Application security company F5 Networks delivered better-than-expected fourth-quarter financial results, reporting non-GAAP net income of $185 million, or $3.01 per diluted share, on revenue of non-GAAP $617 million.
The fourth-quarter fiscal year 2021 GAAP revenue was $682 million, beating Wall Street’s expectations of $671.51 million and $2.75 per share earnings.
This year, the company announced that it would acquire distributed multi-cloud application security and load-balancing software company Volterra of Santa Clara, California. F5 Networks also announced last month that it is acquiring cloud security company Threat Stack for $68 million.
F5 shares are up 2% at $208.12 in after-hours trading.
For fiscal year 2021, F5 delivered GAAP revenue of $2.60 billion, up 11% year over year. The company said its revenue growth was driven by 21% product revenue growth and 2% global services revenue growth compared to last year.
F5 expects to deliver revenue in the range of $665 million to $685 million, with non-GAAP earnings in the range of $2.71 to $2.83 per diluted share for Q1.
François Locoh-Donou, F5’s president and CEO, said the strong Q4 caps a “year of robust financial performance for F5.”
“With software revenue representing 45% of