Press release
F5 Delivers 4% Revenue Growth on Continued Strong Software Demand in Third Quarter Fiscal Year 2020
Generates Third Quarter GAAP EPS of $1.14 and non-GAAP EPS of $2.18 per diluted share SEATTLE--(BUSINESS WIRE)-- F5 Networks, Inc. (NASDAQ: FFIV) today
About this update from F5, Inc.
[{"type":"text","content":"\nGenerates Third Quarter GAAP EPS of $1.14 and non-GAAP EPS of $2.18 per diluted share\n\n SEATTLE--(BUSINESS WIRE)--\nF5 Networks, Inc. (NASDAQ: FFIV) today announced financial results for its fiscal third quarter ended June 30, 2020.\n\n\n“Large enterprise customers are accelerating their digital transformations, increasing their digital engagement, and boosting capacity and security on customer facing applications and on platforms that enable employee collaboration,” said François Locoh-Donou, CEO and President of F5. “Demand for solutions to meet these immediate and long-term business requirements drove 4% GAAP and non-GAAP revenue growth, and 43% non-GAAP software revenue growth in our third quarter.”\n\n\n“Customers continue to look to F5 to enable their mission-critical application needs and increasingly, are deploying a combination of F5 solutions spanning our F5, NGINX and Shape multi-cloud application services portfolio,” continued Locoh-Donou. “In a challenging COVID-19 environment, our deep incumbency and close alignment with customers’ investment priorities are proving distinct competitive advantages and driving resiliency in our business.”\n\n\nThird Quarter Performance Summary\n\n\nFollowing its acquisition of Shape Security, to provide transparency to what F5 management believes reflects its ongoing business results, F5 is reporting both GAAP and non-GAAP revenue. Non-GAAP revenue excludes the impact of the purchase accounting write-down on Shape’s assumed deferred revenue. F5 expects purchase accounting will impact Shape-related recognized revenue on a GAAP-basis principally over the four quarters following the transaction close in January 2020.\n\n\nGAAP revenue of $583 million for the third quarter of fiscal year 2020 reflects 4% growth from $563 million in the third quarter of fiscal year 2019.\n\n\nNon-GAAP revenue for the third quarter of fiscal year 2020 was $586 million, reflecting 4% growth in total revenue and 43% growth in software revenue in the year ago period.\n\n\nGAAP net income for the third quarter of fiscal year 2020 was $70 million, or $1.14 per diluted share compared to third quarter fiscal year 2019 GAAP net income of $86 million, or $1.43 per diluted share.\n\n\nNon-GAAP net income for the third quarter of fiscal year 2020 was $134 million, or $2.18 per diluted share, compared to $152 mill...