10-K · February 25, 2026
A10 Networks positions itself as a provider of high-performance, integrated application delivery and network security solutions built on its ACOS platform and organized across Legacy Networking, Next-Generation…
Earnings analysis · 10-Q
ATEN earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
A10 Networks delivered a strong performance in Q1 2026, with total revenue reaching $75 million, a 13% increase from $66.1 million in Q1 2025. The gross margin slightly declined to 79.6%, but the operating margin…
Read full summary
A10 Networks delivered a strong performance in Q1 2026, with total revenue reaching $75 million, a 13% increase from $66.1 million in Q1 2025. The gross margin slightly declined to 79.6%, but the operating margin improved to 17.3%. EPS of $0.24 exceeded consensus estimates by 2 cents. The management expects continued investment in growth areas, despite challenges such as fluctuating demand in specific regions.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.24
What stood out
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Strong Revenue Growth
Q1 2026 revenue reached $75 million, a 13% increase from $66.1 million in Q1 2025.
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EPS Beats Estimates
EPS of $0.24 exceeded estimates of $0.22, a surprise of 9.1%.
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Enterprise Segment Surge
Revenue from enterprise customers grew by $15.1 million, which contributed to the overall revenue increase.
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Decrease in Debt
Net cash and marketable securities total $369.8 million, indicating financial stability.
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Operating Cash Flow
Operating cash flow was $2.2 million, albeit lower compared to $17.2 million in Q1 2025.
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Continued Dividends
The company paid cash dividends of $4.3 million in Q1 2026, maintaining its quarterly distribution.
What to watch
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Decrease in APJ Revenue
Revenue from the APJ region decreased by $4.4 million, reflecting reduced demand from service provider customers.
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Cash Flow Decline
Operating cash flow significantly decreased to $2.2 million from $17.2 million year-over-year.
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Increased Operating Expenses
Total operating expenses increased by 6.4% to $46.7 million, affecting profitability.
Management's outlook
Maintained full-year guidance for 10–12% revenue growth and 12–14% EPS growth year-over-year.
Earlier filings 4
10-Q · November 7, 2024
A10 Networks reported Q3 net revenue of $66.721M, up $8.946M (+15.5%) versus Q3 2023, with gross profit of $53.682M (~80.5% gross margin) and operating income of $10.443M (15.7% operating margin). GAAP net income was…
10-Q · July 30, 2024
A10 Networks reported Q2 net revenue of $60.096M, down 8.7% year-over-year from $65.817M but roughly flat sequentially (Q1 revenue $60.675M). Gross margin held near 80.0% (48,058/60,096) while operating income fell to…
10-K · February 29, 2024
A10 Networks positions itself as a "leading provider of networking solutions" focused on secure application delivery across on‑premise, cloud and hybrid environments and is explicitly pushing its product mix from…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.