The earnings call highlighted strong financial performance and strategic innovations in AI and security, with increased guidance reflecting confidence in future growth. However, concerns about the macroeconomic environment and flat software revenue were noted as challenges.

Company Guidance

During the F5 Inc. Second Quarter Fiscal 2025 Financial Results Conference Call, the company provided several key insights and forward-looking guidance. F5 reported a total revenue growth of 7% for Q2, with product revenue up by 12% and systems revenue surging by 27%, although software revenue remained flat compared to the previous year. The non-GAAP EPS for Q2 was $3.42, reflecting an 18% year-over-year growth and exceeding the top end of the guidance range by $0.28. Looking ahead, F5 expects Q3 revenue between $740 million to $760 million, suggesting approximately 8% growth at the midpoint. For the full fiscal year 2025, the company raised its revenue growth guidance to a range of 6.5% to 7.5%, up from the previous 6% to 7%. The company anticipates sustained strong demand driven by data center modernization and a significant subscription software renewal base. The non-GAAP gross margin is expected to be between 83% and 84% for the fiscal year, with non-GAAP operating margins around 35%. F5 plans to continue using at least 50% of its annual free cash flow for share repurchases.

Strong Q2 Financial Performance

F5 delivered 7% total revenue growth, with 12% product revenue growth. Systems revenue grew 27%, while software revenue was flat compared to the year-ago quarter. Non-GAAP EPS was $3.42, representing an 18% year-over-year growth.

Guidance Increase for FY '25

The company raised its FY '25 revenue growth guidance to a range of 6.5% to 7.5%, up from the prior range of 6% to 7%. This increase reflects strong first-half revenue and current business dynamics.

Innovations in AI and Security

F5 announced the F5 Application Delivery and Security Platform (ADSP), offering high performance load balancing and traffic management with app and API security capabilities. The F5 AI Gateway for enterprise AI security was also launched.

Record Cash Flow

F5 generated a record $257 million in cash flow from operations during Q2.

F5 Networks (FFIV) Earnings, Revenues Date & History

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FFIV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2025 (Q4)	3.97 / -	3.67	―	―	―
Jul 30, 2025	2025 (Q3)	3.50 / 4.16	3.36	23.81% (+0.80)
Apr 28, 2025	2025 (Q2)	3.10 / 3.42	2.91	17.53% (+0.51)
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)

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
Jul 30, 2025	$298.99	$313.42	+4.83%
Apr 28, 2025	$265.07	$262.72	-0.89%
Jan 28, 2025	$269.72	$300.46	+11.40%
Oct 28, 2024	$218.36	$240.33	+10.06%

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.