F5 reported GAAP revenue of $583 million for the third quarter of its fiscal year 2020, reflecting 4% growth from $563 million in the third quarter of fiscal year 2019. GAAP net income for the third quarter of fiscal year 2020 was $70 million, or $1.14 per diluted share compared to third quarter fiscal year 2019 GAAP net income of $86 million, or $1.43 per diluted share.
“Large enterprise customers are accelerating their digital transformations, increasing their digital engagement, and boosting capacity and security on customer facing applications and on platforms that enable employee collaboration,” said François Locoh-Donou, CEO and President of F5.
Some highlights:
- Product bookings: Government 18%, Enterprises 67%, Service Providers 15%
- F5 is nearly 100% work-from-home and expect the majority of F5ers will work remotely for the remainder of CY20
- Subscriptions accounted for 73% of Q3FY20 software revenue
- In Q3FY20, F5 closed the largest number of subscription deals ever in a quarter
