NYSE$ATEN

A10 Networks Inc · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

A10 Networks reported a revenue increase of 14.3% year-over-year in Q1 2022, driven by security-led solutions and growth in the Americas.

A10 Networks reported a strong first quarter in 2022, with revenue reaching $62.7 million, a 14.3% increase year-over-year. The growth was driven by the company's security-led product revenue, which grew by 20.1% year-over-year, and a 25.5% increase in revenue from the Americas. The company's GAAP net income was $6.3 million, or $0.08 per diluted share, while non-GAAP net income was $10.0 million, or $0.13 per diluted share.

  • Revenue increased by 14.3% year-over-year, reaching $62.7 million.
  • Security-led product revenue grew by 20.1% year-over-year.
  • Revenue growth in the Americas increased by 25.5% year-over-year.
  • GAAP net income was $6.3 million, or $0.08 per diluted share, while non-GAAP net income was $10.0 million, or $0.13 per diluted share.

Headline financials

Total Revenue

$62.7M

Previous: $54.8M+14.3%
EPS (adj)

$0.13

Previous: $0.12+8.3%
Adjusted EBITDA

$13.5M

Previous: $13M+3.8%
Capital Expenditures

-$3.14M

Previous: -$769K-307.9%
Free Cash Flow

$3.21M

Previous: $1.89M+70.1%
Net Income

$6.35M

Previous: $2.66M+139.0%
Operating Income

$8M

Previous: $4.02M+98.9%
Gross Profit

$49.8M

Previous: $42.3M+17.7%
Cash & Equivalents

$67.8M

Previous: $75.7M-10.5%
Total Assets

$362M

Previous: $292M+24.1%
Stock-Based Comp

$3.45M

Previous: $4.4M-21.5%

Revenue & EPS history

A10 Networks · Revenue · Quarterly

$62.7M

Q1 2022+14.3%vs Q1 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

A10 Networks · $57.8M total across 2 segments · Q3 2023

  • Products
    $30.3M
  • Services
    $27.5M

Forward guidance

A10 Networks anticipates achieving the high end of its full year targets around top line growth of 10 – 12% and expanding EBITDA in the range of 26 – 28%.

Tailwinds

  • Expects to achieve high end of full year targets.
  • Targeting top line growth of 10-12%.
  • Expanding EBITDA in the range of 26-28%.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+2.9%

Avg return

Earnings day

+1.6%

Avg return

5 days after

+2.8%

Avg return

30 days after

62%

33 / 53 earnings

Positive

+37.6%

Q3 2021

Best reaction

-18.7%

Q4 2014

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.6%-3.9%+6.8%
Q4 2025+10.3%+19.4%+16.8%
Q3 2025+3.5%-1.8%+1.4%
Q1 2025-0.6%+2.9%+4.9%
Q4 2024+2.7%+1.3%-2.9%
Q3 2024+6.3%+9.4%+19.0%
Q2 2024-7.1%-7.5%-2.3%
Q1 2024+14.7%+13.1%+12.7%
Q4 2023+0.2%+2.4%+4.0%
Q3 2023+6.6%+9.4%+14.3%
Q2 2023+5.3%+6.2%+0.3%
Q1 2023-2.3%-2.1%+5.5%
Q4 2022-4.5%-3.9%-5.3%
Q3 2022+8.2%+8.7%+13.0%
Q2 2022+3.5%+2.1%-11.8%
Q1 2022+14.0%+1.4%+9.5%
Q4 2021-5.9%-5.5%-3.1%
Q3 2021+37.6%+13.7%+12.2%
Q2 2021+9.9%+12.4%+21.9%
Q1 2021-8.3%-9.2%+3.0%
Q4 2020-12.4%-17.2%-9.4%
Q3 2020+5.4%-1.0%+19.4%
Q2 2020+14.2%+11.8%+19.1%
Q1 2020+8.2%-1.6%+3.3%
Q4 2019+0.0%+0.1%-39.8%
Q3 2019+12.9%+11.5%+4.0%
Q2 2019+2.3%-2.6%-6.1%
Q1 2019-5.7%-9.7%-13.1%
Q4 2018-7.6%-4.9%-1.9%
Q3 2018+3.8%+10.4%+12.3%
Q1 2018+1.0%-4.2%-11.9%
Q2 2018+1.0%-4.2%-11.9%
Q4 2017-0.3%+0.3%-12.5%
Q3 2017+0.9%-0.9%+9.6%
Q2 2017+12.7%+12.6%-0.5%
Q1 2017-11.7%-13.4%-8.3%
Q4 2016+14.7%+17.1%+10.2%
Q3 2016-17.7%-15.7%-5.3%
Q2 2016+4.1%+5.7%+31.2%
Q1 2016-9.7%
Q4 2015+13.4%
Q3 2015+20.5%
Q2 2015+24.5%
Q1 2015+16.3%
Q4 2012+5.6%
Q4 2014-18.7%
Q3 2013+0.5%
Q3 2014+7.1%
Q2 2013-5.8%
Q2 2014-13.3%
Q1 2013-1.4%
Q4 2013-1.4%
Q1 2014-5.3%
Q3 2012

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