Fortinet Non-GAAP EPS of $0.44 beats by $0.05, revenue of $1.28B misses by $20M
Fortinet press release (NASDAQ:FTNT): Q4 Non-GAAP EPS of $0.44  beats by $0.05.
Revenue of $1.28B (+32.8% Y/Y)  misses by $20M.
Guidance
For the first quarter of 2023, Fortinet currently expects:
Revenue in the range of $1.180 billion to $1.220 billion vs $1.18B consensus
Billings in the range of $1.415 billion to $1.465 billion
Non-GAAP gross margin in the range of 75.0% to 76.0%
Non-GAAP operating margin in the range of 23.0% to 24.0%
Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $0.27 to $0.29 vs $0.28 Consensus, assuming a non-GAAP effective tax rate of 17%. This assumes a diluted share count of 795 million to 805 million.
For the fiscal year 2023, Fortinet currently expects:
Revenue in the range of $5.370 billion to $5.430 billion vs $5.35B consensus
Service revenue in the range of $3.335 billion to $3.365 billion
Billings in the range of $6.710 billion to $6.790 billion
Non-GAAP gross margin in the range of 75.0% to 76.0%
Non-GAAP operating margin in the range of 25.0% to 26.0%
Diluted non-GAAP net income per share attributable to Fortinet, Inc. in the range of $1.39 to $1.41 vs $1.39 Consensus, assuming a non-GAAP effective tax rate of 17%. This assumes a diluted share count of 805 million to 815 million.