Fortinetreason 04 of 4it makes it for less than anyone else canderived 2026-09-08accession 0001262039-26-000021
Operating margin was 33.7% during the three months ended June 30, 2026, compared to 28.1% in the same period last year.
Operating expenses as a percentage of revenue decreased by 6.0 percentage points during the three months ended June 30, 2026, compared to the same period last year, mainly because our revenue growth outpaced the growth in our personnel costs.
Headcount increased to 15,472 employees as of June 30, 2026, a 4% increase compared to 14,898 as of June 30, 2025.
Operating activities during the six months ended June 30, 2026 provided cash flows of $2.12 billion.
Free cash flow was calculated as net cash provided by operating activities minus purchases of property and equipment.
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It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
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the claims it rests on
“Operating margin was 33.7% during the three months ended June 30, 2026, compared to 28.1% in the same period last year.”
“Operating expenses as a percentage of revenue decreased by 6.0 percentage points during the three months ended June 30, 2026, compared to the same period last year, mainly because our revenue growth outpaced the growth in our personnel costs.”
“Headcount increased to 15,472 employees as of June 30, 2026, a 4% increase compared to 14,898 as of June 30, 2025.”
“Operating activities during the six months ended June 30, 2026 provided cash flows of $2.12 billion.”
“Free cash flow was calculated as net cash provided by operating activities minus purchases of property and equipment.”