F5, Inc. (FFIV) reported stronger-than-expected second-quarter results for fiscal 2026 on March 31, 2026. The company achieved non-GAAP earnings per share of $3.90, exceeding the Zacks Consensus Estimate by 12.44% and surpassing its own guidance of $3.34-$3.46. Revenue reached $812 million, beating consensus estimates by 3.49% and reflecting an 11% year-over-year growth, exceeding management’s forecast of $770-$790 million.
Product revenues, accounting for 50.6% of total sales, increased by 22% to $411 million, driven by strong demand in Systems, which grew 26% to $226 million. Software revenues rose 17% to $184 million, with subscription revenues being the primary contributor. F5 ended the quarter with cash and short-term investments of $1.44 billion and reported record free cash flow of $348 million. For fiscal 2026, F5 raised its revenue growth outlook to 7%-8% and adjusted its non-GAAP earnings estimate to between $16.25 and $16.55 per share.
Looking ahead, F5 projects third-quarter revenues between $820-$840 million and non-GAAP earnings between $3.91-$4.03 per share, attributing growth to factors such as accelerating hybrid multi-cloud adoption and an expanding threat landscape, with AI-related sales contributing approximately $50 million in the first half of the year.
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