ATEN
A10 Networks, Inc.18.03
+0.23+1.29%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A reaffirms momentum, nuances SP mix.
Q&A largely reaffirmed the scripted story of record Q4 revenue at $80.4 million and 10-12% 2026 growth guide, with management attributing momentum to diversified drivers. Service provider gains blended cloud AI infrastructure plus nascent telco recovery on security and capacity, beyond prepared emphasis on cloud. Enterprise expansion via large-logo displacements proved choppy quarterly but solid TTM. CapEx uptick funded services backend and AI POCs. APJ drag centered on Japan macro. No curveballs. AI-driven DDoS looms unquantified. Watch telco spending revival.
Key Stats
Market Cap
1.30BP/E (TTM)
26.13Basic EPS (TTM)
0.69Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
A10 Networks posted FY2025 revenue of $290.6M, up 11% y/y, with products surging 20% to $167.1M on Americas strength (up 30%) despite APJ softness (down 19%); services edged 1% higher to $123.5M. Gross margin slipped to 79.3% from 80.4%, products improved to 80.0% on mix while services fell to 78.4% from higher support costs and a $1M asset impairment. Operating income rose 7% to $47.1M, but net income dipped 16% to $42.1M after $6.1M 2030 Notes interest; Q4 drove momentum with acceleration in U.S. service providers and enterprises. Strong cash flow funded $69M buybacks, $17M dividends, ThreatX acquisition, and $225M debt raise—$53M remains for repurchases. Reliance on a few large customers risks quarterly volatility.
8-K
Record revenue, dividend declared
A10 Networks posted record 2025 revenue of $290.6 million, up 11% from 2024, with non-GAAP gross margin at 80.6% and Adjusted EBITDA of $86.0 million. Security-led revenue hit two-thirds of total, fueled by AI infrastructure demand. Board declared $0.06 quarterly dividend, payable March 2 to February 16 record holders. Dividends face capital needs risks.
8-K
Q3 revenue up 11.9%
10-Q
Q3 FY2025 results
A10 Networks posted Q3 revenue of $74.7M, up 12% y/y, driven by 17% product growth to $43.1M from service providers in Americas (65% of total). Gross margin held steady at 80.1%, operating income rose 24% y/y to $13.0M, diluted EPS flat at $0.17 on buybacks. Operating cash flow stayed robust at $62.2M YTD; free cash flow not disclosed in the 10-Q. Balance sheet strengthened with $371M in cash and marketable securities against $218.5M convertible notes due 2030 (2.75%), plus February ThreatX acquisition for $19.1M cash recognizing $13.8M goodwill and $7.6M intangibles (4-5 years). Closed ThreatX in February 2025. Tariffs threaten supply costs.
8-K
A10 Networks CFO transition
A10 Networks announced on September 5, 2025, that CFO Brian Becker will resign effective September 30, 2025, after instituting strong financial processes, while agreeing to aid the transition. Michelle Caron, with over 20 years in finance from Danaher subsidiaries, steps in as CFO on September 24, 2025, with a $400,000 base salary, $150,000 signing bonus, and up to $500,000 in equity awards. No operational disruptions expected. Leadership transitions carry integration risks.
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