F5 (FFIV) Q3 FY2026 earnings: revenue $865 million, up 10.9% on the year

F5, Inc. (FFIV) reported revenue of $865 million for Q3 FY2026, the quarter ended 30 June 2026, up 10.9% on the same quarter a year earlier. Net income was $208 million, up 9.6% on the year, and diluted earnings per share $3.62. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue

$865 million

+10.9% on the year · +6.6% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

24.7%

25.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

$208 million

+9.6% on the year · +40.9% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$3.62

+11.4% on the year · +40.3% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 2 new.

Revenue rose 11% year over year: Third quarter revenue was $865.1 million, up 11% from $780.4 million. Nine-month revenue was $2,499.2 million against $2,278.0 million.
Product revenue grew 19%: Management said 19% product revenue growth drove 11% total revenue growth. Product revenue was $462.8 million, up from $388.8 million a year earlier.
Full-year guidance raised: Management raised the fiscal 2026 revenue growth and non-GAAP EPS ranges. Figures are listed in the guidance section.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	865	812	780	+6.6%	+10.9%
Cost of revenue	154	151	149	+1.8%	+3.3%
Gross profit	712	661	632	+7.7%	+12.6%
Gross margin	82.2%	81.4%	81.0%
Research and development	165	151	136	+9.0%	+20.8%
Operating income	213	179	196	+19.1%	+8.6%
Operating margin	24.7%	22.1%	25.2%
Pre-tax income	226	189	213	+19.5%	+6.2%
Income tax	18.0	41.5	23.1	-56.6%	-22.2%
Effective tax rate	8.0%	21.9%	10.8%
Net income	208	148	190	+40.9%	+9.6%
Net margin	24.1%	18.2%	24.3%
Diluted EPS	$3.62	$2.58	$3.25	+40.3%	+11.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	316	366	282	-13.6%	+12.1%
Capital expenditure	35.6	18.3	8.5	+94.3%	+317.2%
Free cash flow	281	348	274	-19.3%	+2.5%
Free cash flow margin	32.4%	42.8%	35.1%
Cash from investing	-85.0	-18.7	-25.1
Cash from financing	-67.9	-103	-93.4
Depreciation and amortisation	23.4	24.6	22.5	-4.7%	+4.3%
Share-based compensation	65.5	68.0	57.5	-3.6%	+14.1%
Buybacks	100	n/a	125		-20.0%
Diluted shares, weighted	58m	57m	58m	+0.4%	-1.6%
Shares outstanding at period end	57m	57m	58m	+0.1%	-1.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	3,856	3,650	3,472	+5.6%	+11.1%
Debt	0.0	0.0	0.0
Operating lease liabilities	219	227	229	-3.5%	-4.7%
Other liabilities	2,755	2,621	2,412	+5.1%	+14.2%
Total liabilities and equity	6,829	6,497	6,113	+5.1%	+11.7%
Fixed assets	197	175	152	+12.5%	+29.4%
Goodwill	2,482	2,444	2,324	+1.6%	+6.8%
Intangible assets	69.6	72.1	88.5	-3.6%	-21.4%
Investments	22.0	20.8	15.0	+5.7%	+46.3%
Cash and equivalents	1,606	1,443	1,427	+11.3%	+12.5%
Receivables	429	426	360	+0.7%	+19.1%
Inventory	127	90.3	66.9	+40.5%	+89.6%
Other assets	1,896	1,827	1,679	+3.8%	+12.9%
Total assets	6,829	6,497	6,113	+5.1%	+11.7%

Questions

What was F5's revenue in Q3 FY2026?

F5 (FFIV) reported revenue of $865 million for Q3 FY2026, the quarter ended 30 June 2026, up 10.9% on the same quarter a year earlier.

How much did F5 earn in Q3 FY2026?

Net income for Q3 FY2026 was $208 million, up 9.6% on the year, and diluted earnings per share $3.62.

When did F5 report Q3 FY2026 results?

F5 filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 6 August 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	682	687	634	674	700	700	703	703	707	693	681	695	747	766	731	780	810	822	812	865
Cost of revenue	129	135	126	131	147	155	156	142	141	136	141	136	144	141	141	149	144	152	151	154
Gross profit	553	552	508	544	553	545	548	561	566	556	540	559	603	626	590	632	666	671	661	712
Gross margin	81%	80%	80%	81%	79%	78%	78%	80%	80%	80%	79%	80%	81%	82%	81%	81%	82%	82%	81%	82%
R&D	125	130	136	139	139	142	141	129	128	120	122	124	124	131	137	136	136	141	151	165
Operating income	126	114	74.6	107	108	91.2	106	104	172	165	140	163	191	205	159	196	206	214	179	213
Operating margin	19%	17%	12%	16%	15%	13%	15%	15%	24%	24%	21%	23%	26%	27%	22%	25%	25%	26%	22%	25%
Pre-tax income	123	112	72.7	101	99.7	95.9	109	106	175	174	146	172	204	209	171	213	215	223	189	226
Tax rate	10%	16%	23%	18%	10%	25%	25%	16%	13%	21%	18%	16%	19%	20%	15%	11%	11%	19%	22%	8%
Net income	111	93.6	56.2	83.0	89.3	72.4	81.4	89.0	152	138	119	144	165	166	146	190	190	180	148	208
Net margin	16%	14%	9%	12%	13%	10%	12%	13%	22%	20%	17%	21%	22%	22%	20%	24%	24%	22%	18%	24%
Diluted EPS	$1.77	$1.51	$0.92	$1.37	$1.47	$1.20	$1.34	$1.48	$2.55	$2.32	$2.00	$2.44	$2.80	$2.82	$2.48	$3.25	$3.26	$3.10	$2.58	$3.62
Operating cash flow	197	90.4	127	71.4	154	158	141	165	190	165	222	159	247	203	257	282	208	159	366	316
Capital expenditure	7.1	10.6	5.2	9.3	8.5	13.1	10.7	15.0	15.4	9.0	9.5	5.8	6.1	8.1	10.5	8.5	16.1	9.7	18.3	35.6
Free cash flow	190	79.8	121	62.1	146	145	130	150	174	156	212	153	240	195	246	274	192	149	348	281
Buybacks	0.0	125	125	250	0.0	40.0	0.0	250	60.0	150	100	150	101	n/a	n/a	125	n/a	n/a	n/a	100
Shares outstanding	61m	61m	60m	60m	60m	60m	60m	59m	59m	59m	59m	58m	58m	58m	58m	58m	58m	57m	57m	57m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 6 August 2026: the filing.