The company said total net revenues decreased 1.1% for the 3 months ended December 31, 2023 from the prior-year period. Net product revenues decreased 10.2%, and net service revenues increased 7.5%.

1. 01

   The company said total net revenues decreased 1.1% for the 3 months ended December 31, 2023 from the prior-year period. Net product revenues decreased 10.2%, and net service revenues increased 7.5%.

2. 02

   F5 cited the decrease in net product revenues as being due to lower systems sales, and said software revenues increased 1.8%. It attributed the increase in service revenues to the renewal of maintenance contracts on perpetual license assets.

3. 03

   F5 said sales and marketing expenses for the 3 months decreased $34.2 million (14.7%), and research and development expenses decreased $22.7 million (16.0%). The company cited lower personnel costs as the main driver of the decrease in both expenses.

4. 04

   The company said operating cash flow for the 3 months ended December 31, 2023 was $165.3 million, and it used $150.0 million to repurchase shares of its common stock. Cash and investments totaled $832.0 million, an increase of $23.6 million from $808.4 million as of September 30, 2023.

Key figures

Quarter ended December 31, 2023

Revenue

$693M

Operating income

$165M

Net income

$138M

EPS

$2.32

Gross profit

$556M

Operating cash flow

$165M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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