F5, Inc.

Good afternoon and welcome to the F5 Network second quarter fiscal 2021 financial results conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. Also, today's conference is being recorded. If anyone has any objections, please disconnect at this time. I'll now turn the call over to Ms. Suzanne Dulong. Ma'am, you may begin.

Hello and welcome. I'm Suzanne Dulong, F5's Vice President of Investor Relations. Francois Locodinou, F5's President and CEO, and Frank Peltzer, F5's Executive Vice President and CFO, will be making prepared remarks on today's call. Other members of the F5 executive team are also on hand to answer questions during the Q&A session. A copy of today's press release is available on our website at F5.com, where an archived version of today's call will be available through July 25th, 2021. Today's live discussion is supported by slides, which are viewable on the webcast and will be posted to our IR site at the conclusion of today's discussion. To access the replay of today's call by phone, dial 800-585-8367 or 416-621-4642 and use meeting ID 3461547. The telephonic replay will be available through midnight Pacific time, April 28th. For additional information or follow-up questions, please reach out to me directly at s.dulong at f5.com. Our discussion today will contain forward-looking statements, which include words such as believe, anticipate, expect, and target. These forward-looking statements involve uncertainties and risks that may cause our actual results to differ materially from those expressed or implied by these statements. Factors that may affect our results are summarized in the press release announcing our financial results and described in detail in our SEC filings. Please note that F5 has no duty to update any information presented in this call. With that, I'll turn the call over to Francois.

Thank you, Suzanne, and good afternoon, everyone. Thank you for joining us today. I am pleased to be with you and to share with you our strong Q2 results. With a second consecutive quarter of 10% revenue growth and double-digit non-GAAP earnings growth in Q2, we are outperforming both our revenue and EPS goals. It is important to note that we achieved Q2 strong results with a different revenue mix than we expected early in the quarter. We delivered exceptional systems growth of 17%, while software growth was more muted than our expectation at 20%. During this call, we will discuss the market dynamics behind our product revenue mix in the quarter. The transformation we have worked persistently to achieve has put us at the center of applications, both traditional and modern, with a truly multi-cloud approach. As a result, we are benefiting from strong and sustainable macro growth drivers, ultimately powered by application growth. Business and consumers' increasing reliance on applications has accelerated all prior expectations about the pace of digital transformation. Our customers across the globe are scaling their digital assets faster, resulting in growing demand for F5's application security and delivery solutions. With our strong overall results, our conviction in our opportunity, both short and long term, is stronger than ever, driven fundamentally by accelerating application growth. We feel very good about our future, given robust demand drivers and our strong and differentiated market position. I will turn the call over to Frank to walk you through our Q2 results and our Q2 outlook. Frank?