---
schema_version: "secwatch.filing_event.v1"
accession: "0001048695-23-000016"
form_type: "8-K"
ticker: "FFIV"
cik: "0001048695"
company_name: "F5, INC."
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-16T23:16:19.440274+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# F5 Q2 revenue up 11% to $703M; cuts 9% of workforce, lowers FY revenue growth guidance

## Summary
- Q2 revenue $703M (+11% YoY); GAAP EPS $1.34, non-GAAP $2.53; systems +43%, software -13%.
- Reduces headcount by ~620 employees (~9%); expects annualized savings ~$130M and $45M severance in FY23.
- Revises FY23 outlook: low-to-mid single-digit revenue growth, ~30% non-GAAP margins, 7%-11% EPS growth.
- Q3 guidance: revenue $690M-$710M, non-GAAP EPS $2.78-$2.90; plans $250M+ in share repurchases.

## SEC filing metadata
- accession: 0001048695-23-000016
- form_type: 8-K
- ticker: FFIV
- cik: 0001048695
- company_name: F5, INC.
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 2.05, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1048695/000104869523000016/0001048695-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1048695/000104869523000016/ffiv-20230419.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001048695-23-000016
- JSON: https://secwatch.observer/filing/0001048695-23-000016.json
- Plain text: https://secwatch.observer/filing/0001048695-23-000016.txt

## Key facts
- Earnings Releases
  F5, INC. reported second quarter ended March 31, 2023 results: revenue $703 million, net income $81 million, EPS $1.34 per diluted share. Guidance lowered.
  - Period: second quarter ended March 31, 2023
  - Revenue: $703 million
  - Net income: $81 million
  - EPS: $1.34 per diluted share
  - Guidance: lowered
  - Result: reported results
  source text: their hybrid and multi cloud application environments.” Second Quarter Performance Summary Second quarter fiscal year 2023 revenue grew 11% from the year ago period, to $703 million, up from $634 million in fiscal year 2022. Global services revenue grew 8% from the year-ago period while product revenue grew 14%, reflecting 43% systems revenue growth and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1048695/000104869523000016/0001048695-23-000016-index.htm
- Restructurings & Charges
  F5, INC. announced a restructuring with charges of approximately $45 million in severance benefits costs (approximately 620 employees).
  - Type: restructuring
  - Charge: approximately $45 million in severance benefits costs
  - Headcount: approximately 620 employees
  source text: estimates the expenses associated with the headcount reductions will result in annualized savings of approximately $130 million. The Company expects it will incur approximately $45 million in severance benefits costs related to restructuring and other charges related to these actions in fiscal year 2023. The Company will also reduce some of its leased facilities
  evidence_url: https://www.sec.gov/Archives/edgar/data/1048695/000104869523000016/0001048695-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.