F5 Reports 4% GAAP and 3% Non-GAAP Revenue Growth for Fiscal Year 2022; Expects 9% to 11% Revenue Growth and Double-Digit Non-GAAP EPS Growth in Fiscal Year 2023

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[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nF5, Inc. (NASDAQ: FFIV) today announced financial results for its fourth quarter and fiscal year ended September 30, 2022.\n\n“Organizations across the globe have embraced and accelerated digital transformation to improve efficiency and to deliver the extraordinary digital experiences that are significant drivers of their businesses. In a challenging macro environment, these efforts take on new importance,” said François Locoh-Donou, F5’s President and CEO. “F5’s solutions automate, secure, and manage our customers’ rapidly expanding application footprints and evolving hybrid IT environments, enabling our customers to focus fewer resources on managing their IT infrastructure and more resources on running and growing their businesses.”\n\nFiscal Year 2022 Performance Summary\n\nFiscal year 2022 GAAP revenue grew 4%, to $2.7 billion, up from $2.6 billion in the year ago period. Fiscal year 2022 non-GAAP revenue grew 3%, to $2.7 billion, up from $2.6 billion in fiscal year 2021. Product revenue grew 6% from the year-ago period, including 33% software revenue growth. Systems revenue declined 13% from the year-ago period as a result of ongoing semiconductor shortages. Global services revenue grew 2% from the year-ago period.\n\nGAAP net income for fiscal year 2022 was $322 million, or $5.27 per diluted share, compared to $331 million, or $5.34 per diluted share, in fiscal year 2021.\n\nNon-GAAP net income for fiscal year 2022 was $623 million, or $10.19 per diluted share, compared to $671 million, or $10.81 per diluted share, in fiscal year 2021.\n\nFourth Quarter Performance Summary\n\nFourth quarter fiscal year 2022 revenue grew 3% from the year ago period, to $700 million, up from $682 million in fiscal year 2021. Product revenue grew 3% from the year-ago period, including 13% software revenue growth. Systems revenue declined 5% from the year-ago period as a result of ongoing semiconductor shortages. Global services revenue grew 2% from the year-ago period.\n\nGAAP net income for the fourth quarter of fiscal year 2022 was $89 million, or $1.49 per diluted share compared to net income of $111 million, or $1.80 per diluted share, in fiscal year 2021.\n\nNon-GAAP net income for the fourth quarter of fiscal year 2022 was $158 million, or $2.62 per diluted share, compared to $185 million, or $3.01 per dilut...

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