F5 Reports Fourth Quarter and Fiscal Year 2024 Results with Strong Software Revenue Growth and Double-Digit Fiscal Year 2024 EPS Growth; Guides to Revenue Acceleration in Fiscal Year 2025; Board Authorizes Additional $1 Billion for Share Repurchases

Rhea-AI Summary

F5 (NASDAQ: FFIV) reported strong Q4 FY2024 results with revenue of $747 million, up 6% year-over-year, driven by 19% software revenue growth. For FY2024, total revenue reached $2.82 billion with software revenue growing 11%. The company achieved GAAP EPS of $9.55 for FY2024, up from $6.55 in FY2023, and non-GAAP EPS of $13.37, compared to $11.70 in FY2023. The Board authorized an additional $1 billion for share repurchases. Looking ahead, F5 expects 4-5% revenue growth and 5-7% non-GAAP EPS growth in FY2025.

Positive

• Q4 revenue increased 6% YoY to $747 million
• Software revenue grew 19% YoY in Q4
• FY2024 GAAP EPS increased 45.8% to $9.55
• Non-GAAP operating margin improved to 33.6% in FY2024 from 30.2% in FY2023
• Board authorized additional $1 billion for share repurchases
• Company guides 4-5% revenue growth for FY2025

Negative

• Systems revenue declined 3% YoY in Q4
• Systems revenue declined 20% YoY for full FY2024

Insights

Financial Analyst

F5's Q4 results showcase impressive performance with total revenue of $747 million, up 6% YoY. The standout metric is software revenue growth of 19%, reaching $228 million. The company's transformation from hardware to software-centric solutions is paying off, with expanding margins and strong profitability.

Key highlights include non-GAAP operating margin improvement to 34.4% and EPS growth to $3.67. The additional $1 billion share repurchase authorization signals management's confidence in future performance. The FY2025 guidance of 4-5% revenue growth and 5-7% EPS growth indicates sustained momentum.

Tech Industry Analyst

The strategic pivot to security and software solutions in hybrid multicloud environments has significantly expanded F5's market opportunity. The 11% annual software revenue growth demonstrates successful execution of this transformation. Despite a 20% decline in systems revenue, the higher-margin software business is more than compensating, driving overall profitability improvements.

The company's ability to maintain growth despite macro headwinds reflects strong product-market fit and essential nature of their solutions in modern IT infrastructure. The expanded $1.4 billion total share repurchase capacity provides meaningful shareholder return potential.

 

SEATTLE--(BUSINESS WIRE)-- F5, Inc. (NASDAQ: FFIV) today announced financial results for its fourth quarter and fiscal year ended September 30, 2024.

“Our fourth quarter revenue of $747 million reflects 6% growth year over year and includes a 19% increase in software revenue from the fourth quarter of fiscal year 2023,” said François Locoh-Donou, F5’s President and CEO. “In fiscal year 2024, despite a challenging macro backdrop to the start of the year, we achieved revenue at the high end of our guidance, surpassed our software growth expectations, and maintained rigorous operational discipline, culminating in double-digit earnings per share growth for the year.”

“Our results speak to the power of our portfolio and innovation, the strength of our operating model, and the resilience of our business,” continued Locoh-Donou. “In a relatively short period of time, we have substantially reshaped F5 from a hardware-centric, single-product company into a security and software leader in today’s hybrid multicloud world. Our transformation has redefined F5’s role beyond the data center, increasing our value to customers, diversifying our revenue, and expanding our total addressable market.”

Fourth Quarter Performance Summary

Fourth quarter fiscal year 2024 revenue totaled $747 million, compared with $707 million in the fourth quarter of fiscal year 2023. Software revenue of $228 million grew 19% from the year-ago period. Systems revenue of $130 million represented a decline of 3% from the prior year. Global services revenue of $388 million grew 2% from the year-ago period.

GAAP gross profit for the fourth quarter of fiscal year 2024 was $603 million, representing GAAP gross margin of 80.8%. This compares with GAAP gross profit of $566 million in the year-ago period, which represented GAAP gross margin of 80.1%. Non-GAAP gross profit for the fourth quarter of fiscal year 2024 was $619 million, representing non-GAAP gross margin of 83.0%. This compares with non-GAAP gross profit of $585 million in the year-ago period, which represented non-GAAP gross margin of 82.7%.

GAAP operating profit for the fourth quarter was $191 million, representing GAAP operating margin of 25.6%. This compares with GAAP operating profit of $172 million in the year-ago period, which represented GAAP operating margin of 24.3%. Non-GAAP operating profit for the period was $257 million, representing non-GAAP operating margin of 34.4%. This compares to non-GAAP operating profit of $240 million in the year-ago period, which represented non-GAAP operating margin of 33.9%.

GAAP net income for the fourth quarter of fiscal year 2024 was $165 million, or $2.80 per diluted share compared to $152 million, or $2.55 per diluted share, in the fourth quarter of fiscal year 2023. Non-GAAP net income for the fourth quarter of fiscal year 2024 was $217 million, or $3.67 per diluted share, compared to $209 million, or $3.50 per diluted share, in the fourth quarter of fiscal year 2023.

Fiscal Year 2024 Performance Summary

Fiscal year 2024 revenue totaled $2.82 billion, compared with $2.81 billion in fiscal year 2023. Software revenue of $735 million grew 11% from the year-ago period. Systems revenue of $537 million represented a decline of 20% from the prior year. Global services revenue of $1.54 billion grew 4% from the year-ago period.

GAAP gross profit for the fiscal year 2024 was $2.26 billion, representing GAAP gross margin of 80.2%. This compares with GAAP gross profit of $2.22 billion in the year-ago period, which represented GAAP gross margin of 78.9%. Non-GAAP gross profit for fiscal year 2024 was $2.33 billion, representing non-GAAP gross margin of 82.8%. This compares with non-GAAP gross profit of $2.29 billion in the year-ago period, which represented non-GAAP gross margin of 81.5%.

GAAP operating profit for fiscal year 2024 was $659 million, representing GAAP operating margin of 23.4%. This compares with GAAP operating profit of $473 million in the year-ago period, which represented GAAP operating margin of 16.8%. Non-GAAP operating profit for the period was $946 million, representing non-GAAP operating margin of 33.6%. This compares to non-GAAP operating profit of $850 million in the year-ago period, which represented non-GAAP operating margin of 30.2%.

GAAP net income for fiscal year 2024 was $567 million, or $9.55 per diluted share compared to $395 million, or $6.55 per diluted share, in fiscal year 2023. Non-GAAP net income for fiscal year 2024 was $794 million, or $13.37 per diluted share, compared to $705 million, or $11.70 per diluted share, in fiscal year 2023.

Performance Summary Tables

GAAP Measures										Non-GAAP Measures
($ in millions except EPS)	Q4 FY2024		Q4 FY2023		FY2024		FY2023			($ in millions except EPS)	Q4 FY2024		Q4 FY2023		FY2024		FY2023
Revenue	$	747	$	707	$	2,816	$	2,813
Gross profit	$	603	$	566	$	2,258	$	2,220		Gross profit	$	619	$	585	$	2,332	$	2,293
Gross margin		80.8%		80.1%		80.2%		78.9%		Gross margin		83.0%		82.7%		82.8%		81.5%
Operating profit	$	191	$	172	$	659	$	473		Operating profit	$	257	$	240	$	946	$	850
Operating margin		25.6%		24.3%		23.4%		16.8%		Operating margin		34.4%		33.9%		33.6%		30.2%
Net income	$	165	$	152	$	567	$	395		Net income	$	217	$	209	$	794	$	705
EPS	$	2.80	$	2.55	$	9.55	$	6.55		EPS	$	3.67	$	3.50	$	13.37	$	11.70

A reconciliation of GAAP to non-GAAP measures is included in the attached Consolidated Income Statements. Additional information about non-GAAP financial information is included in this release.

Business Outlook

For fiscal year 2025, F5 expects to deliver total revenue growth of 4% to 5%, and non-GAAP earnings per share growth of 5% to 7% over fiscal year 2024. On a tax-neutral basis, the midpoint of F5’s fiscal year 2025 non-GAAP earnings per share guidance reflects 10% growth year over year.

For the first quarter of fiscal year 2025, F5 expects to deliver revenue in the range of $705 million to $725 million, with non-GAAP earnings in the range of $3.29 to $3.41 per diluted share.

$1 Billion Authorized for Share Repurchases

F5 also announced today that its Board of Directors has authorized an additional $1 billion for its common stock repurchase program. This new authorization is incremental to the $422 million remaining in the existing program.

All forward-looking non-GAAP measures included in the Company’s business outlook exclude estimates for amortization of intangible assets, share-based compensation expenses, significant effects of tax legislation and judicial or administrative interpretation of tax regulations (including the impact of income tax reform), non-recurring income tax adjustments, valuation allowance on deferred tax assets, and the income tax effect of non-GAAP exclusions, and do not include the impact of any future acquisitions or divestitures, acquisition-related charges and write-downs, restructuring charges, facility exit costs, or other non-recurring charges that may occur in the period. F5 is unable to provide a reconciliation of non-GAAP earnings guidance measures to corresponding U.S. generally accepted accounting principles or GAAP measures on a forward-looking basis without unreasonable effort due to the overall high variability and low visibility of most of the foregoing items that have been excluded. Material changes to any one of these items could have a significant effect on our guidance and future GAAP results. Certain exclusions, such as amortization of intangible assets and share-based compensation expenses, are generally incurred each quarter, but the amounts have historically varied and may continue to vary significantly from quarter to quarter.

Live Webcast and Conference Call

F5 will host a live webcast to review its financial results and outlook today, October 28, 2024, at 4:30 pm ET. The live webcast is accessible from the investor relations page of F5.com. To participate in the live call via telephone in the U.S. and Canada, dial +1 (877) 407-0312. Outside the U.S. and Canada, dial +1 (201) 389-0899. Please call at least five minutes prior to the call start time. The webcast replay will be archived on the investor relations portion of F5’s website.

Forward Looking Statements

This press release contains forward-looking statements including, among other things, F5’s position as a security and software leader in today’s multicloud world, F5’s role beyond the data center, F5’s value to customers, , the Company’s future financial performance including revenue, earnings growth, future customer demand, and the performance and benefits of the Company's products. These, and other statements that are not historical facts, are forward-looking statements. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors. Such forward-looking statements involve risks and uncertainties, as well as assumptions and other factors that, if they do not fully materialize or prove correct, could cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to: customer acceptance of offerings; continued disruptions to the global supply chain resulting in inability to source required parts for F5’s products or the ability to only do so at greatly increased prices thereby impacting our revenues and/or margins; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; F5’s ability to successfully integrate acquired businesses’ products with F5 technologies; the ability of F5’s sales professionals and distribution partners to sell new solutions and service offerings; the timely development, introduction and acceptance of additional new products and features by F5 or its competitors; competitive factors, including but not limited to pricing pressures, industry consolidation, entry of new competitors into F5’s markets, and new product and marketing initiatives by our competitors; increased sales discounts; the business impact of the acquisitions and potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement of completion of acquisitions; uncertain global economic conditions which may result in reduced customer demand for our products and services and changes in customer payment patterns; litigation involving patents, intellectual property, shareholder and other matters, and governmental investigations; potential security flaws in the Company’s networks, products or services; cybersecurity attacks on its networks, products or services; natural catastrophic events; a pandemic or epidemic; F5’s ability to sustain, develop and effectively utilize distribution relationships; F5’s ability to attract, train and retain qualified product development, marketing, sales, professional services and customer support personnel; F5’s ability to expand in international markets; the unpredictability of F5’s sales cycle; the ability of F5 to execute on its share repurchase program including the timing of any repurchases; future prices of F5’s common stock; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission, including our most recent reports on Form 10-K and Form 10-Q and current reports on Form 8-K and other documents that we may file or furnish from time to time, which could cause actual results to vary from expectations. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in F5’s most recent reports on Forms 10-Q and 10-K as each may be amended from time to time. All forward-looking statements in this press release are based on information available as of the date hereof and qualified in their entirety by this cautionary statement. F5 assumes no obligation to revise or update these forward-looking statements.

GAAP to non-GAAP Reconciliation

F5’s management evaluates and makes operating decisions using various operating measures. These measures are generally based on the revenues of its products, services operations, and certain costs of those operations, such as cost of revenues, research and development, sales and marketing and general and administrative expenses. One such measure is GAAP net income excluding, as applicable, stock-based compensation, amortization, and impairment of purchased intangible assets, facility-exit costs, acquisition-related charges, net of taxes, restructuring charges, and certain non-recurring tax expenses and benefits, which is a non-GAAP financial measure under Section 101 of Regulation G under the Securities Exchange Act of 1934, as amended. This measure of non-GAAP net income is adjusted by the amount of additional taxes or tax benefit that the Company would accrue if it used non-GAAP results instead of GAAP results to calculate the Company’s tax liability.

The non-GAAP adjustments, and F5's basis for excluding them from non-GAAP financial measures, are outlined below:

Stock-based compensation. Stock-based compensation consists of expense for stock options, restricted stock, and employee stock purchases through the Company’s Employee Stock Purchase Plan. Although stock-based compensation is an important aspect of the compensation of F5’s employees and executives, management believes it is useful to exclude stock-based compensation expenses to better understand the long-term performance of the Company’s core business and to facilitate comparison of the Company’s results to those of peer companies.

Amortization and impairment of purchased intangible assets. Purchased intangible assets are amortized over their estimated useful lives, and generally cannot be changed or influenced by management after the acquisition. On a non-recurring basis, when certain events or circumstances are present, management may also be required to write down the carrying value of its purchased intangible assets and recognize impairment charges. Management does not believe these charges accurately reflect the performance of the Company’s ongoing operations; therefore, they are not considered by management in making operating decisions. However, investors should note that the use of intangible assets contributed to F5’s revenues earned during the periods presented and will contribute to F5’s future period revenues as well.

Facility-exit costs. F5 has incurred certain non-recurring right-of-use asset impairment charges, and other related recurring costs in connection with the exit of its leased facilities. These charges are not representative of the ongoing activity or costs to the business. As a result, these charges are being excluded to provide investors with a more comparable measure of costs associated with ongoing operations.

Acquisition-related charges, net. F5 does not acquire businesses on a predictable cycle and the terms and scope of each transaction can vary significantly and are unique to each transaction. F5 excludes acquisition-related charges from its non-GAAP financial measures to provide a useful comparison of the Company’s operating results to prior periods and to its peer companies. Acquisition-related charges consist of planning, execution and integration costs incurred directly as a result of an acquisition.

Restructuring charges. F5 has incurred restructuring charges that are included in its GAAP financial statements, primarily related to workforce reductions and costs associated with exiting facility-lease commitments. F5 excludes these items from its non-GAAP financial measures when evaluating its continuing business performance as such items vary significantly based on the magnitude of the restructuring action and do not reflect expected future operating expenses. In addition, these charges do not necessarily provide meaningful insight into the fundamentals of current or past operations of its business.

Management believes that non-GAAP net income per share provides useful supplemental information to management and investors regarding the performance of the Company’s core business operations and facilitates comparisons to the Company’s historical operating results. Although F5’s management finds this non-GAAP measure to be useful in evaluating the performance of the core business, management’s reliance on this measure is limited because items excluded from such measures could have a material effect on F5’s earnings and earnings per share calculated in accordance with GAAP. Therefore, F5’s management will use its non-GAAP earnings and earnings per share measures, in conjunction with GAAP earnings and earnings per share measures, to address these limitations when evaluating the performance of the Company’s core business. Investors should consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures in accordance with GAAP.

F5 believes that presenting its non-GAAP measures of earnings and earnings per share provides investors with an additional tool for evaluating the performance of the Company’s core business and is used by management in its own evaluation of the Company’s performance. Investors are encouraged to look at GAAP results as the best measure of financial performance. However, while the GAAP results are more complete, the Company provides investors these supplemental measures since, with reconciliation to GAAP, it may provide additional insight into the Company’s operational performance and financial results.

For reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section in our attached Condensed Consolidated Income Statements entitled “Non-GAAP Financial Measures.”

About F5

F5 is a multicloud application security and delivery company committed to bringing a better digital world to life.​​​​​​​ F5 partners with the world’s largest, most advanced organizations to secure every app — on premises, in the cloud, or at the edge. F5 enables businesses to continuously stay ahead of threats while delivering exceptional, secure digital experiences for their customers. For more information, go to f5.com. (NASDAQ: FFIV)

You can also follow @F5 on X (Twitter) or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies. F5 is a trademark, service mark, or tradename of F5, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.

SOURCE: F5, Inc.

F5, Inc
Consolidated Balance Sheets
(unaudited, in thousands)
	September 30,				September 30,
		2024				2023
Assets
Current assets
Cash and cash equivalents	$	1,074,602			$	797,163
Short-term investments		-				6,160
Accounts receivable, net of allowances of $4,585 and $3,561		389,024				454,832
Inventories		76,378				35,874
Other current assets		569,467				554,744
Total current assets		2,109,471				1,848,773
Property and equipment, net		150,943				170,422
Operating lease right-of-use assets		178,180				195,471
Long-term investments		8,580				5,068
Deferred tax assets		365,951				295,308
Goodwill		2,312,362				2,288,678
Other assets, net		487,517				444,613
Total assets	$	5,613,004			$	5,248,333
Liabilities and Shareholders’ Equity
Current liabilities
Accounts payable	$	67,894			$	63,315
Accrued liabilities		300,076				282,890
Deferred revenue		1,121,683				1,126,576
Total current liabilities		1,489,653				1,472,781
Deferred tax liabilities		7,179				4,637
Deferred revenue, long-term		676,276				648,545
Operating lease liabilities, long-term		215,785				239,565
Other long-term liabilities		94,733				82,573
Total long-term liabilities		993,973				975,320
Commitments and contingencies
Shareholders’ equity
Preferred stock, no par value; 10,000 shares authorized, no shares outstanding		-				-
Common stock, no par value; 200,000 shares authorized, 58,094 and 59,207
shares issued and outstanding		5,889				24,399
Accumulated other comprehensive loss		(20,912	)			(23,221	)
Retained earnings		3,144,401				2,799,054
Total shareholders' equity		3,129,378				2,800,232
Total liabilities and shareholders' equity	$	5,613,004			$	5,248,333

F5, Inc.
Consolidated Income Statements
(unaudited, in thousands, except per share amounts)
	Three Months Ended								Years Ended
	September 30,								September 30,
		2024				2023				2024				2023
Net revenues
Products	$	358,285			$	325,324			$	1,272,795			$	1,334,638
Services		388,389				381,650				1,543,325				1,478,531
Total		746,674				706,974				2,816,120				2,813,169
Cost of net revenues (1)(2)(3)(4)
Products		87,403				88,602				336,237				375,192
Services		56,317				52,362				221,410				218,116
Total		143,720				140,964				557,647				593,308
Gross profit		602,954				566,010				2,258,473				2,219,861
Operating expenses (1)(2)(3)(4)
Sales and marketing		217,002				204,832				832,279				878,215
Research and development		123,951				127,834				490,120				540,285
General and administrative		70,976				61,603				268,828				263,405
Restructuring charges		-				-				8,655				65,388
Total		411,929				394,269				1,599,882				1,747,293
Income from operations		191,025				171,741				658,591				472,568
Other income, net		12,489				3,085				36,874				13,420
Income before income taxes		203,514				174,826				695,465				485,988
Provision for income taxes		38,218				22,692				128,687				91,040
Net income	$	165,296			$	152,134			$	566,778			$	394,948
Net income per share - basic	$	2.83			$	2.57			$	9.65			$	6.59
Weighted average shares - basic		58,384				59,245				58,720				59,909
Net income per share - diluted	$	2.80			$	2.55			$	9.55			$	6.55
Weighted average shares - diluted		59,056				59,699				59,359				60,270
Non-GAAP Financial Measures
Net income as reported	$	165,296			$	152,134			$	566,778			$	394,948
Stock-based compensation expense		53,759				53,265				219,108				236,650
Amortization and impairment of purchased intangible assets		10,144				14,304				51,331				53,434
Facility-exit costs		1,439				1,560				3,509				6,626
Acquisiton-related charges		505				(1,073	)			4,352				15,036
Restructuring charges		-				-				8,655				65,388
Tax effects related to above items		(14,204	)			(11,421	)			(60,065	)			(66,758	)
Net income excluding stock-based compensation expense, amortization and impairment
of purchased intangible assets, facility-exit costs, acquisition-related charges,
restructuring charges, net of tax effects (non-GAAP) - diluted	$	216,939			$	208,769			$	793,668			$	705,324
Net income per share excluding stock-based compensation expense, amortization and
impairment of purchased intangible assets, facility-exit costs, acquisition-related charges,
restructuring charges, net of tax effects (non-GAAP) - diluted	$	3.67			$	3.50			$	13.37			$	11.70
Weighted average shares - diluted		59,056				59,699				59,359				60,270
(1) Includes stock-based compensation expense as follows:
Cost of net revenues	$	7,089			$	7,142			$	29,409			$	29,658
Sales and marketing		20,720				21,307				84,520				96,478
Research and development		13,981				15,888				60,264				69,416
General and administrative		11,969				8,928				44,915				41,098
	$	53,759			$	53,265			$	219,108			$	236,650
(2) Includes amortization and impairment of purchased intangible assets as follows:
Cost of net revenues	$	9,283			$	11,234			$	43,848			$	42,136
Sales and marketing		717				2,788				6,749				10,239
Research and development		93				63				375				63
General and administrative		51				219				359				996
	$	10,144			$	14,304			$	51,331			$	53,434
(3) Includes facility-exit costs as follows:
Cost of net revenues	$	141			$	152			$	372			$	653
Sales and marketing		451				505				1,442				2,135
Research and development		515				545				478				2,265
General and administrative		332				358				1,217				1,573
	$	1,439			$	1,560			$	3,509			$	6,626
(4) Includes acquisition-related charges as follows:
Cost of net revenues	$	-			$	32			$	20			$	244
Sales and marketing		-				155				72				2,668
Research and development		500				(1,296	)			1,328				4,035
General and administrative		5				36				2,932				8,089
	$	505			$	(1,073	)		$	4,352			$	15,036

F5, Inc.
Consolidated Statements of Cash Flows
(unaudited, in thousands)
	Years Ended
	September 30,
		2024				2023
Operating activities
Net income	$	566,778			$	394,948
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation		219,108				236,650
Depreciation and amortization		106,991				112,702
Non-cash operating lease costs		33,041				38,528
Deferred income taxes		(68,523	)			(108,521	)
Impairment of assets		-				3,455
Other		(962	)			1,372
Changes in operating assets and liabilities (excluding effects of the acquisition of businesses):
Accounts receivable		63,953				16,704
Inventories		(40,504	)			32,491
Other current assets		(14,038	)			(64,959	)
Other assets		(91,964	)			16,591
Accounts payable and accrued liabilities		40,368				(63,100	)
Deferred revenue		22,838				81,741
Lease liabilities		(44,667	)			(45,193	)
Net cash provided by operating activities		792,419				653,409
Investing activities
Purchases of investments		(2,100	)			(1,789	)
Maturities of investments		6,237				111,330
Sales of investments		-				16,085
Acquisition of businesses, net of cash acquired		(32,939	)			(35,049	)
Purchases of property and equipment		(30,412	)			(54,184	)
Net cash (used in) provided by investing activities		(59,214	)			36,393
Financing activities
Proceeds from the exercise of stock options and
purchases of stock under employee stock purchase plan		55,079				59,959
Payments for repurchase of common stock, including excise taxes paid		(500,558	)			(350,049	)
Payments on term debt agreement		-				(350,000	)
Taxes paid related to net share settlement of equity awards		(11,523	)			(13,209	)
Net cash used in financing activities		(457,002	)			(653,299	)
Net increase in cash, cash equivalents and restricted cash		276,203				36,503
Effect of exchange rate changes on cash, cash equivalents and restricted cash		1,302				2,125
Cash, cash equivalents and restricted cash, beginning of period		800,835				762,207
Cash, cash equivalents and restricted cash, end of period	$	1,078,340			$	800,835
Supplemental disclosures of cash flow information
Cash paid for taxes, net of refunds	$	181,635			$	191,569
Cash paid for amounts included in the measurement of lease liabilities		53,346				52,893
Cash paid for interest on long-term debt		-				2,970
Supplemental disclosures of non-cash activities
Right-of-use assets obtained in exchange for lease obligations	$	12,927			$	10,544

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241028710777/en/

Investors

Suzanne DuLong

+1 (206) 272-7049

s.dulong@f5.com

Media

Rob Gruening

+1 (206) 272-6208

r.gruening@f5.comm

Source: F5, Inc.

FAQ

What was F5's (FFIV) Q4 2024 revenue growth?

F5's Q4 2024 revenue grew 6% year-over-year to $747 million.

How much did F5's (FFIV) software revenue grow in Q4 2024?

F5's software revenue grew 19% year-over-year in Q4 2024.

What is F5's (FFIV) revenue guidance for fiscal year 2025?

F5 expects total revenue growth of 4% to 5% for fiscal year 2025.

How much did F5 (FFIV) authorize for share repurchases?

F5's Board authorized an additional $1 billion for share repurchases.