F5(US:FFIV)2021-04-29 20:22Financial Performance - F5's Q2FY21 revenue increased to $645.3 million, compared to $583.4 million in Q2FY20[7] - Software revenue grew by 20%[8, 10] - Systems revenue increased by 17%[8, 10] - Global Services revenue increased by 4%[8] - Non-GAAP gross margin was 83.4% in Q2FY21, compared to 84.9% in Q2FY20[15, 27] - Non-GAAP operating margin was 30.3% in Q2FY21, compared to 29.1% in Q2FY20[15, 28] - Non-GAAP diluted EPS was $2.50 in Q2FY21, compared to $2.23 in Q2FY20[17, 28] Revenue Mix and Geography - Software accounted for 21% of revenue in Q2FY21, with subscriptions making up 79% of that software revenue[11] - North America contributed 54% of total revenue with $346 million, EMEA 27% with $172 million, and APAC 20% with $127 million[12] - Revenue growth in North America was 15%, EMEA 16%, and APAC 6%[12] Capital Allocation - F5 initiated a $500 million accelerated share repurchase (ASR) program in Q2FY21[22] - Approximately $400 million of shares were retired during Q2FY21 under the ASR program[22]