CLAIM #67338 · Fortinet Inc (FTNT) · 2022Q4 earnings call · Feb 7, 2023 · due Dec 31, 2023
“However, we expect cancellation rates to increase as our focus shifts to a mix of firewalls and network equipment.”
Keith Jensen · CFO
CANNOT_DETERMINE
resolved by a revision, graded at the moved level · official band 5 percent
Committed
we expect cancellation rates to increase as our focus shifts to a mix of firewalls and network equipment
Reported
This quarter, we are now suggesting it's in the low, low double digits.
In context
“Keith Jensen (Chief Financial Officer): While discussing directional comments, I can say that the backlog was up year-over-year but down quarter-over-quarter. However, we expect cancellation rates to increase as our focus shifts to a mix of firewalls and network equipment. Not all backlog converts into billings and revenue in 2023 due to cancellations.”
Verify independently
SEC filings for FTNT ↗ · Claim quote is verbatim from the 2022Q4 earnings call.