Fortinet (NasdaqGS:FTNT) Advances OT Security Platform With New Capabilities For Critical Infrastructure

Simply Wall St · 5d ago

Fortinet (NasdaqGS:FTNT) recently advanced its OT Security Platform, enhancing protection for critical infrastructure against evolving cyber threats. This expansion, coupled with Fortinet's collaboration with Honeywell, aligned with efforts to fortify cybersecurity capabilities, which may have positively influenced the share price, contributing to its 0.24% increase over the past quarter. The company’s recent earnings report showed strong financial performance, with notable revenue and net income growth. Fortinet also announced that Christiane Ohlgart would succeed Keith Jensen as CFO, suggesting continuity in leadership. Meanwhile, broader market conditions reflected a tech sector rebound following an encouraging Consumer Price Index report, with the Nasdaq Composite rising 1.5%, which may have helped sustain Fortinet's stock performance. Recent market volatility due to economic and policy uncertainties posed challenges, but the company’s strategic developments in cybersecurity potentially offered resilience amidst broader market softness, which saw a 3.7% drop over the week with 6.9% annual growth.

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NasdaqGS:FTNT Revenue & Expenses Breakdown as at Mar 2025
NasdaqGS:FTNT Revenue & Expenses Breakdown as at Mar 2025

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Over the past five years, Fortinet has delivered an exceptional total return for shareholders, reaching a value well over 500%. This impressive performance spans a period of robust financial growth and strategic moves. One significant factor was Fortinet's continuous enhancement of its technology, including the launch of several cybersecurity innovations like the FortiAnalyzer and FortiGate G series, aimed at improving operational efficiency and threat management. Furthermore, the partnership with Honeywell in March 2025 substantially bolstered its cybersecurity suite for operational technology environments, further strengthening its market position.

In February 2025, Fortinet announced substantial earnings growth, with Q4 2024 revenue increasing to approximately US$1.66 billion and net income reaching US$526.2 million. Strong earnings growth, exceeding both the software industry and market averages, has underscored the company's resilient financial performance. Moreover, the extensive share repurchase program, cumulatively involving around 89.18 million shares, highlighted Fortinet's dedication to returning value to shareholders. These elements collectively illustrate the company's sustained growth and shareholder returns.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.