Welcome to our dedicated page for F5 news (Ticker: FFIV), a resource for investors and traders seeking the latest updates and insights on F5 stock.
F5, Inc. (NASDAQ: FFIV) is a leading American technology company headquartered in Seattle, Washington. Established in 1996, F5 specializes in a range of services centered around application security, multi-cloud management, online fraud prevention, application delivery networking (ADN), application availability and performance, network security, and access & authorization. Initially known for its application delivery controller (ADC) technology, F5 has expanded its portfolio to include application layer solutions, automation, and security services.
As cyber threats like ransomware, data leaks, and DDoS attacks continue to escalate, F5 has continually evolved to address these challenges. The company serves a diverse clientele across three primary verticals: enterprises, service providers, and government entities. Notably, F5 is recognized as a market leader in the application delivery controller market, offering products that enhance security, application performance, and automation.
F5’s revenue is evenly split between its services and products business, although there is a growing trend toward product revenue due to increased software adoption. The company generates approximately 55% of its revenue from the Americas, 25% from EMEA, and 20% from the APAC and Japan regions. With a workforce of around 6,500 employees, F5 continues to drive innovation and growth.
Recent achievements highlight F5’s commitment to innovation and collaboration. For instance, F5 has partnered with Marvell Technology, Inc., and Arm to develop the first real-world use case example built on the Open Programmable Infrastructure (OPI) framework. This collaboration aims to enhance key infrastructure management services such as security, load balancing, and API gateways. This partnership underscores F5's role in pioneering solutions that improve web application security, performance, and reliability.
Moreover, F5 has also teamed up with Prompt Security to deliver a firewall for AI applications on F5 Distributed Cloud Services. This joint venture addresses the rising need to secure applications powered by Generative AI (GenAI), providing robust protection against new attack surfaces introduced by AI technologies.
F5’s continued efforts in securing digital experiences are vital as organizations increasingly adopt AI and multi-cloud environments. The company’s strategic collaborations and innovative solutions position it as a crucial player in the technology sector, committed to enabling secure, reliable, and optimized app and API experiences for its customers.
F5 (NASDAQ: FFIV) has announced its participation in two upcoming financial conferences. The company will present at the Piper Sandler Growth Frontiers Conference on Tuesday, September 10, 2024, at 12:00 p.m. ET, and at the Goldman Sachs Communacopia + Technology Conference on Wednesday, September 11, 2024, at 1:50 p.m. ET.
Both presentations will be webcast live and can be accessed through the Events & Presentations tab in the Investor Relations section of f5.com or via provided links. Archived versions of the webcasts will be available on F5's Investor Relations page for those unable to attend the live events.
F5 (NASDAQ: FFIV) has announced three new leadership roles to enhance agility, productivity, and AI innovation. Tom Fountain becomes Chief Operating Officer, responsible for operational velocity and company-wide execution. Chad Whalen is appointed Chief Revenue Officer, tasked with driving revenue growth and executing F5's land-and-expand strategy. Kunal Anand takes on the role of Chief Technology and AI Officer, overseeing F5's company-wide AI strategy.
These changes aim to set the stage for F5's next growth phase, focusing on rapid innovation and customer needs. Additionally, F5 has launched an external search to replace Kara Sprague, the current Executive VP and Chief Product Officer, who will be leaving in November 2024 to become CEO of a private technology company.
F5 (NASDAQ: FFIV) has announced a collaboration with Intel to enhance the security and delivery of AI services. The joint solution combines F5's NGINX Plus with Intel's OpenVINO toolkit and Infrastructure Processing Units (IPUs) to provide robust protection, scalability, and performance for AI inference.
Key features of this collaboration include:
- NGINX Plus managing traffic, ensuring high availability, and providing active health checks
- OpenVINO toolkit optimizing AI model inference
- Intel IPUs offloading infrastructure services to free up resources
- Enhanced security through SSL termination and mTLS encryption
This solution is particularly beneficial for edge applications, content delivery networks, and distributed microservices deployments. It aims to enable enterprises to securely deliver AI services with improved simplicity and performance at scale.
F5's 2024 Digital Enterprise Maturity Index report reveals critical insights into enterprise digital transformation efforts globally, highlighting the pivotal role of generative AI in driving digital maturity. Key findings include:
29% of organizations are considered 'doers' in digital transformation, up from 4% last year. 82% of 'doers' operate hybrid applications, indicating advanced AI integration. 97% of digitally mature organizations have adopted or plan to adopt Site Reliability Engineering practices. 92% of mature organizations have implemented zero trust principles.
The report emphasizes the importance of modernizing enterprise architectures, enhancing automation, and improving data management to leverage AI effectively. It categorizes organizations as 'doers', 'dabblers', and 'dawdlers' based on their digital transformation progress, providing a roadmap for achieving digital maturity in the era of AI-driven innovation.
F5 (NASDAQ: FFIV) reported strong Q3 FY2024 results, with revenue of $695 million at the top end of guidance. Software revenue grew 3% to $179 million, while systems revenue declined 16% to $130 million. Global services revenue increased 3% to $387 million. GAAP net income rose to $144 million ($2.44 per share), up from $89 million ($1.48 per share) in Q3 FY2023. Non-GAAP net income reached $199 million ($3.36 per share), compared to $194 million ($3.21 per share) last year.
F5 raised its FY2024 outlook, expecting revenue of approximately $2.8 billion and 12% non-GAAP EPS growth. The company's strong performance is driven by software growth, global services expansion, and operational discipline. F5 is positioning itself as a key partner for large enterprises modernizing IT infrastructure and preparing for AI integration at scale.
F5 (NASDAQ: FFIV) is reinforcing its leadership in multicloud networking through new technology partnerships and customer success stories. The multicloud networking market is projected to reach $10.16 billion by 2028. F5’s Distributed Cloud Services are designed to simplify and secure the connectivity of applications and APIs across various environments. Key partnerships with NetApp, Red Hat, and Console Connect enhance data mobility, security, and network reach, addressing enterprise challenges in multicloud environments. Customers like Ailos Cooperative, Grupo Élève, McGraw Hill, and the Scottish Government have successfully leveraged F5’s solutions to enhance security, performance, and management of their digital assets.
F5 (NASDAQ: FFIV) has announced it will release its third quarter fiscal year 2024 financial results on Monday, July 29, 2024, after market close.
The company will host a live webcast at 4:30 p.m. ET on the same day to discuss the results with investors and analysts.
The webcast can be accessed through the investor relations section of F5's website, with an audio-only version available via specified phone numbers for U.S., Canada, and international listeners.
The webcast will be recorded, and replays will be accessible via both the website and phone until July 30, 2024, using meeting ID 13747602.
F5 (NASDAQ: FFIV) released its 2024 State of AI Application Strategy Report, revealing that 75% of enterprises are adopting AI, despite 72% facing significant data quality issues and challenges in scaling data practices. The report underscores the critical role of data governance and security in successful AI deployment. Although generative AI is seen as an exciting trend, only 24% of organizations have implemented it at scale. Key hurdles include the high cost of compute (62%), model security (57%), and performance issues (55%). Additionally, 72% struggle with data quality, and 53% lack AI and data skillsets. Cybersecurity remains a principal concern, with 42% using or planning to use API security, 41% monitoring tools, 39% DDoS protection, and 38% bot protection.
F5 (NASDAQ: FFIV) has been recognized as a Leader in the 2024 Cloud WAAP CyberRisk Validation Report by SecureIQLab. The report highlights F5's Distributed Cloud WAAP for its superior security efficacy and operational efficiency compared to 12 other enterprise-class WAAP solutions. F5 scored a Complete Security Score of 98.54% and an Operational Efficiency Rating of 93%, ranking among the top performers. The solution provides effective integration of API discovery, OWASP API protection, DDoS, and bot mitigation, with a focus on AI-ready app and API security. F5 also achieved the 'Secure by Design' rating with a perfect score in the WAAP vulnerability assessment.
F5 (NASDAQ: FFIV) has announced its participation in the Bank of America Securities 2024 Global Technology Conference. The company's fireside chat will be webcast live at 2:20 p.m. ET on June 5, 2024. Interested parties can access the live webcast through F5’s Investor Relations section or via a provided link. An archived version will also be available post-event.
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