Fortinet Reports Second Quarter 2024 Financial Results
Fortinet News, Tuesday, August 6th, 2024
Record quarterly GAAP and Non-GAAP operating margins; Raises 2024 revenue and Non-GAAP operating margin guidance; Continuing to invest in the fast-growing Unified SASE and Security Operations markets
Fortinet announced financial results for the second quarter ended June 30, 2024.
'In the second quarter, we successfully balanced growth and profitability as our non-GAAP operating margin increased 820 basis points year-over-year to a company record of 35.1%1, while billings and revenue were at the high end of their respective guidance ranges,' said Ken Xie, Founder, Chairman and Chief Executive Officer of Fortinet.
'We are continuing to execute our strategy to invest in the fast-growing Unified SASE and Security Operations markets, while gaining market share in Secure Networking. We expect to emerge as a SASE leader, as we are the only vendor in the Gartner Magic Quadrant for Single-Vendor SASE that is also recognized in five different network security Magic Quadrant reports.