> ## Content Index
> Fetch the complete content index at: https://www.bullished.co/llms.txt
> Use this file to discover other available public pages before exploring further.

# F5 Product Revenue Jumps 23% As Board Adds $1.5 Billion To Buyback
- URL: https://www.bullished.co/f5-product-revenue-jumps-23-as-board-adds-1-5-billion-to-buyback-ae6838a1/
- Published: 2026-10-27T20:23:42.000Z
- Updated: 2026-10-28T15:51:58.000Z
- Description: The app-delivery and security company guided fiscal 2027 revenue growth of 8% to 9% and adjusted earnings of $18.00 to $18.30 per share.
- Author: Matteo Parrino
- Tags: Deals, FFIV, Industry: Technology

F5, which sells software, cloud services and hardware that deliver and secure applications and APIs, said fourth-quarter product revenue jumped 23% and total revenue rose 13% to [$917 million](https://www.sec.gov/Archives/edgar/data/0001048695/000104869526000074/ex991-q426earningsreleasef.htm?ref=bullished.co). In an [8-K filed Tuesday](https://www.sec.gov/Archives/edgar/data/0001048695/000104869526000074/ffiv-20261023.htm?ref=bullished.co), the company also said its board approved an additional $1.5 billion for share repurchases.

## Hardware leads the quarter

Revenue for the quarter ended September 30, 2026 compared with $810 million a year earlier. Product revenue reached $510 million against $414 million, with systems revenue up 29% to $239 million and software up 19% to $271 million. Services rose 3% to $408 million.

For the full fiscal year, revenue was $3,417 million, up 11% from $3,088 million. Product revenue grew 19% to $1,793 million.

CEO François Locoh-Donou pointed to "Nine consecutive quarters of double-digit product revenue growth."

## Margins slip, per-share profit holds

Earnings per share barely moved. Standard-accounting earnings were $3.23 per diluted share against $3.26 a year earlier, and adjusted earnings were $4.42 against $4.39.

Adjusted operating margin fell to 33.7% from 37.0%. Standard operating margin slid to 23.1% from 25.4%.

For fiscal 2026, adjusted earnings were $17.49 per share, up from $15.81.

## A bigger buyback and the outlook

The board authorized the extra $1.5 billion on October 23, on top of about $322 million left in the existing program, according to the filing. F5 spent $601 million repurchasing stock in fiscal 2026, up from $502 million the year before, its cash flow statement shows. Shares outstanding were 56,811 thousand at September 30, 2026, against 57,684 thousand a year earlier.

For fiscal 2027, F5 guided to revenue growth of 8% to 9% and adjusted earnings of $18.00 to $18.30 per share. For the first quarter, it guided to revenue of $875 million to $895 million and adjusted earnings of $4.25 to $4.37 per share.

F5 hosts a live webcast at 4:30 p.m. ET on Tuesday to walk through the results and outlook.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — F5, INC. (FFIV)](https://www.sec.gov/Archives/edgar/data/0001048695/000104869526000074/ffiv-20261023.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit ex991-q426earningsreleasef.htm — F5, INC. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001048695/000104869526000074/ex991-q426earningsreleasef.htm?ref=bullished.co) — SEC EDGAR
- [F5 to Report Q4 Earnings: What's in the Cards for the Stock?](https://finance.yahoo.com/markets/stocks/articles/f5-report-q4-earnings-whats-125400114.html?ref=bullished.co) — Yahoo Finance

### More on F5

- [F5 Stock Plunges 13%, Wiping Out $3.5 Billion, As Growth Outlook Points To A Slowdown](https://www.bullished.co/f5-stock-plunges-13-wiping-out-3-5-billion-as-growth-outlook-points-to-a-slowdown-401003de/)
- [F5 Guides Fiscal 2027 Revenue Growth To 8% To 9% As Hardware Refresh Cools In Second Half](https://www.bullished.co/f5-guides-fiscal-2027-revenue-growth-to-8-to-9-as-hardware-refresh-cools-in-second-half-d2abe345/)
- [F5 Will Double Its AI Security Sales Force In 2027 As Spending Squeezes Margins](https://www.bullished.co/f5-will-double-its-ai-security-sales-force-in-2027-as-spending-squeezes-margins-316a8e64/)

[All F5 (FFIV) coverage →](https://www.bullished.co/tag/ffiv/)