Fortinet, Inc. (NASDAQ: FTNT) Q2 2025 Earnings | 08/07/2025

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Fortinet reported strong financial results for the second quarter of 2025, with total revenue of $1.63 billion, reflecting a 14% year-over-year increase driven by robust demand across multiple segments. Total billings grew 15% to $1.78 billion, surpassing guidance, fueled by continued momentum in Unified SASE and SecOps offerings, which increased 21% and 31% respectively. Non-GAAP earnings per share (EPS) came in at $0.64, beating analyst expectations of $0.59. Operating margins remained strong at 33.1%, slightly down 200 basis points from the prior year but 60 basis points above the high end of guidance, reflecting ongoing investments in sales headcount, recent acquisitions, and foreign exchange impacts. Gross margin guidance for the full year remains in the 79% to 81% range. Key growth drivers included more than 6,900 new customers added in the quarter adopting Fortinet’s unified FortiOS platform, with large enterprise deals over $1 million increasing by 29% in count and 51% in value. Financial services led vertical growth with over 30% billings increase. FortiSASE, the company's SSE solution, saw annual recurring revenue (ARR) double with a 65% increase in its customer base, highlighting strong adoption of AI-driven, integrated security solutions. Operational updates include significant infrastructure investments of $168 million in support of FortiSASE, FortiCloud, and related services, positioning Fortinet for accelerated innovation and market expansion. The company repurchased 4.6 million shares for $401 million during the quarter, with $1.6 billion remaining in buyback authorization. For Q3 2025, Fortinet projects revenue between $1.68 billion and $1.74 billion and total billings between $1.8 billion and $1.84 billion, while reaffirming full-year guidance with raised total billings outlook to $7.325 billion–$7.475 billion, a 13% growth from 2024. Risks noted include macroeconomic uncertainties, foreign exchange headwinds, tariff impacts, and the timing of firewall upgrade cycles, though Fortinet expects upgrade discussions to generate upselling opportunities. About Inside Ticker: Inside Ticker delivers timely, in-depth financial news and earnings analysis to empower investors with actionable insights on global companies across sectors. For comprehensive video analysis and real-time updates, visit https://www.insideticker.com/. #Fortinet #FTNT #Q22025 #Earnings #FinancialResults #Revenue #Billings #EPS #OperatingMargin #GrossMargin #UnifiedSASE #SecOps #FortiOS #FortiSASE #Cybersecurity #NetworkSecurity #AI #CloudSecurity #InfrastructureInvestment #ShareRepurchase #LargeEnterprise #FinancialServices #ARRGrowth #SecurityOperations #FirewallUpgrade #TechnologyInnovation #CloudComputing #InvestorUpdates #NASDAQ #SecuritySoftware #InsideTicker #TechnologyGrowth