F5 makes networking and application security software and hardware that businesses use to manage, secure and optimize the delivery of applications across data centers and cloud computing environments. Its products help ensure that business applications remain available, secure and perform well as traffic scales, functioning as critical infrastructure sitting between users and the applications they access. F5 has transitioned much of its business from traditional hardware appliances toward software and subscription-based licensing, following a broader industry shift toward more flexible, cloud-compatible delivery models. The company's revenue is tied to enterprise IT spending on application infrastructure and security, an area that continues to evolve as businesses run applications across increasingly complex combinations of on-premises data centers and multiple public cloud providers.