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NSE7_EFW-6.0 test Format | NSE7_EFW-6.0 Course Contents | NSE7_EFW-6.0 Course Outline | NSE7_EFW-6.0 test Syllabus | NSE7_EFW-6.0 test Objectives


Exam series: NSE7_EFW-6.0
Number of questions: 30
Time allowed to complete: 60 minutes
Language: English and Japanese
Product version: FortiOS 6.0

The NSE 7 Network Security Architect designation recognizes your advanced skills ans ability to deploy, administer, and troubleshoot Fortinet security solutions. They recommend this course for network and security professionals who are involved in the design, administration, and support of security infrastructures using Fortinet solutions.

Program Requirements
You must successfully pass at least one of the NSE 7 exams:
Fortinet NSE 7 - Advanced Threat Protection
Fortinet NSE 7 - Enterprise Firewall
Fortinet NSE 7 - Secure Access
Fortinet NSE 7 - Cloud Security



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Fortinet 7 guide

Fortinet, inc (FTNT) Q2 2021 earnings call Transcript | NSE7_EFW-6.0 Cheatsheet and test Braindumps

a close up of a logo: Fortinet, inc (FTNT) Q2 2021 Earnings Call Transcript © offered through The Motley fool Fortinet, inc (FTNT) Q2 2021 earnings call Transcript

Fortinet, inc (NASDAQ: FTNT)

CONSTELLATION manufacturers, INC.

Q2 2021 profits name

Jul 29, 2021, four:30 p.m. ET

Contents:
  • prepared Remarks
  • Questions and solutions
  • call members
  • organized Remarks:

    Operator

    respectable day, and thanks for standing by means of, and welcome to the Fortinet 2d Quarter 2021 revenue name. at present, all contributors are in a pay attention-only mode. After the audio system' presentation there will be a query-and-reply session. [Operator Instructions] Please be advised that contemporary convention is being recorded. [Operator Instructions]

    i'd now want to hand the conference over to your speaker nowadays, Peter Salkowski, vp of Investor relations. Sir, please go ahead.

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    this text is a transcript of this conference call produced for The Motley idiot. whereas they strive for their foolish highest quality, there can be mistakes, omissions, or inaccuracies during this transcript. as with any their articles, The Motley idiot doesn't anticipate any accountability to your use of this content material, and they strongly encourage you to do your personal analysis, together with taking note of the name yourself and studying the company's SEC filings. Please see their terms and stipulations for extra details, including their mandatory Capitalized Disclaimers of liability.

    The Motley idiot recommends Fortinet. The Motley idiot has a disclosure coverage.

    Peter M. Salkowski ` -- vice chairman, Investor members of the family

    thank you, Katherine. good afternoon, everybody. here is Peter Salkowski, vice chairman of Investor family members at Fortinet. i'm comfortable to welcome every person to their call to focus on Fortinet's fiscal outcomes for the 2nd quarter of 2021, which we're hosting from inside of their new constructing. speakers on modern call are Ken Xie, Fortinet's Founder, Chairman and CEO; and Keith Jensen, their Chief financial Officer. here's a are living name that could be available for replay by way of webcast on the Investor members of the family web site.

    Ken will start their call by way of presenting a high-level perspective on their business. Keith will then assessment their financial and operating consequences for the 2nd quarter before featuring suggestions for the third quarter and updating the entire year. they will then open the demand questions. [Operator Instructions]

    before they start, i would like to remind every person that on modern call, they may be making forward-searching statements and these ahead-searching statements are subject to dangers and uncertainties, which could trigger exact consequences to differ materially from these projected. Please discuss with their SEC filings, in particular, the possibility factors in their most fresh form 10-okay and kind 10-Q for extra advice. All ahead-searching statements reflect their opinions most effective as of the date of this presentation, and they undertake no duty and especially disclaim any duty to update forward-looking statements.

    additionally, all references to economic metrics that they make on modern call are non-GAAP, except stated otherwise. Their GAAP consequences and GAAP to non-GAAP reconciliations is determined in their earnings press unlock and within the presentation that accompanies modern-day remarks, both of which can be posted on the Investor family members site. ultimately, all references to boom are on a yr-over-yr foundation until referred to in any other case.

    i will now turn the call over to Ken.

    Ken Xie -- Founder, Chairman of the Board, and Chief government Officer

    Thanks, Peter, and thank you to every person for joining state-of-the-art name to evaluation their amazing 2d quarter 2021 consequences. Billings elevated 35% to $961 million driven by way of strong execution and turned into the most fulfilling it has been when you consider that 2015. cozy SD-WAN money owed for 14% of second quarter billings. complete salary grew 30% to $801 million with product revenue up 41%. Product income increase turned into the optimum for nearly 10 years. Free money stream was $395 million, a quarterly record level. With strong enterprise momentum, they stay focused on growth.

    these days, they introduced expansion of their FortiCare FortiGuard protection features, adding a brand new safety provider referred to as FortiTrust. FortiTrust security service offer user-primarily based licensing that observe the consumer throughout the operations complete safety platform. This enable organizations to easily control and comfy purchase their network, endpoint and cloud, which traditionally has been siloed. initial carrier stage are being provided for zero-believe community entry and identity verification. They boost the latest FortiCare security functions, which cowl all Fortinet protection material product with equal stage of features to together with 24/7 technical assist and timely challenge resolution.

    moreover, FortiTrust safety provider has been great-tuned for different segments with delivered particular person capabilities for enterprise, bundle for industrial and the applications for SMB, leveraging business-leading risk intelligence from FortiCare Lab.

    FortiCare comfy provider offer market-main AI-enabled, secured potential that constantly alter coverage throughout the Fortinet security material. these days, they announced a new FortiGate 3500F the industries excessive-performance next-era firewall. They integrate uTrust newer entry and ransomware coverage, powered by using the Fortinet MG7 SBU the 7,500 app presents a standard six instances extra efficiency than different aggressive items in response to their protection compute studying. This makes a Fortinet app the most desirable insurance plan for top-speed internal network on base centers. They continue to see the momentum and adoption of their SD-WAN new trust me access and cloud options among the many, worlds largest service providers.

    In may, Fortinet become diagnosed as the winner of the Microsoft security consumer impact award. ultimate week, Fortinet became named Google class 2020 protection partner of the year, diagnosed for imaginative pondering, extraordinary consumer service and most fulfilling-in-classification use of their cloud items and features.

    before turning the call over to Keith, i want to thank their personnel, purchasers and companions global for their persisted help and tough work.

    Keith F. Jensen -- Chief fiscal Officer

    thank you, Ken. And so as to add to your comments, they should word that as within the prior quarter, billings increase, product income increase and total income increase, all accelerated sequentially. in reality, all three boom fees were at five-12 months Fortinet highs and product revenue increase was at its highest in over 9 years. ok, let's birth with a extra designated Q2 discussion with profits. complete profits of $801 million became up 30% pushed by means of business-leading product salary boom of 41%.

    The product earnings increase became broad-primarily based across geographies, FortiGate and non-FortiGate products and across use instances illustrating market acceptance and customer demand for their built-in single platform security material approach across client infrastructures. Their monetary approach comprises a Rule of forty objectives. They goal the full of the salary growth percent and operating margin to be at the least forty. in the second quarter, robust demand and execution drove this exact total to be a Rule of fifty five. FortiGate product earnings increase was forty%, whereas they proceed to peer mighty growth from their relaxed SD-WAN performance.

    nearly all of the increase was pushed with the aid of FortiGate earnings from different capabilities, which might be embedded in the FortiGate operating gadget. Non-FortiGate product income boom turned into over forty% for the 2d consecutive quarter and become pushed by way of from their built-in protection material products. One additional touch upon their product salary increase, the product profits boom become a mirrored image of their continued potent organic boom, and never the effect of a number of enormous deals, drawing down backlog, nor an ordinary variety of delayed transactions from the prior quarter or pulled into future periods.

    carrier profits of $503 million turned into up 24%. guide and linked features revenue of $230 million changed into up 26%, whereas safety subscription services revenue of $273 million was up 23%. moving to the mixture of FortiGate and non-FortiGate platform revenue, FortiGate product and features profits expanded 26%, driven by using very mighty demand for each department and excessive-conclusion FortiGate items.

    excessive-end products covered 10 MP7 powered FortiGate models, representing approximately 25% of excessive-conclusion FortiGate shipments. Their ASIC-pushed FortiGates supply consumers 5 times to 10 instances more computing energy than firewalls working on usual CPUs. The superior computing power creates further pace and potential to continue so as to add functionality to their working gadget, additional using their rate for efficiency capabilities.

    The aggregate of the ASIC competencies and the regular operating system across products can permit dealer consolidation, decreasing complete can charge of ownership and increasing automation. Non-FortiGate items and capabilities salary grew 39% and accounted for about 30% of complete income, up over two percentage points.The integrated protection textile incorporates a complete range, which closed -- reversal for all their fingers meeting in a while nowadays. so that you've bought an interior scoop on what Patrice goes to claim. They beginning again, if i may. Non-FortiGate products and services salary grew 39% and accounted for about 30% of complete revenue, up over two percent facets.

    The built-in safety textile contains an entire range of form elements and birth methods, together with genuine and virtual methods, including genuine and digital home equipment, cloud, SaaS and perpetual software, as well as hosted and nonhosted solutions. together, they deliver a number protection options and kind components, enabling built-in insurance plan for the hybrid environments and the expanding digital attack floor from community statistics facilities to endpoints to the cloud.

    Let's turn to profits by way of geo. The summary is on slide 5. earnings in EMEA multiplied 34%. The Americas salary elevated 29% and APAC posted income growth of 24%. The Product income increase for each the Americas and EMEA regions become over forty%.

    moving to billings. 2nd quarter billings were $961 million, up 35%. They noticed potent growth in each the FortiGate and non-FortiGate section of the protection fabric platform. The FortiGate segment delivered billings boom of over 30%, accounting for seventy one% of complete billings.

    As proven on slide 6, branch and high-conclusion FortiGates posted very robust billings increase. The non-FortiGate phase accounted for over 29% of complete billings and delivered billings boom of over forty five%, driving a two-point combine shift to non-FortiGate products and services. Given the persevered strong efficiency, they believe their non-FortiGate platform is on a tempo to be a $1 billion company this year. secure SD-WAN billings, represented 14% of complete billings and is a key performance for an built-in SASE answer.

    in terms of billings via geo, EMEA outperformed all geos, adopted via the Americas and APAC. Europe had a good quarter, and boom in the Americas became driven through the united states, which was up sequentially by using greater than 30 percent features. Latin the usa endured to recover from the pandemic-prompted slowdown, closing billings growth within the mid-20s for the 2nd consecutive quarter.The normal contract time period changed into about 28 months, up two months from the second quarter of 2020 and one month within the first quarter of 2021. offers over $1 million increased from fifty nine to seventy nine, and the pipeline for offers over $1 million continues to look good for the remainder of the yr. comfortable SD-WAN deals over $1 million elevated from 13 to 19.

    moving to global billings via trade verticals. Billings by way of vertical illustrate diversification in their company model and importantly, suggest the current probability landscape is driving security investments in industries that might also have traditionally shown lower funding stages. for example, the verticals which have historically no longer been in their exact five combined for billings increase of over 75%. carrier providers accounted for 14% of complete billings and had been up 25%.

    relocating again to the earnings commentary. Product profits increase of 41% drove a three element shift within the product and functions salary mix. And together with it, a gross margin reduce of a hundred and sixty groundwork features to 77.5%. Product gross margin improved 70 groundwork features to sixty one.7%. services gross margin diminished 160 groundwork elements to 86.9% with statistics center investments in FX accounting for roughly 100 foundation features of the impact. working margin of 25.four% become on the appropriate conclusion of the guidance latitude regardless of a 350 groundwork factor headwind from the gross margin decline, a weaker US dollar and multiplied go back and forth and advertising and marketing experience fees. They ended the quarter with a complete headcount of 9,043, an increase of 17%.

    moving to the remark of cash move summarized on slide 7 and 8. Free cash flow for the second quarter came in at a quarterly listing of $395 million, benefiting from potent profits boom, decent month one linearity and reduce capital charges. in the quarter, they repurchased about 455,000 shares of usual inventory for a complete charge of $92 million at a typical share fee of about $201. The final share repurchase authorization at the end of the second quarter became 921 million with the authorization set to expire on the end of February 2022. They ended the primary half of the year with complete cash and investments of $three.4 billion, a rise of $1.7 billion. The increase includes the proceeds from their $1 billion funding-grade debt issuance all over the first quarter of 2021.

    DSOs again to pre-pandemic ranges, reducing seven days 12 months-over-12 months and 15 days quarter-over-quarter to sixty six days. inventory returns increased to 2.7 times from 2.2 times, reflecting mighty product revenue in the quarter. Capital fees for the quarter had been $24 million, and they now have all started to move into the new Sunnyvale constructing. They estimate third quarter capital expenditures to be between $65 million and $75 million, which includes a $30 million price for the brand new campus constructing. They estimate 2021 capital expenses to be between $a hundred seventy five million and $200 million. With the acceleration of the increase and a little more understanding of the publish-pandemic work patterns, we're turning their consideration to reviewing their amenities footprint and the mandatory office and warehouse ability within the US and Canada. As they work through this procedure, it is viable that their estimated capital fees over the next few quarters will enhance as they prepare for the subsequent part of their growth.

    looking forward, their aim remains to balance boom and profitability. And given the growth opportunities that they trust lie forward, they continue to predict to tilt their bias inside this framework extra towards increase for as a minimum the next several quarters. The alternatives they see are supported by way of a robust pipeline, extended sales effectiveness, the transforming into success with a single integrated security platform approach and the convergence of security and networking, the response to the current threat atmosphere and their development efforts, which include continuing to invest in their ASIC skills, which allows a shared working device across the protection material platform drives their price for performance competencies, increase the skill so as to add facets and capabilities whereas holding fee elements.

    And now i will assessment their outlook for the third quarter, summarized on slide 9, which is discipline to disclaimers regarding ahead-searching advice that Peter offered initially of the call. For the third quarter, they expect billings within the range of $940 million to $960 million; profits within the range of $800 million to $815 million. Non-GAAP gross margin of 77.5% to 78.5%, non-GAAP working margin of 24.5% to 25.5%, which includes an estimated 200 foundation element headwind from overseas change and improved shuttle and advertising expenses.

    Non-GAAP salary per share of $0.90 to $0.ninety five, which assumes a share count number of between $169 million and $171 million. They expect a non-GAAP tax cost of 21%. With that, we're raising their 2021 tips and are expecting billings within the latitude of $3.870 billion to $3.920 billion, which the midpoint represents increase of approximately 26%. earnings within the range of $3.210 billion to $three.250 billion, which at the midpoint represents growth of approximately 24.5%.

    total provider profits in the latitude of $2.045 billion to $2.075 billion, which represents growth of approximately 23% and it implies full year product salary increase of about 28%. Non-GAAP gross margin of seventy seven% to 79%, non-GAAP operating margins of 25% to 27%, which includes an estimated 200 foundation factor headwind from international change and accelerated go back and forth and marketing expenses.

    Non-GAAP earnings per share of $3.75 to $3.90, which assumes a share count of between 168 million and one hundred seventy million. They predict their non-GAAP tax cost to be 21%. They predict money taxes to be about $ninety million. together with Ken, i would like to thank their companions, shoppers and the Fortinet group for all their complicated work, execution and miraculous success within the first half of 2021.

    i'll now hand the name again over to Peter for the mp;A session.

    Peter M. Salkowski ` -- vice chairman, Investor members of the family

    Thanks, Keith. Operator, Catherine, we're able to open the call for questions, please.

    Questions and solutions:

    Peter M. Salkowski ` -- vp, Investor relations

    [Operator Instructions] And their first question is from Brian Essex of Goldman Sachs. Please go ahead.

    Brian Essex -- Goldman Sachs -- Analyst

    incredible. thanks for taking the query and congratulations on the results. really pleasant set of results this quarter. possibly to beginning off, Ken, i know you have talked for years about not having exposure to firewall refresh cycles within your enterprise. might you might be unpack a bit bit the product profits performance? Are you beginning to see most likely some publicity to the refresh cycles of others? is that this greater rip and substitute infrastructure enhancements or expansions? possibly if you can maybe supply us a bit little bit of an understanding of what is happening behind the product profits increase this quarter?

    Ken Xie -- Founder, Chairman of the Board, and Chief executive Officer

    yes. Thanks, Brian. extraordinary query. I believe the business even if all over the pandemic or after the pandemic probably in some form of a structure altering. it be no longer the average border variety of firewall should be enough. You need to extend into the WAN facet like at ease SD-WAN and 5G and also inner has to do just like the inner segmentation, replacing the switch with at ease change and the Wi-Fi to avoid all this type of resin of sort of inner assault. So this is the place -- and additionally a consolidation also happening and additionally deserve to have an integrated like a different part of infrastructure to integrate together to supply protection to the whole attack from multi type of tech carrier insurance plan there. So this is the place they see it be a large exchange for the entire architecture of, a way to architect the new insurance policy structure to offer protection to the complete infrastructure safety there.

    So this is probably distinct than just refresh the typical firewall, however it's the new multiplied infrastructure should be -- have all coverage there. So it's what they see just like the product they announced today form of a hundred is extra go inside the high-speed network atmosphere to do all this variety of interior segmentation, within records core protection and all these type of things.

    after which also, they see very amazing growth, whether the CQS manufacturer and additionally the 5G world. it really is a lot of brand trial face working domestic solution there. it really is the place the unit growth doubtless even much sooner there. So they see the complete infrastructure being modified all ecall comfortable-driven networking beginning sort of greater undertake by using both enterprise and also a special kind of vertical.

    Brian Essex -- Goldman Sachs -- Analyst

    bought it. this is super effective. probably to follow up, carrier issuer was just a little decrease as a percent of revenue this quarter. I remember on the product revenue facet, within the excessive conclusion, you saw an awful lot stronger boom. but is that -- should still they feel about that segment, exceptionally to the extent that they may be promoting through for SASE otherwise you should be would becould very well be getting more desirable traction with OPAQ. How should they think about boom of the service company market? Is that still to come? Or is that a extra reliable type of mid-20s grower segment for you?

    Ken Xie -- Founder, Chairman of the Board, and Chief govt Officer

    seen a ramp-up stage, nonetheless within the early stage of ramp-up compared to final quarter, doubtless like down about 15%. This quarter, grew about 25%. So beginning ramp up, like i discussed, they are form of constructing infrastructure, no matter if for the 5G, SD-WAN or SASE, which they have a special method.

    Our SASE approach truly quite a unique probably very differentiated from different player. So we've a twin method. they are probably the just one working with carrier company to building their SASE. And at the same time, like the service earnings, they type of reduce the margin it's there also investing some on infrastructure if some customers do not need a provider issuer or wish to work with that directly, they also have a kind of SASE answer there, which additionally integrate with the DOS. internal for the DOS, they have got a constructing SASE trust network entry and a few other parts, or not it's additionally kind of a distinct the competitor.

    and finally, they additionally hope they will use an ASIC or a salary to add extra computing vigour to their variety of on-web site answer there. So it really is where they suppose it be a long-time period funding. but once they now have it, they now have a massive abilities compared to other rivals.

    Brian Essex -- Goldman Sachs -- Analyst

    this is beneficial colour. thank you very a lot and congrats again.

    Ken Xie -- Founder, Chairman of the Board, and Chief executive Officer

    thank you.

    Operator

    Our next query from Hamza Fodderwala of Morgan Stanley. You can also go forward

    Hamza Fodderwala -- Morgan Stanley -- Analyst

    Hamza Fodderwala>: good day, guys. thank you for taking my query. I had a comply with-up related to the prior query on one of the crucial drivers of product profits boom. So Ken, as your customers start coming again into the workplace or as they circulation into this more hybrid work atmosphere, you talked lots about these greater network transformation offers. i was questioning, what do you see the pipeline searching like for those bigger deals heading into the lower back half and past? And do you feel that one of the vital things that they noticed during the past 12 to 18 months is going to be an accelerant for those greater bigger infrastructure class offers?

    Ken Xie -- Founder, Chairman of the Board, and Chief executive Officer

    Yeah, they see the pipeline very effective for the greater multiple product deal, which like approach -- I imply, cowl diverse part of infrastructure. And additionally, the product salary boom like 41% is also the place robust, they think that their product is definitely distinctive than the common or some extra rivals using the CPU most effective.

    So they have the existing CPU for their trade, however also they developed ASIC within the final 21 years. identical to the product they introduced today, the 3500F in accordance with their calculation, they name at ease computing region foundation, for the same can charge, what is the characteristic efficiency compared to different opponents or industry standard.

    So we'll have a six more suitable performance in fact like -- because the computing vigour vent is large from their personal ASIC. So that is we're altering the landscape of just like the product or whether the network safety product or any other leveraged ASIC. This big computing energy gave us lots extra feature and stronger efficiency that can without difficulty replace lots of their competitors.

    at the identical time, they did see the enlargement to the addressable market, no matter if they will or domestic or variety of a cozy internal network interior the enterprise, inside facts core, which additionally drives loads of excessive-end product boom. So the high product percent also, they see doubtless relatively high, possibly the maximum within the last few quarters or even last few years.

    Hamza Fodderwala -- Morgan Stanley -- Analyst

    acquired it. that's constructive. and perhaps only a observe-up question for Keith or Ken. Keith, you outlined the operating margin within the returned half having about 200 groundwork features influence from FX.

    i used to be simply questioning, just on your spending plans around hiring, what you might be seeing there? it be absolutely very aggressive market for skill at the moment. and i'm wondering if it is been factored at all into your guide?

    Keith F. Jensen -- Chief fiscal Officer

    Yeah. I suppose they certainly pay attention to their recruiting and to their attrition quotes. I believe the metric that they gave turned into that their basic headcount improved 17%. i'd present that the sales headcount truly grew greatly more than that. So I do not -- I suppose that we're in somewhat of a candy spot and it form of pertains to what Ken turned into asserting in only a moment in the past in terms of the success that we're having.

    I believe you might read via to the excessive end FortiGate is probably being records center deployments and doubtless taking expertise of some rivals which are going through a refresh cycle. And on the identical time one of the department FortiGates, probably reflective of digital transformation, and that i believe the viewers of salespeople, take into account that and that they see the opportunities there.

    Hamza Fodderwala -- Morgan Stanley -- Analyst

    acquired it. thanks.

    Operator

    And sir their subsequent query from Sterling Auty of JPMorgan. You might also go ahead.

    Sterling Auty -- JPMorgan -- Analyst

    Yeah. Thanks guys. For my one question, I simply wanted to dive into, Keith, in your prepared remarks you made the comment that the majority of boom was driven with the aid of FortiGate, are pushed by way of FortiGate earnings from other capabilities embedded within the operating system.

    I puzzled if you could variety of peel again the onion there. What does that mean? And what capabilities had been you relating to that were in specific demand in the quarter?

    Keith F. Jensen -- Chief monetary Officer

    Yeah. I consider that they tried to make the factor in the past that the -- some people think in regards to the firewall somewhat simplistically, they likely track near 12 to fifteen different firewall use cases even if you wish to talk about micro segmentation, IPS, et cetera.

    All of those -- the totality of these -- the increase there changed into, contributed extra, in case you will, than SD-WAN. SD-WAN, itself still obviously contributed very properly at 14% of their complete billings, which probably puts us close to about 35% or probably fifty five% boom.

    So I think there is an extended checklist of issues that a firewall is used for. And they were very comfortable with the success that they noticed during that suite of choices.

    Ken Xie -- Founder, Chairman of the Board, and Chief government Officer

    additionally, exceptionally the FortiOS 7, we're building and nil have confidence community entry and constructing SASE there. They see very amazing interest in this enviornment, both from the provider provider or commercial enterprise on work-on-home solution there.

    Sterling Auty -- JPMorgan -- Analyst

    Understood. thanks.

    Keith F. Jensen -- Chief monetary Officer

    thank you.

    Operator

    Our subsequent query from Rob Owens of Piper Sandler. You may go ahead.

    Rob Owens -- Piper Sandler -- Analyst

    superb. thank you guys for taking my query. And following the lead of Mr. Auty, i'd like to ask one query. may you complicated a little bit on your commentary around some of these non-common verticals that are starting to tick up meaningfully in spend. is that this more onetime in nature or these verticals are only beginning to wake as much as one of the crucial protection considerations that we're memorizing about within the media every day. And to that and maybe you might comment a little bit round your OT success in your method there? Thanks.

    Keith F. Jensen -- Chief economic Officer

    Yeah. And Rob, I suppose you probably did a superb job of laying the entire dots to join there. They talked -- we're looking at industries or verticals comparable to manufacturing, transportation, power, utilities or what have you ever, and to look the dramatic growth that they noticed in that segment of the enterprise. now they have historically stated their right 5 financial features, executive, carrier company, tech and retail. and they've been very consistent about that 65%, 66%. but they saw a big shift this quarter to these others, and it turned into just the sheer increase that they saw on these others. And the element that you just alluded to, OT. OT carried out very, very strongly within the quarter. and i consider it really is in line with what they noticed with that vertical boom and people other verticals that I simply mentioned.

    Rob Owens -- Piper Sandler -- Analyst

    thanks very tons.

    Operator

    Our next question is from Shaul Eyal of Cowen and enterprise. You may additionally go ahead.

    Shaul Eyal -- Cowen and company -- Analyst

    thank you. also single query on my end. after they appear at the building up facet, income up that you simply printed, are you able to influence for us the combine between new logos and the latest put in base? Any qualitative color and dialogue will be appreciated?

    Keith F. Jensen -- Chief economic Officer

    Yeah. Shaul, it's Keith. New logos had been very effective within the quarter, probably up about 50% 12 months-over-12 months. and that i've given numbers during the past to type of suggest that 5,000 consumers that they had in the quarter, without doubt, a extremely robust quarter is going to be north of that. First part of the response. 2nd part of the response, you could now not continually expect to see that the new customers in the initial quarter could be massive contributors to earnings but somewhat contributors to income growth over a longer length of time. however there become a extremely robust performance from the brand new emblem section when it comes to customers that signed up with us within the quarter.

    Shaul Eyal -- Cowen and company -- Analyst

    thanks.

    Operator

    Our next query from Saket Kalia of Barclays. Please go forward.

    Saket Kalia -- Barclays -- Analyst

    okay. remarkable. hello, thanks for taking my question here. Ken, perhaps for you. You touched on this a bit bit on your prepared remarks, but can you simply speak a bit bit concerning the new pricing alternatives that you simply announced lately? above all, do you consider like there's demand for that per consumer pricing for kind of access to the broader FortiCare and FortiGuard portfolio? And what turned into sort of one of the early feedback as you perhaps demonstrated these alternatives?

    Ken Xie -- Founder, Chairman of the Board, and Chief executive Officer

    We do see, going forward, especially like make money working from home or remotely the producer training, that can cover numerous instruments, together with the mobile working personal device to work at home and additionally inner internal enterprise enterprise there like cover varied like now not simply the FortiGate as they go during the zeta community access, but also any other like a web or may also or every other application or type of part of infrastructure data middle, they want access. So it's per consumer license will make it a great deal more straightforward for the user, for the consumer to in fact the usage of the protection service in the multiple half infrastructure, carbon varied product there.

    So it truly is where they suppose here's also very essential and on right of the latest FortiCare, which cowl all the products we've and also the FortiGuard cover the product need a real-time update on the subscription, all these type of things there. So they do that for trust is probably the trend in the future, but still needs a while to ramp up specifically they see the Zero trust network access beginning to have an attractive quick increase probability, which they -- Forticare have all this constructing. And also the identity, a way to form of make sure the identity across multipart infrastructure and easily form of administration user, they do all this to service additionally kind of get very critical. Assuming some time to ramp up, however they do see there is an incredible increase prominent from the customer. that is also the purpose they launched this FortiTrust provider.

    Saket Kalia -- Barclays -- Analyst

    got it. thanks.

    Ken Xie -- Founder, Chairman of the Board, and Chief government Officer

    thanks.

    Operator

    Our subsequent questions are from Michael Turits of KeyBanc. Please go forward.

    Michael Turits -- KeyBanc -- Analyst

    hiya each person. first-class quarter, of path. I believe for each Keith and for Ken. a lot of people have been circling around and trying to consider the energy and the upside. however I bet i might like to just are attempting to compare the place the demand was closing 12 months throughout 2020 to where it is this yr and why it appears so a good deal more suitable? Has there been a shift say, from far off access focal point to greater breach? Or what has changed each qualitatively and quantitatively that we're seeing this acceleration?

    Ken Xie -- Founder, Chairman of the Board, and Chief govt Officer

    I believe last 12 months, they are probably extra like rush assisting something can make it working remotely. however this 12 months, they truly see the infrastructure to be working to be modified to greater assist in this long run. So it truly is the place they see lots of new infrastructure design and how to support no longer simply work remotely, however additionally at ease the whole infrastructure distinctive part of infrastructure from the WAN access to the internal segmentation and additionally even the 5G or SD-WAN or internal WiFi. So there's loads of secure architecture cover multiple ingredients of their product. or not it's a extremely strong interest. And also Keith outlined the OT some others is because of even if the 5G or TOT, additionally that part also somewhat potent.

    Keith F. Jensen -- Chief fiscal Officer

    yes, Michael, I feel i would trust Ken fully and maybe simply to add, if you suppose returned about Q2 2020 in particular, at the least for us, it was 1 / 4 that changed into characterized doubtless via loads of utility. They did very neatly with their utility within the second quarter final year. however on the flip facet, anything that requires somebody to be on-premise in a data center or taking up a huge deployment or section deployment or whatever thing like that. Q2 of closing 12 months definitely wasn't a whole lot of that. definitely, today, I consider it's a year later; or not it's a very, very different ambiance in that regard. and that i do think you are additionally seeing the risk atmosphere and issues like the OT part of the enterprise do very, very smartly.

    Michael Turits -- KeyBanc -- Analyst

    extremely good. Thanks guys.

    Operator

    Our next question from Jonathan Ho of William Blair. You may also ask your query.

    Jonathan Ho -- William Blair -- Analyst

    hi. good afternoon. I just desired to bear in mind, if you are running into any issues around the provide chain or expertise chipset shortages. And does this result in any skills have an effect on to your order cadences in any respect?

    Keith F. Jensen -- Chief financial Officer

    hi there Jonathan, i would like to say that we're completely immune to chip shortages and such, however I cannot say that. Yeah, I do feel that as they mentioned closing quarter, the fact that their stock turns of round two are advised that they have six months of inventory accessible.

    We do and some of the chip producers, we're pretty focused on a 52-week lead-time. I think I believe very, very respectable about how the manufacturing and operations crew performed within the 2nd quarter, and how they may be going about issues for the third quarter and for the rest of this 12 months.

    i would offer that as part of the forecasting technique and the counsel atmosphere technique, that has become a greater giant enter, if you will, into that technique and making certain that we've got accounted for it in terms of their estimates of any challenges that they may additionally have as they move in the course of the leisure of the year.

    Jonathan Ho -- William Blair -- Analyst

    thanks.

    Operator

    Our subsequent question is from Ben Bollin of Cleveland analysis. Sir, you may additionally go ahead.

    Ben Bollin -- Cleveland research -- Analyst

    Yeah. first rate afternoon each person. Thanks for taking my questions. Ken, historically, when there are intervals like this where you see accelerated purchase behavior and a bit little bit of a run on deliver, if you will.

    Inevitably, there's a little bit of a digestion duration after the reality as consumers learn the way to installation and eat what they simply bought. may you speak a little bit about how material within the broader firm, both in sales or the channel is addressing or thinking about that expertise chance into the long run?

    Ken Xie -- Founder, Chairman of the Board, and Chief executive Officer

    Yeah. basically further and further shoppers see the advantage of the fabric Fortinet material, which come diverse products in maid automate together. So it is also making the non-FortiGate increase faster than the FortiGate and should be over $1 billion can be over $1 billion this year.

    So it's customer by way of this varied product, most of them are already like even if they're a client or already check them on the part. and then, simply preserve increasing beyond what the preliminary buy there.

    So they do see the activity as tons stronger and the non-FortiGate additionally protecting boom an awful lot faster than the FortiGate, which retaining increasing from some thing the latest setting up base in the massive enterprise.

    that's also the Gartner forecast see the mixing, the consolidation starting sort of further and further crucial for this huge commercial enterprise. because to manage diverse items from diverse vendors is a a great deal better charge compared to like the platform strategy, that can varied items cover distinct half infrastructure, additionally integrate automate together with the Fortinet material product they now have.

    Keith F. Jensen -- Chief financial Officer

    Ben, it be Keith and to kind of build on Ken's comment, I consider the -- it really is the company approach, right? If they analyze their installed base with shoppers and notice how their adoption progresses in terms of the variety of material products that that they had, over what length of time, they might definitely expect that to proceed on.

    and then if you appear within the present quarter, the brand new consumers that they added, those are mostly -- these are purchasing firewalls, if you will, and perhaps one or two issues, if you will, from the cloth suite. but as they might are expecting them, because I take note they need to digest and set up the firewalls. but as they get -- as they get to understand and take into account their product and their integration approach more and more, that they will find a way to come returned in and sell them additional items and features as they go forward.

    Ben Bollin -- Cleveland research -- Analyst

    thank you.

    Operator

    And their next question from grey Powell of BTIG. You may now ask your query.

    grey Powell -- BTIG -- Analyst

    ok. exquisite. Thanks. yes. So i might want to stick to the subject of non-FortiGate and textile and cloud and simply form of the energy that you've got been seeing there. within cloth and cloud, what are like the biggest product components that have essentially the most momentum? after which how should still they consider about simply the sustainability of that demand longer term?

    Keith F. Jensen -- Chief monetary Officer

    The non-FortiGate, they have just about 30 products, many of the developed internally and so or not it's tremendous no longer surrender any one product because it's up and down quarterly and additionally fairly plenty all make a contribution sort of to the increase. They do not see anyone or two too an awful lot variety of in comparison to the others. So it is likely might be sometime later, they can delivery get simple task out.

    but at this stage, they do see -- it be also stylish on the consumer atmosphere, reckoning on the sales aiding like a few of them like to have an e-mail, they will with FortiGate some is a website, some is endpoint, some is sort of a network access handle or some sort of sandboxing and cloud product. or not it's fairly a wide cage of sort of even cowl all these like 2030 product. So it truly is the place or not it's very difficult to break out and then try to look the trend. but they do see that the typical message really consolidate, combine, automated strategy really has an immense advantage in comparison to their separate product come from distinct carriers.

    grey Powell -- BTIG -- Analyst

    bought it. it really is a good suggestion. thank you very lots and congratulations on the amazing outcomes.

    Keith F. Jensen -- Chief monetary Officer

    sure. thank you

    Operator

    [Operator Instructions] And their subsequent question from Adam Tindle of Raymond James. You may also now ask your question.

    Adam Tindle -- Raymond James -- Analyst

    k. i needed to ask a strategic question to Ken. You had record quarterly free money flow, so keeps doing a terrible job at managing that extra productive balance that you simply spoke of on the Analyst Day. but all joking aside, Ken, you might have received large liquidity attainable, each on the stability sheet and you'll think about lenders beating down your door. So in case you could double click on the important thing tech areas that you would trust to increase the value proposition. i would simply think about that SASE is accelerating. you might be the SD-WAN leader. as an example, a few of those relaxed internet gateway players within the deepest markets are more mature and would that be a neighborhood of consideration or some other key areas that you'd believe enhancing the price proposition inorganically? thank you.

    Ken Xie -- Founder, Chairman of the Board, and Chief govt Officer

    We're truly protecting carefully staring at out of the trade within the trade and also new know-how ever considering the fact that. but additionally, they need to maintain the innovation at the lifestyle they now have in the ultimate 21 years and additionally preserve the organic increase very amazing. I probably the money stage and the investment approach to Keith to cowl that.

    Keith F. Jensen -- Chief monetary Officer

    yes. I feel for us, I suggest, they study their R&D spending as a supply of funding, no longer a normal capital allocation, however they are -- have traditionally been a buy versus pardon me, a construct versus purchase a corporation, and that is to -- they suppose strongly in regards to the magnitude of getting the platform to be built-in. You do see us doing tuck-in acquisitions. from time to time it takes a bit bit longer to bring to market in all probability because the technologies are issues that they want to work with a little bit greater earlier than they carry them out. So I do not believe that's a shock.

    I do not know that, that precludes us from doing whatever bigger sooner or later, however we'll look at those opportunities as they arrive up. The carrying on with focal point can be finding the opportunities to rebalance the balance sheet with a little bit of and deploying one of the crucial money that they raised with debt providing, in all probability to repurchase some share buyback, if you will. And on the identical time, additionally, as they seem out for the subsequent three to 5 years, and they count on persisted growth, in all probability a little greater investment, if you will, in their facilities footprint.

    Adam Tindle -- Raymond James -- Analyst

    it truly is effective. thanks.

    Operator

    Our subsequent question from Irvin Liu of Evercore ISI. Sir, you might also go forward.

    Irvin Liu -- Evercore ISI

    hi. Thanks for letting me in. and i would also want to add my congratulations on the tremendous quarter. I had a question on SD-WAN. i was wondering in case you can most likely unpack one of the most drivers in the back of the persisted momentum right here. no matter if the existing hybrid work ambiance has been a contributor behind this electricity? and can you assist us understand what worker's regularly returning to workplaces ability for you?

    Keith F. Jensen -- Chief economic Officer

    Irving, respectable query. The SD-WAN, they still see very, very strong demand and additionally big abilities. The approach they now have built-in protection from their beginning and leverage the FortiGate has an incredible computing vigor a part of the FortiOS, FortiGate. They see a major competencies in comparison to every other competitor, even if the usage of the standard CPU or every other approach, which is complex to add any characteristic since the company vigour hassle from a good value CPU. So it truly is where they do accept as true with they will be the leader, the number 1 leader in SD-WAN space. If no longer now, basically might be soon. And SD-WAN offer sort of huge competencies like reliability, the cost saving in comparison to the typical networking protocol NPLs or another part.

    And also loads of service provider additionally beginning variety of more concentrated on the SD-WAN or 5G, any other half, which additionally type of see in their type of lengthy-term bigger photograph, they name at ease-driven networking, which will be compared to nowadays, all of the networking simply throughout the connection and the velocity and then the at ease network also deserve to seem to be an application, the content material, the gadget in the back of the user, at the back of an excellent diverse variety of location there. So this is the place they see how the variety of security feature and on good of networking has huge skills and which SD-WAN, the safety SD-WAN additionally only one part of it, however additionally the relaxed 5G and also inner at ease swap in cozy Wi-Fi, they do see a lot of potential to hold in protection cowl the complete infrastructure.

    Irvin Liu -- Evercore ISI

    acquired it. thank you.

    Keith F. Jensen -- Chief economic Officer

    thank you.

    Operator

    Our next question from Imtiaz Koujalgi of Guggenheim companions. Sir, you can also go ahead.

    Imtiaz Koujalgi -- Guggenheim companions -- Analyst

    whats up guys. Thanks for taking my query. I had a question on the connect of support and subscription to your accomplice this quarter because it feels like you had powerful momentum in product their amazing billings momentum also. It seems like the upside in product failed to lead to maybe variety of an identical upside in billings. become there a difference in product combine, which ended in change in connect price between subscription and assist this quarter?

    Keith F. Jensen -- Chief monetary Officer

    No. I feel they tune their attach costs and their renewal charges, if you will, within these bands. you could have considered at the analyst day of plus or minus 2%. and that i feel that they have been readily internal these bands. So there changed into nothing ordinary in that regard. I believe that the features billings in complete have been likely -- and if they go returned in verify, that is the surest quarter that they have had in four years. So I suppose -- I feel they consider respectable about both the functions and the product efficiency in the quarter.

    Imtiaz Koujalgi -- Guggenheim partners -- Analyst

    got it. And only one comply with-up. You gave us the mixture of billings between FortiGate and non-FortiGate, is that had the identical kind of combine you've got within the product line additionally. The 70-30 roughly, is that the mixture of non-FortiGate and FortiGate within the product line? Or is that combine distinctive for product?

    Keith F. Jensen -- Chief economic Officer

    sure. I do not need that number in front of me, however I would not have a purpose. I don't recall them being tremendously diverse they have now checked out them, and that i'm trying to recollect what they made within the script just a second ago when it comes to product earnings. sure. I consider they have now offered FortiGate product income growth in the script as well as non-FortiGate product boom. And they referred to they have been both FortiGate was forty% and non-FortiGate became over 40%.

    Ken Xie -- Founder, Chairman of the Board, and Chief government Officer

    these are increase charges. They have not given a breakdown by combine for both per product. They haven't given FortiGate product and non-FortiGate product as a mixture, they haven't given.

    Imtiaz Koujalgi -- Guggenheim companions -- Analyst

    bought it. Very useful. Thanks guys.

    Operator

    Our subsequent query is from Patrick Colville of Deutsche financial institution. You may additionally go forward.

    Patrick Colville -- Deutsche bank -- Analyst

    thank you so tons for taking my question. I suggest forty one% product boom is extremely extraordinary. I guess the question is we're fielding from buyers around the cyclicality or form of, I bet, whether it's secular growth. And so may you simply aid us have in mind where the onetime advantages because of contemporary hacks or cause some fresh activities or publish coronavirus that led to this kind of very powerful quantity? Or are you feeling that right here market, there are some secular dynamics that they should be privy to?

    Ken Xie -- Founder, Chairman of the Board, and Chief govt Officer

    sure, they do see loads of products starting to go into the -- lots of the new part of their infrastructure or type of a brand new area. And that has additionally, like Keith mentioned, besides the exact 5 vertical, they do see the other vertical develop quicker, a good deal faster than the accurate five vertical is the government service company, finance provider, education, high tech, anything like that. however's -- however also like among infrastructure, they do see like no matter if deploy on the WAN facet, on the some thing the smart city or another type of internal infrastructure within data middle or even work-from-home. there is a rather a wide form of like a purchasing pattern in comparison to earlier than.

    and that's also they do consider they eventually will drive the additional provider because as soon as the product profits go up and the user service earnings will come in later. And also plus the introduction of the brand new FortiTrust service they consider additionally add further layer of capabilities service for the longer term. it's basically not -- truly the less complicated like i mentioned prior, they see the trade of the security infrastructure. it be now not type of refresh or change the natural firewall, which additionally, now and again, need to be upgraded since the community has quicker and faster, however also increasing into the new infrastructure part and additionally type of a new enviornment or form of grow quicker than the typical scientific finance service or any other half.

    Keith F. Jensen -- Chief monetary Officer

    Yeah. i might simply add to Ken's comments. I feel it turned into 1 / 4 and it has been for ages now that they just saw a lot of tailwinds. The tailwinds protected whether it turned into SD-WAN or OT, for instance.

    The refresh opportunity, in case you will, is in reality an opportunity for us to assessment as an opportunity to displace the incumbents as compared to Fortinet that has 500,000 customers in 70 diverse firewall models. And they even nowadays, they announced a brand new firewall in their press liberate.

    it's not as if historically, you might have considered blips with us in terms of spikes from refresh. however on the flipside, probably the most opponents, the legacy players have a shorter record of consumers and a shorter listing of products. and perhaps you're no longer doing as neatly in Gartner Magic Quadrants as they are. So they view that as a chance. I do consider that different tailwinds that came into the quarter, they talked in regards to the verticals Ken outlined it again. And additionally after I analyze their consumer sizes, even if SMB all of the approach to the world 2000 did very, very well.

    I suppose one aspect that stood out for us was the mid-business or the business a part of the company. That came on very, very robust in the quarter as well. So I consider there become a protracted checklist of tailwinds for us that labored in their favor on that product income increase number.

    Ken Xie -- Founder, Chairman of the Board, and Chief executive Officer

    Yeah. also, the few, the reset introduction of the new product, the competing call advantage come from ASIC is bigger and bigger in comparison to different competitor, which not simplest helping like changing a few of their installation base, but additionally increasing the new area the inner network in high-speed atmosphere, however also has a tons greater characteristic beyond the natural network safety like their VPN like they mentioned, whether from zero-believe community access additionally more like SASE or other part like SD-WAN and the 5G safety, which not one of the typical firewall have.

    and that is the reason additionally what drives additional like sales on the product and additionally the future provider, which is not refresh in comparison to the usual firewall, which they should not have that feature or do not need the computing energy to preserve out additional feature of the latest efficiency stressful. So this is where they believe the approach we've leveraged ASIC power abilities and provides us additional characteristic and extra feature and further efficiency, much lower can charge and starting working quite neatly.

    Patrick Colville -- Deutsche bank -- Analyst

    outstanding. thank you so a whole lot.

    Keith F. Jensen -- Chief economic Officer

    thank you.

    Operator

    Our subsequent query is from Tal Liani of bank of the usa. You might also go ahead.

    Liani -- financial institution of the us -- Analyst

    hello exceptional. thanks. terrific, I are looking to focus on gross margin. If i am relevant, and if i'm not, or not it's not going to be the first time. but if i am proper, your gross margin had gone down about 140bps sequentially.

    and that i also checked it versus consensus. Its reduce -- 100bps than consensus this quarter, subsequent quarter and 200bps below consensus for the yr for the assistance, so -- do I even have a mistake in my calculation? Or if not, are you able to complicated on gross margin? Why is it reduce sequentially in the information?

    Keith F. Jensen -- Chief financial Officer

    Yeah, I suppose what you're seeing, Tal, is the combine shift, appropriate, the product combine shift versus the services mix shift. that you would be able to do some fairly essential math in the second quarter, and you'll get to -- if you have forty one% product revenue growth, or not it's 61%, sixty two% gross margin versus the services that is pretty steady at 23% and 88% gross margin.

    That 25% swing in gross margin. in the event you take that back and you look at a 20-point or 25-aspect over efficiency in product, it really works out to be almost one element, probably just a bit bit north of one factor on the gross margin line.

    Ken Xie -- Founder, Chairman of the Board, and Chief govt Officer

    Yeah. additionally, that you would be able to appear at the product gross margin line.

    Keith F. Jensen -- Chief monetary Officer

    sure. additionally, that you would be able to look at the product gross margin, they in reality better 12 months-over-yr. Even the can charge kind of boost, however they do enhance the product gross margin. And additionally, they do agree with with the product growth of 21%, they will have lots of future growth within the service. it really is additionally the motive they enhance the 4-tier and FortiGuard and FortiTrust, which they do consider we're holding -- making the long run -- I mean, the carrier starting to develop quicker going forward.

    Liani -- bank of the united states -- Analyst

    Is there any exchange in the pricing environment?

    Keith F. Jensen -- Chief monetary Officer

    there is no alternate in the discounting. Discounting for the quarter changed into neutral for us, if you will. we've taken definite steps as they seem to be ahead to some of the adjustments within the can charge structure that we're seeing from their suppliers. And we've taken certain steps when it comes to their own pricing going -- haven't in reality hit yet, however they will hit in time for once they in fact see those costs in their salary remark.

    Liani -- financial institution of the united states -- Analyst

    are you able to intricate on the final element? What does it mean? So do you are expecting the margins to say no? Or do you expect to boost fees in anticipation?

    Keith F. Jensen -- Chief financial Officer

    I don't predict -- I do not predict margins to say no, no, past what is going to turn up with the mix shift, in case you will, between products and services, appropriate? To the extent they continue to over perform within the product line the way they simply did, it be going to put force on the gross margin line. but keep in mind, the working margin got here in right at the high conclusion of the latitude. So I believe they successfully managed that. And it's certainly very consistent with what they foreshadowed earlier within the 12 months, where they talked about inside their framework, this become a yr through which they would tilt towards increase. They undoubtedly did that placing up 35% billings increase and forty one% product increase, and on the same time, delivering 25% working margin plus, correct?

    Ken Xie -- Founder, Chairman of the Board, and Chief government Officer

    We also did greater investment on the infrastructure, which is type of making the carrier income gross margin reduce a little bit, but additionally will aid sooner or later further provider are available in.

    Liani -- financial institution of america -- Analyst

    tremendous. thanks.

    Operator

    Our next question from Ittai Kidron of Oppenheimer. You may ask your question.

    Ittai Kidron -- Oppenheimer -- Analyst

    Thanks. And super results as smartly guys. Ken, i was hoping you type of -- you gave lots of extraordinary colour on the backdrop and what you're doing and the way you might be executing smartly in the box. but perhaps that you may tie it up also with the competitors discussion. possibly that you could kind of help us consider what you are seeing out of your opponents right now. And who do you see is most inclined for share loss? it's clear that you're going to proceed to gain share during this industry for the foreseeable future. however who do you see are -- is the more susceptible vendors here that are prone to see to you and others that bring to the desk what you can carry to the desk?

    Keith F. Jensen -- Chief fiscal Officer

    Go ahead.

    Ken Xie -- Founder, Chairman of the Board, and Chief government Officer

    And -- but they simply have some long-term techniques investment which supply us extra potential even if from the ASIC chip, which they begun to build 21 years in the past are starting building other part of material in the past are beginning building other a part of fabric product, which combine automate from day one compared to competitor more comfort acquisition makes it very tricky to do the integration and automation and preservation and biological boom there.

    however on the different side, they do see the certain market shift altering. They also wish to make an effort like their SASE method. they now have doubtless the most effective vendor working with a carrier issuer to peer their SASE want long-term good product for them at the identical time, building some infrastructure as any other factor combine within the FortiGate for the OS is a single OS product can cowl each the SASE access or any other half like SD-WAN security, making the product variety of a greater effortless for customers to deploy and seeing the huge ambiance, faster atmosphere, lots-lots more desirable, so, that as they proceed to have this type of lots of long-term strategy, and they do see the -- will supply us like a long-term improvement going forward.

    Ittai Kidron -- Oppenheimer -- Analyst

    Very good. Make experience. Thanks guys.

    Keith F. Jensen -- Chief economic Officer

    thank you.

    Operator

    speakers that could be their last query for this call. and i'll flip it again over to Peter Salkowski. Sir go forward.

    Peter M. Salkowski ` -- vp, Investor relations

    thanks, Catherine. i would want to thank everyone for becoming a member of the call nowadays. Fortinet may be attending the following investor -- virtual investor conferences all over the third quarter.

    We're doing the Oppenheimer convention on August 10th and KeyBanc on August 11th routine with displays might be webcast and people webcast hyperlinks are going to be up on their web page or definitely they're already up on their web site as of now.

    if you have any questions following this name, please feel free to reach out to me.

    With that, have a superb day. And take care, everyone.

    Operator

    [Operator Closing Remarks].

    period: sixty one minutes

    call individuals:

    Peter M. Salkowski ` -- vice president, Investor family members

    Ken Xie -- Founder, Chairman of the Board, and Chief executive Officer

    Keith F. Jensen -- Chief economic Officer

    Brian Essex -- Goldman Sachs -- Analyst

    Hamza Fodderwala -- Morgan Stanley -- Analyst

    Sterling Auty -- JPMorgan -- Analyst

    Rob Owens -- Piper Sandler -- Analyst

    Shaul Eyal -- Cowen and business -- Analyst

    Saket Kalia -- Barclays -- Analyst

    Michael Turits -- KeyBanc -- Analyst

    Jonathan Ho -- William Blair -- Analyst

    Ben Bollin -- Cleveland research -- Analyst

    gray Powell -- BTIG -- Analyst

    Adam Tindle -- Raymond James -- Analyst

    Irvin Liu -- Evercore ISI

    Imtiaz Koujalgi -- Guggenheim partners -- Analyst

    Patrick Colville -- Deutsche bank -- Analyst

    Liani -- bank of the usa -- Analyst

    Ittai Kidron -- Oppenheimer -- Analyst

    more FTNT evaluation

    All salary name transcripts

    AlphaStreet Logo © supplied via The Motley idiot AlphaStreet emblem


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