F5 Q3 2021 Earnings Report
Key Takeaways
F5 reported strong third quarter results with a 12% increase in GAAP revenue and an 11% increase in non-GAAP revenue compared to the previous year. The growth was driven by a 21% increase in product revenue and a 4% increase in global services revenue.
GAAP revenue was $652 million, up 12% year-over-year.
Non-GAAP revenue growth was driven by 21% product revenue growth and 4% global services revenue growth.
GAAP net income was $90 million, or $1.46 per diluted share, compared to $70 million, or $1.14 per diluted share, in the third quarter of fiscal year 2020.
Non-GAAP net income was $169 million, or $2.76 per diluted share, compared to $134 million, or $2.18 per diluted share, in the third quarter of fiscal year 2020.
F5
F5
F5 Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal year 2021 ending September 30, 2021, F5 expects to deliver revenue in the range of $660 million to $680 million, with non-GAAP earnings in the range of $2.68 to $2.80 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income