F5 Inc. (FFIV) reports earnings
F5 Inc. (FFIV) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in net revenues to $766,489,000 from $692,597,000 in the same quarter the previous year. The increase is attributed to higher product and service revenues.
Net product revenues rose to $368,497,000, up from $305,859,000 in the previous year, with software revenues increasing by 22.5%.
Service revenues increased to $397,992,000 from $386,738,000, driven by growth in maintenance contract renewals.
The company reported a gross profit of $625,979,000 for the quarter, compared to $556,208,000 in the previous year.
Operating expenses for the quarter were $420,897,000, up from $391,692,000. This increase was primarily due to higher sales and marketing, research and development, and general and administrative expenses.
Net income for the quarter was $166,445,000, up from $138,382,000 in the previous year. Basic net income per share was $2.85, compared to $2.34 in the previous year.
Cash provided by operating activities was $202,782,000, while cash used in investing and financing activities was $9,973,000 and $114,683,000, respectively.
F5 had cash and cash equivalents of $1,152,898,000 as of December 31, 2024. The company continues to focus on its multicloud application security and delivery solutions, serving a diverse range of industries.
The filing also details various legal proceedings, including ongoing litigation with Lynwood Investment CY Limited, and notes that the company is subject to a variety of legal proceedings, claims, investigations, and litigation arising in the ordinary course of business.
F5 does not anticipate any significant changes to its financial condition as a result of recent accounting pronouncements.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the F5 Inc. quarterly 10-Q report dated February 7, 2025. To report an error, please email [email protected].