Record Q4 Revenue
F5 delivered a record Q4 with $747 million in revenues, up 6% year-over-year, exceeding the high end of the guidance range.
Strong Software Performance
Software revenue grew by 19% year-over-year, with subscription-based software revenue growing by 23%.
Increased Operating Margins
Q4 non-GAAP EPS was $3.67, which was $0.17 above the top end of the guidance range, highlighting improving operating margins.
Transformation to Software and Security Leader
F5 has transformed from a hardware-centric company to a software and security leader, with software now representing 58% of product revenue.
Strong Growth Outlook for FY '25
Revenue growth is expected to accelerate to 4%-5% in FY '25, with a projected earnings growth of 5%-7%.
Successful AI Initiatives
F5 announced a collaboration with NVIDIA to enhance AI infrastructure, with early deployments optimizing AI data ingestion and factory load balancing.
Significant Recurring Revenue
78% of total revenue came from subscription-based sources and maintenance, enhancing revenue visibility.