FFIV · 10-Q · 2026Q2 · Full report

Distribution Channels

F5, INC. · 2026-08-06 · Importance 37 · Surprise 6

F5 markets and sells its products primarily through multiple indirect sales channels across the Americas, EMEA, and APAC. Enterprise customers, including Fortune 1000 and Business Week Global 1000 companies, remain the largest portion of the customer base, alongside government customers and service providers. Distributor concentration is material: Customer A represented 17.0% of nine-month net revenue and Customer B represented 18.4%, while no end-user customer exceeded 10% of net revenue. The company states that customer acceptance of new products, feature enhancements, and consumption models, as well as the ability of sales professionals and distribution partners to sell new offerings, are indicators of future trends.