{"id":54822,"date":"2025-02-25T11:17:26","date_gmt":"2025-02-25T08:17:26","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=54822"},"modified":"2026-03-28T07:33:07","modified_gmt":"2026-03-28T04:33:07","slug":"fortinet-reports-fourth-quarter-and-full-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/fortinet-reports-fourth-quarter-and-full-year-2024-financial-results\/","title":{"rendered":"Fortinet Reports Fourth Quarter and Full Year 2024 Financial Results"},"content":{"rendered":"\n<ul class=\"wp-block-list\">\n<li>Total revenue of $1.66 billion, up 17% year over year<\/li>\n\n\n\n<li>Product revenue of $574 million, up 18% year over year<\/li>\n\n\n\n<li>Ranked #7 on the Forbes Most Trusted Companies in America 2025 list, the only cybersecurity company in the top 50<\/li>\n\n\n\n<li>Total revenue of $5.96 billion, up 12% year over year<\/li>\n\n\n\n<li>Service revenue of $4.05 billion, up 20% year over year<\/li>\n\n\n\n<li>Remaining performance obligations of $6.42 billion, up 12% year over year<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Fortinet\u00ae (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the fourth quarter of 2024 and full year ended&nbsp;December&nbsp;31, 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn the fourth quarter, we successfully balanced growth and profitability as our non-GAAP operating margin&nbsp;increased 720 basis points year-over-year to a company record of 39%, while revenue grew 17%,\u201d said Ken Xie, Founder, Chairman and Chief Executive Officer of Fortinet. \u201cWe continue to execute our strategy of investing in the high-growth Unified SASE and Security Operations markets, while strengthening our position in Secure Networking. Our customers are increasingly recognizing the benefits of a single-vendor approach to SASE, and we expect to emerge as a leader in this space, being the&nbsp;only company&nbsp;to natively develop all SASE functions within a unified operating system, FortiOS, which seamlessly integrates networking and security capabilities.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-fourth-quarter-2024-performance\"><strong>Fourth Quarter 2024 Performance:<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Fortinet achieved a total revenue of $1.66 billion in the fourth quarter of 2024, reflecting a 17% year-over-year increase. The company\u2019s product revenue rose to $574 million, marking an 18% growth compared to the previous year. Billings reached $2.00 billion, a 7% increase year over year. Additionally, the company reported a record GAAP operating margin of 35% and a record Non-GAAP operating margin of 39%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the Unified SASE and Security Operations segments, Fortinet demonstrated strong growth, with ARR increasing by 28% and 32%, respectively, on a year-over-year basis. The company was also recognized for its reliability and trustworthiness, securing the #7 spot on Forbes\u2019 Most Trusted Companies in America 2025 list, making it the only cybersecurity firm among the top 50 companies.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-full-year-2024-performance\"><strong>Full Year 2024 Performance:<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">For the full year 2024, Fortinet recorded total revenue of $5.96 billion, reflecting a 12% increase from the previous year. Service revenue grew significantly to $4.05 billion, up 20% year over year. The company also achieved a record GAAP operating margin of 30% and a record Non-GAAP operating margin of 35%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Fortinet\u2019s remaining performance obligations stood at $6.42 billion, reflecting a 12% year-over-year growth. The company maintained strong financial health, generating $2.26 billion in cash flow from operations and achieving a free cash flow of $1.88 billion. Notably, Fortinet surpassed the \u2018Rule of 45\u2019 for the fifth consecutive year, underscoring its commitment to sustainable growth and profitability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These results reaffirm Fortinet\u2019s ongoing commitment to providing advanced security solutions that meet market demands and enhance its position as a leader in the cybersecurity sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fortinet\u00ae (Nasdaq: FTNT), a global cybersecurity leader driving the convergence of networking and security, today announced financial results for the fourth quarter of 2024 and full year ended&nbsp;December&nbsp;31, 2024. \u201cIn the fourth quarter, we successfully balanced growth and profitability as our non-GAAP operating margin&nbsp;increased 720 basis points year-over-year to a company record of 39%, while [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":2474,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-54822","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized 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