Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number 000-26041 F5, Inc. (Exact name of Registrant as specified in its charter) Washington 91-1714307 (State or other juri ...

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $707 million, reflecting a 1% year-over-year growth, with global services contributing 54% and product revenue 46% [85] - For FY '23, total revenue grew 4% to $2.8 billion, with global services revenue growing 7% to $1.5 billion and product revenue growing 1% to $1.3 billion [90] - GAAP net income for Q4 was $152 million or $2.55 per share, while non-GAAP net income was $209 million or $3.50 per share, exceeding guidance [88] - The company expects FY '24 revenue to be flat to down low-single-digits from FY '23, factoring in a $180 million revenue headwind from backlog fulfillment [128] Business Line Data and Key Metrics Changes - Software revenue grew 11% year-over-year to $191 million, with subscription-based revenue increasing 27% to $166 million, representing 87% of Q4 total software revenue [57] - Systems revenue declined 25% year-over-year to $134 million, reflecting lower backlog-related shipments and demand stabilization at lower levels [35] - Global services revenue grew 9% to $382 million, driven by high maintenance renewals and price increases [35] Market Data and Key Metrics Changes - Enterprise customers represented 72% of product bookings in Q4, while service providers accounted for 9% and government customers for 19% [58] - The company noted that North America has been more stable compared to Asia and European markets, with early signs of stabilization in enterprise demand [109] Company Strategy and Development Direction - The company is focused on transitioning its SaaS and managed services offerings, with a planned retirement of legacy offerings contributing to a $65 million revenue headwind [127] - The company aims to leverage its unique position in the market to deliver hybrid, multi-cloud solutions that simplify application and API deployment, security, and management [132] - The company expects to return to mid-single-digit revenue growth in FY '25, driven by application and API growth and the need for security solutions [130] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about early signs of stabilization in demand, particularly from enterprise customers, but acknowledged ongoing budget scrutiny [120] - The company anticipates continued customer spending caution into FY '24, with expectations for customers to begin reinvesting in application infrastructure [76] - Management highlighted the importance of their converging portfolio in addressing multi-cloud challenges faced by customers [103] Other Important Information - The company returned 58% of its annual free cash flow to shareholders through share repurchases [45] - The company ended FY '23 with approximately $922 million remaining on its share repurchase program [99] Q&A Session Summary Question: What are the headwinds from the transition in managed services? - The headwind from the transition is approximately $65 million, primarily from the retirement of the legacy Silverline managed services platform, with plans to migrate customers to Distributed Cloud [136] Question: What signs of stabilization are being observed? - Signs of stabilization include customers who have received hardware after delays in 2023 and are now ready to order again, particularly in the enterprise market [111] Question: How does the company view the hardware business moving forward? - The company expects a rebound in the hardware business in 2024, driven by a stronger hardware pipeline and improved close rates [118]

Forward-looking statements 2 ©2023 F5 In addition to financial information prepared in accordance with U.S. GAAP, this presentation also contains adjusted financial measures that we believe provide investors and management with supplemental information relating to operating performance and trends that facilitate comparisons between periods and with respect to projected information. These adjusted financial measures are non-GAAP and should be considered in addition to, but not as a substitute for, the inform ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 000-26041 F5, INC. (Exact name of registrant as specified in its charter) Washington 91-1714307 (State or other jurisdiction of incorporation or organization) ( ...

In addition to financial information prepared in accordance with U.S. GAAP, this presentation also contains adjusted financial measures that we believe provide investors and management with supplemental information relating to operating performance and trends that facilitate comparisons between periods and with respect to projected information. These adjusted financial measures are non-GAAP and should be considered in addition to, but not as a substitute for, the information prepared in accordance with U.S. ...

F5, Inc. (NASDAQ:FFIV) Q3 2023 Earnings Conference Call July 24, 2023 4:30 PM ET Company Participants Suzanne DuLong - VP, IR Francois Locoh-Donou - President & CEO Frank Pelzer - EVP & CFO Conference Call Participants Ray McDonough - Guggenheim Securities Samik Chatterjee - JPMorgan Simon Leopold - Raymond James James Fish - Piper Sandler Meta Marshall - Morgan Stanley Alexander Henderson - Needham & Company Michael Ng - Goldman Sachs Sebastien Naji - William Blair Operator Good afternoon, and welcome to t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-26041 F5, INC. (Exact name of registrant as specified in its charter) Washington 91-1714307 (State or other jurisdiction ...

This presentation contains forward-looking statements including, among other things, statements regarding F5's future financial performance including revenue, revenue growth, operating margins, earnings growth, planned stock repurchases, future customer demand and spending, markets, 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 cr ...

F5, Inc. (NASDAQ:FFIV) Q2 2023 Earnings Conference Call April 19, 2023 5:00 PM ET Company Participants Suzanne DuLong - Vice President, Investor Relations François Locoh-Donou - President and CEO Frank Pelzer - Executive Vice President and CFO Conference Call Participants Sami Badri - Credit Suisse Ray McDonough - Guggenheim Securities Tim Long - Barclays Samik Chatterjee - JPMorgan Simon Leopold - Raymond James Meta Marshall - Morgan Stanley James Fish - Piper Sandler Operator Good afternoon. And welcome t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-26041 F5, INC. (Exact name of registrant as specified in its charter) Washington 91-1714307 (State or other jurisdicti ...