F5(US:FFIV)2025-10-27 20:17Revenue Growth - Fourth quarter revenue reached $810 million, an 8% increase year over year, driven by a 16% growth in product revenue and a 42% increase in systems revenue[3] - Fiscal year 2025 revenue totaled $3.09 billion, reflecting a 10% growth compared to $2.82 billion in fiscal year 2024[8] - F5's total net revenues for the three months ended September 30, 2025, were $810,090,000, representing a 8.5% increase from $746,674,000 in the same period of 2024[38] - Net revenues for Q3 2025 reached $810.09 million, a 8.5% increase from $746.67 million in Q3 2024[42] Profitability - GAAP net income for Q4 FY2025 was $190 million, or $3.26 per diluted share, compared to $165 million, or $2.80 per diluted share in Q4 FY2024[7] - Non-GAAP net income for FY2025 was $928 million, or $15.81 per diluted share, up from $794 million, or $13.37 per diluted share in FY2024[11] - Net income for the year ended September 30, 2025, was $692,380,000, up 22.2% from $566,778,000 in 2024[40] - Basic net income per share increased to $3.30 for the three months ended September 30, 2025, from $2.83 in the same period of 2024, reflecting a 16.6% growth[38] - GAAP net income for the quarter was $190.49 million, an increase from $165.30 million in Q3 2024[42] - Non-GAAP net income reached $256.64 million, up from $216.94 million year-over-year[42] - Diluted GAAP net income per share was $3.26, compared to $2.80 in the prior year[42] - Non-GAAP net income per share increased to $4.39 from $3.67 in Q3 2024[42] Operating Performance - GAAP gross profit for FY2025 was $2.51 billion, representing a GAAP gross margin of 81.4%, compared to 80.2% in FY2024[9] - Non-GAAP operating profit for FY2025 was $1.09 billion, with a non-GAAP operating margin of 35.2%, up from 33.6% in FY2024[10] - The gross profit for the three months ended September 30, 2025, was $666,209,000, compared to $602,954,000 for the same period in 2024, indicating a gross margin improvement[38] - GAAP gross profit was $666.21 million with a gross margin of 82.2%, compared to $602.95 million and 80.8% in the previous year[42] - Non-GAAP gross profit increased to $683.26 million, representing a gross margin of 84.3%, up from 83.0% in Q3 2024[42] - GAAP income from operations was $205.65 million, with an operating margin of 25.4%, slightly down from 25.6% in Q3 2024[42] - Non-GAAP income from operations rose to $299.37 million, achieving a 37.0% operating margin, compared to 34.4% in the same quarter last year[42] Future Guidance - The company anticipates total revenue growth of 0% to 4% for fiscal year 2026, with potential near-term disruptions in sales cycles due to a recent security incident[14] - For Q1 FY2026, revenue is guided to be between $730 million and $780 million, with non-GAAP earnings projected between $3.35 and $3.85 per diluted share[16] Cash and Assets - Cash and cash equivalents at the end of the period were $1,346,368,000, an increase from $1,078,340,000 at the beginning of the period[40] - Total assets as of September 30, 2025, were $6,319,492,000, compared to $5,613,004,000 as of September 30, 2024, marking a 12.5% increase[36] - F5's total current liabilities increased to $1,612,581,000 as of September 30, 2025, from $1,489,653,000 in 2024, representing an 8.2% rise[36] - The company incurred restructuring charges of $14,163,000 for the three months ended September 30, 2025, compared to no charges in the same period of 2024[38] - F5's cash provided by operating activities for the year ended September 30, 2025, was $949,666,000, an increase from $792,419,000 in 2024[40] - The company reported a deferred revenue of $1,213,226,000 for the three months ended September 30, 2025, up from $1,121,683,000 in the same period of 2024, indicating a 8.2% growth[36] Leadership Changes - F5's Board of Directors announced that CEO François Locoh-Donou will become Chairman of the Board effective March 2026[17] Security Measures - The company is committed to enhancing security measures across all business aspects following a recent security incident[3]