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F5, Inc. is a leading provider of multi-cloud application security and delivery solutions, enabling customers to develop, deploy, operate, secure, and govern applications across various architectures, from on-premises to the public cloud . The company's enterprise-grade application services are available as cloud-based, software-as-a-service (SaaS), and software-only solutions optimized for multi-cloud environments, with modules that can run independently or as part of an integrated solution on high-performance appliances . F5 markets and sells its products primarily through indirect sales channels across the Americas, Europe, the Middle East, and Africa (EMEA), and the Asia Pacific region (APAC) .
- Application Security and Delivery Solutions - Provides comprehensive solutions for securing and delivering applications, including BIG-IP software and systems, which are available on both a perpetual license and subscription basis.
- BIG-IP Software - Offers a range of application services that enhance security, performance, and availability.
- F5 NGINX Software - Delivers high-performance application delivery and API management solutions, sold on a subscription basis.
- F5 Distributed Cloud Services - Offers security, multi-cloud networking, and edge-based computing solutions under a unified SaaS platform, available on a subscription basis.
- Global Services - Includes annual maintenance contracts, training, and consulting services to support and enhance the use of F5 products.
| Name | Position | External Roles | Short Bio | Start Date |
|---|---|---|---|---|
François Locoh-Donou ExecutiveBoard | President, Chief Executive Officer, and Director | Director at Capital One Financial Corporation; Co-founder and Chairperson of Cajou Espoir | CEO since 2017, led F5's transformation into a software-first leader in multi-cloud application security and delivery. Over 70% of revenues are now recurring. | April 2017 |
Chad Whalen Executive | Executive Vice President and Chief Revenue Officer | None | Joined F5 in 2017, previously EVP of Worldwide Sales. Drives revenue growth and customer expansion strategies. | September 2024 |
Kunal Anand Executive | Executive Vice President and Chief Innovation Officer | None | Joined F5 in 2024, previously CTO and CISO at Imperva. Leads F5's technology and AI strategy, including generative AI integration. | September 2024 |
Lyra Schramm Executive | Executive Vice President and Chief People Officer | None | Joined F5 in 2024, previously held HR leadership roles at Google, Amazon, and the Gates Foundation. Focuses on aligning people initiatives with company growth. | April 2024 |
Scot Rogers Executive | Executive Vice President and General Counsel | None | General Counsel since 2014, with prior roles in F5's legal department since 2005. Extensive legal and commercial litigation experience. | January 2014 |
Tom Fountain Executive | Chief Operating Officer | None | Joined F5 in 2018, previously EVP and Chief Strategy Officer. Leads digital transformation and operational efficiency. | August 2024 |
Alan J. Higginson Board | Chair of the Board | None | Director since 1996, Chair since 2004. Over 30 years of experience in software and technology industries. | May 1996 |
Elizabeth L. Buse Board | Director | Director at U.S. Bancorp | Director since 2020, former Co-CEO of Monitise and EVP at Visa. Brings financial services and technology expertise. | September 2020 |
Julie Gonzalez Board | Director | None | Director since 2024, SVP of Business Finance at Workday. Brings financial strategy and planning expertise. | October 2024 |
Marianne N. Budnik Board | Director | Chief Marketing Officer at VAST Data; Director at Cerence, Inc. | Director since 2022, former CMO at CrowdStrike and CyberArk. Brings marketing and cybersecurity expertise. | October 2022 |
Maya McReynolds Board | Director | CFO, Client Solutions Group at Dell Technologies | Director since 2024, over 25 years of experience in accounting and finance. Leads financial strategy for Dell's $50B+ business. | October 2024 |
Michael F. Montoya Board | Director | COO at BlueVoyant; Director at Temasek Holdings Ltd. | Director since 2021, former CISO at Equinix and Microsoft. Brings cybersecurity and risk management expertise. | June 2021 |
Michael L. Dreyer Board | Director | Director at Coherent Corporation | Director since 2012, former COO of Silicon Valley Bank and CIO of Visa. Brings IT and cybersecurity expertise. | October 2012 |
Michel Combes Board | Director | EVP at Claure Group; Director at Philip Morris International and Etisalat; Non-voting Board Observer at Assystem SA; Member of Advisory Team at McLaren Racing Limited | Director since 2023, former CEO of Sprint, Altice, and Alcatel-Lucent. Extensive telecom and technology leadership experience. | September 2023 |
Nikhil Mehta Board | Director | CEO of Gainsight, Inc.; Director at Pubmatic, Inc. | Director since 2019, CEO of Gainsight. Brings SaaS and customer success expertise. | January 2019 |
Peter S. Klein Board | Director | Director at Denali Therapeutics Inc. and Accolade, Inc. | Director since 2015, former CFO of Microsoft. Brings financial expertise and serves as an audit committee financial expert. | March 2015 |
Tami Erwin Board | Director | Director at Deere & Company, Xerox Corporation, and York Space Systems; Operating Partner at Digital Gravity Infrastructure Partners; Member of CEO Advisory Council at Cohesity; Senior Fellow at Mission Possible Partnership | Director since 2023, former CEO of Verizon Business Group. Brings expertise in digital transformation and scaling innovation. | October 2023 |
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Are you experiencing increased attrition in your sales team due to competitors poaching your staff, and how is this affecting your go-to-market strategy?
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The shift from hardware to software seems slower than expected, with customers preferring hardware solutions; do you anticipate a more rapid shift to software in the upcoming upgrade cycle, or will hardware continue to be a significant part of your revenue mix?
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With the $65 million headwind from retiring legacy SaaS businesses and migrating Silverline to Distributed Cloud Services, are you on track with this transition, and how are you mitigating the associated revenue impact?
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Given the challenges in your bot manager business, including customer churn due to preference for lower-cost or platform-based solutions, what strategies are you implementing to improve its performance and address competitive pressures?
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While you expect hardware demand to stabilize or grow next year due to tech refresh cycles and AI opportunities, how confident are you in this outlook considering industry trends toward software and cloud solutions, and what risks could affect this hardware demand?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Citrix | Competes with the company's BIG-IP offerings in the application delivery space, focusing on reliability across environments from on-premises to multicloud. |
Competes with the company's BIG-IP offerings in application delivery and is also a competitor in multicloud networking through F5 Distributed Cloud Services. | |
Amazon Web Services (AWS) | Competes with the company's F5 NGINX offerings in optimizing Kubernetes traffic management and load balancing for cloud-native and hybrid cloud applications. |
Google Cloud Platform | Competes with the company's F5 NGINX offerings in optimizing Kubernetes traffic management and load balancing for cloud-native and hybrid cloud applications. |
Envoy | Competes with the company's F5 NGINX offerings in optimizing Kubernetes traffic management and load balancing for cloud-native and hybrid cloud applications. |
HAProxy | Competes with the company's F5 NGINX offerings in optimizing Kubernetes traffic management and load balancing for cloud-native and hybrid cloud applications. |
Competes with the company in application security, offering solutions such as web application firewalls, bot detection and mitigation, API protection, and DDoS mitigation. Also competes in edge services and multicloud networking through F5 Distributed Cloud Services. | |
Competes with the company in application security and multicloud networking, offering solutions such as web application firewalls and carrier-grade firewalls. | |
Competes with the company in application security, offering solutions such as web application firewalls, bot detection and mitigation, and DDoS mitigation. Also competes in edge services and multicloud networking through F5 Distributed Cloud Services. | |
Competes with the company in application security, offering solutions such as web application firewalls, bot detection and mitigation, and carrier-grade firewalls. | |
Competes with the company in application security, offering solutions such as web application firewalls and carrier-grade firewalls. | |
Competes with the company in application security, offering solutions such as web application firewalls and carrier-grade firewalls. | |
Competes with the company in application security, offering solutions such as web application firewalls, bot detection and mitigation, and DDoS mitigation. | |
Thales | Competes with the company in application security, offering solutions such as web application firewalls and carrier-grade firewalls. |
Competes with the company in edge services and multicloud networking through F5 Distributed Cloud Services. | |
Aviatrix | Competes with the company in multicloud networking as a pure-play vendor. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Multiple Acquisitions | 2024 | In Q2 of fiscal 2024, F5 completed two acquisitions that involved non-material acquired assets and assumed liabilities, with the company recording $23.6 million in goodwill and no material impact on operating results. |
Lilac Cloud, Inc. | 2023 | F5 acquired Lilac Cloud, Inc. via a merger agreement (signed on January 22, 2023 and closed on February 1, 2023) to enhance its CDN technology portfolio; the deal included the adoption of equity incentive plans reserving shares for employees and consultants, with minimal financial impact. |
Threat Stack, Inc. | 2022 | F5 completed the Threat Stack, Inc. acquisition with a cash purchase of approximately $68.9 million, incurring additional transaction costs of $1.5 million, and acquired key assets including $43.956 million in goodwill, thereby bolstering its cloud security capabilities. |
Recent developments and announcements about FFIV.
Earnings
New Earnings (Q1 2025)
·Jan 28, 2025, 11:36 PMView full earnings summary →F5’s Q1 hardware revenue jumped 18% YoY on refresh demand, validating management’s double-digit growth outlook. Meanwhile, AI opportunities (secure data movement, security in inferencing) could drive further upside, but software revenue may turn lumpy after large renewals.