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Fortinet Reports First Quarter 2022 Financial Results
Fortinet News, May 4th, 2022
May 4, 2022,
Volume 290, Issue 1

Product revenue of $371.0 million, up 54% year over year

Fortinet, a global leader in broad, integrated and automated cybersecurity solutions, today announced financial results for the first quarter ended March 31, 2022.

'We delivered better than expected first quarter revenue growth of 34% year over year, driven by record quarterly product revenue growth of 54% year over year. The outstanding results we achieved reflect exceptionally strong demand across our broad portfolio of cybersecurity and networking solutions as our teams skillfully navigated the challenging supply chain environment. At the same time, we improved visibility to our future business by increasing backlog by $116 million in the first quarter,' said Ken Xie, Founder, Chairman, and Chief Executive Officer.

'Fortinet's industry leading operating system, FortiASIC SPU, and core platform innovations are geared towards making our customers' entire infrastructure more secure. We have prioritized providing integrated security products on a single operating system and converging networking functionality with security capabilities.'

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