Salesforce's Agentforce Growth vs F5's AI Security Momentum: A Financial Comparison
On September 2, F5 (NASDAQ:FFIV) announced a strategic integration with MuleSoft, a subsidiary of Salesforce (NYSE:CRM), to federate its AI Guardrails into the latter’s Agent Fabric Omni Gateway. This move aims to address growing security concerns around agentic AI by providing centralized policy enforcement and threat mitigation without requiring major infrastructure changes. Financially, F5 reported strong Q3 FY26 results with $865 million in revenue (up 11% YoY), driven largely by a 32% increase in systems revenue. It also delivered robust non-GAAP operating margins of 35%. Salesforce recorded higher overall performance in its record Q2 FY27, reporting $11.3 billion in quarterly revenue and growing Agentforce ARR to nearly $3.9 billion with 210% YoY growth. While both companies maintain similar profitability levels (~34–35%), Salesforce benefits from a larger scale, higher free cash flow generation, and broader ecosystem dominance. Institutional investors also show stronger conviction in Salesforce’s AI narrative compared to F5's more niche security focus.
Topics: AgentForce AI security F5 MuleSoft integration Q3 results revenue growth Salesforce