Fortinet, Inc.
FTNTQ4 2023(FTNT Q3 FY2023)Estimated2.5% AI
AI Revenue %
2.5%
AI Fair Value
$655.1M
AI Revenue (Q)
$33.4M
Total Revenue (Q)
$1.3B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Fortinet Q3 calendar 2023 (mapped as Q3 FY2023). Total revenue $1,334.6M (Product $465.9M + Service $868.7M). No AI-specific language in this filing. Revenue split remains Product vs. Service with no segment detail. The risk factors still reference only 'FortiGuard security subscription and FortiCare technical support services.' Maintaining 2.5% for embedded ML features. $33.4M estimated AI / $1,334.6M total = ~2.5%.
Analyzed by claude-opus-4-6
Quoted Figures
Product revenue $465.9M, Service revenue $868.7M, Total revenue $1,334.6M
10-Q Condensed Consolidated Statements of Income, Q3 2023
We rely significantly on revenue from FortiGuard security subscription and FortiCare technical support services
10-Q Risk Factors
AI Products Identified (Ring 1)
FortiGuard ML-based threat detection (embedded)
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
FortiGuard security subscriptionsFortiCare technical supportFortiGate firewall appliances
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix