Press release
F5 Networks Previews Upcoming Analyst and Investor Meeting and Status of Strategic Transformation
Updates Horizon 2 Targets Including 6% to 7% Total Revenue Growth CAGR and Expanding Operating Margin, Resulting in Double-Digit Non-GAAP EPS Growth
About this update from F5, Inc.
[{"type":"text","content":"\nUpdates Horizon 2 Targets Including 6% to 7% Total Revenue Growth CAGR and Expanding Operating Margin, Resulting in Double-Digit Non-GAAP EPS Growth\n\nAnnounces $1 Billion in Total Share Repurchases Across Fiscal Years 2021 and 2022 and Intention to Return 50% of Free Cash Flow Thereafter\n\n SEATTLE--(BUSINESS WIRE)--\nF5 Networks, Inc. (NASDAQ: FFIV) today announced a preview of the Company’s upcoming analyst and investor meeting scheduled for November 18, where the Company will provide a strategic overview and updated financial targets. The Company is making information available ahead of the scheduled meeting to enable a more informed and in-depth review of its accelerating transformation strategy. F5 had originally planned its Analyst and Investor Meeting for March 2020 but postponed the event at the outset of the COVID-19 pandemic.\n\nAs the leading multi-cloud application security and delivery provider, F5 is uniquely positioned to pioneer the era of Adaptive Applications and drive significant new growth through its best-in-class application security, delivery, and analytics platform. With a software transformation well ahead of schedule, and a growing recurring revenue base, the company expects to deliver attractive shareholder returns, including a commitment to double-digit non-GAAP EPS growth.\n\nThe event will feature presentations from President and Chief Executive Officer, François Locoh-Donou, Chief Financial Officer, Frank Pelzer, and leaders from F5’s portfolio and go-to-market teams, outlining F5’s compelling market opportunity and its mission to solve its customers’ most important application challenges. Mr. Locoh-Donou’s presentation is available for preview under Coming Events in the investor relations section of the Company’s website.\n\nMr. Locoh-Donou commented, “We have transformed F5 at an unprecedented pace, exceeding our original expectations on total revenue, software growth, software mix, and subscription mix performance. As the only true multi-cloud player serving both traditional and modern applications, we are in a position to pioneer the next phase of application performance innovation in a high growth total addressable market of more than $28 billion in 2023.”\n\nMr. Locoh-Donou continued, “As shown in our recent results, we have reached an inflection point in our transformation story where o...