F5, Inc. reported $2.20B of remaining performance obligations at 30 Jun 2026, up 10% from a year earlier and up 5% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.12.
Net new backlog added in the latest quarter: $100M.
Over the last twelve months it turned about 161% of its opening backlog into revenue (12-month conversion).
Customer prepayments (contract liabilities) cover 99.7% of the backlog.
Twelve-month book-to-bill: 1.06, i.e. 1.06 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +1 points — orders are running ahead of revenue.
By backlog size it ranks 174th among US filers the cockpit tracks.
F5, Inc. backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Jun 2026
$2.20B
$3.31B
0.7 yrs
$2.19B
31 Mar 2026
$2.10B
$3.22B
0.7 yrs
$2.12B
31 Dec 2025
$2.10B
$3.14B
0.7 yrs
$2.06B
30 Sep 2025
$2.00B
$3.09B
0.6 yrs
$2.00B
30 Jun 2025
$2.00B
$3.02B
0.7 yrs
$1.96B
31 Mar 2025
$1.90B
$2.94B
0.6 yrs
$1.92B
31 Dec 2024
$1.90B
$2.89B
0.7 yrs
$1.95B
30 Sep 2024
$1.80B
$2.82B
0.6 yrs
$1.80B
30 Jun 2024
$1.80B
$2.78B
0.6 yrs
$1.77B
31 Mar 2024
$1.80B
$2.78B
0.6 yrs
$1.81B
31 Dec 2023
$1.80B
$2.81B
0.6 yrs
$1.83B
30 Sep 2023
$1.80B
$2.81B
0.6 yrs
$1.78B
Questions
What is F5, Inc.'s backlog?
F5, Inc. reported $2.20B of remaining performance obligations at 30 Jun 2026, up 10% from a year earlier and up 5% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.12.
How fast does F5, Inc.'s backlog turn into revenue?
Over the last twelve months F5, Inc. recognised revenue equal to about 161% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.