Following Fortinet's management long-term guidance at an analyst day meeting, it's noted that the 2026 and 2027 firewall end-of-support cycle and the enhanced engagement for Unified SASE and Security Operations are key factors underpinning future prospects. No guidance was proffered for 2025, leading to some uncertainty surrounding the scale of the imminent firewall refresh cycle. Nonetheless, the three- to five-year guidance figures were considered solid, indicating potential for future growth.

Following an in-person analyst day, excitement surrounds Fortinet's broad platform strategy which spans Secure Networking, SASE, and SecOps, energized further by the impending firewall refresh cycle. While the mid-term targets presented were largely anticipated, there appears to be potential for surpassing these expectations.

The company's vision and strategy were clearly presented during its analyst day, highlighting multiple intrinsic platform advantages in exploiting technology convergence to capitalize on a substantial market opportunity. However, there's an observation that the company's growth drivers currently represent a minor portion of the overall mix. Additionally, there's a continual risk that competitive pressures could impede growth and affect profit margins.