8-K/AEarnings & ResultsExhibits & Filings

Fortinet, Inc. 8-K/A Report, Financial Results (Aug 7, 2024)

Filed August 7, 2024For Securities:FTNT

Summary

This 8-K/A filing from Fortinet, Inc. (FTNT) serves to correct a clerical error in the previously issued press release regarding its financial results and guidance. Specifically, the amendment rectifies the diluted non-GAAP net income per share guidance for the third quarter of 2024 and the full fiscal year 2024. Investors should note that this filing is an amendment to correct guidance, not a release of new financial results. The corrected guidance now indicates an expected diluted non-GAAP net income per share of $0.50 to $0.52 for Q3 2024 and $2.00 to $2.04 for the full fiscal year 2024. The company reiterates that its non-GAAP guidance excludes certain items like stock-based compensation and amortization of acquired intangibles, and a reconciliation to GAAP is not provided due to the unpredictable nature of these excluded items.

Key Highlights

  • 1Amendment to correct a clerical error in previously issued Q2 2024 earnings release guidance.
  • 2Corrected Q3 2024 diluted non-GAAP net income per share guidance: $0.50 to $0.52.
  • 3Corrected FY 2024 diluted non-GAAP net income per share guidance: $2.00 to $2.04.
  • 4No other changes were made to the original August 6, 2024 press release.
  • 5Non-GAAP guidance excludes stock-based compensation, amortization of acquired intangibles, and other items.
  • 6Reconciliation of non-GAAP to GAAP guidance is not provided due to reasonable uncertainty of excluded items.

Frequently Asked Questions

The primary purpose of this 8-K/A filing is to amend a previous 8-K filing to correct a clerical error in the diluted non-GAAP net income per share guidance provided for the third quarter and full fiscal year 2024.

Fortinet's corrected guidance for diluted non-GAAP net income per share is $0.50 to $0.52 for the third quarter of 2024 and $2.00 to $2.04 for the fiscal year 2024.

No, this filing is solely an amendment to correct previously issued guidance. It does not contain new or updated financial results for the second quarter of 2024.

Fortinet states that it does not provide a reconciliation of its non-GAAP financial measures to the corresponding GAAP measures because certain items that impact these measures, such as stock-based compensation and amortization of acquired intangible assets, are uncertain or out of its control and cannot be reasonably predicted without undue effort.