Daniel Ulrich, CPA Consolidated Bookkeeping and Management Services, Inc

This compares with GAAP operating profit of $172 million in the year-ago period, which represented GAAP operating margin of 24.3%. Non-GAAP operating profit for the period was $257 million, representing non-GAAP operating margin of 34.4%. This compares to non-GAAP operating profit of $240 million in the year-ago period, which represented non-GAAP operating margin of 33.9%. For fiscal year 2025, F5 expects to deliver total revenue growth of 4% to 5%, and non-GAAP earnings per share growth of 5% to 7% over fiscal year 2024. On a tax-neutral basis, the midpoint of F5’s fiscal year https://www.bookstime.com/ 2025 non-GAAP earnings per share guidance reflects 10% growth year over year.

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F5’s management evaluates and makes operating decisions using various operating measures. These measures are generally based on the revenues of its products, services operations, and certain costs of those operations, such as cost of revenues, research and development, sales and marketing and general and administrative expenses. This measure of non-GAAP net income is adjusted by the amount of additional taxes or tax benefit that the Company would accrue if it used non-GAAP results instead of GAAP results to calculate the Company’s tax liability. F5 is unable to provide a reconciliation of non-GAAP earnings guidance measures to corresponding U.S. generally accepted accounting principles or GAAP measures on a forward-looking basis without unreasonable effort due to the overall high variability and low visibility of most of the foregoing items that have been excluded. Material changes to any one of these items could Certified Public Accountant have a significant effect on our guidance and future GAAP results.

Reading Corporate Financial Statements

Additional information about non-GAAP financial information is included in this release. F5 also announced today that its Board of Directors has authorized an additional $1 billion for its common bookkeeping seattle stock repurchase program. This new authorization is incremental to the $422 million remaining in the existing program.

• This compares with GAAP gross profit of $566 million in the year-ago period, which represented GAAP gross margin of 80.1%.
• Material changes to any one of these items could have a significant effect on our guidance and future GAAP results.
• This compares with non-GAAP gross profit of $2.29 billion in the year-ago period, which represented non-GAAP gross margin of 81.5%.
• On a tax-neutral basis, the midpoint of F5’s fiscal year 2025 non-GAAP earnings per share guidance reflects 10% growth year over year.
• Investors should consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures in accordance with GAAP.
• This compares with GAAP gross profit of $2.22 billion in the year-ago period, which represented GAAP gross margin of 78.9%.

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• Purchased intangible assets are amortized over their estimated useful lives, and generally cannot be changed or influenced by management after the acquisition.
• Although F5’s management finds this non-GAAP measure to be useful in evaluating the performance of the core business, management’s reliance on this measure is limited because items excluded from such measures could have a material effect on F5’s earnings and earnings per share calculated in accordance with GAAP.
• F5’s management evaluates and makes operating decisions using various operating measures.
• Fourth quarter fiscal year 2024 revenue totaled $747 million, compared with $707 million in the fourth quarter of fiscal year 2023.
• Non-GAAP net income for fiscal year 2024 was $794 million, or $13.37 per diluted share, compared to $705 million, or $11.70 per diluted share, in fiscal year 2023.

F5 excludes acquisition-related charges from its non-GAAP financial measures to provide a useful comparison of the Company’s operating results to prior periods and to its peer companies. Acquisition-related charges consist of planning, execution and integration costs incurred directly as a result of an acquisition. GAAP net income for the fourth quarter of fiscal year 2024 was $165 million, or $2.80 per diluted share compared to $152 million, or $2.55 per diluted share, in the fourth quarter of fiscal year 2023.

Consolidated Bookkeeping and Management Services, Inc.

• Management believes that non-GAAP net income per share provides useful supplemental information to management and investors regarding the performance of the Company’s core business operations and facilitates comparisons to the Company’s historical operating results.
• This new authorization is incremental to the $422 million remaining in the existing program.
• F5 does not acquire businesses on a predictable cycle and the terms and scope of each transaction can vary significantly and are unique to each transaction.
• GAAP gross profit for the fiscal year 2024 was $2.26 billion, representing GAAP gross margin of 80.2%.
• F5 excludes acquisition-related charges from its non-GAAP financial measures to provide a useful comparison of the Company’s operating results to prior periods and to its peer companies.

This compares with GAAP operating profit of $473 million in the year-ago period, which represented GAAP operating margin of 16.8%. Non-GAAP operating profit for the period was $946 million, representing non-GAAP operating margin of 33.6%. This compares to non-GAAP operating profit of $850 million in the year-ago period, which represented non-GAAP operating margin of 30.2%. Fiscal year 2024 revenue totaled $2.82 billion, compared with $2.81 billion in fiscal year 2023. GAAP gross profit for the fiscal year 2024 was $2.26 billion, representing GAAP gross margin of 80.2%.

• This compares with GAAP operating profit of $172 million in the year-ago period, which represented GAAP operating margin of 24.3%.
• This compares with GAAP operating profit of $473 million in the year-ago period, which represented GAAP operating margin of 16.8%.
• Non-GAAP operating profit for the period was $946 million, representing non-GAAP operating margin of 33.6%.
• However, while the GAAP results are more complete, the Company provides investors these supplemental measures since, with reconciliation to GAAP, it may provide additional insight into the Company’s operational performance and financial results.
• Additional information about non-GAAP financial information is included in this release.

Management does not believe these charges accurately reflect the performance of the Company’s ongoing operations; therefore, they are not considered by management in making operating decisions. However, investors should note that the use of intangible assets contributed to F5’s revenues earned during the periods presented and will contribute to F5’s future period revenues as well. F5 does not acquire businesses on a predictable cycle and the terms and scope of each transaction can vary significantly and are unique to each transaction.

This compares with GAAP gross profit of $2.22 billion in the year-ago period, which represented GAAP gross margin of 78.9%. Non-GAAP gross profit for fiscal year 2024 was $2.33 billion, representing non-GAAP gross margin of 82.8%. This compares with non-GAAP gross profit of $2.29 billion in the year-ago period, which represented non-GAAP gross margin of 81.5%. A reconciliation of GAAP to non-GAAP measures is included in the attached Consolidated Income Statements.

Certain exclusions, such as amortization of intangible assets and share-based compensation expenses, are generally incurred each quarter, but the amounts have historically varied and may continue to vary significantly from quarter to quarter. Management believes that non-GAAP net income per share provides useful supplemental information to management and investors regarding the performance of the Company’s core business operations and facilitates comparisons to the Company’s historical operating results. Although F5’s management finds this non-GAAP measure to be useful in evaluating the performance of the core business, management’s reliance on this measure is limited because items excluded from such measures could have a material effect on F5’s earnings and earnings per share calculated in accordance with GAAP. Therefore, F5’s management will use its non-GAAP earnings and earnings per share measures, in conjunction with GAAP earnings and earnings per share measures, to address these limitations when evaluating the performance of the Company’s core business. Investors should consider these non-GAAP measures in addition to, and not as a substitute for, financial performance measures in accordance with GAAP.