F5 Inc. reported strong financial results with significant revenue and EPS growth, driven by a robust systems refresh cycle, new product innovations, and strong international performance. Despite flat software revenue and potential challenges in the U.S. federal market due to budget uncertainties, the overall sentiment of the call was positive, supported by raised guidance and record cash flow.

Company Guidance -

Q4 2025

During F5's fiscal 2025 Q2 earnings call, the company reported a 7% increase in total revenue, with product revenue growing by 12% and systems revenue rising by 27%, while software revenue remained flat compared to the previous year. The company also posted a non-GAAP EPS of $3.42, marking an 18% year-over-year growth. F5 anticipates Q3 revenue to be between $740 million and $760 million, indicating approximately 8% growth at the midpoint. Furthermore, the company raised its fiscal year 2025 revenue growth guidance to a range of 6.5% to 7.5%, up from the previous 6% to 7%, reflecting the strong performance in the first half of the year. The guidance update considers sustained demand for data center modernization, competitive displacement momentum, and a robust software subscription renewal base.

Strong Revenue Growth

F5 delivered 7% total revenue growth, including 12% product revenue growth. Systems revenue grew 27%, while software revenue was flat with the year-ago quarter.

Record Non-GAAP EPS

Non-GAAP EPS of $3.42, representing 18% year-over-year growth, $0.28 above the top end of guidance range.

Raised FY '25 Revenue Guidance

F5 raised its guidance for FY '25 revenue growth to a range of 6.5% to 7.5%, up from the prior range of 6% to 7%.

Introduction of F5 ADSP

The launch of the F5 Application Delivery and Security Platform, converging high-performance load balancing and traffic management with advanced app and API security capabilities.

Strong International Growth

EMEA delivered 20% growth, representing 29% of revenue, and APAC grew 3%, representing 17% of revenue.

Record Cash Flow

Generated a record $257 million in cash flow from operations in 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.