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Actionable news in FTNT: Fortinet, Inc.,

Results of Operations and Financial

On October 27, 2015, Fortinet, Inc. issued a press release regarding its third quarter 2015 financial results (the Press Release).

The information in the Press Release and below shall not be deemed filed for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the

Exchange Act

), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

On July 8, 2015, we completed our previously-announced acquisition of all of the outstanding shares of Meru Networks, Inc. (Meru). Meru is a provider of Wi-Fi networking products and services. Cash payments, along with the estimated fair value of the earned restricted stock units assumed, resulte d in a preliminary purchase price of $41.8 million.

The below information is intended to supplement information in the section titled Financial Highlights for the Third Quarter of 2015 of the Press Release.

Billings (Non-GAAP)

We define billings as revenue recognized plus the change in deferred revenue from the beginning to the end of the period less any deferred revenue balances acquired from business combination(s) during the period, if any. We consider billings to be a useful metric for management and investors because billings drives deferred revenue, which...


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