“Based on this momentum, we are confident in our ability to become the #1 SASE market leader in the next few years.”

In context

“Ken Xie (Founder, Chairman and CEO): Thank you, Anthony. Thank you to everyone joining our call. We are pleased with our excellent third quarter performance driven by strong execution and broad-based demand across our organization. As we grow faster than the market in all three pillars of our business as shown on Slide 4. Billing and revenue both grew by 14% with a record third quarter operation margin of 37%. Unified SASE billing grew 19%, driven by FortiSASE billing growth of over 100%, making us one of the fastest-growing SASE leaders at scale. Our strong growth is driven by our key differentiated advantages. Fortinet is the only vendor to natively integrate next-gen firewall, SD-WAN, and SASE on a single operating system, FortiOS, with the flexibility to run both on-premise and in the cloud. This single OS integration allows customers to expand from our leading next-gen firewall and SD-WAN to SASE in minutes, providing a significant upsell opportunity within our large customer base. Our solution also enables sovereign SASE for service providers and large enterprises to deploy FortiSASE within their own data centers for data privacy. Additionally, Fortinet's investment in owned global cloud infrastructure, FortiCloud, delivers long-term security, performance, and cost benefits, reducing total cost of ownership by roughly one-third compared to our peers. This key advantage has led to our recognition as a leader in the 2025 Gartner Magic Quadrant for SASE platform, as shown on Slide 6. Our strong leadership position is reflected in customer adoption, with 15% of large enterprise customers now using FortiSASE, representing 55% growth as shown on Slide 10. Based on this momentum, we are confident in our ability to become the #1 SASE market leader in the next few years. In secure networking, billing growth is 10%, outperforming the overall secure networking market as we continue to gain market share. Fortinet is the #1 leader in firewall with a unit market share of over 50% and has the highest product revenue among our cybersecurity peers. Fortinet's leadership in firewall is enabled by FortiOS that integrates networking and security and is accelerated by our FortiASIC with significant secure computing power, enabling more functions and delivering 5x to 10x better performance than our competitors while lowering total cost of ownership and energy consumption. This security and performance advantage was further validated by Gartner as Fortinet was recognized as a leader in the inaugural Magic Quadrant for hybrid mesh firewall, where we ranked the highest in ability to execute. Building on this foundation, we recently launched the Secure AI data center solution, specifically designed for AI workloads, where we leverage our ASIC advantage, helping Fortinet capture a massive growth opportunity as customers scale AI globally. AI-driven SecOps was the fastest-growing pillar in the third quarter with billing growth of 33%. Fortinet's industry-leading AI patent portfolio of more than 500 issued AI patents powering over 20 AI-driven solutions offers the broadest and most integrated AI-driven secure operation portfolio in the industry. Fortinet's security leadership also extends to operational technology and cyber-physical system security, where our solutions provide deep visibility, advanced threat protection, and secure connectivity. Operational technology and critical infrastructure solutions are other significant growth drivers for Fortinet with over 30% billing growth. Lastly, as a result of the strong growth opportunities that lie ahead, we remain confident that we will continue to meet the Rule of 45 and continue to gain market share and outperform overall market growth in 2025, 2026, and beyond, consistent with our mid-term target provided at last year's Analyst Day. I would like to thank our employees, customers, partners, and suppliers worldwide for their continued support and hard work. I will now turn the call over to Christiane.”