F5 said total net revenues rose 0.1% in fiscal 2024 from the prior year. The company said service revenue growth partly offset lower product revenue, and net product revenues fell 4.6% ($61.8 million).

10-KAnnual reportFiled Nov 18, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

F5 said total net revenues rose 0.1% in fiscal 2024 from the prior year. The company said service revenue growth partly offset lower product revenue, and net product revenues fell 4.6% ($61.8 million).
The company said net service revenues rose 4.4% ($64.8 million) in fiscal 2024, and software revenue increased 10.8%. It cited the renewal of maintenance contracts and the realization of price increases from prior periods as drivers of service revenue growth.
F5 said research and development expense fell $50.2 million (9.3%) and sales and marketing expense fell $45.9 million (5.2%) in fiscal 2024. It also said it recorded a net restructuring charge of $8.7 million in fiscal 2024 related to the Q1 restructuring plan, which involved a workforce reduction.
The company said cash provided by operating activities was $792.4 million in fiscal 2024, and it used $500.6 million for share repurchases and the payment of related excise taxes. It said cash, cash equivalents and short-term and long-term investments totaled $1,083.2 million as of September 30, 2024, and there were no borrowings outstanding under the Revolving Credit Facility.

Key figures

Fiscal year ended September 30, 2024

Revenue: $2.8B
Operating income: $659M
Net income: $567M
EPS: $9.55
Gross profit: $2.3B
Operating cash flow: $792M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

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.

Annual net revenue up 0.1%, product down and services up

F5 said total net revenues rose 0.1% in fiscal 2024 from the prior year. The company said service revenue growth partly offset lower product revenue, and net product revenues fell 4.6% ($61.8 million).

Source · Based on the MD&A text of the filing

Service revenue up 4.4%, software revenue up 10.8%

The company said net service revenues rose 4.4% ($64.8 million) in fiscal 2024, and software revenue increased 10.8%. It cited the renewal of maintenance contracts and the realization of price increases from prior periods as drivers of service revenue growth.

Source · Based on the MD&A text of the filing

Lower operating expenses and restructuring charges

F5 said research and development expense fell $50.2 million (9.3%) and sales and marketing expense fell $45.9 million (5.2%) in fiscal 2024. It also said it recorded a net restructuring charge of $8.7 million in fiscal 2024 related to the Q1 restructuring plan, which involved a workforce reduction.

Source · Based on the MD&A text of the filing

Operating cash flow $792.4 million, share repurchases $500.6 million

The company said cash provided by operating activities was $792.4 million in fiscal 2024, and it used $500.6 million for share repurchases and the payment of related excise taxes. It said cash, cash equivalents and short-term and long-term investments totaled $1,083.2 million as of September 30, 2024, and there were no borrowings outstanding under the Revolving Credit Facility.

Source · Based on the MD&A text of the filing

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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