The earnings call reflected a strong performance in Q1 with significant revenue growth across product lines, driven by robust software subscription growth and competitive displacements. The company is optimistic about AI opportunities and has raised its full-year guidance. However, there is some caution regarding potential revenue pull-forward and future expansion rates.

Company Guidance

During F5, Inc.'s first-quarter fiscal 2025 earnings call, the company reported impressive financial results with 11% total revenue growth, including a remarkable 20% increase in product revenue. The company's software revenue grew by 22%, driven by strong expansion in software subscriptions, while systems revenue saw an 18% uptick. Notably, F5 reported a non-GAAP EPS of $3.84, surpassing the high end of their guidance by $0.43. The quarter's success was attributed to a stable IT spending environment, increased technology refresh activity, and competitive displacements. Looking ahead, F5 anticipates Q2 revenue to range between $705 million and $725 million, implying a 5% growth at the midpoint. The company also raised its full-year FY2025 revenue growth expectations to 6%-7%, up from the initial 4%-5% guidance. Additionally, F5 forecasts a non-GAAP gross margin between 83% and 84%, and an EPS growth of 6.5%-8.5% for the fiscal year, reflecting strong expansion trends and a robust pipeline.

Record Revenue Growth

F5 delivered 11% total revenue growth, with product revenue growing by 20%. Software revenue increased by 22% and systems revenue by 18%, exceeding initial expectations.

Strong Software Subscription Growth

Software subscriptions exceeded expansion forecasts, contributing to a 22% software revenue growth, with 30% year-over-year increase in subscription-based software revenue.

Raised FY '25 Revenue Expectations

F5 raised FY '25 revenue growth expectations to 6% to 7%, up from 4% to 5%, reflecting Q1 outperformance and a strong pipeline for Q2.

Competitive Displacement Success

Achieved a record number of competitive displacements in Q1, including significant wins with a home improvement retailer and an American insurance provider.

AI Opportunities and Wins

F5 is witnessing growing momentum with AI opportunities, with notable wins in high-performance data delivery and AI application security, leveraging partnerships with companies like Nvidia.

---

F5 Networks (FFIV) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

FFIV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 29, 2025	2025 (Q2)	3.10 / -	2.91	―	―	―
Jan 28, 2025	2025 (Q1)	3.36 / 3.84	3.43	11.95% (+0.41)
Oct 28, 2024	2024 (Q4)	3.45 / 3.67	3.5	4.86% (+0.17)
Jul 29, 2024	2024 (Q3)	2.97 / 3.36	3.21	4.67% (+0.15)
Apr 29, 2024	2024 (Q2)	2.87 / 2.91	2.53	15.02% (+0.38)
Jan 29, 2024	2024 (Q1)	3.04 / 3.43	2.47	38.87% (+0.96)
Oct 24, 2023	2023 (Q4)	3.21 / 3.50	2.62	33.59% (+0.88)
Jul 24, 2023	2023 (Q3)	2.86 / 3.21	2.57	24.90% (+0.64)
Apr 19, 2023	2023 (Q2)	2.42 / 2.53	2.13	18.78% (+0.40)	―
Jan 24, 2023	2023 (Q1)	2.33 / 2.47	2.89	-14.53% (-0.42)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

FFIV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 28, 2025	$269.72	$300.46	+11.40%
Oct 28, 2024	$218.36	$240.33	+10.06%
Jul 29, 2024	$177.59	$200.66	+12.99%
Apr 29, 2024	$182.13	$165.31	-9.24%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---