- Long-Term Revenue Growth Disappoints
- Declining Billings Reflect Product and Sales Weakness
- Long Payback Periods Delay Returns
"F5’s recent customer acquisition efforts haven’t yielded returns as its CAC payback period was negative this quarter, meaning its sales and marketing investments outpaced its revenue. The company’s inefficiency indicates it operates in a highly competitive environment where there is little differentiation between F5’s products and its peers.
F5 isn’t a terrible business, but it doesn’t pass our quality test."
https://finance.yahoo.com/news/three-reasons-why-ffiv-risky-090917760.html