Achieved 11% year-over-year revenue growth in Q3, driven by 19% product revenue growth and strong demand for application delivery and security solutions, particularly 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 and robust execution.
Significant customer wins across energy, government, telecom, healthcare, and AI sectors, highlighting competitive displacements and platform consolidation.
AI-driven security threats are increasing, and the company is leveraging AI to enhance customer protection and software delivery.
Q3 revenue reached $865 million, up from $780 million in Q3 FY25 (+11% YoY); product revenue $463 million (+19% YoY), systems revenue $240 million (+32% YoY), software revenue $223 million (+7% YoY), 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), up 14% YoY.
Cash and investments $1.63 billion; free cash flow $348 million in Q3; operating cash flow for nine months ended June 30, 2026, was $841 million.
FY26 revenue growth outlook raised to 9%-10%; non-GAAP EPS expected at $17.21-$17.33, up from $16.25-$16.55.
Q4 revenue expected between $870M-$890M; non-GAAP EPS between $4.14-$4.26; non-GAAP gross margin guided at 83%-84%.
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.
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