Key Takeaways Fortinet posted Q2 revenues of $1.63B and EPS of 64 cents, beating estimates and rising y/y.Revenue gains were fueled by 18% EMEA growth and over 20% combined growth in SASE and SecOps billings.Gross margin hit 81.6%, while service billings saw their strongest growth in six quarters, up 17%.Fortinet Inc. (FTNT) reported strong second-quarter 2025 results, wherein both earnings and revenues surpassed the Zacks Consensus Estimate and improved year over year.Fortinet reported second-quarter 2025 ...

Fortinet (FTNT) Q2 2025 Earnings Call August 06, 2025 04:30 PM ET Company ParticipantsAaron Ovadia - Senior Director - IRKen Xie - Founder, Chairman & CEOChristiane Ohlgart - CFOShaul Eyal - Managing Director - Equity ResearchJohn Whittle - COOBrian Essex - Executive DirectorGabriela Borges - MD - Software ResearchSaket Kalia - Managing DirectorConference Call ParticipantsTal Liani - Technology AnalystRob Owens - MD & Senior Research AnalystJunaid Siddiqui - Investment Analyst - SoftwarePatrick Colville - D ...

Fortinet (FTNT) Q2 2025 Earnings Call August 06, 2025 04:30 PM ET Speaker0Hello, and welcome to Fortinet's Second Quarter twenty twenty five Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, we will conduct a question and answer session. Please be advised that this call is being recorded. I would now like to hand the call over to Aaron Ovadia, Senior Director of Investor Relations.Please go ahead.Speaker1Thank you, and good afternoon, every ...

公司业务转型与增长 - 公司向订阅驱动业务转型 服务收入成为增长引擎 2025年第一季度服务收入同比增长14%至10.8亿美元 占总收入70% [1] - 统一SASE战略推动经常性收入达11.5亿美元 同比增长25.7% 安全运维(SecOps)经常性收入增长30.3%至4.345亿美元 [1] - 多年度合同驱动收入增长 包括FortiGuard威胁情报服务 FortiCare FortiCloud等解决方案 基于专有FortiOS平台构建长期收入可见性 [2] 订阅业务扩张策略 - 积极投资SASE和SSE产品线 在大规模企业交易中取得进展 包括政府领域八位数订单(6000用户)和教育科技领域40000用户订单 [3] - 采用可扩展的按用户定价模式 提供多年度折扣锁定未来经常性收入 预计订阅收入将随远程办公趋势加速增长 [4] - 据Seeking Alpha预测 统一SASE和SecOps市场2026年前复合年增长率达24% 公司灵活订阅架构有望受益 [4] 财务表现与预测 - 2025年服务收入模型预测为46亿美元 同比增长13.4% [5] - 2025年每股收益共识预期为2.48美元 过去60天上调1美分 预示4.64%同比增长 [12] 市场竞争格局 - 在企业安全市场面临Palo Alto Networks和Zscaler激烈竞争 [6] - Palo Alto Networks通过集成防火墙 Web网关等服务保障企业安全 2025财年下一代安全平台经常性收入预计55.2-55.7亿美元 [7] - Zscaler拥有8650家机构客户 通过与VMware等合作拓展SD-WAN部署 SD-WAN市场预计2034年前以31.6%复合增长率增至809亿美元 [8] 股价与估值 - 年内股价上涨13.9% 低于安全行业27.1%涨幅 但超过计算机与技术板块8.1%回报率 [9] - 当前市净率41.98倍 显著高于行业平均25.76倍 价值评分F级 [14]