F5, Inc. (FFIV) Earnings Call Transcripts

F5, Inc.'s Latest Earnings Call - Q3 FY2026

In Q3 FY 2026, F5, Inc. reported total revenue of $865 million, reflecting an 11% year-over-year growth, driven by a robust 19% increase in product revenue. Non-GAAP earnings per share reached $4.73, marking a 14% growth from the previous year. Management raised its full-year revenue growth guidance to approximately 9% to 10%, up from the prior estimate of 7% to 8%, signaling strong demand and favorable market conditions, particularly in hybrid multi-cloud adoption and AI-driven security solutions.

Reported metrics

Guidance from management

F5 expects Q4 revenue in the range of $870 million to $890 million, reflecting just under 9% year-over-year growth at the midpoint. The company anticipates FY '26 non-GAAP EPS in a range of $17.21 to $17.33, up from the prior range of $16.25 to $16.55.

What management said

Yes, thanks. So no, it doesn't have anything to do with backlog because we wouldn't have billings yet. We don't bill until we ship product. It's more to do with, as you said, the lag factor on the Service revenue and then we had a strong bookings quarter with new FCPs and so there's a portion of the FCP booking that gets deferred. So you get 2/3-or-so gets recognized upfront and the remainder gets deferred. And so th...

And then in terms of price realization, so there's -- we saw a modest contribution from price realization that was tied more to our discount governance. We've been pretty effective this year, continuing to improve our discounting over time. The adjustments that we've made to pass through some of the costs on components will be more of a contributor to our FY '27 revenue, but nothing that really hit our revenue in Q3.

What analysts pressed on

Analysts expressed concerns about the sustainability of growth in the systems segment and the potential for cyclical downturns post-refresh cycle. There were also inquiries regarding the impact of component costs on gross margins and the long-term trajectory of software revenue growth.

Main topics on the call

• Revenue Growth Acceleration — F5 achieved a total revenue of $865 million, with product revenue growing 19% year-over-year. CEO Francois Locoh-Donou stated, "We have now delivered 8 consecutive quarters of double-digit product growth," highlighting t...
• AI-Driven Demand — The company reported significant growth in AI-related offerings, with a 100% increase in AI security customers in Q3. Locoh-Donou noted, "Our cumulative total customer count for direct AI use cases grew 50% just in Q3," ...
• Guidance Revision — F5 raised its fiscal year 2026 revenue growth guidance to 9%-10%, up from 7%-8%. CFO Cooper Werner remarked, "Based on our strong Q3 results and our Q4 outlook, we now expect to finish FY '26 ahead of our prior guidance,...
• Geographic Revenue Variability — Revenue from the Americas grew 11% year-over-year, while APAC saw an 11% decline. CFO Werner explained, "The underlying demand growth has been healthy across all of our theaters," suggesting that the APAC decline was mor...

Read the full F5, Inc. transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 83 F5, Inc. earnings call transcripts on record, spanning January 27, 2020 to July 27, 2026. Based on this history, F5, Inc. reports quarterly. The most recent call on file is dated July 27, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

FFIV

Exchange

NasdaqGS

Country

US

Sector

Information Technology

Industry

Communications Equipment

Calls on record

83

First call

January 27, 2020

Most recent

July 27, 2026

Reporting cadence

quarterly