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Sep 30, 2022
F5 Q4 2022 Earnings Report
F5's Q4 2022 financial results were announced with a 3% revenue increase and GAAP EPS of $1.49.
Key Takeaways
F5 reported a 3% increase in revenue for the fourth quarter of fiscal year 2022, reaching $700 million. GAAP net income was $89 million, or $1.49 per diluted share, while non-GAAP net income was $158 million, or $2.62 per diluted share.
Q4 revenue grew by 3% year-over-year to $700 million.
Product revenue increased by 3%, driven by 13% software revenue growth.
GAAP net income was $89 million, or $1.49 per diluted share.
Non-GAAP net income reached $158 million, or $2.62 per diluted share.
F5
F5
F5 Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.com Forward Guidance
F5 expects to deliver fiscal year 2023 revenue growth of 9% to 11% and non-GAAP earnings growth in the low-to-mid teens. For the first quarter of fiscal year 2023, F5 expects revenue in the range of $690 million to $710 million, with non-GAAP earnings in the range of $2.25 to $2.37 per diluted share.
Positive Outlook
- Component availability is improving.
- Expect fiscal year 2023 revenue growth of 9% to 11%.
- Expect non-GAAP earnings growth in the low-to-mid teens in fiscal year 2023.
- Q1 2023 revenue is expected to be between $690 million and $710 million.
- Q1 2023 non-GAAP earnings are expected to be between $2.25 and $2.37 per diluted share.
Challenges Ahead
- Business is likely to bear some weight from macroeconomic headwinds.
- Forward-looking non-GAAP measures exclude estimates for several items, including amortization of intangible assets and share-based compensation expenses.
- F5 is unable to provide a reconciliation of non-GAAP earnings guidance measures to corresponding GAAP measures on a forward-looking basis without unreasonable effort.
- Material changes to any one of the excluded items could have a significant effect on guidance and future GAAP results.
- Certain exclusions, such as amortization of intangible assets and share-based compensation expenses, are generally incurred each quarter, but the amounts have historically varied and may continue to vary significantly from quarter to quarter.