Achieved 11% year-over-year revenue growth in Q3 FY26, driven by 19% product revenue growth and strong demand for application delivery and security solutions, especially in AI and hybrid multi-cloud environments.
Eight consecutive quarters of double-digit product growth, reflecting expanding relevance due to AI-driven application complexity and security needs.
Raised FY26 revenue growth outlook to 9%-10%, up from 7%-8%, reflecting durable demand tailwinds and robust execution.
Significant customer wins across energy, government, telecom, healthcare, and AI sectors, highlighting competitive displacements and platform consolidation.
Completed the acquisition of SurePath AI, Inc. to enhance AI security platform capabilities.
Q3 FY26 revenue reached $865 million, up 11% YoY; product revenue $463 million (+19% YoY), systems revenue $240 million (+32% YoY), software revenue $223 million (+7% YoY), and services revenue $402 million (+3% YoY).
Recurring revenue sources contributed 69% of Q3 revenue; 90% of software revenue from subscriptions.
GAAP gross margin 82.2%, non-GAAP gross margin 84.2%; GAAP operating margin 24.7%, non-GAAP 35%.
GAAP net income $208 million ($3.62/share); non-GAAP net income $272 million ($4.73/share), both up year-over-year.
Cash and investments $1.63 billion at quarter-end; free cash flow $281 million for Q3, $841 million for nine months.
Q4 FY26 revenue expected between $870 million and $890 million; non-GAAP EPS between $4.14 and $4.26.
FY26 revenue growth outlook raised to 9%-10%; non-GAAP EPS expected at $17.21-$17.33.
FY26 non-GAAP gross margin expected at 83.5%-84%; non-GAAP operating margin 34.5%-35.5%.
Full-year share repurchases to be at least 50% of free cash flow.
Management expects continued strong cash flows driven by net income from operations.
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