EL7.AI
StocksMediumUpdated×2•Originally published 27 October 2026•Updated 27 October 2026•
3 min read

F5 Revenue Jumps to $917 Million, Beating Estimates in Fourth Quarter

Key Facts

1Fourth-quarter revenue was $917 million, topping analysts’ estimates of $884.03 million.
2Product revenue rose 23% to $510 million, marking the ninth consecutive quarter of double-digit growth.
3F5 shares fell 4.35% in coverage published on October 27.
4The company forecast revenue growth of between 8% and 9% in fiscal 2027.

F5 reported results on October 27 for the fourth quarter of fiscal 2026, ended September 30, with revenue of $917 million, topping analysts’ estimates of $884.03 million. The results came after the quarter ended, replacing the previous forecasts that had been the focus of coverage ahead of the announcement. Total revenue rose 13% year over year, according to Chief Executive François Locoh-Donou. He said the company delivered “23% growth in product revenue, driving 13% year-over-year growth in total revenue.”

Product growth was the main driver of quarterly results, with revenue rising 23% to $510 million. The company said the fourth quarter marked its ninth consecutive quarter of double-digit product revenue growth. The streak reflects continued expansion in the business during the fiscal year, while Locoh-Donou linked it to the acceleration in total revenue in the quarter. The CEO described the period as the close of an “exceptional fiscal year.” For full fiscal 2026, revenue rose to $3.417 billion, up 11% from $3.088 billion in fiscal 2025.

Fiscal-year details show varying growth among product revenue components. Product revenue totaled $1.793 billion, up 19%, while systems revenue rose 31% to $923 million. Software revenue grew 8% to $870 million. The figures put systems at the highest growth rate among the three items listed for the year, while products remained the largest by revenue. In the fourth quarter, strong product growth coincided with a decline in GAAP net income from a year earlier.

GAAP net income was $186 million, or $3.23 per diluted share, compared with $190 million and $3.26 per share in the fourth quarter of fiscal 2025. Adjusted net income was $255 million, or $4.42 per diluted share, compared with $257 million and $4.39 a year earlier. Adjusted net income therefore declined year over year, while adjusted earnings per share rose from the comparable period. The two paths in GAAP and adjusted profitability stand out when the quarter’s results are read alongside revenue growth. Despite beating analysts’ estimates for revenue and adjusted earnings, F5 shares fell 4.35% in coverage published on the day of the announcement.

In its fiscal 2027 guidance, F5 forecast revenue growth of between 8% and 9%, and adjusted earnings of between $18.00 and $18.30 per share. For the first quarter of the same fiscal year, it set a revenue range of $875 million to $895 million and adjusted earnings per share of between $4.25 and $4.37. The guidance sets out the company’s outlook after annual revenue grew 11% in the fiscal year just ended. The board also authorized an additional $1.5 billion in share repurchases, alongside $322 million remaining under the existing program. The new authorization adds further capacity to the share repurchase program, according to the company’s statement.