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Fortinet, Inc. is a global leader in cybersecurity, offering integrated and automated solutions that provide broad visibility and segmentation of the digital attack surface. The company's primary platform, the Fortinet Security Fabric, delivers automated protection, detection, and response capabilities, catering to a diverse range of customers including large enterprises, communication service providers, government organizations, and small to medium-sized enterprises . Fortinet generates revenue from product sales, primarily through secure networking product lines, and service offerings, which include security subscriptions and technical support .
- Service Offerings - Includes security subscriptions and technical support, driving significant growth through the strength of security subscription services.
- Secure Networking Solutions - Provides high-performance physical and virtual machine appliances designed to secure network infrastructures.
- Unified SASE - Offers a comprehensive approach to secure access service edge, integrating networking and security functions.
- SecOps Technologies - Delivers solutions for security operations, enhancing detection and response capabilities.
- Cloud Security Solutions - Offers protection for cloud environments, ensuring secure cloud adoption and management.
- Professional Services and Training - Provides expert consulting and training services to enhance cybersecurity strategies and skills.
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The growth in OT billings was 19% this quarter; given the competitive landscape in OT security, how sustainable is this growth, and what strategies are you implementing to maintain or increase it?
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With mid-range and high-end hardware appliance shipments remaining stable but not showing significant growth, how do you plan to drive growth in these segments, and are you facing any challenges such as market saturation or increased competition?
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As larger vendors focus on discounting, bundling, and vendor financing, how is Fortinet addressing potential pricing pressures, and what impact do you expect this to have on your margins and revenue growth?
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Considering that some customers are hesitant to commit to multi-year deals without financing, what steps are you taking to provide financing solutions, and how might this affect your ability to secure longer-term contracts and predict revenue?
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You aim to become the #1 leader in SASE in the next few years; what challenges do you anticipate in displacing established competitors, and how will you differentiate your Sovereign SASE offerings to capture highly regulated vertical markets?
Competitors mentioned in the company's latest 10K filing.
- Aruba Networks, Inc. ("Aruba")
- Check Point Software Technologies Ltd. ("Check Point")
- Cisco Systems, Inc. ("Cisco")
- CrowdStrike Holdings, Inc. ("CrowdStrike")
- F5 Networks, Inc. ("F5 Networks")
- Huawei Technologies Co., Ltd. ("Huawei")
- Juniper Networks, Inc. ("Juniper")
- Palo Alto Networks, Inc. ("Palo Alto Networks")
- SonicWALL, Inc. ("SonicWALL")
- Sophos Group Plc ("Sophos")
- VMware, Inc. ("VMware")
- Zscaler, Inc. ("Zscaler")