# FORTINET, INC. (FTNT) FY2024 Annual P&L / Income Statement

- Company: FORTINET, INC. (FTNT)
- Period: 2024-01-01 to 2024-12-31
- Filing: FY2024 10-K, filed 2025-02-21, accession number 0001262039-25-000011
- Page: https://plicit.ai/financials/ftnt/fy2024-annual-income-statement
- Chart image: https://plicit.ai/charts/ftnt-fy2024-annual-income-statement-sankey.png

## Chart details: Revenue by Product and Service (3 categories)

Income statement for 2024-01-01 through 2024-12-31. View: Product and service (3 categories). Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenue**: 5,955,800,000 US dollars
- **Total cost of revenue**: 1,157,600,000 US dollars
- **Total gross profit**: 4,798,200,000 US dollars
- **Total operating expenses**: 2,994,800,000 US dollars
- **OPERATING INCOME**: 1,803,400,000 US dollars
- **Other income (expense), net (calculated)**: 255,100,000 US dollars
- **INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENTS**: 2,058,500,000 US dollars
- **PROVISION FOR INCOME TAXES**: 283,900,000 US dollars
- **NET INCOME INCLUDING NON-CONTROLLING INTERESTS**: 1,745,200,000 US dollars
- **Product**: 1,908,700,000 US dollars
- **Security subscription**: 2,316,700,000 US dollars
- **Technical support and other**: 1,730,400,000 US dollars
- **Gain on intellectual property matter**: negative 4,600,000 US dollars
- **Research and development**: 716,800,000 US dollars
- **Sales and marketing**: 2,044,800,000 US dollars
- **General and administrative**: 237,800,000 US dollars
- **LOSS FROM EQUITY METHOD INVESTMENTS**: negative 29,400,000 US dollars. Reported below-tax contribution to net income.

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit, plus the explicitly reported below-tax contributions, equals net income.

## Chart details: Revenue by Product and Service (2 categories)

- Page: https://plicit.ai/financials/ftnt/fy2024-annual-income-statement/revenue-by-product-and-service-2-categories
- Chart image: https://plicit.ai/charts/ftnt-fy2024-annual-revenue-by-product-and-service-2-categories-sankey.png

Income statement for 2024-01-01 through 2024-12-31. View: Product and service (2 categories). Revenue and costs use their disclosed categories.

- **Total revenue**: 5,955,800,000 US dollars
- **Total cost of revenue**: 1,157,600,000 US dollars
- **Total gross profit**: 4,798,200,000 US dollars
- **Total operating expenses**: 2,994,800,000 US dollars
- **OPERATING INCOME**: 1,803,400,000 US dollars
- **Other income (expense), net (calculated)**: 255,100,000 US dollars
- **INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENTS**: 2,058,500,000 US dollars
- **PROVISION FOR INCOME TAXES**: 283,900,000 US dollars
- **NET INCOME INCLUDING NON-CONTROLLING INTERESTS**: 1,745,200,000 US dollars
- **Product revenue**: 1,908,700,000 US dollars
- **Service revenue**: 4,047,100,000 US dollars
- **Product cost of revenue**: 652,000,000 US dollars
- **Service cost of revenue**: 505,600,000 US dollars
- **Gain on intellectual property matter**: negative 4,600,000 US dollars
- **Research and development**: 716,800,000 US dollars
- **Sales and marketing**: 2,044,800,000 US dollars
- **General and administrative**: 237,800,000 US dollars
- **LOSS FROM EQUITY METHOD INVESTMENTS**: negative 29,400,000 US dollars. Reported below-tax contribution to net income.

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit, plus the explicitly reported below-tax contributions, equals net income.

## Chart details: Revenue by Geography

- Page: https://plicit.ai/financials/ftnt/fy2024-annual-income-statement/revenue-by-geography
- Chart image: https://plicit.ai/charts/ftnt-fy2024-annual-revenue-by-geography-sankey.png

Income statement for 2024-01-01 through 2024-12-31. View: Geography. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Total revenue**: 5,955,800,000 US dollars
- **Total cost of revenue**: 1,157,600,000 US dollars
- **Total gross profit**: 4,798,200,000 US dollars
- **Total operating expenses**: 2,994,800,000 US dollars
- **OPERATING INCOME**: 1,803,400,000 US dollars
- **Other income (expense), net (calculated)**: 255,100,000 US dollars
- **INCOME BEFORE INCOME TAXES AND LOSS FROM EQUITY METHOD INVESTMENTS**: 2,058,500,000 US dollars
- **PROVISION FOR INCOME TAXES**: 283,900,000 US dollars
- **NET INCOME INCLUDING NON-CONTROLLING INTERESTS**: 1,745,200,000 US dollars
- **UNITED STATES**: 1,778,900,000 US dollars
- **Other Americas**: 663,300,000 US dollars
- **Europe, Middle East and Africa**: 2,396,200,000 US dollars
- **Asia Pacific and Japan**: 1,117,400,000 US dollars
- **Gain on intellectual property matter**: negative 4,600,000 US dollars
- **Research and development**: 716,800,000 US dollars
- **Sales and marketing**: 2,044,800,000 US dollars
- **General and administrative**: 237,800,000 US dollars
- **LOSS FROM EQUITY METHOD INVESTMENTS**: negative 29,400,000 US dollars. Reported below-tax contribution to net income.

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit, plus the explicitly reported below-tax contributions, equals net income.