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This statistic highlights Fortinet’s Revenue by Region, split across Asia Pacific, Europe, Middle East and Africa, United States, and Other Americas regions, reported on a quarterly basis from Q1 2016 onwards.
Fortinet’s Revenue by Region
|Region||Q3 2020||Q2 2021||Q3 2021||Revenue share in Q3 2021|
|Europe, Middle East and Africa||$243.30||$0.306||$0.323||37.30%|
(All figures are in billions, except percentages)
Fortinet’s total revenue decreased from $651.10 billion earned in Q3 2020 to $0.867 billion earned in Q3 2021, marking a decline of 99.8% on a year-on-year basis. Although it has grown by 8.23% compared to $0.801 billion earned in Q2 2021.
Fortinet’s Revenue is further bifurcated into the following regions:
It outsources the production of its security appliance goods to contract manufacturing associates and novel design manufacturing partners, including producers with facilities located in Taiwan, China, and other countries external to the United States such as Micro-Star, Wistron, Senao, ADLINK, and IBASE. Its reliance on its third-party manufacturers in Asia and other places reduces its control over the manufacturing course, exposing it to risks, including limited control over quality reassurance, costs, supply and timing, and possible taxes.
Fortinet’s revenue from the Asia Pacific region has declined by 99.85% from $135.40 earned in Q3 2020 to $0.194 billion earned in Q3 2021 on a year-on-year basis. It has however increased by 22.78% compared to $0.154 billion earned in Q2 2021. This region contributed 22.4% of the company’s total revenue.
Europe, the Middle East, and Africa
The EU has implemented the WEEE Directive, which necessitates electronic goods manufacturers to be accountable for the assortment, recycling, and treatment of such products. Although currently, the company’s EU international channel associates are responsible for the necessities of this directive as the trader of record in many European countries in which it sells its products, changes in the understanding of the regulations may lead it to incur expenses or else have supplementary regulatory requirements in the future to meet to fulfill with the provisions of this directive, or with any parallel laws adopted in other authorities.
The majority of Fortinet’s revenue is generated from Europe, the Middle East and Africa region have declined to account for 37.3% of the company’s revenue in Q3 2021, amounting to $0.323 billion. It declined by 99.86% compared to $243.30 billion earned in Q3 2020 and has increased by 5.55% compared to $0.306 billion earned in Q2 2021.
Fortinet is headquartered in the United States. It develops and trades intrusion prevention systems, such as physical firewalls, antivirus software, cyber security solutions, and endpoint security components. When the company supplies to the US government, it must manufacture in the United States and other expensive manufacturing locations, and it may not produce all products in these locations. Hence, a major part of producing and supplying takes part in the US.
In Q3 2021, Fortinet’s Revenue from the United States stood at $0.258 billion. It declined by 99.87% compared to $206 billion earned in Q3 2020 and has increased by 2.3% compared to $0.252 billion earned in Q2 2021. Revenue from the United States accounted for 29.8% of the company’s total revenue.
Other Americas consists of all the other areas where Fortinet Inc executes its operations.
Fortinet’s Revenue from other Americas regions stood at $0.092 billion in Q3 2021. It declined by compared to $66.40 billion earned in Q3 2020 and has increased by compared to $0.085 billion earned in Q2 2021. This region contributed 10.6% of the company’s total revenue.
About Fortinet Inc.
Fortinet is an American multinational corporation headquartered in Sunnyvale, California. It is an international leader in cyber security solutions delivered to a broad variety of organizations, including companies, communication service providers, government establishments, as well as small businesses. Its cyber security solutions are intended to provide extensive visibility and breakdown of the digital attack surface through our integrated Fortinet Security Fabric policy, which facilitates automated security, detection plus response.
In adding to its security solutions, its clientele may buy FortiGuard and other security subscription facilities to get threat intelligence informs and protection updates provided by FortiGuard Labs, FortiCare technical support facilities, and the assistance of Technical Account Managers, Resident Engineers, and professional service advisors for executions or preparation services. Fortinet’s stock goes by the ‘FTNT’ sign and is listed on the NASDAQ stock exchange.
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