Fortinet Inc Analyst Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Hamza Fodderwala - Morgan Stanley - Analyst : Amaral Morgan Stanley. Thank you so much for your time today. Just two quick ones. Ken, about five years ago, you talked about how the edge was going to eat the cloud, right? I'm curious when you think about your SASE strategy, particularly the sovereign private SASE portfolio that you have. How is that differentiated relative to some of the what some of your competitors doing? And then secondly, for Keith, you talked about over 30% EBIT margin, three to five year target is that an average over four or three to five years, like in some, some years could have dipped below 30%. All right, thank you.

Question: Andy Nowinski - Wells Fargo Securities LLC - Analyst : Andy Nowinski, Wells Fargo. I just want to start with a clarification on end of sale versus end of life for the refresh cycle. I think Christian called it end of sale. And maybe on your earnings call, you talked about it as end of lifting some of those appliances. Meaning customers have to refresh, they won't be able to run the firewalls in 2026. So can you just clarify end of life? And did you announce an end of life on that prior refresh cycle?

Question: Andy Nowinski - Wells Fargo Securities LLC - Analyst : So you're not necessarily forcing an upgrade or a refresh next. Okay. Thank you. And then second question, just it sounds like SASE is really tightly integrated with the firewall. I mean, does that give you an advantage over competitors like Zscaler that do not have a firewall or don't have that captive firewall installed base to sell to. I'm just wondering really if your win rates have really changed against the vendors that don't have that firewall installed base.