F5

Q3 FY2026 EarningsQ3 FY26 beat consensus across all key financial metrics, driven by a 32.4% YoY surge in systems revenue. Net revenue reached $865.1M vs. $833.6M expected, and normalized EPS of $3.62 comfortably exceeded the $2.91 GAAP mean consensus. Despite rising R&D and professional service costs linked to a 2025 cyber incident, the company maintained a robust gross margin of 82.2%. Strong collections propelled cash from operations to $841.4M for the first nine months, significantly outperforming historic levels and reinforcing a healthy $1.6B cash position.