Earnings Call
Jul 27, 2026
Q2 FY2026
EPS Estimate
3.98
EPS Actual
3.90
Post-Earnings Close
$403.46
Earnings Reaction
-1.1%
F5 delivered its seventh consecutive quarter of double-digit product revenue growth in Q2 FY2026, with total revenue of $812 million rising 11% year-over-year and non-GAAP EPS of $3.90 growing 14%, results that matched the prior quarter's beat-and-raise pattern almost exactly. Product revenue of $411 million grew 22%, driven by systems up 26% and software up 17%, while services revenue of $401 million grew a modest 2%. Free cash flow hit a record $348 million, and the company exited the quarter with $1.46 billion in cash and investments. Management responded by raising full-year FY2026 revenue growth guidance to 7%-8% from 5%-6%, and lifting non-GAAP EPS guidance to $16.25-$16.55 from $15.65-$16.05, t
Report generated on Jul 26, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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