$FFIV

F5 NETWORKS INC

CIK:0001048695|SEC Filings

Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net revenues
Revenue from contract with customer, excluding assessed tax	$ 865,077	$ 780,370	$ 2,499,242	$ 2,277,982
Cost of net revenues
Cost of net revenues	153,564	148,628	456,249	430,097
Gross profit	711,513	631,742	2,042,993	1,847,885
Operating expenses
Sales and marketing	238,026	220,428	702,214	644,524
Research and development	164,661	136,345	456,861	403,424
General and administrative	95,589	78,652	277,834	228,320
Restructuring charges, net	(30)	0	(388)	11,321
Total	498,246	435,425	1,436,521	1,287,589
Income from operations	213,267	196,317	606,472	560,296
Other income, net	12,932	16,706	31,866	32,971
Income before income taxes	226,199	213,023	638,338	593,267
Provision for income taxes	17,991	23,111	102,321	91,380
Net income	$ 208,208	$ 189,912	$ 536,017	$ 501,887
Net income per share — basic (dollars per share)	$ 3.67	$ 3.29	$ 9.40	$ 8.65
Weighted average shares — basic (shares)	56,726	57,772	57,031	57,989
Net income per share — diluted (dollars per share)	$ 3.62	$ 3.25	$ 9.29	$ 8.54
Weighted average shares — diluted (shares)	57,550	58,492	57,674	58,773
Product
Net revenues
Revenue from contract with customer, excluding assessed tax	$ 462,829	$ 388,838	$ 1,283,627	$ 1,094,531
Cost of net revenues
Cost of net revenues	93,498	88,782	276,659	252,905
Service
Net revenues
Revenue from contract with customer, excluding assessed tax	402,248	391,532	1,215,615	1,183,451
Cost of net revenues
Cost of net revenues	$ 60,066	$ 59,846	$ 179,590	$ 177,192

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net income	$ 536,017	$ 501,887
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	193,535	174,243
Depreciation and amortization	72,613	67,608
Non-cash operating lease costs	22,377	23,727
Deferred income taxes	(38,644)	(56,308)
Other	(3,300)	3,918
Changes in operating assets and liabilities (excluding effects of the acquisition of businesses):
Accounts receivable	(14,262)	26,834
Inventories	(49,661)	9,458
Other current assets	(101,005)	(54,523)
Other assets	5,618	(68,332)
Accounts payable and accrued liabilities	50,995	(19,031)
Deferred revenue	192,266	159,003
Lease liabilities	(25,176)	(26,886)
Net cash provided by operating activities	841,373	741,598
Investing activities
Purchases of investments	(4,850)	(4,400)
Maturities of investments	402	0
Sales of investments	1,575	0
Acquisition of businesses, net of cash acquired	(47,619)	(24,170)
Purchases of property and equipment	(63,705)	(27,119)
Net cash used in investing activities	(114,197)	(55,689)
Financing activities
Proceeds from the exercise of stock options and purchases of stock under employee stock purchase plan	59,596	59,018
Payments for repurchase of common stock, including excise taxes	(501,109)	(377,077)
Taxes paid related to net share settlement of equity awards	(22,664)	(19,601)
Net cash used in financing activities	(464,177)	(337,660)
Net increase in cash, cash equivalents and restricted cash	262,999	348,249
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,375)	2,442
Cash, cash equivalents and restricted cash, beginning of period	1,346,368	1,078,340
Cash, cash equivalents and restricted cash, end of period	1,607,992	1,429,031
Supplemental disclosures of cash flow information
Cash paid for amounts included in the measurement of operating lease liabilities	31,490	34,121
Supplemental disclosures of non-cash activities
Right-of-use assets obtained in exchange for lease obligations	$ 15,744	$ 37,198

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
Current assets
Cash and cash equivalents	$ 1,605,782	$ 1,344,273
Accounts receivable, net of allowances of $2,788 and $2,877	428,678	414,433
Inventories	126,890	77,229
Other current assets	785,623	682,766
Total current assets	2,946,973	2,518,701
Property and equipment, net	197,284	156,947
Operating lease right-of-use assets	178,239	185,601
Long-Term Investments	21,991	15,693
Deferred tax assets	487,177	446,388
Goodwill	2,482,495	2,443,882
Other assets, net	514,915	552,280
Total assets	6,829,074	6,319,492
Current liabilities
Accounts payable	136,157	83,972
Accrued liabilities	344,442	315,383
Deferred revenue	1,289,567	1,213,226
Total current liabilities	1,770,166	1,612,581
Deferred tax liabilities	1,949	1,921
Deferred revenue, long-term	903,131	786,011
Operating lease liabilities, long-term	218,700	230,749
Other long-term liabilities	79,399	96,231
Total long-term liabilities	1,203,179	1,114,912
Commitments and contingencies (Note 8)
Shareholders' equity
Preferred stock, no par value; 10,000 shares authorized, no shares issued and outstanding	0	0
Common stock, no par value; 200,000 shares authorized, 56,826 and 57,684 shares issued and outstanding	50,542	42,023
Accumulated other comprehensive loss	(19,046)	(18,324)
Retained earnings	3,824,233	3,568,300
Total shareholders' equity	3,855,729	3,591,999
Total liabilities and shareholders' equity	$ 6,829,074	$ 6,319,492