F5's consistent product growth and raised guidance indicate durable demand. Traders should expect positive momentum; watch for sustained software acceleration and any updates on cyber incident costs. The raised FY outlook supports valuation re-rating.
Price Chart
Executive Summary
F5 reported Q2 FY2026 results with revenue of $812M (+11% YoY), beating consensus and raising full-year guidance. GAAP EPS of $2.58 slightly above $2.55 consensus, while non-GAAP EPS of $3.90 reflects strong operational leverage. Raised FY2026 revenue growth guidance to 7-8% and non-GAAP EPS to $16.25-$16.55, signaling continued momentum.
Key Financial Metrics
Key Facts
- Q2 FY2026 revenue $812M, +11% YoY vs $731M
- GAAP diluted EPS $2.58 vs $2.55 consensus (beat by 1.2%)
- Non-GAAP diluted EPS $3.90, +14% YoY
- Raised FY2026 revenue growth guidance to 7-8% (from 5-6%)
- Raised FY2026 non-GAAP EPS guidance to $16.25-$16.55 (from $15.65-$16.05)
- Seventh consecutive quarter of double-digit product revenue growth (22% this quarter)
- Software revenue $184M, +17% YoY
- Q3 FY2026 guidance: revenue $820M-$840M, non-GAAP EPS $3.91-$4.03
Financial Impact
Revenue beat by ~3.8% vs implied consensus (using Q3 guidance midpoint $830M as proxy); non-GAAP EPS beat likely above consensus ranges. Guidance raise implies $0.60-$0.70 incremental annual EPS.
Risk Factors
- Cyber incident costs ($6M in Q2) may recur
- Macro uncertainty could impact enterprise spending
- Competitive pressure from larger networking/security vendors
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001048695-26-000042 |
| Document: ffiv-20260428.htm | 0001048695-26-000042 |
| Document: 0001048695-26-000042-index-headers.html | 0001048695-26-000042 |
| Document: 0001048695-26-000042-index.html | 0001048695-26-000042 |
| Document: 0001048695-26-000042.txt | 0001048695-26-000042 |
| 8-K Data (Synthetic) | 0001048695-26-000042 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | Insider Cluster | $430.88 $453.33 | ▲ +5.21% | ▲ +3.08% | $454.04 (+5.38%) |
Aug 6, 2026 8w ago | Insider Cluster | $413.07 $416.00 | ▲ +0.71% | ▼ −0.50% | $454.04 (+9.92%) |
Aug 4, 2026 8w ago | Insider Cluster | $411.32 $422.95 | ▲ +2.83% | ▲ +2.48% | $454.04 (+10.39%) |
Aug 4, 2026 8w ago | Insider Cluster | $411.32 $422.95 | ▲ +2.83% | ▲ +2.48% | $454.04 (+10.39%) |
Jul 27, 2026 9w ago | 8-K | $403.46 $406.35 | ▲ +0.72% | ▼ −1.55% | $454.04 (+12.54%) |
Jun 23, 2026 14w ago | 8-K | $384.78 $424.18 | ▲ +10.24% | ▲ +8.53% | $454.04 (+18.00%) |
May 4, 2026 21w ago | Insider Cluster | $329.93 $358.30 | ▲ +8.60% | ▲ +5.66% | $454.04 (+37.62%) |
May 4, 2026 21w ago | Insider Cluster | $329.93 $358.30 | ▲ +8.60% | ▲ +5.66% | $454.04 (+37.62%) |
Apr 28, 2026 22w ago | 8-K | $328.15 $339.90 | ▲ +3.58% | ▲ +0.47% | $454.04 (+38.36%) |
Apr 28, 2026 22w ago | 8-K | $328.15 $339.90 | ▲ +3.58% | ▲ +0.47% | $454.04 (+38.36%) |
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