Company Description
A10 Networks, Inc. (NYSE: ATEN) is a technology company that focuses on secure application and network solutions for organizations that run business-critical systems. The company states that it delivers capabilities to protect, optimize, and scale applications and networks across on-premises, hybrid cloud, and edge or edge-cloud environments. Its offerings are aimed at enabling performance, reliability, and protection against cyber threats, while helping customers prepare their infrastructure for the demands of AI and next-generation applications.
According to A10 Networks, its customer base includes large enterprises, communications service providers, cloud platforms, and web service providers around the world. The company reports that it serves over 7,000 global customers, many of whom operate business-critical applications and networks that must remain secure, available, and efficient. These customers span sectors such as global large enterprises and communications, cloud, and web service providers.
A10 Networks describes itself as a provider of security and infrastructure solutions that address both cybersecurity and performance requirements. The company highlights areas such as DDoS mitigation, application protection, carrier-grade networking, Gi-firewall capabilities, and integrated DDoS protection in its public communications. In collaborations with service providers, A10 Networks emphasizes carrier-grade NAT (CGNAT) infrastructure enhanced with integrated security solutions, as well as virtualized and software-based deployments that support scalability, reliability, and protection against evolving cyber threats.
The company also points to technology for AI infrastructure and large language model (LLM) environments. A10 Networks has announced AI firewall capabilities designed to sit in front of APIs or URLs that expose LLMs, whether custom-built or based on commercial platforms. These capabilities are described as being built on edge-optimized architecture with GPU-enabled hardware and are intended to protect AI and LLM inference environments at high performance. The company states that these features can help prevent, detect, and mitigate AI-level threats such as prompt injections and sensitive information disclosure by inspecting request and response traffic at the prompt level and enforcing security policies.
In addition to security, A10 Networks highlights performance and resilience for AI and LLM-enabled applications. Public descriptions from the company refer to offloading processor-intensive tasks such as TLS/SSL decryption, caching, and optimizing traffic routing, as well as providing insights intended to maximize network availability and performance. The company has also discussed predictive performance capabilities that aim to identify network performance issues early, functioning as an early warning system to help customers address potential congestion or capacity constraints before they become critical.
A10 Networks notes that its technology is used in AI-optimized and hyperscale environments. For example, it has publicly announced selection by Microsoft to help secure mission-critical generative AI workloads, describing its role as delivering advanced threat detection and mitigation capabilities tailored for hyperscale AI deployments. The company also references collaborations with telecommunications providers, such as Turkcell, where A10 Networks’ software solutions support virtualization of carrier-grade networking, Gi-firewall capabilities, and integrated DDoS protection.
From a corporate perspective, A10 Networks reports that it was founded in 2004 and is headquartered in San Jose, California. The company’s shares trade on the New York Stock Exchange under the ticker symbol ATEN. It classifies its activities as providing security and infrastructure solutions for on-premises, hybrid cloud, and edge-cloud environments, and it states that it serves customers globally.
Financially, A10 Networks reports revenue from products and services. In its public financial statements, the company discloses net revenue split between products and services, with associated cost of revenue for each category. It also reports operating expenses for sales and marketing, research and development, and general and administrative functions. A10 Networks presents both GAAP and non-GAAP financial measures, including non-GAAP net income, non-GAAP gross margin, non-GAAP operating income, and Adjusted EBITDA, and provides reconciliations between GAAP and non-GAAP figures in its filings and earnings releases.
The company’s communications emphasize cybersecurity, AI infrastructure, and high-performance networking as important themes. A10 Networks states that the scale and sophistication of cyber threats, combined with the growth of AI-driven workloads and AI-ready data centers, are key factors influencing customer infrastructure roadmaps. It positions its offerings as relevant to customers that need to integrate security and performance into their infrastructure plans, including for AI-centric environments and next-generation applications.
A10 Networks also notes that it pays quarterly cash dividends, with approvals disclosed by its Board of Directors and announced via press releases and Form 8-K filings. The company has reported share repurchase activity and dividend payments in its earnings releases and SEC filings, and it describes an ongoing review of capital allocation strategy by its Board.
Overall, A10 Networks presents itself as a provider of security and infrastructure technologies that help organizations secure and operate business-critical applications and networks across on-premises, hybrid cloud, and edge environments, with particular attention to cybersecurity, AI infrastructure, and carrier-grade networking.
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Short Interest History
Short interest in A10 Networks (ATEN) currently stands at 5.8 million shares, up 4.5% from the previous reporting period, representing 8.3% of the float. Over the past 12 months, short interest has increased by 195.5%. The 7.3 days to cover indicates moderate liquidity for short covering.
Days to Cover History
Days to cover for A10 Networks (ATEN) currently stands at 7.3 days, down 15.7% from the previous period. This moderate days-to-cover ratio suggests reasonable liquidity for short covering, requiring about a week of average trading volume. The days to cover has increased 259.8% over the past year, indicating improving liquidity conditions. The ratio has shown significant volatility over the period, ranging from 2.0 to 15.6 days.