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A10 Networks Inc Financials

ATEN
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows A10 Networks Inc (ATEN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 66 / 100
Financial Profile 66/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
58

A10 Networks Inc has an operating margin of 16.2%, meaning the company retains $16 of operating profit per $100 of revenue. This results in a moderate score of 58/100, indicating healthy but not exceptional operating efficiency. This is down from 16.8% the prior year.

Growth
52

A10 Networks Inc's revenue grew 11.0% year-over-year to $290.6M, a solid pace of expansion. This earns a growth score of 52/100.

Leverage
81

A10 Networks Inc carries a low D/E ratio of 1.03, meaning only $1.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
69

With a current ratio of 3.56, A10 Networks Inc holds $3.56 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 69/100.

Cash Flow
81

A10 Networks Inc converts 22.3% of revenue into free cash flow ($64.8M). This strong cash generation earns a score of 81/100.

Returns
55

A10 Networks Inc's ROE of 19.9% shows moderate profitability relative to equity, earning a score of 55/100. This is down from 21.6% the prior year.

Altman Z-Score Safe
3.94

A10 Networks Inc scores 3.94, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.8B) relative to total liabilities ($418.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

A10 Networks Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.01x

For every $1 of reported earnings, A10 Networks Inc generates $2.01 in operating cash flow ($84.9M OCF vs $42.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
8.0x

A10 Networks Inc earns $8.0 in operating income for every $1 of interest expense ($47.1M vs $5.9M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$290.6M
YoY+11.0%
5Y CAGR+5.2%
10Y CAGR+4.0%

A10 Networks Inc generated $290.6M in revenue in fiscal year 2025. This represents an increase of 11.0% from the prior year.

EBITDA
$62.0M
YoY+12.2%
5Y CAGR+16.4%

A10 Networks Inc's EBITDA was $62.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 12.2% from the prior year.

Net Income
$42.1M
YoY-16.0%
5Y CAGR+18.8%

A10 Networks Inc reported $42.1M in net income in fiscal year 2025. This represents a decrease of 16.0% from the prior year.

EPS (Diluted)
$0.57
YoY-14.9%
5Y CAGR+21.0%

A10 Networks Inc earned $0.57 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 14.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$64.8M
YoY-17.2%
5Y CAGR+4.6%

A10 Networks Inc generated $64.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 17.2% from the prior year.

Cash & Debt
$71.1M
YoY-25.2%
5Y CAGR-3.1%
10Y CAGR-3.2%

A10 Networks Inc held $71.1M in cash against $218.8M in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.24
YoY+0.0%

A10 Networks Inc paid $0.24 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding
71M
YoY-3.0%
5Y CAGR-1.3%
10Y CAGR+1.1%

A10 Networks Inc had 71M shares outstanding in fiscal year 2025. This represents a decrease of 3.0% from the prior year.

Margins & Returns

Gross Margin
79.3%
YoY-1.0pp
5Y CAGR+1.6pp
10Y CAGR+4.0pp

A10 Networks Inc's gross margin was 79.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.0 percentage points from the prior year.

Operating Margin
16.2%
YoY-0.6pp
5Y CAGR+8.4pp
10Y CAGR+36.8pp

A10 Networks Inc's operating margin was 16.2% in fiscal year 2025, reflecting core business profitability. This is down 0.6 percentage points from the prior year.

Net Margin
14.5%
YoY-4.7pp
5Y CAGR+6.6pp
10Y CAGR+35.8pp

A10 Networks Inc's net profit margin was 14.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 4.7 percentage points from the prior year.

Return on Equity
19.9%
YoY-1.7pp
5Y CAGR+4.6pp
10Y CAGR+73.5pp

A10 Networks Inc's ROE was 19.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.7 percentage points from the prior year.

Capital Allocation

R&D Spending
$69.1M
YoY+19.7%
5Y CAGR+3.5%
10Y CAGR+2.3%

A10 Networks Inc invested $69.1M in research and development in fiscal year 2025. This represents an increase of 19.7% from the prior year.

Share Buybacks
$68.9M
YoY+129.1%
5Y CAGR+16.2%

A10 Networks Inc spent $68.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 129.1% from the prior year.

Capital Expenditures
$20.1M
YoY+64.1%
5Y CAGR+41.4%
10Y CAGR+19.2%

A10 Networks Inc invested $20.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 64.1% from the prior year.

ATEN Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $80.4M+7.6% $74.7M+7.6% $69.4M+4.9% $66.1M-10.9% $74.2M+11.2% $66.7M+11.0% $60.1M-1.0% $60.7M
Cost of Revenue $17.1M+15.3% $14.8M+1.1% $14.7M+9.2% $13.4M-9.8% $14.9M+14.3% $13.0M+8.3% $12.0M+5.2% $11.4M
Gross Profit $63.3M+5.7% $59.9M+9.4% $54.7M+3.8% $52.7M-11.1% $59.3M+10.5% $53.7M+11.7% $48.1M-2.4% $49.2M
R&D Expenses $18.6M+1.1% $18.4M+13.0% $16.3M+2.2% $15.9M+20.5% $13.2M-16.2% $15.7M+6.8% $14.7M+4.8% $14.1M
SG&A Expenses $7.2M+3.6% $7.0M-3.2% $7.2M-15.3% $8.5M+39.0% $6.1M-6.1% $6.5M+9.1% $6.0M-11.7% $6.7M
Operating Income $15.1M+15.9% $13.0M+26.0% $10.3M+17.5% $8.8M-52.3% $18.4M+76.2% $10.4M+31.9% $7.9M+9.7% $7.2M
Interest Expense $1.8M-5.3% $1.9M0.0% $1.9M+533.3% $300K N/A N/A $1.8M+4.8% $1.7M
Income Tax $6.2M+241.7% $1.8M+29.5% $1.4M+48.8% $935K-70.8% $3.2M+83.0% $1.8M+16.3% $1.5M+0.9% $1.5M
Net Income $9.9M-19.1% $12.2M+15.7% $10.5M+10.4% $9.5M-47.9% $18.3M+44.8% $12.6M+33.4% $9.5M-2.6% $9.7M
EPS (Diluted) N/A $0.17+21.4% $0.14+7.7% $0.13 N/A $0.17+30.8% $0.130.0% $0.13

ATEN Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $629.8M+1.6% $620.1M+2.0% $607.9M+0.3% $606.2M+40.1% $432.8M+6.1% $407.7M+2.7% $397.2M+0.4% $395.7M
Current Assets $476.0M+1.6% $468.7M+2.5% $457.1M-0.2% $458.2M+49.1% $307.3M+8.3% $283.8M+3.2% $275.0M-0.4% $276.1M
Cash & Equivalents $71.1M-17.8% $86.6M-65.8% $252.9M+3.7% $243.8M+156.3% $95.1M+21.9% $78.1M+0.8% $77.5M-37.0% $122.9M
Inventory $18.0M-4.9% $19.0M-5.6% $20.1M-2.2% $20.5M-6.7% $22.0M-6.0% $23.4M-7.1% $25.2M+1.3% $24.9M
Accounts Receivable $62.1M+0.8% $61.6M+17.6% $52.4M-19.9% $65.4M-14.7% $76.7M+18.1% $64.9M+13.2% $57.4M+2.7% $55.9M
Goodwill $15.1M0.0% $15.1M+0.4% $15.1M0.0% $15.1M+1053.0% $1.3M0.0% $1.3M0.0% $1.3M0.0% $1.3M
Total Liabilities $418.3M+1.1% $413.9M+2.5% $403.9M-1.6% $410.3M+104.2% $201.0M+5.5% $190.5M+4.2% $182.8M+0.8% $181.3M
Current Liabilities $133.7M+3.8% $128.7M+19.0% $108.2M-4.5% $113.2M-8.4% $123.6M-2.7% $127.0M+10.4% $115.0M+1.9% $112.9M
Long-Term Debt $218.8M+0.2% $218.4M+0.2% $218.1M+0.2% $217.7M $0 N/A N/A N/A
Total Equity $211.5M+2.6% $206.2M+1.1% $204.0M+4.1% $195.9M-15.5% $231.8M+6.7% $217.3M+1.4% $214.4M0.0% $214.3M
Retained Earnings $1.8M+122.2% -$8.1M+60.2% -$20.3M+34.2% -$30.8M+23.7% -$40.3M+31.2% -$58.6M+17.7% -$71.3M+11.7% -$80.8M

ATEN Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $22.7M-0.4% $22.8M+2.8% $22.2M+28.9% $17.2M-33.1% $25.7M+27.7% $20.1M+64.9% $12.2M-62.4% $32.4M
Capital Expenditures $6.7M+41.0% $4.7M+11.4% $4.2M-5.6% $4.5M+88.7% $2.4M-31.4% $3.5M-0.5% $3.5M+19.3% $2.9M
Free Cash Flow $16.0M-11.2% $18.1M+0.8% $17.9M+41.1% $12.7M-45.5% $23.3M+40.0% $16.7M+91.1% $8.7M-70.5% $29.5M
Investing Cash Flow -$28.6M+83.6% -$173.8M-2576.2% -$6.5M+81.3% -$34.7M-21891.1% -$158K+97.2% -$5.7M+86.7% -$43.1M-6805.3% $643K
Financing Cash Flow -$9.5M+37.9% -$15.4M-132.4% -$6.6M-104.0% $166.3M+2059.2% -$8.5M+38.5% -$13.8M+5.1% -$14.5M-95.9% -$7.4M
Dividends Paid $4.3M-0.6% $4.3M0.0% $4.3M-2.5% $4.4M+0.1% $4.4M0.0% $4.4M-1.0% $4.5M0.0% $4.5M
Share Buybacks $6.9M-37.4% $11.0M+179.9% $3.9M-91.6% $47.0M+716.1% $5.8M-39.0% $9.4M-20.2% $11.8M+289.5% $3.0M

ATEN Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 78.7%-1.4pp 80.1%+1.3pp 78.8%-0.8pp 79.7%-0.2pp 79.9%-0.5pp 80.5%+0.5pp 80.0%-1.2pp 81.1%
Operating Margin 18.7%+1.3pp 17.4%+2.5pp 14.9%+1.6pp 13.3%-11.5pp 24.8%+9.1pp 15.7%+2.5pp 13.2%+1.3pp 11.9%
Net Margin 12.3%-4.0pp 16.3%+1.1pp 15.2%+0.8pp 14.4%-10.2pp 24.7%+5.7pp 18.9%+3.2pp 15.8%-0.3pp 16.0%
Return on Equity 4.7%-1.2pp 5.9%+0.7pp 5.2%+0.3pp 4.9%-3.0pp 7.9%+2.1pp 5.8%+1.4pp 4.4%-0.1pp 4.5%
Return on Assets 1.6%-0.4pp 2.0%+0.2pp 1.7%+0.2pp 1.6%-2.7pp 4.2%+1.1pp 3.1%+0.7pp 2.4%-0.1pp 2.5%
Current Ratio 3.56-0.1 3.64-0.6 4.23+0.2 4.05+1.6 2.49+0.3 2.23-0.2 2.39-0.1 2.45
Debt-to-Equity 1.03-0.0 1.060.0 1.07-0.0 1.11+1.1 0.00-0.9 0.88+0.0 0.850.0 0.85
FCF Margin 20.0%-4.2pp 24.2%-1.7pp 25.9%+6.6pp 19.2%-12.2pp 31.4%+6.5pp 25.0%+10.5pp 14.5%-34.1pp 48.6%

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Frequently Asked Questions

A10 Networks Inc (ATEN) reported $290.6M in total revenue for fiscal year 2025. This represents a 11.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

A10 Networks Inc (ATEN) revenue grew by 11% year-over-year, from $261.7M to $290.6M in fiscal year 2025.

Yes, A10 Networks Inc (ATEN) reported a net income of $42.1M in fiscal year 2025, with a net profit margin of 14.5%.

A10 Networks Inc (ATEN) reported diluted earnings per share of $0.57 for fiscal year 2025. This represents a -14.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

A10 Networks Inc (ATEN) had EBITDA of $62.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, A10 Networks Inc (ATEN) had $71.1M in cash and equivalents against $218.8M in long-term debt.

A10 Networks Inc (ATEN) had a gross margin of 79.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

A10 Networks Inc (ATEN) had an operating margin of 16.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

A10 Networks Inc (ATEN) had a net profit margin of 14.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, A10 Networks Inc (ATEN) paid $0.24 per share in dividends during fiscal year 2025.

A10 Networks Inc (ATEN) has a return on equity of 19.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

A10 Networks Inc (ATEN) generated $64.8M in free cash flow during fiscal year 2025. This represents a -17.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

A10 Networks Inc (ATEN) generated $84.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

A10 Networks Inc (ATEN) had $629.8M in total assets as of fiscal year 2025, including both current and long-term assets.

A10 Networks Inc (ATEN) invested $20.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

A10 Networks Inc (ATEN) invested $69.1M in research and development during fiscal year 2025.

Yes, A10 Networks Inc (ATEN) spent $68.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

A10 Networks Inc (ATEN) had 71M shares outstanding as of fiscal year 2025.

A10 Networks Inc (ATEN) had a current ratio of 3.56 as of fiscal year 2025, which is generally considered healthy.

A10 Networks Inc (ATEN) had a debt-to-equity ratio of 1.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

A10 Networks Inc (ATEN) had a return on assets of 6.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

A10 Networks Inc (ATEN) has an Altman Z-Score of 3.94, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

A10 Networks Inc (ATEN) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

A10 Networks Inc (ATEN) has an earnings quality ratio of 2.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

A10 Networks Inc (ATEN) has an interest coverage ratio of 8.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

A10 Networks Inc (ATEN) scores 66 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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