Fortinet, Inc
(NASDAQ:FTNT)

Fortinet, Inc. provides broad, integrated, and automated cybersecurity solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers FortiGate hardware and software licenses that provide various security and networking functions, including firewall, intrusion prevention...

Website: http://www.fortinet.com

Founded: 2000

Full Time Employees: 13,618 (Jun 2023)

CEO / Founder: Ken Xie

Sector: Technology

Industry: Software-Infrastructure

Information Technology Cybersecurity

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At a glance:

Bull Thesis:

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Main Competitors:

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Income Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31

revenue:
product	691,100,000	559,300,000	508,900,000	459,100,000	574,000,000	473,900,000	451,900,000	408,900,000	488,100,000	465,900,000	472,600,000	500,700,000	540,100,000	468,700,000	400,700,000	371,000,000	378,900,000	337,100,000	298,300,000	240,700,000	288,400,000	223,800,000	211,900,000	192,300,000	238,800,000	197,100,000	189,900,000	162,700,000	200,800,000	164,500,000	166,300,000	142,800,000	162,118,000	137,095,000	142,705,000	135,253,000	158,925,000	127,972,000	136,641,000	124,572,000	144,759,000	119,737,000	114,777,000	97,509,000	110,678,000	87,731,000	85,384,000	76,765,000	83,884,000	69,687,000	66,525,000	57,950,000	71,025,000	63,027,000	61,692,000	53,204,000	57,463,000	53,093,000	46,687,000	40,165,000			31,037,000	27,110,000
service	1,213,900,000	1,165,600,000	1,121,100,000	1,080,600,000	1,086,100,000	1,034,200,000	982,400,000	944,400,000	927,000,000	868,700,000	820,200,000	761,600,000	742,900,000	680,800,000	629,400,000	583,800,000	584,700,000	530,100,000	502,800,000	469,600,000	459,600,000	427,300,000	403,600,000	384,600,000	375,600,000	350,400,000	331,800,000	309,900,000	306,200,000	289,400,000	275,000,000	256,200,000	254,550,000	237,122,000	220,764,000	205,323,000	203,905,000	188,674,000	174,750,000	160,004,000	151,770,000	140,331,000	125,008,000	115,377,000
total revenue	1,905,000,000	1,724,900,000	1,630,000,000	1,539,700,000	1,660,100,000	1,508,100,000	1,434,300,000	1,353,300,000	1,415,100,000	1,334,600,000	1,292,800,000	1,262,300,000	1,283,000,000	1,149,500,000	1,030,100,000	954,800,000	963,600,000	867,200,000	801,100,000	710,300,000	748,000,000	651,100,000	615,500,000	576,900,000	614,400,000	547,500,000	521,700,000	472,600,000	507,000,000	453,900,000	441,300,000	399,000,000	416,668,000	374,217,000	363,469,000	340,576,000	362,830,000	316,646,000	311,391,000	284,576,000	296,529,000	260,068,000	239,785,000	212,886,000	223,969,000	193,348,000	184,098,000	168,949,000	177,350,000	154,699,000	147,428,000	135,820,000	151,162,000	136,268,000	128,962,000	117,247,000	120,861,000	116,426,000	103,023,000	93,266,000		84,971,000	76,331,000	69,795,000
yoy	14.75%	14.38%	13.64%	13.77%	17.31%	13.00%	10.95%	7.21%	10.30%	16.10%	25.50%	32.21%	33.15%	32.55%	28.59%	34.42%	28.82%	33.19%	30.15%	23.12%	21.74%	18.92%	17.98%	22.07%	21.18%	20.62%	18.22%	18.45%	21.68%	21.29%	21.41%	17.15%	14.84%	18.18%	16.72%	19.68%	22.36%	21.76%	29.86%	33.68%	32.40%	34.51%	30.25%	26.01%	26.29%	24.98%	24.87%	24.39%	17.32%	13.53%	14.32%	15.84%	25.07%	17.04%	25.18%	25.71%		37.02%	34.97%	33.63%
qoq	10.44%	5.82%	5.86%	-7.25%	10.08%	5.15%	5.99%	-4.37%	6.03%	3.23%	2.42%	-1.61%	11.61%	11.59%	7.89%	-0.91%	11.12%	8.25%	12.78%	-5.04%	14.88%	5.78%	6.69%	-6.10%	12.22%	4.95%	10.39%	-6.79%	11.70%	2.86%	10.60%	-4.24%	11.34%	2.96%	6.72%	-6.13%	14.59%	1.69%	9.42%	-4.03%	14.02%	8.46%	12.64%	-4.95%	15.84%	5.02%	8.97%	-4.74%	14.64%	4.93%	8.55%	-10.15%	10.93%	5.67%	9.99%	-2.99%	3.81%	13.01%	10.46%			11.32%	9.36%
cost of revenue:
total cost of revenue	389,200,000	331,700,000	314,900,000	293,100,000	314,500,000	263,400,000	275,000,000	304,700,000	315,900,000	317,700,000	295,800,000	307,800,000	297,300,000	283,000,000	250,800,000	253,800,000	228,300,000	211,200,000	186,900,000	156,600,000	167,000,000	139,200,000	135,100,000	128,700,000	140,500,000	124,100,000	128,300,000	113,000,000	128,500,000	111,600,000	113,100,000	97,200,000	105,419,000	93,649,000	95,652,000	90,564,000	90,891,000	84,799,000	84,503,000	77,749,000	81,976,000	71,701,000	69,498,000	63,602,000	65,624,000	56,885,000	57,757,000	50,743,000	53,877,000	43,930,000	43,708,000	39,128,000	41,442,000	37,808,000	37,127,000	31,043,000	32,485,000	31,139,000	26,558,000	23,416,000			20,165,000	19,375,000
gross profit:
total gross profit	1,515,800,000	1,393,200,000	1,315,100,000	1,246,600,000	1,345,600,000	1,244,700,000	1,159,300,000	1,048,600,000	1,099,200,000	1,016,900,000	997,000,000	954,500,000	985,700,000	866,500,000	779,300,000	701,000,000	735,300,000	656,000,000	614,200,000	553,700,000	581,000,000	511,900,000	480,400,000	448,200,000	473,900,000	423,400,000	393,400,000	359,600,000	378,500,000	342,300,000	328,200,000	301,800,000	311,249,000	280,568,000	267,817,000	250,012,000	271,939,000	231,847,000	226,888,000	206,827,000	214,553,000	188,367,000	170,287,000	149,284,000	158,345,000	136,463,000	126,341,000	118,206,000	123,473,000	110,769,000	103,720,000	96,692,000	109,720,000	98,460,000	91,835,000	86,204,000	88,376,000	85,287,000	76,465,000	69,850,000			56,166,000	50,420,000
yoy	12.65%	11.93%	13.44%	18.88%	22.42%	22.40%	16.28%	9.86%	11.51%	17.36%	27.94%	36.16%	34.05%	32.09%	26.88%	26.60%	26.56%	28.15%	27.85%	23.54%	22.60%	20.90%	22.11%	24.64%	25.20%	23.69%	19.87%	19.15%	21.61%	22.00%	22.55%	20.71%	14.46%	21.01%	18.04%	20.88%	26.75%	23.08%	33.24%	38.55%	35.50%	38.04%	34.78%	26.29%	28.24%	23.20%	21.81%	22.25%	12.53%	12.50%	12.94%	12.17%	24.15%	15.45%	20.10%	23.41%			36.14%	38.54%
qoq	8.80%	5.94%	5.49%	-7.36%	8.11%	7.37%	10.56%	-4.60%	8.09%	2.00%	4.45%	-3.17%	13.76%	11.19%	11.17%	-4.66%	12.09%	6.81%	10.93%	-4.70%	13.50%	6.56%	7.18%	-5.42%	11.93%	7.63%	9.40%	-4.99%	10.58%	4.30%	8.75%	-3.04%	10.94%	4.76%	7.12%	-8.06%	17.29%	2.19%	9.70%	-3.60%	13.90%	10.62%	14.07%	-5.72%	16.04%	8.01%	6.88%	-4.27%	11.47%	6.80%	7.27%	-11.87%	11.44%	7.21%	6.53%	-2.46%	3.62%	11.54%	9.47%				11.40%
gross margin %	79.57%	80.77%	80.68%	80.96%	81.06%	82.53%	80.83%	77.48%	77.68%	76.20%	77.12%	75.62%	76.83%	75.38%	75.65%	73.42%	76.31%	75.65%	76.67%	77.95%	77.67%	78.62%	78.05%	77.69%	77.13%	77.33%	75.41%	76.09%	74.65%	75.41%	74.37%	75.64%	74.70%	74.97%	73.68%	73.41%	74.95%	73.22%	72.86%	72.68%	72.35%	72.43%	71.02%	70.12%	70.70%	70.58%	68.63%	69.97%	69.62%	71.60%	70.35%	71.19%	72.58%	72.25%	71.21%	73.52%	73.12%	73.25%	74.22%	74.89%	NaN%	0%	73.58%	72.24%
operating expenses:
research and development	205,000,000	202,400,000	209,500,000	198,600,000	191,100,000	187,300,000	165,400,000	173,000,000	152,500,000	156,900,000	153,300,000	151,100,000	128,900,000	134,300,000	124,300,000	124,900,000	112,600,000	107,800,000	106,600,000	97,200,000	89,000,000	90,000,000	82,100,000	80,300,000	71,200,000	69,900,000	67,400,000	68,600,000	65,500,000	58,700,000	61,200,000	59,100,000	54,774,000	53,486,000	51,159,000	51,195,000	45,589,000	47,239,000	45,502,000	44,966,000	42,814,000	42,110,000	37,389,000	35,816,000	33,097,000	30,790,000	29,938,000	29,055,000	27,747,000	26,421,000	25,158,000	23,334,000	20,525,000	20,498,000	20,388,000	19,667,000	16,380,000	16,834,000	15,942,000	14,421,000		600,000	12,676,000	11,934,000
sales and marketing	629,300,000	583,500,000	592,000,000	542,700,000	526,500,000	515,900,000	501,300,000	501,100,000	507,400,000	504,400,000	515,900,000	478,300,000	455,900,000	427,100,000	415,500,000	387,600,000	367,700,000	347,100,000	326,900,000	304,000,000	291,400,000	266,700,000	253,800,000	260,000,000	257,100,000	227,400,000	226,500,000	215,900,000	205,900,000	198,300,000	192,800,000	185,300,000	191,928,000	172,361,000	166,337,000	170,400,000	162,873,000	154,831,000	162,694,000	147,403,000	136,840,000	120,994,000	111,928,000	100,609,000	93,228,000	80,433,000	74,817,000	67,326,000	62,331,000	56,687,000	55,997,000	49,976,000	48,117,000	44,743,000	44,259,000	42,036,000	39,984,000	36,934,000	35,896,000	32,718,000		1,017,000	27,777,000	26,723,000
general and administrative	57,300,000	61,400,000	56,900,000	57,800,000	55,100,000	71,700,000	56,600,000	54,400,000	55,100,000	53,500,000	49,900,000	52,800,000	44,300,000	40,700,000	45,400,000	38,600,000	41,300,000	35,800,000	34,400,000	32,000,000	32,400,000	29,400,000	28,900,000	28,800,000	27,200,000	26,100,000	24,300,000	24,500,000	22,000,000	22,500,000	23,500,000	25,000,000	22,349,000	21,025,000	21,911,000	22,577,000	17,451,000	22,006,000	22,184,000	19,802,000	20,315,000	21,220,000	18,018,000	11,961,000	12,104,000	9,789,000	10,444,000	9,010,000	8,752,000	9,382,000	8,788,000	7,991,000	6,038,000	7,449,000	6,238,000	5,786,000	5,492,000	5,359,000	5,848,000	5,266,000		549,000	5,933,000	5,059,000
gain on intellectual property matters	-1,400,000	-1,400,000	-1,300,000	-6,300,000
total operating expenses	890,200,000	845,900,000	857,100,000	792,800,000	771,500,000	773,800,000	722,100,000	727,400,000	713,800,000	713,700,000	718,000,000	681,000,000	627,900,000	601,000,000	584,000,000	550,000,000	520,400,000	489,600,000	466,700,000	432,100,000	411,600,000	385,000,000	363,700,000	332,300,000	355,500,000	323,400,000	318,200,000	309,000,000	293,400,000	279,500,000	277,500,000	269,400,000	269,051,000	246,872,000	239,317,000	244,602,000	226,746,000	226,359,000	230,933,000	212,499,000	201,686,000	190,207,000	167,335,000	148,386,000	138,429,000	121,012,000	115,199,000	105,391,000	98,830,000	92,490,000	89,943,000	81,301,000	74,680,000	72,690,000	70,885,000	67,489,000	61,856,000	59,127,000	57,686,000	52,405,000			46,386,000	43,716,000
operating income	625,600,000	547,300,000	458,000,000	453,800,000	574,100,000	470,900,000	437,200,000	321,200,000	385,400,000	303,200,000	279,000,000	273,500,000	357,800,000	265,500,000	195,300,000	151,000,000	214,900,000	166,400,000	147,500,000	121,600,000	169,400,000	126,900,000	116,700,000	115,900,000	118,400,000	100,000,000	75,200,000	50,600,000	85,100,000	62,800,000	50,700,000	32,400,000	42,198,000	33,696,000	28,500,000	5,410,000	45,193,000	5,488,000	-4,045,000	-5,672,000	12,867,000	-1,840,000	2,952,000	898,000	19,916,000	15,451,000	11,142,000	12,815,000	24,643,000	18,279,000	13,777,000	15,391,000	35,040,000	25,770,000	20,950,000	18,715,000	26,520,000	26,160,000	18,779,000	17,445,000			9,780,000	6,704,000
yoy	8.97%	16.22%	4.76%	41.28%	48.96%	55.31%	56.70%	17.44%	7.71%	14.20%	42.86%	81.13%	66.50%	59.56%	32.41%	24.18%	26.86%	31.13%	26.39%	4.92%	43.07%	26.90%	55.19%	129.05%	39.13%	59.24%	48.32%	56.17%	101.67%	86.37%	77.89%	498.89%	-6.63%	513.99%	-804.57%	-195.38%	251.23%	-398.26%	-237.03%	-731.63%	-35.39%	-111.91%	-73.51%	-92.99%	-19.18%	-15.47%	-19.13%	-16.74%	-29.67%	-29.07%	-34.24%	-17.76%	32.13%	-1.49%	11.56%	7.28%			92.01%	160.22%
qoq	14.31%	19.50%	0.93%	-20.95%	21.92%	7.71%	36.11%	-16.66%	27.11%	8.67%	2.01%	-23.56%	34.76%	35.94%	29.34%	-29.73%	29.15%	12.81%	21.30%	-28.22%	33.49%	8.74%	0.69%	-2.11%	18.40%	32.98%	48.62%	-40.54%	35.51%	23.87%	56.48%	-23.22%	25.23%	18.23%	426.80%	-88.03%	723.49%	-235.67%	-28.68%	-144.08%	-799.29%	-162.33%	228.73%	-95.49%	28.90%	38.67%	-13.06%	-48.00%	34.82%	32.68%	-10.49%	-56.08%	35.97%	23.01%	11.94%	-29.43%	1.38%	39.30%	7.65%				45.88%
operating margin %	32.84%	31.73%	28.10%	29.47%	34.58%	31.22%	30.48%	23.73%	27.23%	22.72%	21.58%	21.67%	27.89%	23.10%	18.96%	15.81%	22.30%	19.19%	18.41%	17.12%	22.65%	19.49%	18.96%	20.09%	19.27%	18.26%	14.41%	10.71%	16.79%	13.84%	11.49%	8.12%	10.13%	9.00%	7.84%	1.59%	12.46%	1.73%	-1.30%	-1.99%	4.34%	-0.71%	1.23%	0.42%	8.89%	7.99%	6.05%	7.59%	13.90%	11.82%	9.34%	11.33%	23.18%	18.91%	16.25%	15.96%	21.94%	22.47%	18.23%	18.70%	NaN%	0%	12.81%	9.61%
interest income	32,300,000	40,700,000	45,000,000	44,300,000	42,300,000	42,400,000	38,300,000	32,200,000	30,500,000	37,000,000	31,600,000	20,600,000	9,100,000	4,600,000	2,400,000	1,300,000	1,000,000	1,200,000	1,200,000						8,150,000	11,400,000	11,000,000	10,200,000			5,800,000	4,500,000	4,061,000	3,866,000	3,163,000	2,392,000	1,964,000	1,888,000	1,705,000	1,746,000	1,176,000	1,333,000	1,364,000	1,422,000	1,402,000	1,339,000	1,319,000	1,333,000	1,318,000	1,282,000	1,337,000	1,369,000	1,400,000	1,318,000	1,203,000	1,085,000	963,000	904,000	863,000	793,000			399,000	268,000
interest expense	-4,400,000	-6,200,000	-4,600,000	-4,900,000	-4,900,000	-5,000,000	-5,000,000	-5,100,000	-5,400,000	-5,400,000	-5,200,000	-5,000,000	-4,500,000	-4,500,000	-4,500,000	-4,500,000	-4,500,000	-4,600,000	-4,500,000
other income—net	-2,700,000	13,000,000	18,900,000	26,100,000	6,900,000	11,800,000		-2,900,000				2,000,000			-9,300,000				800,000				900,000		-600,000	-6,000,000			-2,300,000	900,000	-5,000,000	-200,000	-1,181,000	344,000	1,243,000	302,000							-830,000	-677,000	-1,200,000	-1,005,000	-574,000	-389,000	-419,000	-1,151,000	-100,000	215,000	-170,000	-317,000	73,000		-112,000	60,000	-207,000	-95,000			87,000	-250,000
income before income taxes and gain from equity method investments	650,800,000	594,800,000	517,300,000	519,300,000
provision for income taxes	144,800,000	120,700,000	77,100,000	96,500,000	86,700,000	81,200,000	76,500,000	39,500,000	95,200,000	-300,000	27,600,000	21,300,000	9,200,000	27,300,000	2,400,000	-8,100,000	3,700,000	-9,300,000	7,500,000	12,200,000	25,000,000	5,000,000	9,500,000	13,100,000	12,500,000	25,600,000	13,100,000	1,500,000	-90,500,000	11,900,000	2,200,000		74,039,000	11,296,000	9,873,000		18,341,000	298,000	-2,302,000	-1,809,000	15,570,000	-9,329,000													8,276,000	5,556,000	10,877,000	9,207,000	4,941,000	4,556,000			3,397,000	2,504,000
gain from equity method investments		-200,000	-100,000	10,600,000
net income	506,000,000	473,900,000	440,100,000	433,400,000	526,200,000	539,900,000	379,800,000	299,300,000	310,900,000	322,900,000	266,300,000	247,700,000	313,800,000	231,600,000	173,500,000	138,400,000	199,000,000	163,100,000	137,500,000	107,200,000	146,700,000	123,400,000	112,100,000	104,000,000	115,200,000	79,800,000	72,700,000	58,800,000	182,600,000	58,700,000	49,300,000	41,600,000	-28,961,000	26,610,000	23,033,000	10,717,000	25,166,000	6,291,000	-1,388,000	-3,429,000	-2,534,000	8,169,000	792,000	1,560,000	6,813,000	4,056,000	6,081,000	8,393,000	12,016,000	11,029,000	8,979,000	12,249,000	21,507,000	17,206,000	13,950,000	14,173,000	16,494,000	17,917,000	14,494,000	13,587,000			6,869,000	4,218,000
yoy	-3.84%	-12.22%	15.88%	44.80%	69.25%	67.20%	42.62%	20.83%	-0.92%	39.42%	53.49%	78.97%	57.69%	42.00%	26.18%	29.10%	35.65%	32.17%	22.66%	3.08%	27.34%	54.64%	54.20%	76.87%	-36.91%	35.95%	47.46%	41.35%	-730.50%	120.59%	114.04%	288.17%	-215.08%	322.99%	-1759.44%	-412.54%	-1093.13%	-22.99%	-275.25%	-319.81%	-137.19%	101.41%	-86.98%	-81.41%	-43.30%	-63.22%	-32.28%	-31.48%	-44.13%	-35.90%	-35.63%	-13.58%	30.39%	-3.97%	-3.75%	4.31%			111.01%	222.12%
qoq	6.77%	7.68%	1.55%	-17.64%	-2.54%	42.15%	26.90%	-3.73%	-3.72%	21.25%	7.51%	-21.06%	35.49%	33.49%	25.36%	-30.45%	22.01%	18.62%	28.26%	-26.93%	18.88%	10.08%	7.79%	-9.72%	44.36%	9.77%	23.64%	-67.80%	211.07%	19.07%	18.51%	-243.64%	-208.84%	15.53%	114.92%	-57.41%	300.03%	-553.24%	-59.52%	35.32%	-131.02%	931.44%	-49.23%	-77.10%	67.97%	-33.30%	-27.55%	-30.15%	8.95%	22.83%	-26.70%	-43.05%	25.00%	23.34%	-1.57%	-14.07%	-7.94%	23.62%	6.68%				62.85%
net income margin %	26.56%	27.47%	27.00%	28.15%	31.70%	35.80%	26.48%	22.12%	21.97%	24.19%	20.60%	19.62%	24.46%	20.15%	16.84%	14.50%	20.65%	18.81%	17.16%	15.09%	19.61%	18.95%	18.21%	18.03%	18.75%	14.58%	13.94%	12.44%	36.02%	12.93%	11.17%	10.43%	-6.95%	7.11%	6.34%	3.15%	6.94%	1.99%	-0.45%	-1.20%	-0.85%	3.14%	0.33%	0.73%	3.04%	2.10%	3.30%	4.97%	6.78%	7.13%	6.09%	9.02%	14.23%	12.63%	10.82%	12.09%	13.65%	15.39%	14.07%	14.57%	NaN%	0%	9.00%	6.04%
net income per share
basic	0.68	0.63	0.57	0.56	0.68	0.71	0.5	0.39	0.4	0.41	0.34	0.32	0.4	0.29	0.22	0.86	1.22	1	0.84	0.66	0.91	0.76	0.69	0.61	0.67	0.47	0.42	0.35	1.07	0.35	0.29	0.25	-0.16	0.15	0.13	0.06	0.15	0.04	-0.01	-0.02	-0.01	0.05		0.01	0.04	0.02	0.04	0.05	0.07	0.07	0.06	0.08	0.13	0.11	0.09	0.09	0.11	0.12	0.1	0.18			0.1	0.06
diluted	0.67	0.62	0.57	0.56	0.68	0.7	0.49	0.39	0.41	0.41	0.33	0.31	0.39	0.29	0.21	0.84	1.19	0.97	0.82	0.64	0.88	0.75	0.68	0.6	0.66	0.46	0.42	0.34	1.05	0.33	0.28	0.24	-0.16	0.15	0.13	0.06	0.14	0.04	-0.01	-0.02	-0.01	0.05		0.01	0.04	0.02	0.04	0.05	0.07	0.07	0.05	0.07	0.13	0.1	0.08	0.09	0.1	0.11	0.09	0.17			0.09	0.06
weighted-average shares outstanding:
basic	758	755.5	765.5	768.3	764.4	765	763.8	762.4	778.6	781.2	785	783.2	791.4	786.2	795.4	160.7	163.2	163.5	163.3	163	164.2	162.1	161.6	170.6	171	171.3	171.1	170.2	169.1	169.8	168.6	167.7	174,315	175,519	175,741	174,489	172,621	173,335	172,075	171,745	170,385	171,648	169,930	168,077	163,831	164,294	163,161	162,391	162,435	162,906	162,247	161,282	158,074	158,751	157,474	156,010	152,581	153,265	152,267	75,154			68,495	67,181
diluted	764.6	761.2	772.7	776.8	771.9	771.9	769.9	770.5	788.2	791.2	795.9	793.4	805.3	798.6	810.1	164.2	167.1	167.7	167.1	166.4	167.7	165.6	165.4	174.2	175	174.8	175.1	174.8	174.2	175.7	173.5	171.8	178,079	178,973	179,701	178,278	176,338	177,938	172,075	171,745	176,141	177,897	176,234	173,720	169,289	169,727	168,345	168,114	168,183	168,666	168,042	167,823	166,329	166,791	166,061	165,751	163,781	163,869	163,887	81,432			75,637	74,878
gain on intellectual property matter					-1,200,000	-1,100,000	-1,200,000	-1,100,000	-1,200,000	-1,100,000	-1,100,000	-1,200,000	-1,200,000	-1,100,000	-1,200,000	-1,100,000	-1,200,000	-1,100,000	-1,200,000	-1,100,000	-1,200,000	-1,100,000	-1,100,000	-36,800,000
gain on bargain purchase						106,300,000
income before income taxes and loss from equity method investments					618,400,000	626,400,000	468,300,000	345,400,000
loss from equity method investments					-5,500,000	-5,300,000	-12,000,000	-6,600,000
other expense—net							-2,200,000		5,100,000	-7,000,000	-6,200,000		5,800,000	-900,000		-9,100,000	-4,100,000	-6,300,000		-2,000,000	300,000	-1,000,000		-8,000,000			-400,000	-500,000									-3,650,000	-787,000	-1,350,000	-1,312,000	-1,007,000	-653,000														-71,000
income before income taxes and loss from equity method investment									229,525,000	327,800,000	299,200,000	291,100,000	368,200,000	264,700,000	183,900,000	138,700,000	207,300,000	156,700,000
loss from equity method investment									-8,150,000	-5,200,000	-5,300,000	-22,100,000	-45,200,000	-6,300,000	-8,100,000	-8,500,000	-4,800,000	-2,800,000
net income including non-controlling interests									310,900,000	322,900,000	266,300,000	247,700,000	313,800,000	231,100,000	173,400,000	138,300,000	198,800,000	163,200,000
less: net loss attributable to non-controlling interests, net of tax															-100,000	-100,000
weighted-average shares used for eps calculation
basic	758	755.5	765.5	768.3	764.4	765	763.8	762.4	778.6	781.2	785	783.2	791.4	786.2	795.4	160.7	163.2	163.5	163.3	163	164.2	162.1	161.6	170.6	171	171.3	171.1	170.2	169.1	169.8	168.6	167.7	174,315	175,519	175,741	174,489	172,621	173,335	172,075	171,745	170,385	171,648	169,930	168,077	163,831	164,294	163,161	162,391	162,435	162,906	162,247	161,282	158,074	158,751	157,474	156,010	152,581	153,265	152,267	75,154			68,495	67,181
diluted	764.6	761.2	772.7	776.8	771.9	771.9	769.9	770.5	788.2	791.2	795.9	793.4	805.3	798.6	810.1	164.2	167.1	167.7	167.1	166.4	167.7	165.6	165.4	174.2	175	174.8	175.1	174.8	174.2	175.7	173.5	171.8	178,079	178,973	179,701	178,278	176,338	177,938	172,075	171,745	176,141	177,897	176,234	173,720	169,289	169,727	168,345	168,114	168,183	168,666	168,042	167,823	166,329	166,791	166,061	165,751	163,781	163,869	163,887	81,432			75,637	74,878
less: net income attributable to non-controlling interests, net of tax													-175,000	-500,000			25,000	100,000
income before income taxes																			145,000,000	119,400,000	171,700,000	128,400,000	121,600,000	117,100,000	127,700,000	105,400,000	85,800,000	60,300,000	92,100,000	70,600,000	51,500,000	36,700,000	45,078,000	37,906,000	32,906,000	8,104,000	43,507,000	6,589,000	-3,690,000	-5,238,000	13,036,000	-1,160,000	3,486,000	1,643,000	20,118,000	15,785,000	11,887,000	13,759,000	25,542,000	18,410,000	15,014,000	16,975,000	36,270,000	26,771,000	22,226,000	19,729,000	27,371,000	27,124,000	19,435,000	18,143,000			10,266,000	6,722,000
interest income—net																				-200,000	2,000,000	2,500,000	4,000,000	9,200,000					4,300,000	6,900,000
restructuring charges																																			-90,000	430,000	833,000	2,283,000	553,000	328,000	1,717,000	5,883,000
benefit from income taxes																																-4,900,000				-2,613,000							2,694,000	83,000	13,305,000	11,729,000	5,806,000	5,366,000	13,526,000	7,381,000	6,035,000	4,726,000	14,763,000	9,565,000
services and other																																													113,291,000	105,617,000	98,714,000	92,184,000
services																																																	90,276,000	83,883,000	79,668,000	75,896,000	76,711,000	69,782,000	65,412,000	62,138,000	61,076,000	57,835,000	52,671,000	48,686,000			40,964,000	38,625,000
ratable and other revenue																																																	3,190,000	1,129,000	1,235,000	1,974,000	3,426,000	3,459,000	1,858,000	1,905,000	2,322,000	5,498,000
ratable product and services																																																											3,665,000	4,415,000			4,330,000	4,060,000
gaap gross profit and margin																																																														63,528,000
stock-based compensation expense																																																														268,000
non-cash asset acquisition related write-offs
non-gaap gross profit and margin																																																														63,796,000
gaap income from operations and margin																																																														18,159,000
stock-based compensation expense:
cost of revenue																																																														268,000
total stock-based compensation																																																														2,434,000
non-gaap income from operations and margin																																																														20,593,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-06-30	2010-03-31	2009-12-31

assets
current assets:
cash and cash equivalents	2,495,300,000	1,995,700,000	3,368,500,000	3,596,600,000	2,875,900,000	2,489,300,000	2,203,200,000	1,926,300,000	1,397,900,000	2,186,800,000	2,376,300,000	2,304,200,000	1,682,900,000	964,000,000	710,000,000	923,500,000	1,319,100,000	1,852,100,000	1,879,300,000	1,860,200,000	1,061,800,000	882,300,000	916,400,000	626,100,000	1,222,500,000	1,175,500,000	1,022,100,000	1,216,900,000	1,112,400,000	1,169,300,000	972,100,000	835,600,000	811,004,000	905,794,000	853,137,000	823,249,000	709,003,000	647,513,000	596,380,000	568,008,000	543,277,000	540,712,000	481,393,000	386,352,000	283,254,000	258,096,000	203,947,000	172,968,000	115,873,000	144,546,000	123,468,000	97,384,000	122,975,000	75,466,000	81,226,000	74,783,000	71,990,000	66,630,000	78,019,000	68,981,000	116,435,000	174,255,000	212,458,000
short-term investments	1,087,200,000	1,127,700,000	1,194,400,000	1,183,900,000	1,126,400,000	1,162,400,000	1,114,900,000	1,075,400,000	1,021,500,000	962,200,000	915,100,000	548,800,000	502,600,000	739,500,000	1,020,600,000	1,185,700,000	1,194,000,000	1,228,100,000	1,233,900,000	1,076,700,000	775,500,000	774,400,000	610,500,000	775,200,000	843,100,000	764,800,000	808,100,000	584,900,000	537,200,000	464,900,000	461,600,000	468,300,000	440,273,000	369,961,000	354,187,000	375,423,000	376,522,000	382,909,000	388,388,000	384,591,000	348,074,000	367,446,000	391,634,000	417,605,000	436,766,000	402,495,000	354,174,000	388,083,000	375,497,000	368,472,000	379,229,000	362,996,000	290,719,000	299,180,000	320,403,000	353,287,000	318,283,000	322,536,000	264,001,000	232,617,000	135,912,000	73,905,000	47,856,000
accounts receivable	1,691,200,000	1,168,300,000	1,215,700,000	1,174,000,000	1,463,400,000	1,044,100,000	1,083,400,000	996,200,000	1,402,000,000	1,013,800,000	1,078,800,000	1,087,200,000	1,261,700,000	963,200,000	919,500,000	790,400,000	807,700,000	604,900,000	584,600,000	637,300,000	720,000,000	546,600,000	498,700,000	474,700,000		384,100,000	403,100,000	381,000,000		324,400,000	333,600,000	313,100,000														116,382,000	127,825,000	111,489,000	130,471,000	107,802,000	108,907,000	102,359,000	107,642,000	89,843,000	95,351,000	84,759,000	95,522,000	75,835,000	72,212,000	71,326,000	59,806,000	51,315,000	54,551,000
inventory	399,500,000	426,600,000	405,200,000	362,700,000	315,500,000	354,300,000	383,200,000	439,500,000	484,800,000	467,500,000	376,300,000	302,700,000	264,600,000	215,800,000	195,200,000	184,600,000	175,800,000	177,900,000	149,800,000	149,600,000	139,800,000	134,500,000	126,000,000	105,000,000	117,900,000	99,200,000	85,700,000	88,400,000	90,000,000	80,800,000	78,200,000	80,000,000	77,291,000	73,595,000	86,439,000	104,978,000	106,887,000	93,731,000	81,247,000	78,239,000	83,868,000	80,650,000	68,845,000	72,060,000	69,477,000	51,344,000	46,824,000	43,294,000	48,672,000	46,876,000	33,317,000	23,933,000	21,060,000	26,182,000	20,828,000	17,959,000	16,249,000				12,121,000	9,867,000	10,649,000
prepaid expenses and other current assets	227,000,000	195,200,000	162,500,000	125,400,000	126,100,000	121,500,000	113,400,000	100,900,000	101,100,000	102,600,000	109,500,000	89,700,000	73,100,000	72,800,000	83,300,000	91,700,000	65,400,000	59,700,000	60,600,000	57,400,000	43,300,000	46,800,000	57,100,000	54,300,000	41,200,000	42,600,000	41,700,000	42,100,000	36,800,000	38,700,000	39,300,000	38,800,000	40,067,000	43,302,000	36,395,000	42,321,000	33,306,000	31,732,000	33,490,000	34,728,000	35,761,000	41,517,000	35,326,000	32,757,000	31,143,000	16,826,000	23,195,000	14,670,000	14,053,000	38,271,000	27,479,000	26,988,000	13,215,000	16,893,000	19,640,000	13,749,000	11,808,000	9,258,000	10,139,000	7,749,000	4,539,000	3,591,000	3,100,000
total current assets	5,900,200,000	4,913,500,000	6,346,300,000	6,442,600,000	5,971,500,000	5,220,600,000	4,919,300,000	4,559,700,000	4,428,300,000	4,752,700,000	4,878,100,000	4,358,700,000	3,810,400,000	2,982,200,000	2,952,900,000	3,208,300,000	3,600,600,000	3,963,500,000	3,908,200,000	3,781,200,000	2,740,400,000	2,384,600,000	2,208,700,000	2,035,300,000	2,769,000,000	2,466,200,000	2,360,700,000	2,313,300,000	2,220,900,000	2,078,100,000	1,884,800,000	1,735,800,000	1,716,820,000	1,650,651,000	1,604,634,000	1,616,082,000	1,538,716,000	1,394,873,000	1,353,884,000	1,285,701,000	1,270,543,000	1,251,740,000	1,195,510,000	1,111,803,000	1,046,865,000	896,440,000	806,949,000	781,460,000	735,546,000	705,967,000	672,400,000	613,660,000	569,274,000	514,652,000	544,511,000	551,500,000	523,570,000	503,926,000	454,412,000	404,141,000	345,407,000	326,553,000	342,217,000
long-term investments	339,700,000	289,100,000	112,000,000	35,200,000						1,500,000	4,200,000	15,600,000	45,500,000	84,000,000	188,500,000	360,800,000	440,800,000	298,200,000	246,600,000	151,100,000	118,300,000	117,900,000	100,400,000	172,000,000	144,300,000	204,200,000	149,500,000	50,200,000	67,000,000	38,600,000	65,300,000	82,500,000	98,022,000	247,875,000	257,622,000	242,333,000	224,983,000	240,228,000	237,223,000	241,888,000	272,959,000	261,506,000	275,344,000	268,608,000	271,724,000	303,168,000	352,473,000	327,263,000	351,675,000	327,987,000	311,713,000	322,158,000	325,892,000	315,657,000	242,769,000	172,236,000	148,414,000	113,801,000	126,478,000	131,105,000	56,613,000	32,777,000
property and equipment—net	1,619,000,000	1,605,200,000	1,544,800,000	1,403,800,000	1,349,500,000	1,273,400,000	1,242,700,000	1,247,400,000	1,044,400,000	1,038,000,000	981,900,000	917,400,000	898,500,000	889,500,000	814,600,000	786,500,000	687,600,000	556,600,000	506,500,000	494,200,000	448,000,000	419,400,000	392,600,000	374,200,000	344,300,000	305,500,000	284,700,000	272,000,000	271,400,000	265,400,000	256,000,000	245,100,000	245,395,000	239,891,000	238,513,000	155,476,000	137,249,000	126,109,000	125,636,000	115,782,000	91,067,000	83,372,000	71,465,000	63,487,000	58,919,000	56,812,000	55,300,000	47,474,000	36,652,000	28,380,000	27,047,000	25,803,000	25,638,000	26,020,000	10,247,000	9,560,000	7,966,000	7,485,000	7,339,000	7,098,000	6,737,000	6,663,000	6,387,000
deferred contract costs	735,500,000	682,200,000	665,400,000	636,200,000	622,900,000	599,400,000	596,900,000	600,000,000	605,600,000	569,900,000	558,800,000	536,900,000	518,200,000	480,500,000	456,900,000	437,500,000	423,300,000	378,800,000	347,800,000	320,200,000	304,800,000	281,100,000	263,500,000	248,700,000	237,000,000	217,400,000	204,100,000	190,500,000	182,600,000	169,600,000	160,600,000	148,700,000
deferred tax assets	1,314,900,000	1,367,800,000	1,457,200,000	1,411,600,000	1,335,600,000	1,300,400,000	998,500,000	942,500,000	868,800,000	788,500,000	729,200,000	649,600,000	569,400,000	515,500,000	480,200,000	431,700,000	342,300,000	337,300,000	271,200,000	260,600,000	245,200,000	230,100,000	218,900,000	226,500,000	232,600,000	243,700,000	258,800,000	262,700,000	255,000,000	147,800,000	141,900,000	138,700,000	146,932,000	204,721,000	207,029,000	199,186,000	182,745,000	189,434,000	180,782,000	131,696,000	119,216,000	47,304,000	41,463,000	41,175,000	41,484,000	51,297,000	50,984,000	50,956,000	50,980,000					7,088,000	7,063,000	6,963,000
goodwill	257,400,000	258,300,000	258,900,000	236,200,000	235,400,000	212,800,000	127,900,000	129,000,000	126,500,000	125,400,000	126,000,000	127,800,000	128,000,000	120,200,000	121,300,000	123,800,000	125,100,000	127,600,000	99,200,000	99,200,000	93,000,000	68,200,000	67,200,000	67,200,000	67,200,000	38,200,000	38,200,000	38,200,000	38,200,000	25,700,000	25,100,000	14,600,000	14,553,000	14,553,000	14,553,000	14,553,000	14,553,000	14,553,000	14,235,000	4,692,000	4,692,000	4,260,000	2,824,000	2,824,000	2,824,000	2,824,000	2,824,000	2,824,000	2,872,000
other intangible assets—net	97,300,000	110,200,000	123,300,000	121,200,000	115,000,000	111,600,000	30,200,000	34,100,000	35,300,000	39,600,000	44,600,000	51,100,000	56,000,000	38,800,000	45,400,000	55,100,000	63,600,000	71,000,000	28,700,000	32,300,000	31,600,000	25,300,000	23,400,000	27,100,000	31,100,000	14,000,000	16,200,000	19,100,000	22,100,000	18,100,000	21,400,000	14,500,000	16,255,000	18,291,000	20,328,000	22,535,000	24,828,000	27,849,000	31,488,000	16,457,000	17,640,000	18,967,000	693,000	2,559,000	2,832,000	3,104,000	3,377,000	6,218,000	6,841,000
other assets	125,200,000	135,000,000	133,500,000	120,200,000	133,200,000	133,800,000	137,400,000	149,400,000	150,000,000	163,700,000	163,300,000	175,200,000	202,000,000	225,200,000	234,700,000	247,400,000	235,800,000	237,600,000	150,700,000	143,400,000	63,200,000	59,600,000	55,900,000	55,200,000	60,000,000	56,400,000	57,200,000	59,700,000	20,800,000	20,200,000	20,600,000	20,800,000	19,939,000	19,297,000	18,012,000	17,218,000	16,867,000	17,114,000	16,930,000	15,305,000	14,393,000	15,325,000	14,888,000	10,024,000	10,530,000	7,977,000	7,658,000	4,734,000	4,820,000	3,200,000	3,283,000	61,144,000	6,168,000	6,546,000	7,715,000	8,625,000	4,899,000	4,557,000	4,895,000	3,178,000	1,273,000	1,188,000	1,195,000
total assets	10,389,200,000	9,361,300,000	10,641,400,000	10,407,000,000	9,763,100,000	8,852,000,000	8,052,900,000	7,662,100,000	7,258,900,000	7,479,300,000	7,486,100,000	6,832,300,000	6,228,000,000	5,335,900,000	5,294,500,000	5,651,100,000	5,919,100,000	5,970,600,000	5,558,900,000	5,282,200,000	4,044,500,000	3,586,200,000	3,330,600,000	3,206,200,000	3,885,500,000	3,545,600,000	3,369,400,000	3,205,700,000	3,078,000,000	2,763,500,000	2,575,700,000	2,400,700,000	2,257,916,000	2,395,279,000	2,360,691,000	2,267,383,000	2,139,941,000	2,010,160,000	1,960,178,000	1,811,521,000	1,790,510,000	1,707,173,000	1,604,876,000	1,498,303,000	1,424,774,000	1,312,601,000	1,265,112,000	1,200,031,000	1,168,464,000	1,128,142,000	1,085,746,000	1,032,729,000	975,497,000	913,268,000	851,245,000	788,444,000	734,747,000	670,987,000	635,235,000	587,753,000	447,597,000	404,209,000	387,213,000
liabilities and stockholders’ equity
current liabilities:
accounts payable	230,800,000	221,300,000	245,200,000	224,500,000	190,900,000	177,900,000	132,100,000	135,200,000	204,300,000	253,900,000	238,300,000	238,400,000	243,400,000	215,100,000	193,100,000	174,700,000	148,400,000	142,300,000	132,000,000	129,500,000	141,600,000	95,900,000	107,200,000	87,800,000	96,400,000	85,900,000	72,400,000	69,200,000	86,400,000	66,600,000	63,700,000	55,700,000	70,009,000	44,543,000	42,171,000	48,689,000	56,732,000	57,530,000	56,920,000	47,955,000	61,500,000	48,793,000	42,336,000	40,164,000	49,947,000	36,520,000	35,848,000	27,603,000	35,599,000	33,257,000	35,964,000	26,369,000	20,816,000	23,160,000	24,101,000	13,764,000	19,768,000	15,342,000	13,207,000	8,696,000	12,639,000	10,186,000	10,987,000
accrued liabilities	354,600,000	330,600,000	339,100,000	415,000,000	337,900,000	376,600,000	400,600,000	538,700,000	423,700,000	317,200,000	266,800,000	346,700,000	266,300,000	244,800,000	241,200,000	261,400,000	197,300,000	247,800,000	168,800,000	143,200,000	149,200,000	127,800,000	118,200,000	121,400,000	97,700,000	90,400,000	83,200,000	88,700,000	77,500,000	60,700,000	59,000,000	55,600,000	50,015,000	40,439,000	41,185,000	43,449,000	35,640,000	37,280,000	32,901,000	33,543,000	33,028,000	29,831,000	29,145,000	25,873,000	29,016,000	25,662,000	25,176,000	25,716,000	27,380,000	32,317,000	28,091,000	21,677,000	22,263,000	19,032,000	17,280,000	16,721,000	15,971,000	22,286,000	19,976,000	19,640,000	14,269,000	14,003,000	15,050,000
accrued payroll and compensation	312,900,000	274,300,000	281,300,000	250,200,000	255,700,000	248,200,000	217,300,000	214,500,000	242,300,000	210,500,000	224,800,000	213,400,000	219,400,000	190,700,000	187,400,000	181,100,000	195,000,000	174,200,000	164,700,000	141,900,000	145,900,000	121,900,000	110,700,000	103,600,000	101,800,000	90,400,000	91,600,000	81,000,000	98,400,000	85,400,000	91,300,000	82,300,000	91,944,000	75,482,000	80,307,000	73,204,000	78,138,000	65,610,000	70,787,000	58,165,000	61,111,000	47,915,000	51,545,000	42,727,000	45,875,000	40,692,000	43,705,000	35,845,000	34,997,000	30,450,000	30,787,000	26,350,000	28,957,000	25,940,000	27,086,000	23,918,000	24,197,000	21,112,000	20,656,000	20,071,000	15,943,000	14,541,000	13,991,000
current portion of long-term debt	499,700,000	499,400,000	499,000,000	498,700,000														17,600,000
deferred revenue	3,636,000,000	3,460,500,000	3,412,500,000	3,339,400,000	3,276,200,000	3,081,200,000	2,975,300,000	2,912,000,000	2,848,700,000	2,647,300,000	2,587,700,000	2,463,300,000	2,349,300,000	2,129,000,000	2,013,200,000	1,893,300,000	1,777,400,000	1,616,100,000	1,533,000,000	1,465,100,000	1,392,800,000	1,300,000,000	1,275,800,000	1,230,200,000	1,173,600,000	1,063,600,000	1,031,500,000	991,100,000	965,900,000	876,200,000	849,500,000	817,100,000	793,820,000	734,313,000	706,672,000	677,114,000	645,342,000	582,145,000	563,195,000	538,449,000	514,652,000	471,118,000	441,177,000	406,526,000	368,929,000	329,132,000	321,359,000	305,702,000	293,664,000	271,302,000	265,639,000	257,332,000	247,268,000	230,562,000	226,510,000	216,558,000	206,928,000	192,927,000	192,450,000	187,517,000	154,271,000
total current liabilities	5,034,000,000	4,786,100,000	4,777,100,000	4,727,800,000	4,060,700,000	3,883,900,000	3,725,300,000	3,800,400,000	3,719,000,000	3,649,000,000	3,500,600,000	3,261,800,000	3,078,400,000	2,779,600,000	2,634,900,000	2,510,500,000	2,318,100,000	2,198,000,000	1,998,500,000	1,879,700,000	1,829,500,000	1,645,600,000	1,611,900,000	1,543,000,000	1,473,600,000	1,341,900,000	1,293,700,000	1,254,300,000	1,256,400,000	1,111,900,000	1,085,200,000	1,029,700,000	1,027,223,000	910,639,000	885,519,000	856,585,000	829,440,000	750,360,000	731,964,000	687,342,000	678,670,000	603,134,000	565,299,000	518,633,000	496,456,000	434,496,000	426,088,000	394,866,000	413,061,000	367,326,000	360,481,000	331,728,000	319,304,000	298,694,000	294,977,000	270,961,000	266,864,000	251,667,000	246,289,000	235,924,000	197,122,000	183,870,000	180,565,000
long-term debt	496,600,000	496,500,000	496,300,000	496,200,000	994,300,000	993,800,000	993,300,000	992,800,000	992,300,000	991,800,000	991,300,000	990,900,000	990,400,000	989,900,000	989,400,000	988,900,000	988,400,000	988,000,000	987,500,000	987,000,000
other liabilities	141,300,000	153,700,000	152,500,000	141,100,000	129,600,000	135,700,000	125,200,000	128,500,000	124,700,000	64,600,000	73,000,000	80,100,000	82,000,000	56,900,000	63,900,000	71,200,000	59,200,000	62,200,000	55,100,000	56,500,000	56,200,000	56,100,000	50,500,000	49,000,000	44,900,000	38,200,000	36,100,000	37,900,000	13,000,000	11,100,000	12,200,000	13,400,000	8,609,000	9,778,000	16,516,000	18,619,000	14,262,000	16,069,000	16,498,000	17,874,000	19,188,000	15,954,000	15,601,000	15,998,000	17,385,000	17,467,000	18,411,000	16,610,000	471,000	1,424,000	1,409,000	34,210,000	29,342,000	26,589,000	24,766,000	21,142,000
total liabilities	9,151,700,000	8,626,200,000	8,581,000,000	8,444,100,000	8,269,300,000	7,943,900,000	7,764,700,000	7,799,600,000	7,722,300,000	7,405,200,000	7,164,900,000	6,820,900,000	6,509,600,000	5,958,700,000	5,674,100,000	5,417,900,000	5,120,700,000	4,835,000,000	4,508,700,000	4,301,400,000	3,188,500,000	2,873,000,000	2,786,700,000	2,669,900,000	2,563,600,000	2,345,200,000	2,247,100,000	2,147,600,000	2,067,800,000	1,871,900,000	1,795,500,000	1,707,200,000	1,668,539,000	1,493,054,000	1,438,552,000	1,369,134,000	1,302,260,000	1,187,072,000	1,155,552,000	1,069,118,000	1,035,133,000	911,787,000	854,049,000	778,556,000	748,808,000	663,375,000	639,893,000	589,937,000	582,704,000	528,189,000	518,561,000	485,020,000	464,563,000	434,799,000	424,601,000	390,117,000	376,393,000	354,120,000	347,715,000	329,661,000	271,243,000	253,103,000	244,761,000
commitments and contingencies
stockholders’ equity:
common stock	700,000	700,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	800,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	200,000	168,000	175,000	175,000	175,000	173,000	173,000	172,000	171,000	171,000	172,000	170,000	169,000	166,000	165,000	163,000	163,000	161,000	163,000	164,000	164,000	162,000	161,000	159,000	158,000	156,000	155,000	154,000	77,000	71,000	68,000	67,000
additional paid-in capital	1,770,100,000	1,714,700,000	1,715,900,000	1,668,700,000	1,636,200,000	1,568,600,000	1,499,000,000	1,448,900,000	1,416,400,000	1,397,000,000	1,375,900,000	1,327,400,000	1,284,200,000	1,250,200,000	1,237,300,000	1,236,300,000	1,254,200,000	1,257,700,000	1,245,800,000	1,225,200,000	1,207,200,000	1,178,500,000	1,154,300,000	1,128,400,000	1,180,300,000	1,152,600,000	1,130,200,000	1,108,100,000	1,068,300,000	1,048,400,000	996,100,000	957,900,000	909,636,000	912,053,000	880,142,000	850,226,000	800,653,000	779,669,000	744,922,000	718,849,000	687,658,000	671,138,000	634,969,000	604,147,000	562,504,000	537,450,000	507,053,000	486,174,000	462,644,000	455,279,000	437,837,000	425,524,000	400,075,000
accumulated other comprehensive loss	-25,400,000	-21,800,000	-20,700,000	-22,900,000	-26,100,000	-18,000,000	-29,000,000	-24,800,000	-18,900,000	-24,300,000	-23,100,000	-18,100,000	-20,200,000	-25,500,000	-23,400,000	-15,400,000												-200,000	-800,000	-1,000,000	-1,400,000	-2,000,000	-847,000	-416,000	-523,000	-489,000	-765,000				-933,000	-90,000	-309,000
accumulated deficit	-507,900,000	-958,500,000			-117,100,000	-643,300,000	-1,182,600,000	-1,562,400,000	-1,861,700,000	-1,299,400,000	-1,032,400,000	-1,298,700,000	-1,546,400,000	-1,860,200,000	-1,607,600,000	-1,003,400,000	-467,900,000	-138,600,000	-195,700,000	-244,900,000							-9,000,000	-50,000,000	-57,500,000	-156,000,000	-214,700,000	-262,600,000																												-5,140,000	-48,885,000	-55,754,000	-59,972,000
total stockholders’ equity	1,237,500,000	735,100,000	2,060,400,000	1,962,900,000	1,493,800,000	908,100,000	288,200,000			74,100,000	321,200,000	11,400,000							1,050,200,000	980,800,000	856,000,000	713,200,000	543,900,000	536,300,000	1,321,900,000	1,200,400,000	1,122,300,000	1,058,100,000	1,010,200,000	891,600,000	780,200,000	693,500,000	589,377,000	902,225,000	922,139,000	898,249,000	837,681,000	823,088,000	804,626,000	742,403,000	755,377,000	795,386,000	750,827,000	719,747,000	675,966,000	649,226,000	625,219,000	610,094,000	585,760,000	599,953,000	567,185,000	547,709,000	510,934,000				358,354,000				176,354,000	151,106,000	142,452,000
total liabilities and stockholders’ equity	10,389,200,000	9,361,300,000	10,641,400,000	10,407,000,000	9,763,100,000	8,852,000,000	8,052,900,000			7,479,300,000	7,486,100,000	6,832,300,000							5,558,900,000	5,282,200,000	4,044,500,000	3,586,200,000	3,330,600,000	3,206,200,000	3,885,500,000	3,545,600,000	3,369,400,000	3,205,700,000	3,078,000,000	2,763,500,000	2,575,700,000	2,400,700,000	2,257,916,000	2,395,279,000	2,360,691,000	2,267,383,000	2,139,941,000	2,010,160,000	1,960,178,000	1,811,521,000	1,790,510,000	1,707,173,000	1,604,876,000	1,498,303,000	1,424,774,000	1,312,601,000	1,265,112,000	1,200,031,000	1,168,464,000	1,128,142,000	1,085,746,000	1,032,729,000	975,497,000				734,747,000				447,597,000	404,209,000	387,213,000
retained earnings			364,400,000	316,300,000																	-352,100,000	-466,900,000	-613,100,000	-589,200,000	140,300,000	46,500,000							-319,580,000	-9,587,000	42,345,000	48,337,000	37,620,000	43,093,000	58,808,000	23,089,000	68,481,000	124,166,000	115,997,000	115,205,000	113,645,000	111,497,000	116,822,000	123,680,000	121,863,000	142,858,000	131,829,000	122,850,000	110,601,000	89,094,000	71,888,000	57,938,000	43,765,000	27,271,000	9,354,000
marketable equity securities					64,200,000	49,000,000	21,200,000	21,400,000	21,000,000	19,800,000	22,100,000	26,100,000	25,500,000	26,900,000	24,300,000	32,400,000	38,600,000	40,800,000
stockholders’ equity
liabilities and stockholders’ deficit
stockholders’ deficit:
total stockholders’ deficit								-137,500,000	-463,400,000
total liabilities and stockholders’ deficit								7,662,100,000	7,258,900,000
income taxes payable										220,100,000	183,000,000														4,100,000	11,600,000	15,000,000	24,300,000	28,200,000	23,000,000	21,700,000	19,000,000	21,435,000	15,862,000	15,184,000	14,129,000	13,588,000	7,795,000	8,161,000	9,230,000	8,379,000	5,477,000	1,096,000	3,343,000	2,689,000	2,490,000			21,421,000
income tax liabilities										61,800,000	59,100,000	70,500,000	67,800,000	67,800,000	67,100,000	82,700,000	79,500,000	96,500,000	95,200,000	97,700,000	90,300,000	79,300,000	77,300,000	81,300,000	82,800,000	83,100,000	82,300,000	80,700,000	77,500,000	80,700,000	76,800,000	84,800,000	90,213,000	87,993,000	81,718,000	72,993,000	68,551,000	67,996,000	66,304,000	65,163,000	60,624,000
liabilities and equity
equity
total fortinet, inc. stockholders’ equity													-281,600,000	-634,700,000	-392,900,000	217,700,000	781,700,000	1,118,100,000
non-controlling interests														11,900,000	13,300,000	15,500,000	16,700,000	17,500,000
total equity													-281,600,000	-622,800,000	-379,600,000	233,200,000	798,400,000	1,135,600,000
total liabilities and equity													6,228,000,000	5,335,900,000	5,294,500,000	5,651,100,000	5,919,100,000	5,970,600,000
equity:
accumulated other comprehensive income																	-4,800,000	-1,200,000	-100,000	300,000	700,000	1,400,000	2,500,000	-3,100,000	1,100,000	1,100,000	900,000											153,000	724,000	294,000				226,000	-349,000	114,000	1,181,000	77,000	1,092,000	1,653,000	350,000	2,166,000	3,091,000	3,577,000	1,154,000	2,130,000	402,000	-4,000	3,184,000	2,756,000	576,000	1,191,000	1,084,000
accounts receivable—net of reserves for doubtful accounts of 1.2 million and 0.9 million at december 31, 2019 and 2018, respectively																									544,300,000
accounts receivable—net of reserves for doubtful accounts of 0.9 million at december 31, 2018 and net of reserves for sales returns and doubtful accounts of 14.5 million at december 31, 2017																													444,500,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 14,503 and 11,235 at december 31, 2017 and 2016, respectively																																	348,185,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 14,787 and 11,235 at september 30, 2017 and december 31, 2016, respectively																																		257,999,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 11,855 and 11,235 at june 30, 2017 and december 31, 2016, respectively																																			274,476,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 11,685 and 11,235 at march 31, 2017 and december 31, 2016, respectively																																				270,111,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 11,235 and 6,228 at december 31, 2016 and 2015, respectively																																					312,998,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 14,582 and 6,228 at september 30, 2016 and december 31, 2015, respectively																																						238,988,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 10,215 and 6,228 at june 30, 2016 and december 31, 2015, respectively																																							254,379,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 6,545 and 6,228 at march 31, 2016 and december 31, 2015, respectively																																								220,135,000
accounts receivable—net of reserves for sales returns and doubtful accounts of 6,228 and 6,204 at december 31, 2015 and 2014, respectively																																									259,563,000
accounts receivable—net of sales returns reserve and allowance for doubtful accounts of 5,488 and 6,204 as of september 30, 2015 and december 31, 2014, respectively																																										174,111,000
accounts receivable—net of sales returns reserve and allowance for doubtful accounts of 5,834 and 6,204 as of june 30, 2015 and december 31, 2014, respectively																																											176,849,000
accounts receivable—net of sales returns reserve and allowance for doubtful accounts of 4,882 and 6,204 as of march 31, 2015 and december 31, 2014, respectively																																												161,854,000
accounts receivable—net of sales returns reserve and allowance for doubtful accounts of 6,204 and 4,605 as of december 31, 2014 and december 31, 2013, respectively																																													184,741,000
deferred tax assets—non-current																																																30,058,000	30,058,000	51,996,000	61,764,000			50,393,000	46,003,000	46,523,000
deferred revenue—non-current																																																145,601,000	138,964,000	128,871,000	124,043,000	119,082,000	115,917,000	109,516,000	104,858,000	98,014,000	87,905,000	82,199,000	80,749,000	78,512,000	71,250,000	66,397,000	61,393,000
income taxes payable—non-current																																																32,860,000	30,208,000	30,568,000	32,628,000
treasury stock																																																			-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000	-2,995,000
goodwill and other intangible assets—net																																																		10,612,000	9,539,000	9,964,000
deferred tax asset																																																					13,663,000				7,578,000	14,330,000	13,704,000	8,175,000	12,572,000		9,652,000
deferred tax asset—non-current																																																					48,525,000				46,523,000	37,443,000	37,443,000	37,443,000	31,671,000	31,671,000	31,671,000
liabilities and stockholders' equity
stockholders' equity:
additional paid-in-capital																																																						388,632,000	356,438,000	341,096,000	317,026,000	292,440,000	277,823,000	263,394,000	227,587,000	208,596,000	204,268,000
total stockholders' equity																																																						478,469,000	426,644,000	398,327,000		316,867,000	287,520,000	258,092,000
total liabilities and stockholders' equity																																																						913,268,000	851,245,000	788,444,000		670,987,000	635,235,000	587,753,000
deferred cost of revenues																																																									2,140,000	2,369,000	2,687,000	3,168,000	4,022,000	3,958,000	3,951,000
other non-current liabilities																																																									21,624,000	20,254,000	20,677,000	15,225,000	2,871,000	2,836,000	2,803,000
inventory—net																																																										12,968,000	13,650,000	12,125,000
deferred tax asset—current																																																														9,662,000
deferred revenue—current																																																														145,140,000	140,537,000
convertible preferred stock, 0.001 par value — 40,500 shares authorized; 0 and 40,480 shares issued and outstanding at december 31, 2009 and december 28, 2008, respectively; liquidation preference of 0 and 95,400 at december 31, 2009 and december 28, 2008 , respectively

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-09-30	2010-06-30	2010-03-31

cash flows from operating activities:
net income	506,000,000	473,900,000	440,100,000	433,400,000	526,200,000	539,900,000	379,800,000	299,300,000	310,900,000	322,900,000	266,300,000	247,700,000	313,800,000	231,100,000	173,400,000	138,300,000	198,800,000	163,200,000	137,500,000	107,200,000	146,700,000	125,700,000	112,100,000	104,000,000	115,200,000	79,800,000	72,700,000	58,800,000	182,600,000	58,700,000	49,300,000	41,600,000	-28,961,000	26,610,000	23,033,000	10,717,000	25,166,000	6,291,000	4,159,000	-3,429,000	-2,534,000	8,169,000	792,000	1,560,000	6,813,000	4,056,000	6,081,000	8,393,000	12,016,000	11,029,000	8,979,000	12,249,000	21,507,000	17,206,000	13,950,000	14,173,000	16,494,000	17,917,000	14,494,000	13,587,000		6,869,000	4,218,000
adjustments to reconcile net income to net cash from operating activities:
stock-based compensation	72,500,000	71,800,000	69,100,000	66,100,000	65,800,000	65,900,000	63,900,000	62,300,000	63,400,000	64,300,000	65,000,000	56,300,000	54,700,000	54,700,000	54,700,000	53,200,000	53,100,000	52,700,000	52,600,000	49,500,000	48,700,000	49,300,000	48,900,000	44,800,000	43,700,000	42,400,000	45,000,000	43,000,000	42,600,000	43,200,000	40,600,000	36,500,000	34,454,000	34,307,000	35,091,000	33,331,000	32,081,000	31,093,000	28,368,000	30,881,000	28,087,000	26,476,000	21,645,000	18,880,000	16,681,000	14,667,000	14,716,000	12,930,000						8,830,000	7,852,000	7,246,000	6,341,000	5,734,000	3,870,000	3,070,000		2,264,000	2,148,000
amortization of deferred contract costs	90,300,000	86,000,000	82,000,000	78,000,000	75,400,000	73,600,000	72,700,000	72,000,000	70,400,000	68,000,000	65,400,000	62,500,000	59,500,000	56,700,000	54,600,000	52,500,000	49,000,000	45,100,000	42,100,000	39,700,000	37,600,000	35,300,000	33,200,000	31,300,000	29,400,000	27,500,000	25,900,000	25,100,000	24,600,000	23,100,000	22,400,000	20,800,000
depreciation and amortization	39,500,000	38,400,000	38,300,000	35,800,000	35,200,000	29,800,000	29,200,000	28,600,000	30,200,000	28,300,000	27,400,000	27,500,000	27,300,000	26,400,000	25,100,000	25,500,000	25,300,000	22,900,000	18,900,000	17,300,000	16,700,000	16,700,000	17,800,000	17,600,000	15,700,000	15,000,000	15,200,000	15,700,000	14,700,000	14,200,000	13,600,000	13,200,000	14,268,000	13,716,000	13,999,000	13,493,000	13,624,000	13,055,000	11,291,000	10,550,000	9,383,000	8,824,000	7,029,000	6,353,000	5,509,000	5,605,000	6,492,000	4,422,000	4,112,000	4,189,000	3,786,000	3,536,000	3,488,000	2,999,000	2,995,000	2,082,000	1,875,000	1,778,000	1,658,000	1,678,000		1,467,000	1,375,000
amortization of investment discounts	-6,400,000	-7,900,000	-9,100,000	-10,300,000		-12,400,000	-12,700,000	-12,200,000
other	400,000	-8,300,000	-9,300,000	-35,500,000	-11,900,000	-10,300,000	3,700,000	3,300,000	4,800,000	4,900,000	5,000,000	3,800,000	2,400,000	-1,600,000	14,400,000	8,400,000	3,500,000	4,100,000	-100,000	400,000	200,000	300,000	1,200,000	4,300,000	700,000	4,500,000	200,000	300,000
changes in operating assets and liabilities, net of impact of business combinations:
accounts receivable—net	-524,600,000	46,000,000	-41,200,000	303,900,000	-421,900,000	57,600,000	-86,700,000	405,600,000	-389,800,000	64,400,000	7,900,000	171,100,000	-294,000,000	-43,400,000	-134,700,000	15,400,000	-203,100,000	-5,000,000	53,100,000	82,500,000	-173,300,000	-47,600,000	-25,100,000	69,600,000	-157,200,000	19,000,000	-22,100,000	63,600,000	-120,000,000	9,100,000	-20,000,000	48,900,000	-89,902,000	13,545,000	-4,535,000	42,437,000	-70,663,000	10,766,000	-36,898,000	38,920,000	-87,387,000	11,400,000	-14,098,000	23,621,000	-69,028,000	10,912,000	-16,891,000	19,119,000	-22,669,000	1,390,000	-6,548,000	5,747,000	-17,800,000	5,509,000	-10,592,000	10,763,000	-19,687,000	-3,622,000	-946,000	1,009,000		-8,491,000	3,236,000
inventory	18,500,000	-29,500,000	-45,500,000	-34,100,000	26,300,000	19,700,000	48,700,000	36,500,000	-22,500,000	-100,800,000	-84,900,000	-45,300,000	-49,400,000	-28,500,000	-17,700,000	-13,500,000	100,000	600,000	-5,400,000	-14,700,000	-11,200,000	-13,100,000	-24,600,000	6,700,000	-23,300,000	-19,700,000	-2,900,000	-2,600,000	-14,400,000	-8,200,000	-3,500,000	-7,300,000	-8,264,000	7,935,000	13,297,000	-3,545,000	-18,468,000	-16,536,000	-7,492,000	-527,000	-6,661,000	-4,510,000	-1,621,000	-6,296,000	-21,364,000	-7,788,000	-6,633,000	3,326,000	-3,749,000	-14,969,000	-11,855,000	-4,520,000	3,674,000	-7,025,000	-4,543,000	-3,409,000				550,000		-2,975,000	-27,000
prepaid expenses and other current assets	-31,600,000	-32,200,000	-35,500,000	3,400,000	-4,700,000	3,300,000	-12,200,000	-100,000	1,700,000	6,100,000	-19,400,000	-16,000,000	-100,000	10,600,000	7,800,000	-26,000,000	-5,200,000	3,900,000	-3,000,000	-13,400,000	1,800,000	10,600,000	-2,300,000	-12,900,000	4,200,000	-900,000	500,000	-5,900,000	2,400,000	900,000	-300,000	1,200,000	2,873,000	-6,376,000	5,038,000	-8,261,000	-1,685,000	1,859,000	1,413,000	1,029,000	5,176,000	-4,314,000	-2,289,000	-1,203,000	-13,219,000	1,742,000	-4,236,000	-287,000	-1,126,000	462,000	-41,000	-202,000	862,000	81,000	178,000	-330,000	-2,136,000	-328,000	-971,000	-1,130,000		-1,005,000	-529,000
deferred contract costs	-143,700,000	-102,800,000	-111,200,000	-91,300,000	-98,900,000	-76,200,000	-69,500,000	-66,500,000	-106,000,000	-79,000,000	-87,300,000	-81,200,000	-97,200,000	-80,400,000	-74,000,000	-66,600,000	-93,500,000	-76,200,000	-69,600,000	-55,200,000	-61,200,000	-52,800,000	-48,100,000	-43,000,000	-49,200,000	-40,700,000	-39,500,000	-32,900,000	-37,600,000	-32,100,000	-34,200,000	-32,500,000
deferred tax assets	52,500,000	89,000,000	-45,300,000	-30,000,000	-35,600,000	-57,300,000	-56,400,000	-73,900,000	-80,200,000	-59,900,000	-80,700,000	-81,100,000	-54,400,000	-35,700,000	-48,700,000	-87,600,000	-2,100,000	-66,100,000	-10,600,000	-15,200,000	-14,900,000	-8,600,000	5,900,000	7,100,000	7,200,000	15,000,000	3,600,000	-8,000,000	-108,700,000	-5,800,000	-3,700,000	-9,600,000	57,957,000	2,243,000	-7,787,000	-16,589,000	7,183,000	-7,885,000	-13,979,000	-13,141,000	-1,554,000	-15,225,000	-5,154,000	-7,918,000	21,258,000	-5,716,000	-6,494,000	24,000					-4,739,000	-5,035,000	535,000	-15,000	-2,328,000	0	-5,529,000	-17,000		8,000	-10,000
other assets	-2,600,000	-1,900,000	-13,200,000	1,500,000	-2,200,000	-1,200,000	-1,400,000	-6,200,000	4,200,000	2,700,000	6,300,000	4,500,000	-21,400,000	2,800,000	3,900,000	-20,600,000	-3,300,000	-3,900,000	-7,000,000	-4,800,000	-2,600,000	-2,700,000	-200,000	900,000	-500,000	-3,200,000	2,300,000	100,000	-500,000	-2,600,000	200,000	-900,000	-641,000	-1,082,000	69,000	653,000	243,000	-186,000	-1,498,000	-911,000	931,000	249,000	-1,020,000	507,000	-1,143,000	-318,000	114,000	45,000	15,171,000	-1,486,000	-3,874,000	-8,568,000	585,000	944,000	372,000	569,000	-484,000	306,000	142,000	-1,904,000		-69,000	3,000
accounts payable	16,400,000	-35,300,000	22,200,000	24,600,000	21,800,000	35,200,000	-5,600,000	-61,600,000	-53,500,000	14,000,000	500,000	-4,100,000	26,600,000	25,900,000	17,200,000	35,500,000	-1,300,000	-2,300,000	2,900,000	-12,400,000	41,600,000	-13,900,000	18,700,000	-9,000,000	13,900,000	8,400,000	3,400,000	-18,000,000	19,500,000	4,200,000	4,500,000	-13,600,000	29,627,000	3,343,000	-11,593,000	-8,287,000	1,623,000	-1,454,000	11,296,000	-11,426,000	7,325,000	-1,459,000	2,922,000	-11,305,000	14,227,000	2,553,000	7,295,000	-6,042,000	-569,000	-3,201,000	9,298,000	4,957,000	-2,088,000	-1,288,000	10,656,000	-6,319,000	4,287,000	2,159,000	4,580,000	-4,225,000		2,857,000	-505,000
accrued liabilities	28,800,000	-5,800,000	-73,400,000	63,700,000	-34,400,000	-47,400,000	-129,900,000	105,000,000	80,500,000	45,500,000	-68,600,000	80,000,000	27,400,000	-2,300,000	-38,100,000	68,200,000	-27,100,000	55,700,000	24,100,000	-2,800,000	29,300,000	10,000,000	4,700,000	1,800,000	4,200,000	-800,000	-8,700,000	3,900,000	16,500,000	2,700,000	0	-4,700,000	6,393,000	6,297,000	-1,168,000	2,923,000	-3,808,000	7,024,000	-6,726,000	300,000	4,179,000	-3,068,000	3,222,000	-3,450,000	4,302,000	1,274,000	1,714,000	-170,000				-11,000	-2,361,000	1,959,000	661,000	42,000	-3,102,000	1,207,000	1,271,000	2,389,000		859,000	-576,000
accrued payroll and compensation	38,700,000	-6,600,000	31,100,000	-8,200,000		16,400,000	3,100,000	-27,400,000	31,400,000	-14,000,000	12,000,000	-6,000,000	28,200,000	3,600,000	6,800,000	-13,600,000	20,900,000	4,400,000	22,600,000	-3,900,000	23,600,000	10,600,000	7,100,000	1,800,000	6,800,000	-1,600,000	10,200,000	-18,100,000	12,100,000	-6,600,000	8,000,000	-10,000,000	16,098,000	-5,096,000	6,832,000	-5,267,000	12,443,000	-5,426,000	11,624,000	-2,945,000	13,196,000	-7,565,000	8,819,000	-3,149,000	5,184,000	-3,014,000	7,594,000	1,071,000	4,613,000	-887,000	4,703,000	-2,416,000	3,036,000	-1,556,000	3,666,000	-547,000	3,191,000	1,225,000	380,000	-23,000		1,847,000	839,000
deferred revenue	466,100,000	83,300,000	147,800,000	57,000,000	343,400,000	72,700,000	106,900,000	54,800,000	449,100,000	156,900,000	248,600,000	240,700,000	434,700,000	262,200,000	275,100,000	205,500,000	342,300,000	197,000,000	159,800,000	140,300,000	213,000,000	95,700,000	96,000,000	90,900,000	187,900,000	79,100,000	100,700,000	79,000,000	142,200,000	73,600,000	72,200,000	64,100,000	116,489,000	58,948,000	63,626,000	61,776,000	100,094,000	31,785,000	64,976,000	46,106,000	86,153,000	39,037,000	56,460,000	40,696,000	59,410,000	20,135,000	29,402,000	18,469,000	32,446,000	10,482,000	13,266,000	12,677,000	23,100,000	8,700,000	16,796,000	19,696,000	19,706,000	1,927,000	7,146,000	13,398,000		13,985,000	9,607,000
other liabilities	-600,000	-2,900,000	5,000,000	5,300,000	-8,800,000	-200,000	-3,600,000	4,300,000	-4,000,000	-8,000,000	-5,000,000	-4,700,000	24,000,000	-6,200,000	-5,600,000	11,300,000	2,500,000	-2,000,000	-1,400,000	200,000	-600,000	4,700,000	1,500,000	4,100,000	800,000	1,800,000	-1,900,000	-900,000	2,000,000	-600,000	-1,600,000	-600,000	-1,659,000	-1,153,000	-1,620,000	-1,057,000	-1,894,000	-261,000	-1,526,000	-1,332,000	3,248,000	652,000	-315,000	-1,569,000	-32,000	-1,025,000	-780,000	16,155,000						-543,000	-545,000	-273,000				3,623,000
net cash from operating activities	620,200,000	655,200,000	451,900,000	863,300,000	477,600,000	608,100,000	342,000,000	830,400,000	191,700,000	551,200,000	515,100,000	677,500,000	528,100,000	483,000,000	323,400,000	396,100,000	366,800,000	398,800,000	418,200,000	315,900,000	296,500,000	220,800,000	247,000,000	319,400,000	190,400,000	221,200,000	195,100,000	201,300,000	180,200,000	176,700,000	142,300,000	139,700,000	157,542,000	162,343,000	144,771,000	129,749,000	101,037,000	76,139,000	67,941,000	100,591,000	68,558,000	65,065,000	84,305,000	64,619,000	35,364,000	56,518,000	43,798,000	60,902,000	46,668,000	25,384,000	37,221,000	38,111,000	50,293,000	40,770,000	44,285,000	48,518,000	22,559,000	36,039,000	34,068,000	40,176,000		17,950,000	21,816,000
capital expenditures	-44,900,000	-79,400,000	-173,500,000	-41,400,000	-103,700,000	-30,200,000	-27,700,000	-194,300,000	-28,000,000	-67,400,000	-73,600,000	-11,500,000	-35,000,000	-83,900,000	-34,000,000	-107,100,000	-153,200,000	-78,700,000	-24,300,000	-17,800,000	-27,600,000	-33,900,000	-30,900,000	-1,700,000	-51,300,000	-7,300,000	-15,000,000	-2,600,000	-11,600,000	-20,800,000	-5,900,000	-8,000,000	-13,671,000	-35,352,000	-82,869,000	5,178,000	-17,031,000	-5,212,000	-14,669,000	-22,113,000	-718,000	-12,441,000	-11,542,000	-2,787,000	-6,830,000	-2,236,000	-9,704,000	-5,474,000	2,904,000	-2,867,000	-1,723,000	-790,000	0	-16,286,000	-2,339,000	-936,000	0	-1,158,000	-756,000	-469,000		-1,555,000	-442,000
free cash flows	575,300,000	575,800,000	278,400,000	821,900,000	373,900,000	577,900,000	314,300,000	636,100,000	163,700,000	483,800,000	441,500,000	666,000,000	493,100,000	399,100,000	289,400,000	289,000,000	213,600,000	320,100,000	393,900,000	298,100,000	268,900,000	186,900,000	216,100,000	317,700,000	139,100,000	213,900,000	180,100,000	198,700,000	168,600,000	155,900,000	136,400,000	131,700,000	143,871,000	126,991,000	61,902,000	134,927,000	84,006,000	70,927,000	53,272,000	78,478,000	67,840,000	52,624,000	72,763,000	61,832,000	28,534,000	54,282,000	34,094,000	55,428,000	49,572,000	22,517,000	35,498,000	37,321,000	50,293,000	24,484,000	41,946,000	47,582,000	22,559,000	34,881,000	33,312,000	39,707,000		16,395,000	21,374,000
cash flows from investing activities:
purchases of investments	-483,500,000	-536,100,000	-473,500,000	-503,000,000	-463,300,000	-511,000,000	-538,200,000	-436,100,000	-528,200,000	-523,000,000	-597,400,000	-207,200,000	0	0	-3,900,000	-385,200,000	-558,100,000	-487,400,000	-615,400,000	-647,100,000	-302,700,000	-377,000,000	-31,000,000	-368,300,000	-259,900,000	-324,300,000	-483,600,000	-264,500,000	-276,600,000	-142,900,000	-127,400,000	-134,900,000	-309,602,000	-89,106,000	-137,457,000	-133,006,000	-103,035,000	-139,718,000	-115,183,000	-115,672,000	-130,216,000	-100,208,000	-108,488,000	-120,991,000	-108,276,000					-144,095,000	-103,523,000	-171,506,000		-168,364,000	-162,458,000	-192,567,000
sales of investments	4,900,000	0	2,900,000	2,800,000					0				0	0	0	3,000,000	3,300,000	10,800,000	52,800,000	18,600,000	10,800,000	11,400,000	3,200,000	126,800,000	11,600,000	4,600,000	7,000,000	8,100,000	3,200,000	10,900,000	12,400,000	16,300,000	290,322,000	0	3,995,000	6,000,000	6,506,000	14,439,000	4,499,000	2,867,000	12,516,000	12,912,000	15,793,000	6,679,000	14,473,000	4,418,000	11,944,000	10,920,000	32,409,000	8,797,000	2,868,000	13,823,000	500,000	-18,487,000	26,839,000	17,416,000
maturities of investments	475,100,000	448,000,000	402,700,000	466,900,000	509,000,000	478,100,000	511,200,000	393,400,000	483,300,000	486,400,000	250,100,000	195,000,000	279,100,000	385,600,000	337,900,000	459,400,000	441,300,000	428,700,000	307,900,000	292,400,000	288,500,000	182,200,000	270,900,000	277,200,000	230,500,000	310,100,000	157,300,000	227,600,000	173,200,000	161,300,000	139,600,000	104,700,000	98,231,000	81,945,000	137,980,000	109,207,000	115,484,000	125,828,000	110,574,000	108,557,000	122,163,000	123,631,000	105,262,000	135,363,000	86,356,000	98,623,000	154,573,000	118,641,000	65,807,000	127,474,000	90,360,000	86,018,000	72,266,000	133,932,000	94,216,000	115,026,000
purchases of property and equipment	-42,800,000	-87,700,000	-167,800,000	-66,500,000	-97,600,000	-36,300,000	-23,100,000	-221,900,000	-26,900,000	-70,100,000	-76,800,000	-30,300,000	-30,900,000	-87,800,000	-39,900,000	-122,600,000	-151,300,000	-69,000,000	-23,500,000	-52,100,000	-32,300,000	-35,100,000	-30,900,000	-27,600,000	-47,200,000	-17,500,000	-17,300,000	-10,200,000	-11,600,000	-18,200,000	-11,600,000	-11,600,000	-13,671,000	-21,753,000	-86,362,000	-13,526,000	-16,863,000	-5,920,000	-14,443,000	-29,956,000	-8,345,000	-13,325,000	-10,761,000	-4,927,000	-5,395,000					-3,160,000	-2,035,000	-1,534,000		-16,428,000	-2,231,000	-1,624,000		-1,335,000	-756,000	-694,000		-1,215,000	-1,014,000
purchases of investments in privately held companies
payments made in connection with business combinations, net of cash acquired	0	0	-30,400,000	-11,200,000	-28,500,000												-1,500,000
purchases of marketable equity securities					0												0
net cash from investing activities	-46,300,000	-175,800,000	-266,200,000	-110,800,000	-79,900,000	-327,100,000	-50,100,000	-270,300,000	-71,600,000	-111,200,000	-424,100,000	-42,400,000	217,400,000	297,800,000	294,100,000	-45,400,000	-265,900,000	-307,500,000	-278,200,000	-473,500,000	-65,000,000	-224,600,000	212,200,000	4,600,000	-99,600,000	-27,100,000	-336,600,000	-39,000,000	-127,500,000	11,100,000	7,000,000	-25,500,000	65,280,000	-28,914,000	-81,844,000	-31,325,000	2,092,000	-6,798,000	-35,213,000	-34,204,000	-3,882,000	-15,015,000	1,806,000	16,124,000	-12,842,000	-8,209,000	-5,935,000	-2,364,000	-42,586,000	-12,634,000	-12,336,000	-79,178,000	-7,232,000	-69,546,000	-43,634,000	-62,299,000	-33,989,000	-52,950,000	-32,953,000	-46,934,000		-88,887,000	-60,972,000
cash flows from financing activities:
repurchase and retirement of common stock	-57,200,000	-1,831,500,000			0				-896,200,000				0	-500,000,000	-800,000,000	-691,200,000	-571,800,000	-78,400,000			-34,100,000	0	-156,100,000	-889,900,000	-27,500,000	-23,400,000	-33,800,000	-60,400,000	-94,700,000	0	-1,600,000	-115,500,000					-35,828,000	-25,000,000	0	-50,000,000					-5,742,000	-11,068,000	-14,862,000	-12,305,000
proceeds from issuance of common stock	7,100,000	6,300,000	11,100,000	20,200,000	23,400,000	20,100,000	6,200,000	13,400,000	7,800,000	6,700,000	8,100,000	21,200,000	4,400,000	5,800,000	4,900,000	11,000,000	5,300,000	4,900,000	5,900,000	9,900,000	3,900,000	2,500,000	8,300,000	7,400,000	7,700,000	2,200,000	5,000,000	34,600,000	4,900,000	24,900,000	11,600,000	45,100,000	14,033,000	20,004,000	12,317,000	29,515,000	2,569,000	19,320,000	5,187,000	17,785,000	3,771,000	20,896,000	13,692,000	28,955,000	14,795,000	18,011,000	8,047,000	14,471,000	1,114,000	8,880,000	1,126,000	14,464,000	2,081,000	18,356,000	4,099,000	13,551,000
taxes paid related to net share settlement of equity awards	-22,600,000	-26,700,000	-24,100,000	-52,900,000	-21,300,000	-16,500,000	-20,200,000	-42,900,000	-21,700,000	-31,100,000	-25,200,000	-34,500,000	-28,300,000	-32,200,000	-35,100,000	-64,800,000	-49,000,000	-42,900,000	-34,600,000	-41,400,000	-21,700,000	-27,600,000	-21,100,000	-37,800,000	-20,000,000	-19,500,000	-24,500,000	-32,000,000	-19,200,000	-15,500,000	-13,300,000	-19,200,000	-9,268,000	-9,974,000	-12,202,000	-13,693,000	-8,380,000	-12,528,000	-7,917,000	-9,441,000	-5,882,000	-11,627,000	-4,762,000	-6,600,000	-2,092,000	-2,985,000	-1,888,000	-3,633,000	-486,000
net cash from financing activities	-72,700,000	-1,851,900,000	-414,200,000	-32,700,000	-8,800,000	3,000,000	-14,000,000	-30,300,000	-910,100,000	-628,900,000	-17,700,000	-13,700,000	-27,400,000	-526,600,000	-830,300,000	-746,000,000	-633,600,000	-118,700,000	-120,900,000	956,000,000	-52,000,000	-30,300,000	-168,900,000	-920,400,000	-43,800,000	-40,700,000	-53,300,000	-57,800,000	-109,600,000	9,400,000	-12,800,000	-89,600,000	-317,612,000	-80,772,000	-33,039,000	15,822,000	-41,639,000	-18,208,000	-4,356,000	-41,656,000	-62,111,000	9,269,000	8,930,000	22,355,000	2,636,000	5,840,000	-6,839,000	-888,000	-32,431,000	8,524,000	1,567,000	15,917,000	4,539,000	22,809,000	6,937,000	15,871,000	16,515,000	7,572,000	7,635,000	8,075,000		14,012,000	1,309,000
effect of exchange rate changes on cash and cash equivalents	-1,600,000	-300,000	400,000	900,000	-2,300,000	2,100,000	-1,000,000	-1,400,000	1,100,000	-600,000	-1,200,000	-100,000	800,000	-200,000	-700,000	-300,000	-300,000
net increase in cash and cash equivalents	499,600,000	-1,372,800,000	-228,100,000	720,700,000	386,600,000	286,100,000	276,900,000	528,400,000	-788,900,000	-189,500,000	72,100,000	621,300,000	718,900,000	254,000,000	-213,500,000	-395,600,000	-533,000,000	-27,200,000	19,100,000	798,400,000	179,500,000			-596,400,000	47,000,000	153,400,000	-194,800,000	104,500,000	-56,900,000	197,200,000	136,500,000	24,600,000	-94,790,000	52,657,000	29,888,000	114,246,000	61,490,000	51,133,000	28,372,000	24,731,000	2,565,000	59,319,000	95,041,000	103,098,000	25,158,000	54,149,000	30,979,000	57,095,000	-28,673,000	21,078,000	26,084,000	-25,591,000	47,509,000	-5,760,000	6,443,000	2,793,000			9,038,000	2,122,000
cash and cash equivalents—beginning of year
cash and cash equivalents—end of year
supplemental disclosures of cash flow information:
cash paid for income taxes—net	117,600,000	69,900,000	237,200,000	26,800,000	155,900,000	139,800,000	252,100,000	31,100,000	341,400,000	26,300,000	37,900,000	20,700,000	62,600,000	68,500,000	110,300,000	18,800,000	57,500,000	21,600,000																					8,099,000	5,574,000	3,621,000	5,195,000	3,579,000	6,498,000	1,796,000	7,342,000	9,277,000	22,136,000
operating lease liabilities arising from obtaining right-of-use assets	16,800,000	10,200,000	17,600,000	6,700,000	9,900,000	7,800,000	6,600,000	15,000,000	4,900,000	7,000,000	2,600,000	4,700,000	29,600,000	5,400,000	6,200,000	24,600,000	8,600,000	9,900,000	11,300,000	9,800,000	8,100,000	8,800,000	3,500,000	2,400,000	7,800,000	7,700,000	1,400,000	3,500,000
non-cash investing and financing activities:
transfers of evaluation units and equipment from inventory to property and equipment	7,200,000	7,300,000	8,500,000	6,200,000	9,400,000
liability for purchase of property and equipment	-2,100,000	8,300,000	-5,700,000	25,100,000	-6,100,000	6,100,000	-4,600,000	27,600,000	-1,100,000	2,700,000	3,200,000	18,800,000	-4,100,000	3,900,000	5,900,000	15,500,000	-1,900,000	-9,700,000	-800,000	34,300,000	4,700,000	1,200,000												-13,599,000	3,493,000	18,704,000
excise tax payable on net stock repurchases
liability incurred in connection with business combinations
cash and cash equivalents—beginning of period		0	0	2,875,900,000		0	0	1,397,900,000		0	0	1,682,900,000		0	0	1,319,100,000		0	0	1,061,800,000		0	0	1,222,500,000		0	0	1,112,400,000		0	0	811,000,000		0	0	709,003,000		0	0	543,277,000		0	0	283,254,000		0	0	115,873,000		0	0	122,975,000		0	0	71,990,000		0	0	66,859,000		0	212,458,000
cash and cash equivalents—end of period		-1,372,800,000	-228,100,000	3,596,600,000		286,100,000	276,900,000	1,926,300,000		-189,500,000	72,100,000	2,304,200,000		254,000,000	-213,500,000	923,500,000		-27,200,000	19,100,000	1,860,200,000		-34,100,000	290,300,000	626,100,000		153,400,000	-194,800,000	1,216,900,000		197,200,000	136,500,000	835,600,000		52,657,000	29,888,000	823,249,000		51,133,000	28,372,000	568,008,000		59,319,000	95,041,000	386,352,000		54,149,000	30,979,000	172,968,000		21,078,000	26,084,000	97,384,000		-5,760,000	6,443,000	74,783,000		-11,389,000	9,038,000	68,981,000		-57,820,000	174,255,000
amortization of investment premiums									-11,600,000	-10,200,000	-5,600,000	-300,000	800,000	800,000	1,100,000	1,700,000	2,100,000	1,900,000	1,700,000	1,200,000	1,100,000	600,000	200,000	-600,000							100,000	100,000	417,000	678,000	474,000	973,000	952,000	1,034,000	1,297,000	1,497,000	1,687,000	1,889,000	1,943,000	1,938,000	2,023,000	1,928,000	2,239,000	2,513,000	2,734,000	3,011,000	2,838,000	3,051,000	2,960,000	3,474,000	3,273,000	3,255,000		3,217,000	3,030,000	3,261,000		1,623,000	1,090,000
loss from equity method investments					5,500,000	5,300,000	12,000,000	6,600,000
gain on bargain purchase					0
purchase of investment in privately held company																		-85,000,000	0	-75,000,000
liability incurred for repurchase of common stock																								10,000,000		3,000,000																				-354,000	76,000	657,000
changes in operating assets and liabilities, net of impact of business combination:
payment made in connection with a business combination, net of cash acquired							0	-5,700,000
transfers of evaluation units from inventory to property and equipment							5,500,000	6,500,000	7,300,000	8,700,000	8,900,000	6,900,000	4,000,000	6,200,000	4,000,000	2,900,000	1,300,000	4,300,000	5,200,000	5,100,000	6,100,000	4,600,000	3,900,000	6,300,000	4,800,000	6,400,000	5,600,000	4,300,000	5,400,000	5,700,000	5,600,000	4,900,000	4,724,000	5,168,000	5,406,000	5,681,000	5,442,000	4,178,000	4,778,000	6,671,000	3,700,000	4,772,000	5,054,000	3,869,000
proceeds from long-term borrowings, net of discount and underwriting fees																	0	0
payments for debt issuance costs																	0	0	-500,000	-1,900,000
payments of debt assumed in connection with business combination																	-17,300,000													0
loss from equity method investment										5,200,000	5,300,000	22,100,000	45,200,000	6,300,000	8,100,000	8,500,000	4,800,000
income taxes payable										39,900,000															-7,800,000	-2,700,000	-7,600,000	-700,000	2,000,000	5,200,000	-5,400,000	-7,800,000	7,792,000	6,954,000	9,779,000	4,983,000	6,348,000	1,326,000	72,000	5,391,000	6,619,000	3,720,000	4,238,000	5,795,000	79,000	13,137,000	1,433,000	-18,420,000	11,320,000	-137,000	7,034,000	4,305,000	12,416,000	10,106,000	1,857,000	3,886,000	12,551,000	8,587,000	10,176,000	4,650,000		2,170,000	1,363,000
investment in privately held company
finance lease liabilities arising from obtaining right-of-use assets
liability incurred in connection with business combination
liability for repurchase of common stock
liability incurred in connection with business acquisition																				500,000																													0				0	-199,000	0	400,000
purchases of investment in privately held company
cash paid to settle liability incurred for repurchase of common stock																									0	0	0	4,200,000
changes in operating assets and liabilities:
payments made in connection with business combination, net of cash acquired																			0	-10,300,000		-6,100,000	0	-3,100,000						0
proceeds from long-term debt, net of discount and underwriting fees																				989,400,000
changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business combinations:
payments of debt assumed in connection with business combinations
net decrease in cash and cash equivalents																																																														-57,820,000	-38,203,000
liability for purchase of property and equipment and asset retirement obligations																								25,900,000	-4,100,000	10,200,000	2,300,000	7,600,000		-2,600,000	5,700,000	3,600,000					-168,000	708,000	-226,000	7,843,000	7,627,000	884,000	-781,000	2,140,000	-1,435,000	-2,236,000
amortization of investment premiums, net of accretion of purchase discounts																										-1,700,000	-1,900,000	-1,100,000
other non-cash items—net																															100,000	300,000	601,000	1,474,000	236,000	1,469,000	-2,202,000	3,654,000	1,564,000	-372,000	710,000	790,000	1,732,000	159,000	339,000	252,000	3,616,000	-67,000
changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions:
payments made in connection with business acquisitions, net of cash acquired
payments of debt assumed in connection with business acquisitions
payments of debt assumed in connection with business acquisition																																					0	0
equity awards assumed in connection with business acquisition																																									0
payments made in connection with business acquisition, net of cash acquired																																						-1,427,000
repurchase of common stock																																		-90,802,000
payments made in connection with business acquisitions—net of cash acquired
effect of exchange rates on cash and cash equivalents																																													0	0	-45,000	-555,000	-324,000	-196,000	-368,000	-441,000	-91,000	207,000	-1,145,000	703,000	275,000	-2,050,000	288,000	805,000	1,564,000	-895,000	-356,000
cash paid for income taxes—net of refunds
excess tax benefit from stock-based compensation																																														-1,882,000	-1,864,000	-579,000
changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business acquisition:
payments made in connection with business acquisition—net of cash acquired
payments made in connection with acquisitions—net of cash acquired																																														0	0	-17,000
purchase of investments																																															-162,748,000	-120,590,000											-157,964,000	-129,695,000		-117,903,000	-73,903,000
purchase of property and equipment																																															-9,704,000	-11,318,000
purchase of property and equipment not yet paid																																																5,844,000	2,904,000	293,000	312,000	744,000								225,000		-340,000	572,000
stock-based compensation expense																																																	12,125,000	11,778,000	10,707,000	9,299,000
other non-cash items																																																	441,000	1,445,000	-385,000	-540,000	-12,000
payments made in connection with acquisitions, net of cash acquired																																																	0	-1,650,000	-6,000	-5,979,000
cash paid (refunded) for income taxes																																																						3,955,000	5,370,000	1,010,000		328,000	-250,000	-767,000
excess tax benefit from employee stock option plans																																																		-610,000	-441,000	-1,453,000			-2,838,000	-2,320,000	-10,565,000	-4,773,000	-3,376,000	-1,115,000		-2,857,000	-795,000
accrued and other liabilities																																																		2,888,000
cash paid for income taxes																																																		8,081,000	3,061,000	8,579,000
payments made in connection with acquisitions
change in restricted cash
offering costs paid in connection with initial public offering																																																														0	-872,000
cash paid (refunded) for taxes
excess tax benefit from employee stock option plan
payment made in connection with business acquisition																																																						-199,000	0	-550,000		0
non-cash investing activities:
purchases of property and equipment not yet paid																																																						142,000	-108,000	688,000		177,000
loss on disposal of fixed assets																																																							12,000	19,000	0
write-off of intangible assets
amortization of investment premiums, net of discounts
income tax benefit from release of valuation allowance
deferred cost of revenues																																																									629,000	1,212,000	601,000	1,375,000		-602,000	379,000
maturities and sales of investments																																																									76,646,000	67,836,000	128,390,000	83,455,000		30,231,000	13,945,000
payments made in connection with acquisition
proceeds from exercise of stock options and warrants																																																									5,950,000			6,960,000		11,155,000	1,386,000
proceeds from initial public offering
repurchase of convertible preferred shares
repurchase of common shares
accrued offering costs not yet paid
inventory—net																																																										-23,000
deferred settlement and other liabilities																																																										-506,000
deposits of restricted cash
proceeds from exercise of stock options
cash from operating activities
cash from investing activities
cash from financing activities
cash paid for taxes																																																															302,000
purchase of short-term investments
maturities and sales of short-term investments
payments made in connection with asset acquisition
proceeds from initial public offering, net of offering costs

Fortinet, Inc(NASDAQ:FTNT)

Fortinet, Inc
(NASDAQ:FTNT)