F5 Networks Inc Q4 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Francois, I guess, I just wanted to ask you on the -- your targets that you have for 2025, you're already delivering, 8% to 9% is your target for next year. That's about Horizon 2. In how you're thinking about kind of progress from here, does it tax rate being moved towards the 2025 targets of double-digit growth? Do you see this kind of setting up a base where you get to those targets faster than you expected? The reason I'm asking is, I guess, with all the enterprise IT companies talking about strong demand, we often get the question from investors of how much of this strength is really secular versus maybe in some parts, cyclical and driven by investment cycle from the enterprise customers. So just trying to get better with kind of how you're thinking about how this sets up for the out years. And I have a follow-up.

Question: Samik Chatterjee - JPMorgan Chase & Co, Research Division - Analyst : Francois, just to follow up there in terms of positioning the company and you talked about application security being one of the strongest growth areas that you're looking. I mean, should we assume that most of the M&A that you evaluate going forward is that we focused on that segment?