COMPANY FILINGS

F5

FFIV

For the fiscal year ended September 30, 2025, F5 provided products and services that help deliver and secure software applications across companies' own infrastructure and cloud environments.

Business description: FY2025CIK 0001048695Source: SEC EDGAR
Annual reports
5
Report coverage
2021–2025
Financial statement focus
Balance sheet
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Annual report insights

AI summary

AI-generated summaries of the cited 10-K filings. For informational purposes only; not personalized investment advice.

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Fiscal 2025

Year ended Filed

Read FY2025 annual report (opens in a new tab)
  • Net product revenue increased 18.5% in fiscal 2025 compared with fiscal 2024. Revenue from systems hardware increased 31.3%, which management attributed primarily to higher customer demand and price increases on those offerings.

    Source: 2025
  • After fiscal year-end, F5 disclosed on October 15, 2025 that a threat actor had maintained unauthorized access to certain systems and taken files containing portions of BIG-IP source code and information about undisclosed vulnerabilities. As of the filing, F5 said the incident had not materially affected operations.

    Source: 2025
View full 10-K summary 2025Hide full 10-K summary 2025

Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.

Positive signals

  • Operating cash

    Cash provided by operating activities was US$949.7 million in fiscal 2025, compared with US$792.4 million in fiscal 2024.

    Source: 2025

Negative signals

  • SaaS revenue

    Within product revenue, revenue from software delivered as an online service (SaaS) and services operated for customers (managed services) declined in fiscal 2025 compared with fiscal 2024, despite the increase in overall product revenue.

    Source: 2025
  • Incident outlook

    At filing, management anticipated incident-related sales-cycle disruption, with demand effects more pronounced early in fiscal 2026 and normalizing in its second half. It warned of a possible near-term impact on operating margin, the share of revenue remaining as operating profit, and expected additional incident-response expenses during fiscal 2026; these were forward-looking assessments, not realized fiscal 2025 results.

    Source: 2025

Business context

  • CalypsoAI

    F5 acquired enterprise AI security provider CalypsoAI on September 26, 2025 for US$145.2 million in cash. Management planned to integrate its capabilities into the F5 Application Delivery and Security Platform to enhance security when AI models process new inputs to produce results (AI inference); the acquisition was completed, but that integration was described as a future development.

    Source: 2025

Business in fiscal 2025

For the fiscal year ended September 30, 2025, F5 provided products and services that help deliver and secure software applications across companies' own infrastructure and cloud environments.

Source: 2025

5-year changes

FY2021–FY2025

These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.

  • Hardware

    In its fiscal 2021 report, F5 warned that unavailable components could hinder hardware assembly. In fiscal 2022, it reported that pandemic-related component constraints had lengthened shipment lead times and delayed fulfillment of some hardware orders. By fiscal 2025, systems revenue increased 31.3% from fiscal 2024; management attributed that increase primarily to higher customer demand and price increases on systems offerings.

    Source: 2021, 2022, 2025
  • Borrowing

    At September 30, 2021, F5 had $370.0 million of outstanding term-loan principal, meaning the loan balance before interest and debt-issuance costs. On December 15, 2022, during fiscal 2023, it repaid all remaining term-loan borrowings, including $350.0 million of principal and $3.0 million of accrued unpaid interest. Separately, its $350.0 million revolving credit facility, a borrowing line, expired on January 31, 2025 with no outstanding borrowings.

    Source: 2021, 2023, 2025
  • Cyber incident

    At the fiscal 2024 filing date, F5 said it did not believe cybersecurity threats had materially affected, or were reasonably likely to materially affect, the company. Its fiscal 2025 report disclosed an incident announced on October 15, 2025, after fiscal year-end, involving persistent unauthorized access and theft of files containing portions of BIG-IP source code. At the 2025 filing date, F5 said operations had not been materially affected, but management anticipated sales-cycle disruption affecting demand early in fiscal 2026 and normalizing in its second half.

    Source: 2024, 2025
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FINANCIAL STATEMENTS

Balance sheet

A snapshot of what F5 owns and owes at a point in time.

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Read the company’s balance sheet in the original annual reports below.

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Annual reports & SEC 10-K filings

SEC EDGAR

5 reports in this collection

Original SEC annual reports, with report period and filing date
Report periodFiled with SECFormSource
Sep 30, 20250001048695-25-000157Nov 25, 202510-KOpen 10-Ksec.govRead FY2025 summary
Sep 30, 20240001048695-24-000185Nov 18, 202410-KOpen 10-Ksec.gov
Sep 30, 20230001048695-23-000039Nov 14, 202310-KOpen 10-Ksec.gov
Sep 30, 20220001048695-22-000033Nov 15, 202210-KOpen 10-Ksec.gov
Sep 30, 20210001048695-21-000044Nov 16, 202110-KOpen 10-Ksec.gov

Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.