Fortinet Inc

**Strong Financial Performance**: Fortinet reported total revenue growth of 13% year-over-year (YOY) for Q3 2024, reaching $1.508 billion, largely driven by a 19% increase in service revenue and a return to product revenue growth of 2%. The company achieved record gross margins (83.2%) and operating margins (36.1%), exceeding guidance ranges significantly.

**Growth in Strategic Areas**: Unified SASE billings grew by 14% and secure operations billings saw a robust 32% increase. The overall organic Annual Recurring Revenue (ARR) growth rate reached 74%, driven by core solutions including FortiEDR and FortiNDR, showcasing Fortinet's effective consolidation strategy among its customer base.

**Positive Outlook for Q4 and Full Year**: Guidance for Q4 2024 anticipates billings between $1.9 billion and $1.96 billion (5% growth), with revenue expected to be between $1.56 billion and $1.62 billion (12% growth). For the full year, billings are projected between $6.43 billion and $6.53 billion, with total revenue guidance of $5.856 billion to $5.916 billion (11% growth), reflecting strong growth prospects.