FortiFone, FortiGSLB, FortiGuest, FortiHypervisor, FortiInsight, FortiIsolator, FortiLAN, FortiLink, FortiMonitor, FortiNAC, FortiNDR, FortiPAM, FortiPenTest, FortiPhish, FortiPoint, FortiPolicy, FortiPortal, FortiPresence, FortiProxy, FortiRecon, FortiRecorder, FortiSASE, FortiScanner, FortiSDNConnector, FortiSIEM, FortiSMS, FortiSOAR, FortiSRA, FortiStack, FortiSwitch, FortiTester, FortiToken, FortiTrust, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLM, FortiXDR and Lacework FortiCNAPP. Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments.
