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Fortinet | 10-Q: Q3 2024 Earnings Report

Fortinet | 10-Q: Q3 2024 Earnings Report

飛塔信息 | 10-Q：2024財年三季報
美股SEC公告 ·  2024/11/09 05:05

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Fortinet reported strong financial results for Q3 2024, with total revenue increasing 13% year-over-year to $1.51 billion. Product revenue grew 2% to $473.9 million, while service revenue rose 19% to $1.03 billion driven by security subscription growth. Operating margin expanded significantly to 31.2% from 22.7% last year due to improved gross margins and operating leverage.The company completed two strategic acquisitions during the quarter - Lacework for $152.3 million and Next DLP for $105 million, strengthening its cloud security and data loss prevention capabilities. A gain on bargain purchase of $106.3 million was recorded related to the Lacework acquisition. Gross margin improved 6.3 percentage points to 82.5% due to reduced costs and favorable revenue mix.Looking ahead, Fortinet expects service revenue growth to continue but at a more moderate pace due to slowing deferred revenue growth. The company maintained strong cash generation with operating cash flow of $608.1 million. As of September 30, 2024, Fortinet had $3.70 billion in cash and investments, with $1.03 billion remaining under its share repurchase authorization.
Fortinet reported strong financial results for Q3 2024, with total revenue increasing 13% year-over-year to $1.51 billion. Product revenue grew 2% to $473.9 million, while service revenue rose 19% to $1.03 billion driven by security subscription growth. Operating margin expanded significantly to 31.2% from 22.7% last year due to improved gross margins and operating leverage.The company completed two strategic acquisitions during the quarter - Lacework for $152.3 million and Next DLP for $105 million, strengthening its cloud security and data loss prevention capabilities. A gain on bargain purchase of $106.3 million was recorded related to the Lacework acquisition. Gross margin improved 6.3 percentage points to 82.5% due to reduced costs and favorable revenue mix.Looking ahead, Fortinet expects service revenue growth to continue but at a more moderate pace due to slowing deferred revenue growth. The company maintained strong cash generation with operating cash flow of $608.1 million. As of September 30, 2024, Fortinet had $3.70 billion in cash and investments, with $1.03 billion remaining under its share repurchase authorization.
飛塔信息發佈了強勁的2024年第三季度財務業績，總營業收入同比增長13%，達到15.1億。產品營業收入增長2%，達到47390萬，而服務營業收入因安防訂閱增長而上升19%，達到10.3億。營業利潤率顯著擴大，從去年的22.7%提升至31.2%，得益於毛利率的改善和營業槓桿的提升。公司在季度內完成了兩項戰略收購——以15230萬收購Lacework，以及以10500萬收購Next DLP，增強了其雲安全和數據丟失防護能力。與Lacework收購相關的折扣購買收益爲10630萬。毛利率改善了6.3個百分點，達到82.5%，這得益於成本降低和有利的收入組合。展望未來，飛塔信息預計服務營業收入的增長將繼續，但增速將較爲溫和，因爲遞延收入增長放緩。公司維持強勁的現金生成，營業現金流爲60810萬。截至2024年9月30日，飛塔信息擁有37億的現金和投資，其中103億在其股票回購授權下剩餘。
飛塔信息發佈了強勁的2024年第三季度財務業績，總營業收入同比增長13%，達到15.1億。產品營業收入增長2%，達到47390萬，而服務營業收入因安防訂閱增長而上升19%，達到10.3億。營業利潤率顯著擴大，從去年的22.7%提升至31.2%，得益於毛利率的改善和營業槓桿的提升。公司在季度內完成了兩項戰略收購——以15230萬收購Lacework，以及以10500萬收購Next DLP，增強了其雲安全和數據丟失防護能力。與Lacework收購相關的折扣購買收益爲10630萬。毛利率改善了6.3個百分點，達到82.5%，這得益於成本降低和有利的收入組合。展望未來，飛塔信息預計服務營業收入的增長將繼續，但增速將較爲溫和，因爲遞延收入增長放緩。公司維持強勁的現金生成，營業現金流爲60810萬。截至2024年9月30日，飛塔信息擁有37億的現金和投資，其中103億在其股票回購授權下剩餘。
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