F5, Inc. Files 2024 Annual Report

TL;DR

F5 filed its 2024 10-K, detailing FY24 performance for products & services. Full financials inside.

AI Summary

F5, Inc. filed its 10-K for the fiscal year ending September 30, 2024. The company, formerly known as F5 Networks, Inc., is headquartered in Seattle, WA. The filing covers financial performance and business operations for the period, with specific financial data and segment reporting for products and services.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of F5, Inc.'s financial health and strategic direction for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing is a standard annual report, but the inherent risks of the technology sector and F5's specific market position contribute to a medium risk level.

Key Numbers

• 20240930 — Fiscal Year End (The report covers the period up to this date.)
• 20241118 — Filing Date (The date the 10-K was officially submitted to the SEC.)

Key Players & Entities

• F5, INC. (company) — Filer
• F5 NETWORKS, INC. (company) — Former company name
• SEATTLE, WA (location) — Business and mailing address
• 20240930 (date) — Fiscal year end
• 20241118 (date) — Filing date

FAQ

Filing Documents

• ffiv-20240930.htm (10-K) — 1808KB
• ffivex191f5insidertradingp.htm (EX-19.1) — 41KB
• ffiv10kex2119302024.htm (EX-21.1) — 5KB
• ffiv10kex2319302024.htm (EX-23.1) — 2KB
• ffiv10kex3119302024.htm (EX-31.1) — 9KB
• ffiv10kex3129302024.htm (EX-31.2) — 9KB
• ffiv10kex3219302024.htm (EX-32.1) — 6KB
• ffivex971f5incentivecompen.htm (EX-97.1) — 31KB
• ffiv-20240930_g1.jpg (GRAPHIC) — 29KB
• ffiv-20240930_g2.jpg (GRAPHIC) — 22KB
• ffiv-20240930_g3.jpg (GRAPHIC) — 132KB
• image_0.jpg (GRAPHIC) — 5KB
• image_1.jpg (GRAPHIC) — 23KB
• picture1.jpg (GRAPHIC) — 9KB
• picture2.jpg (GRAPHIC) — 5KB
• 0001048695-24-000185.txt ( ) — 11048KB
• ffiv-20240930.xsd (EX-101.SCH) — 70KB
• ffiv-20240930_cal.xml (EX-101.CAL) — 108KB
• ffiv-20240930_def.xml (EX-101.DEF) — 317KB
• ffiv-20240930_lab.xml (EX-101.LAB) — 911KB
• ffiv-20240930_pre.xml (EX-101.PRE) — 652KB
• ffiv-20240930_htm.xml (XML) — 1512KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 29

Cybersecurity

Item 1C. Cybersecurity 29

Properties

Item 2. Properties 31

Legal Proceedings

Item 3. Legal Proceedings 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31 PART II

Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market For Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32

[Reserved]

Item 6. [Reserved] 34

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 35

Quantitative and Qualitative Disclosure About Market Risk

Item 7A. Quantitative and Qualitative Disclosure About Market Risk 44

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 45

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 78

Controls and Procedures

Item 9A. Controls and Procedures 78

Other Information

Item 9B. Other Information 78 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 80

Executive Compensation

Item 11. Executive Compensation 80

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 80

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 80

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 80 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 81

Form 10-K Summary

Item 16. Form 10-K Summary 81

SIGNATURES

SIGNATURES 84 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. These statements include, but are not limited to, statements about our plans, objectives, expectations, strategies, intentions or other characterizations of future events or circumstances and are generally identified by the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," and similar expressions. These forward-looking statements are based on current information and expectations and are subject to a number of risks and uncertainties. Our actual results could differ materially and adversely from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed under "Item 1A. Risk Factors" below and in other documents we file from time to time with the Securities and Exchange Commission. We assume no obligation to revise or update any such forward-looking statements. Unless the context otherwise requires, in this Annual Report on Form 10-K, the terms "F5," "the Company," "we," "us," and "our" refer to F5, Inc. and its subsidiaries. Our fiscal year ends on September 30, and fiscal years are referred to by the calendar year in which they end. For example, "fiscal year 2024" and "fiscal 2024" refer to the fiscal year ended September 30, 2024.

Business

Item 1. Business General F5 is a multicloud application security and delivery provider committed to bringing a better digital world to life. F5 partners with the world's largest, most advanced organizations to optimize and secure every application and Application Programming Interface ("API") anywhere, including on-premises, in the cloud, or at the edge. F5 enables businesses to continuously stay ahead of threats while delivering exceptional, secure digital experiences for their customers. Our application security and delivery solutions are available in a range of deployment and consumption models. We sell packaged software in perpetual, subscription, and usage-based consumption models. We also sell our solutions in software-as-a-service ("SaaS") and managed services deployment models with subscription and usage-based consumption models. In addition, we sell high-performance systems, or hardware, as well as a broad range of global services including maintenance, consulting, training and other technical support services. Our customers include large enterprise businesses, public sector institutions, governments, and service providers. We conduct our business globally and manage our business by geography. Our business is organized into three primary geographic regions: Americas; Europe, the Middle East, and Africa ("EMEA"); and the Asia Pacific region ("APAC"). F5 was incorporated on February 26, 1996 in the state of Washington. Our headquarters is in Seattle, Washington, and our mailing address is 801 5th Avenue, Seattle, Washington 98104-1663. The telephone number at that location is (206) 272-5555. Our website is www.f5.com. We have 83 subsidiaries, branch offices, or representative offices worldwide. Through a link on the Investor Relations section of our website, we make available the following filings as soon as reasonably possible after they are electronically filed with or furnished to the Securities and Exchange Commission ("SEC"): our Annual Report on Fo

View Full Filing

View this 10-K filing on SEC EDGAR