F5, Inc. Files Q3 2024 10-Q Report

TL;DR

F5 Q3 10-Q filed. Financials for period ending 6/30/24 are in.

AI Summary

F5, Inc. filed its 10-Q for the period ending June 30, 2024, reporting financial results. The company's fiscal year ends on September 30th. The filing covers the third quarter of their fiscal year, with data presented for the three months ended June 30, 2024, and the nine months ended June 30, 2024, compared to prior periods.

Why It Matters

This filing provides investors with a detailed look at F5, Inc.'s financial performance and position as of the end of the third quarter of fiscal year 2024, crucial for understanding the company's ongoing operations and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing (10-Q) and does not inherently present new risks beyond those typically associated with public company reporting.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the reporting quarter for the 10-Q filing.)
• 20240806 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• F5, INC. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240806 (date) — Filing date
• SEATTLE (location) — Company headquarters city
• WA (location) — Company headquarters state

FAQ

Filing Documents

• ffiv-20240630.htm (10-Q) — 1048KB
• ffiv10qex3116302024.htm (EX-31.1) — 10KB
• ffiv10qex3126302024.htm (EX-31.2) — 10KB
• ffiv10qex3216302024.htm (EX-32.1) — 7KB
• 0001048695-24-000125.txt ( ) — 5928KB
• ffiv-20240630.xsd (EX-101.SCH) — 39KB
• ffiv-20240630_cal.xml (EX-101.CAL) — 70KB
• ffiv-20240630_def.xml (EX-101.DEF) — 157KB
• ffiv-20240630_lab.xml (EX-101.LAB) — 532KB
• ffiv-20240630_pre.xml (EX-101.PRE) — 355KB
• ffiv-20240630_htm.xml (XML) — 846KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 4 Consolidated Balance Sheets 4 Consolidated Income Statements 5 Consolidated Statements of Comprehensive Income 6 Consolidated Statements of Shareholders' Equity 7 Consolidated Statements of Cash Flows 9

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 10

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 30

SIGNATURES

SIGNATURES 31 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements F5, INC. CONSOLIDATED BALANCE SHEETS (unaudited, in thousands) June 30, 2024 September 30, 2023 ASSETS Current assets Cash and cash equivalents $ 934,809 $ 797,163 Short-term investments 812 6,160 Accounts receivable, net of allowances of $ 3,685 and $ 3,561 419,986 454,832 Inventories 78,537 35,874 Other current assets 552,023 554,744 Total current assets 1,986,167 1,848,773 Property and equipment, net 154,238 170,422 Operating lease right-of-use assets 185,253 195,471 Long-term investments 7,298 5,068 Deferred tax assets 343,611 295,308 Goodwill 2,312,362 2,288,678 Other assets, net 425,521 444,613 Total assets $ 5,414,450 $ 5,248,333 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 53,618 $ 63,315 Accrued liabilities 259,874 282,890 Deferred revenue 1,142,090 1,126,576 Total current liabilities 1,455,582 1,472,781 Deferred tax liabilities 6,146 4,637 Deferred revenue, long-term 630,494 648,545 Operating lease liabilities, long-term 222,486 239,565 Other long-term liabilities 88,997 82,573 Total long-term liabilities 948,123 975,320 Commitments and contingencies (Note 8) Shareholders' equity Preferred stock, no par value; 10,000 shares authorized, no shares outstanding — — Common stock, no par value; 200,000 shares authorized, 58,284 and 59,207 shares issued and outstanding 17,898 24,399 Accumulated other comprehensive loss ( 22,257 ) ( 23,221 ) Retained earnings 3,015,104 2,799,054 Total shareholders' equity 3,010,745 2,800,232 Total liabilities and shareholders' equity $ 5,414,450 $ 5,248,333 The accompanying notes are an integral part of these consolidated financial statements. 4 Table of Contents F5, INC. CONSOLIDATED INCOME STATEMENTS (unaudited, in thousands, except per share data) Three months ended June 30, Nine months ended June 30, 2024 2023 2024 2023 Net revenues Products $ 308,489 $ 328,175 $ 914,510 $ 1,009,314 Services 387,006 374,467 1,

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 1. Summary of Significant Accounting Policies Description of Business F5, Inc. (the "Company") is a leading provider of multicloud application security and delivery solutions which enable its customers to develop, deploy, operate, secure, and govern applications in any architecture, from on-premises to the public cloud. The Company's cloud, software, and hardware solutions enable its customers to deliver digital experiences to their customers faster, reliably, and at scale. The Company's enterprise-grade application services are available as cloud-based, software-as-a-service, and software-only solutions optimized for multi-cloud environments, with modules that can run independently, or as part of an integrated solution on its high-performance appliances. In connection with its solutions, the Company offers a broad range of professional services, including consulting, training, maintenance, and other technical support services. Basis of Presentation The year-end consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America ("GAAP"). In the opinion of management, the unaudited consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary for their fair statement in conformity with accounting principles generally accepted in the United States of America. Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission ("SEC"). The information included in this Form 10-Q should be read in conjunction with Management's Discussion and Analysis of Financial Condition and Results of Operations and financial statements and notes thereto included in the Company's Annual Report on F

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View this 10-Q filing on SEC EDGAR