Fortinet expects to benefit from network and security convergence and product consolidation trends despite headwinds from macroeconomic conditions and supply chain disruptions.

“The convergence and consolidation will benefit Fortinet multiple years going forward,” Fortinet founder and CEO Ken Xie said during the company’s latest earnings call. “It's a more long-term growth driver for us.”

Fortinet has more than 30 product lines built mostly by its engineering and development teams, along with a security fabric mesh platform that “delivers unparalleled protection with broad, integrated, and automated protection across multiple edges, from the endpoint, to the data center, and hybrid-cloud environments,” he said, adding that those offerings will help Fortinet ride the trends.

The vendor also continues to benefit from network and security convergence trends as its SD-WAN and operational technology security services bookings grew more than 60% and 75%, respectively, for the quarter.  

Fortinet aims to secure the whole infrastructure beyond the network to endpoint, cloud, applications, email, and web altogether, Xie added. 

The company reported $1.03 billion in second-quarter revenues, marking its first $1 billion quarterly revenue milestone, CFO Keith Jensen said.

Fortinet also increased its billings forecast for the full year to between $5.56 billion to $5.64 billion, compared to its previous forecast of between $5.5 billion and $5.58 billion. However, it lowered its service revenue forecast from between $2.64 billion and $2.7 billion down to between $2.62 billion and $2.67 billion.

“There's a fair amount of uncertainty as we look out beyond the third quarter to the fourth quarter in terms of directions the economies may go, what inflation may do, and a little bit of supply chain,” Jensen said. But “pipeline growth is extremely strong.”

Fortinet also introduced its latest compact firewall for hyperscale data centers and 5G networks. 

“Powered by Fortinet’s NP7 SPU, the [FortiGate] 4800F delivers Security Compute Ratings of on average five- to 10-times better performance than competitive solutions, across the six most common and important functions," Xie claimed. 

Fortinet introduced its most recent ASIC chip — the NP7 security processing unit in 2020, and released nine core-platform products based on it, including the new FortiGate 4800F series with more midrange and high-end products coming for the next few quarters, Jensen said. 

John Maddison, EVP of products and CMO at Fortinet, touted in a statement that the new firewall supports 2.4 Tb/s of capacity and includes ports for 50-gigabit Ethernet (GbE), 200 GbE, and 400 GbE, "which allows hyperscale customers and mobile network operators to seamlessly scale their business without disrupting operations."