Fortinet, Inc. (FTNT) Bank of America 2026 Global Technology Conference June 2, 2026 1:40 PM EDT
Company Participants
Ken Xie – Co-Founder, Chairman & CEO
John Whittle – Chief Operating Officer
Conference Call Participants
Tal Liani – BofA Securities, Research Division
Presentation
Tal Liani
BofA Securities, Research Division
[Audio Gap] cybersecurity again. It’s very easy with Bank of America. Whenever someone leaves, they ask me to cover it. So I cover software and data centers and cybersecurity and networking. So one-man show, research.
But I’m very pleased. I know this space extremely well. I’ve been covering it for 15 years, almost 20 years. And I’m very pleased to host Ken Xie, CEO; and John Whittle, Chief Operating Officer. And we are going to speak about the fundamentals.
I want to talk about the quarter, but very little because I really want to focus on the fundamentals and what’s coming for the next few years. With this introduction, I’ll start with the quarter, Ken.
Question-and-Answer Session
Tal Liani
BofA Securities, Research Division
The quarter was unique because the numbers were very strong. The billing growth was 31%. Secure networking billing was 32% up. Unified SASE was up 31%. And the question is, what drives the growth, both of the secure networking as well as the new areas?
Ken Xie
Co-Founder, Chairman & CEO
Like I mentioned in the earnings, we see the AI actually accelerate what we call the convergence of networking and network security, especially within enterprise because AI definitely drive a lot of additional traffic whether AI agent or using some AI for certain application. Most enterprise still today, they only have this they call the perimeter security. Internally, they don’t deploy much network security, whether do the internal segmentation or protect some key server or certain departments, some data there. So that’s where we see the strongest
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