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Sentiment · FY2026 Q3
As of FY2026 Q2, the Tellvest earnings-call sentiment score for F5, Inc. (FFIV) is 8/10.
F5 grew revenue 11% to $812 million, led by 22% product growth, its seventh consecutive quarter of double-digit product growth, with systems revenue up 26% to $226 million and software up 17% to $184 million. Demand reflected hybrid multicloud adoption, an expanding threat landscape, and AI inference moving into production; AI-specific use cases contributed approximately $50 million of first-half sales, up more than 200% year-on-year across roughly 100 customers. International strength stood out, with EMEA up 22% and APAC up 19% against 3% growth in the Americas, as digital sovereignty requirements pushed customers toward hybrid and on-premises architectures. Non-GAAP EPS of $3.90 rose 14% and free cash flow reached a record $348 million, while GAAP EPS of $2.58 grew more slowly than revenue. Management raised the FY 2026 revenue outlook to 7% to 8% growth from 5% to 6% and lifted non-GAAP EPS guidance to $16.25 to $16.55, while flagging higher memory costs that will step gross margin down sequentially from Q3 into Q4.
Scored from F5, Inc.’s FY2026 Q2 earnings call. The newest quarter is available with Tellvest Pro.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $747M | +5.6% | $2.80 | +9.8% | 80.8% | 25.6% | 22.1% | $240M |
| FY2025 Q1 | $766M | +10.7% | $2.82 | +21.6% | 81.7% | 26.8% | 21.7% | $195M |
| FY2025 Q2 | $731M | +7.3% | $2.48 |
| +24.0% |
| 80.7% |
| 21.7% |
| 19.9% |
| $246M |
| FY2025 Q3 | $780M | +12.2% | $3.25 | +33.2% | 81.0% | 25.2% | 24.3% | $274M |
| FY2025 Q4 | $810M | +8.5% | $3.26 | +16.4% | 82.2% | 25.4% | 23.5% | $192M |
| FY2026 Q1 | $822M | +7.3% | $3.10 | +9.9% | 81.5% | 26.0% | 21.9% | $149M |
| FY2026 Q2 | $812M | +11.0% | $2.58 | +4.0% | 82.8% | 22.0% | 18.2% | $348M |
| FY2026 Q3 | $865M | +10.9% | $3.61 | +11.1% | 82.2% | 24.7% | 24.1% | $281M |