...A. Highlights: Against backdrop of continued tough environment: 1. Delivered 1Q revenue at midpoint of guidance range. a. b. EPS above high-end of range. 2. Came into 1Q expecting to see deteriorating close rates and dynamics concentrated in EMEA and APAC in 4Q22, would spread to North America. 3. Experienced heightened budget scrutiny, and more pervasive deal delays across all geographies. 4. Dynamics are particularly challenging on larger transformational type projects, which for FFIV tend to be software focused. 5. Like 4Q22, new multi-year subscriptions were most affected. 6. Not planning on YoverY growth from new software business this year. In 1Q, it was down double-digit percentage YoverY. a. 7. Based on customer feedback, believes it's seeing impact of financial decisions, resulting from broader economic uncertainty, pervasive budget scrutiny and spending caution as opposed to technological, competitive or architectural decisions. 8. In contrast to new software business, software...
