's (NASDAQ: FTNT) stock price rallied nearly 40% this year as the cybersecurity company impressed the bulls with its robust growth rates and rosy outlook. It expects its revenue to rise 23% to 24% in 2023, compared to its 32% growth in 2022, even as the macro headwinds force many companies to scrutinize their software spending.

Fortinet's growth rates are impressive for a 23-year-old company that went public back in 2009. Between 2012 and 2022, its revenue rose at a compound annual growth rate (CAGR) of 24% as its adjusted net income grew at a CAGR of 27%. A lot of that growth can be attributed to Fortinet's early mover's advantage in the market for "next-gen" firewalls, which upgrade traditional firewalls with network device filtering tools.

But today, let's dig deeper and discuss three other aspects of Fortinet's business that shrewd investors should be familiar with.

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Source Fool.com