two Q4 2026 Earnings Recap

F5 shares fell 20.4% after earnings, with the likely disappointment being FY27 revenue growth guidance of 8%–9% despite Q4 revenue finishing above the company’s guidance range. Management said FY26 ended well above its investor-event expectations, raising the hurdle for the coming year.

Key Takeaways

• Q4 revenue was $917 million, up 13% year over year and above the top end of guidance; product revenue grew 23%.
• FY26 revenue reached $3.4 billion, up 11%, with product revenue up 19%.
• For FY27, F5 expects revenue growth of 8%–9% and a third consecutive year of double-digit product revenue growth.
• F5 said more than 300 customers were deploying its AI-powered WAF capabilities by quarter-end; over 75% of those deployments were in blocking mode.
• F5 Insight, launched in March, had gained more than 200 customers, according to management.