Filing Flows › F5 (FFIV) › Q2 FY25
F5 (FFIV) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed May 6, 2025
F5 (FFIV) reported revenue of $731M for the second quarter fiscal 2025 (Q2 FY25), +7% from a year earlier and -5% from the quarter before. Operating margin was 21.7%, net earnings $146M (19.9% of revenue).
F5, Q2 FY25: revenue $731M (+7% year over year), operating margin 21.7%, net earnings $146M, operating cash flow $257M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $731M | -5% | +7% |
| Gross profit | $590M | -6% | +9% |
| Operating profit | $159M | -23% | +14% |
| Net earnings | $146M | -13% | +22% |
| Operating cash flow | $257M | +27% | +16% |
| Free cash flow | $246M | +26% | +16% |
What changed
Revenue was $731.1M in Q2 FY25, up 7% year over year and down 5% from the previous quarter. Service was the largest line at 54% of revenue. Product added $37.0M year over year (up 12%), 74% of the total change.
Gross margin was 80.7%, up 1.4 points from a year earlier. Operating profit was $158.9M, a 21.7% margin (up 1.2 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, above the 21% margin then. Operating expenses grew 8% against revenue growth of 7%. The fastest-growing cost line was General & admin (+14%). Net earnings were $145.5M, up 22% year over year. The effective tax rate was 15.0%.
Operating cash flow was $256.6M (up 16% year over year), 176% of net earnings. Non-cash charges added back $22.5M of depreciation and amortization and $58.9M of share-based compensation. Working capital and other items added $29.7M. Capital expenditures of $10.5M left free cash flow of $246.1M.
Questions
What was F5's revenue in the second quarter fiscal 2025?
F5 (FFIV) reported revenue of $731M for the second quarter fiscal 2025 (Q2 FY25), +7% from a year earlier and -5% from the quarter before.
Was F5 profitable in the second quarter fiscal 2025?
Operating profit was $159M (21.7% of revenue) and net earnings $146M.
Source: F5 10-Q on SEC EDGAR.