FTNT

Fortinet

Information Technology

Systems Software

Sunnyvale, California

Balance Sheet 30 Accounts • 5 Years

Account	2024	2023	2022	2021	2020
end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Assets - CashAndCashEquivalents	$2.9B	$1.4B	$1.7B	$1.3B	$1.1B
Assets - ShortTermInvestments	$1.1B	$1.0B	$548.1M	$1.6B	$775.5M
Assets - AccountsReceivable	$1.5B	$1.4B	$1.3B	$807.7M	$720.0M
Assets - CapitalizedContractCosts	$622.9M	$605.6M	$518.2M	$423.3M	$304.8M
Assets - PrepaidExpenses	$126.1M	$101.1M	$73.1M	$65.4M	$43.3M
Assets - TotalCurrentAssets	$6.0B	$4.4B	$3.8B	$3.6B	$2.7B
Assets - Property,PlantAndEquipment	$1.3B	$1.0B	$898.5M	$687.6M	$448.0M
Assets - OperatingLeaseAssets	$72.2M	$76.0M	$96.3M	$65.1M	$49.3M
Assets - Goodwill	$235.4M	$126.5M	$128.0M	$125.1M	$93.0M
Assets - IntangibleAssets	$115.0M	$35.3M	$56.0M	$63.6M	$31.6M
Assets - OtherNoncurrentAssets	$133.2M	$150.0M	$202.0M	$235.8M	$63.2M
Assets - TotalAssets	$9.8B	$7.3B	$6.2B	$5.9B	$4.0B
Liabilities - AccountsPayable	$190.9M	$204.3M	$243.4M	$148.4M	$141.6M
Liabilities - AccruedLiabilities	$337.9M	$423.7M	$266.3M	$197.3M	$149.2M
Liabilities - ContractLiabilities	$71.8M	$2.8B	$2.3B	$1.8B	$1.4B
Liabilities - OperatingLeaseLiabilities	$32.7M	$33.4M	$33.2M	$26.3M	$19.1M
Liabilities - TotalCurrentLiabilities	$4.1B	$3.7B	$3.1B	$2.3B	$1.8B
Liabilities - LongTermDebt	$994.3M	$992.3M	$990.4M	$988.4M	$0
Liabilities - OperatingLeaseLiabilitiesNoncurrent	$46.4M	$45.7M	$62.5M	$40.5M	$34.0M
Liabilities - DeferredTaxLiabilities	$170.6M	$157.3M	$147.2M	$125.0M	$90.5M
Liabilities - OtherNoncurrentLiabilities	$129.6M	$124.7M	$149.8M	$59.2M	$56.2M
Liabilities - TotalLiabilities	$8.3B	$7.7B	$6.5B	$5.1B	$3.2B
Equity - CommonStock	$3.0B	$3.0B	$3.1B	$3.1B	$625.0M
Equity - RetainedEarnings	$-117.1M	$-1.9B	$-1.5B	$-467.9M	$-352.1M
Equity - AccumulatedOtherComprehensiveIncome	$-26.1M	$-18.9M	$-20.2M	$-4.8M	$700.0K
Equity - TotalStockholdersEquity	$1.5B	$-463.4M	$-281.6M	$781.7M	$856.0M
Equity - TotalLiabilitiesAndStockholdersEquity	$9.8B	$7.3B	$6.2B	$5.9B	$4.0B
Equity - TotalLiabilitiesandEquity	$9.8B	$7.3B	$6.2B	$5.9B	$4.0B
Validation - L+E Components Sum Difference	$0	$0	$0	$0	$0

Income Statement 26 Accounts • 5 Years

Account	2024	2023	2022	2021	2020
end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
IncomeStatement - Revenues - TotalRevenue	$6.0B	$5.3B	$4.4B	$3.3B	$2.6B
IncomeStatement - Expenses - CostOfRevenue	$1.2B	$1.2B	$1.1B	$783.0M	$570.0M
IncomeStatement - Expenses - ResearchAndDevelopment	$716.8M	$613.8M	$512.4M	$424.2M	$341.4M
IncomeStatement - Expenses - SalesAndMarketing	$2.0B	$2.0B	$1.7B	$1.3B	$1.1B
IncomeStatement - Expenses - GeneralAndAdministrative	$237.8M	$211.3M	$169.0M	$143.5M	$119.5M
IncomeStatement - Expenses - AmortizationOfIntangibleAssets	$23.1M	$18.9M	$23.3M	$18.5M	$13.3M
IncomeStatement - Expenses - DepreciationAndAmortization	$122.8M	$113.4M	$104.3M	$84.4M	$68.8M
IncomeStatement - Expenses - ShareBasedCompensation	$257.9M	$249.0M	$217.3M	$207.9M	$191.7M
IncomeStatement - Expenses - TotalOperatingExpenses	$3.0B	$2.8B	$2.4B	$1.9B	$1.5B
IncomeStatement - OtherIncomeExpense - GrossProfit	$4.8B	$4.1B	$3.3B	$2.6B	$2.0B
IncomeStatement - OtherIncomeExpense - OperatingIncome	$1.8B	$1.2B	$969.6M	$650.4M	$531.8M
IncomeStatement - OtherIncomeExpense - InterestIncome	$155.2M	$119.7M	$17.4M	$4.5M	$17.7M
IncomeStatement - OtherIncomeExpense - InterestExpense	$20.0M	$21.0M	$18.0M	$14.9M	$0
IncomeStatement - OtherIncomeExpense - ForeignCurrencyTransactionGain/loss	$16.9M	$-7.0M	$-4.6M	$-8.2M	$-5.5M
IncomeStatement - OtherIncomeExpense - Gain/lossOnInvestments	$26.4M	$-4.4M	$-13.1M	$-5.1M	—
IncomeStatement - OtherIncomeExpense - OtherIncome/expense	$13.6M	$-6.1M	$-13.5M	$-11.6M	$-7.8M
IncomeStatement - OtherIncomeExpense - IncomeBeforeTax	$2.1B	$1.3B	$955.5M	$628.4M	$541.7M
IncomeStatement - IncomeTax - IncomeTaxExpense	$283.9M	$143.8M	$30.8M	$14.1M	$53.2M
IncomeStatement - IncomeTax - EffectiveTaxRate	$29.8M	$27.0M	$15.7M	$2.9M	$16.4M
IncomeStatement - NetIncome - NetIncome	$1.7B	$1.1B	$857.3M	$606.8M	$488.5M
IncomeStatement - NetIncome - ComprehensiveIncome	$1.7B	$1.1B	$841.9M	$601.3M	$488.1M
IncomeStatement - EarningsPerShare - BasicEps	$2	$1	$1	$1	$1
IncomeStatement - EarningsPerShare - DilutedEps	$2	$1	$1	$1	$1
IncomeStatement - EarningsPerShare - WeightedAverageSharesBasic	$764.4M	$778.6M	$791.4M	$816.1M	$821.0M
IncomeStatement - EarningsPerShare - WeightedAverageSharesDiluted	$771.9M	$788.2M	$805.3M	$835.3M	$838.3M

Cash Flow Statement 22 Accounts • 5 Years

Account	2024	2023	2022	2021	2020
end	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
CashFlow - OperatingActivities - NetIncome	$1.7B	$1.1B	$857.3M	$606.8M	$488.5M
CashFlow - OperatingActivities - DepreciationAndAmortization	$122.8M	$113.4M	$104.3M	$84.4M	$68.8M
CashFlow - OperatingActivities - ShareBasedCompensation	$257.9M	$249.0M	$217.3M	$207.9M	$191.7M
CashFlow - OperatingActivities - AmortizationOfContractCosts	$293.7M	$266.3M	$223.3M	$175.9M	$137.4M
CashFlow - OperatingActivities - DeferredIncomeTaxes	$-222.9M	$-306.7M	$-225.6M	$-92.4M	$-7.1M
CashFlow - OperatingActivities - ForeignCurrencyEffects	$16.9M	$-7.0M	$-4.6M	$-8.2M	$-5.5M
CashFlow - OperatingActivities - ChangesInOperatingAssetsAndLiabilities	$629.4M	$1.2B	$1.8B	$978.8M	$769.6M
CashFlow - OperatingActivities - NetCashFromOperatingActivities	$2.3B	$1.9B	$1.7B	$1.5B	$1.1B
CashFlow - InvestingActivities - BusinessAcquisitions	$275.5M	$0	$30.8M	$74.9M	$40.2M
CashFlow - InvestingActivities - ProceedsFromSaleOfInvestments	$1.9B	$1.4B	$1.5B	$1.5B	$1.0B
CashFlow - InvestingActivities - NetCashFromInvestingActivities	$-727.4M	$-649.3M	$763.9M	$-1.3B	$-72.8M
CashFlow - FinancingActivities - ProceedsFromStockIssuance	$63.1M	$43.8M	$26.1M	$26.0M	$22.1M
CashFlow - FinancingActivities - RepurchaseOfCommonStock	$600.0K	$1.5B	$2.0B	$741.8M	$1.1B
CashFlow - FinancingActivities - TaxWithholdingOnStockBasedCompensation	$100.9M	$112.5M	$160.4M	$167.9M	$108.2M
CashFlow - FinancingActivities - NetCashFromFinancingActivities	$-50.1M	$-1.6B	$-2.1B	$82.8M	$-1.2B
CashFlow - CashReconciliation - EffectOfExchangeRateChanges	$-2.6M	$-800.0K	$-400.0K	$-100.0K	$0
CashFlow - CashReconciliation - NetChangeInCash	$1.5B	$-285.0M	$363.8M	$257.3M	$-160.7M
CashFlow - CashReconciliation - CashAtBeginningOfPeriod	$2.9B	$1.4B	$1.7B	$1.3B	$1.1B
CashFlow - CashReconciliation - CashAtEndOfPeriod	$2.9B	$1.4B	$1.7B	$1.3B	$1.1B
CashFlow - SupplementalDisclosures - IncomeTaxesPaid	$578.9M	$426.3M	$260.2M	$127.4M	$39.7M
CashFlow - SupplementalDisclosures - RightOfUseAssetsObtainedForLeases	$39.3M	$19.2M	$65.8M	$39.6M	$22.8M

Fortinet

Balance Sheet 30 Accounts • 5 Years

Income Statement 26 Accounts • 5 Years

Cash Flow Statement 22 Accounts • 5 Years

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