F5, Inc. Files Q1 Fiscal 2025 10-Q Report

TL;DR

F5 Q1 2025 10-Q filed. Financials look solid.

AI Summary

F5, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year. Key financial data and business segments are detailed, with the company headquartered at 801 5th Avenue, Seattle, WA.

Why It Matters

This report provides investors and analysts with a quarterly update on F5, Inc.'s financial performance and business operations, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Players & Entities

• F5, INC. (company) — Filer
• 20241231 (date) — Period of Report
• 20250207 (date) — Filing Date
• 801 5TH AVENUE (address) — Business Address
• SEATTLE (location) — City
• WA (location) — State

FAQ

Filing Documents

• ffiv-20241231.htm (10-Q) — 783KB
• ffiv10qex31112312024.htm (EX-31.1) — 10KB
• ffiv10qex31212312024.htm (EX-31.2) — 10KB
• ffiv10qex32112312024.htm (EX-32.1) — 7KB
• 0001048695-25-000026.txt ( ) — 5348KB
• ffiv-20241231.xsd (EX-101.SCH) — 40KB
• ffiv-20241231_cal.xml (EX-101.CAL) — 66KB
• ffiv-20241231_def.xml (EX-101.DEF) — 138KB
• ffiv-20241231_lab.xml (EX-101.LAB) — 527KB
• ffiv-20241231_pre.xml (EX-101.PRE) — 351KB
• ffiv-20241231_htm.xml (XML) — 671KB

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 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9

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 26

Controls and Procedures

Item 4. Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 29

Other Information

Item 5. Other Information 29

Exhibits

Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements F5, INC. CONSOLIDATED BALANCE SHEETS (unaudited, in thousands) December 31, 2024 September 30, 2024 ASSETS Current assets Cash and cash equivalents $ 1,150,907 $ 1,074,602 Accounts receivable, net of allowances of $ 4,955 and $ 4,585 484,989 389,024 Inventories 73,239 76,378 Other current assets 632,893 569,467 Total current assets 2,342,028 2,109,471 Property and equipment, net 149,979 150,943 Operating lease right-of-use assets 198,206 178,180 Long-term investments 11,177 8,580 Deferred tax assets 378,334 365,951 Goodwill 2,312,362 2,312,362 Other assets, net 508,555 487,517 Total assets $ 5,900,641 $ 5,613,004 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 53,611 $ 67,894 Accrued liabilities 316,369 300,076 Deferred revenue 1,217,664 1,121,683 Total current liabilities 1,587,644 1,489,653 Deferred tax liabilities 7,702 7,179 Deferred revenue, long-term 728,596 676,276 Operating lease liabilities, long-term 242,872 215,785 Other long-term liabilities 98,076 94,733 Total long-term liabilities 1,077,246 993,973 Commitments and contingencies (Note 8) Shareholders' equity Preferred stock, no par value; 10,000 shares authorized, no shares issued and outstanding — — Common stock, no par value; 200,000 shares authorized, 58,132 and 58,094 shares issued and outstanding 9,461 5,889 Accumulated other comprehensive loss ( 24,199 ) ( 20,912 ) Retained earnings 3,250,489 3,144,401 Total shareholders' equity 3,235,751 3,129,378 Total liabilities and shareholders' equity $ 5,900,641 $ 5,613,004 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 amounts) Three months ended December 31, 2024 2023 Net revenues Products $ 368,497 $ 305,859 Services 397,992 386,738 Total 766,489 692,597 Cost of net revenues Products 82,836 82

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 multicloud 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 Fo

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