Fortinet, Inc.
FTNTQ1 2025(FTNT Q4 FY2024)Estimated5% AI
AI Revenue %
5%
AI Fair Value
$1.6B
AI Revenue (Q)
$194.5M
Total Revenue (Q)
$3.9B
Source: SEC EDGAR 10-K Filing
View 10-K on SEC.govAnalysis
Fortinet FY2024 10-K. This is the first filing to explicitly use 'artificial intelligence (AI)-driven security operations (SecOps)' in the business description, positioning AI as one of three core platform pillars alongside secure networking and unified SASE. The company describes FortiOS as recognized across five Gartner Magic Quadrants. The 10-K mentions FortiASIC as providing 'speed, scale, efficiency and value' but does not quantify any AI-specific revenue. Revenue remains Product + Service only, single segment. FY2024 annual revenue of ~$5.76B. The formal adoption of 'AI-driven SecOps' branding and Lacework integration justify a 5.0% estimate. ~$288M estimated annual AI revenue, or ~$72M/quarter.
Analyzed by claude-opus-4-6
Quoted Figures
Our integrated platform, the Fortinet Security Fabric, spans secure networking, unified Secure Access Service Edge (SASE) and artificial intelligence (AI)-driven security operations (SecOps)
10-K Item 1, Business Overview
FortiOS has been recognized across five Gartner Magic Quadrants, including Firewall, Software-Defined Wide-Area Network (SD-WAN), Security Service Edge (SSE), SASE Platforms and Wired and Wireless Local Area Network (LAN)
10-K Item 1, FortiOS
As of December 31, 2024, we held 1,034 U.S. patents and 1,378 global patents
10-K Item 1, Research and Development
AI Products Identified (Ring 1)
FortiGuard AI-enhanced threat detectionFortiAI GenAI assistantAI-driven SecOps (FortiAnalyzer, FortiSIEM, FortiSOAR, FortiNDR)Lacework AI-powered cloud security
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 appliancesSASE offeringsFortiOS Security Fabric
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix