ATEN on NYSE

A10 Networks

Logo: A10 Networks, Public domain, via Wikimedia Commons⁴

U.S. computer network company

A10 Networks, Inc. is an American public company specializing in the manufacturing of application delivery controllers (software and hardware).³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

2004Founded¹

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TickerATEN on NYSE¹
Industrycomputer network¹
HeadquartersSan Jose¹
Websitewww.a10networks.com
Legal formDelaware corporation¹
Incorporated inDE⁵
Business address2300 Orchard Pkwy, San Jose, Ca 95131⁵
Filer categoryLarge accelerated filer⁵

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A10 Networks, Inc. is an American public company specializing in the manufacturing of application delivery controllers (software and hardware). Founded in 2004 by Lee Chen, co-founder of Foundry Networks, A10 originally serviced just the identity management market with its line of ID Series products. In early 2007, they added bandwidth management appliances (EX Series). The company had its initial public offering on March 21, 2014, raising $187.5 million.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

79.3%Gross margin⁷

16.2%Operating margin⁷

14.5%Net margin⁷

11.0%Revenue growth, 2025⁷

19.9%Return on equity⁷

1.03×Debt to equity⁷

$64.8MFree cash flow⁷

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 58% of the revenue A10 Networks broke down this way in fiscal 2025.

Product$167.1M⁷58%up 20% from 2024
Service$123.5M⁷42%up 1% from 2024

Products and services by year

Products and services	2023	2024	2025
Product	$141.1M	$139.8M	$167.1M
Service	$110.6M	$121.9M	$123.5M

Regions

United States brought in 55% of the revenue A10 Networks broke down this way in fiscal 2025.

United States$160.5M⁷55%up 36% from 2024
APJ$70.5M⁷24%down 19% from 2024
EMEA$44.9M⁷15%up 12% from 2024
Americas (Excluding United States)$14.7M⁷5%down 12% from 2024

Regions by year

Regions	2023	2024	2025
United States	$113.8M	$117.7M	$160.5M
APJ	$77.6M	$87.2M	$70.5M
EMEA	$41.3M	$40.2M	$44.9M
Americas (Excluding United States)	$19.0M	$16.6M	$14.7M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Cost of revenueResearch and developmentOther costsProfit

Cost of revenue21¢$60.0M
Research and development24¢$69.1M
Other costs38¢$109.0M
Income tax4¢$10.3M
Profit15¢$42.1M

Out of $290.6M in revenue.⁷

Where each dollar of operating cash went, fiscal 2025

Capital spendingDividends paidShare buybacks

Capital spending19¢$20.1M
Dividends paid16¢$17.4M
Share buybacks65¢$68.9M

Out of $84.9M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.⁷

Financial statements

Revenue⁸⁹¹⁰¹¹⁷$290.6M in 2025+37% since 2019

Gross profit⁸⁹¹⁰¹¹⁷$230.5M in 2025+41% since 2019

Operating income⁸⁹¹⁰¹¹⁷$47.1M in 2025

Net income⁸⁹¹⁰¹¹⁷$42.1M in 2025

Every line of the income statement in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Total revenue	$290.6M	$261.7M	$251.7M
Total cost of revenue	$60.0M	$51.4M	$48.0M
Gross profit	$230.5M	$210.3M	$203.7M
Sales and marketing	$84.5M	$83.3M	$86.0M
Research and development	$69.1M	$57.7M	$55.2M
General and administrative	$29.8M	$25.3M	$23.9M
Total operating expenses	$183.4M	$166.3M	$165.1M
Income from operations	$47.1M	$44.0M	$38.6M
Interest income	$11.6M	$6.7M	$5.1M
Interest and other income (expense), net	$6.3M	-$7.4M	-$69.0K
Total non-operating income, net	$5.3M	$14.1M	$5.1M
Income before income taxes	$52.4M	$58.1M	$43.8M
Provision for income taxes	$10.3M	$8.0M	$3.8M
Net income	$42.1M	$50.1M	$40.0M
Net income (loss) per share - basic (in dollars per share)	$0.58	$0.68	$0.54
Net income (loss) per share - diluted (in dollars per share)	$0.57	$0.67	$0.53
Weighted Average Number of Shares Outstanding, Basic	72.3M shares	74.1M shares	74.2M shares
Weighted Average Number of Shares Outstanding, Diluted	73.6M shares	75.3M shares	75.5M shares

Total assets¹⁴⁸⁹¹⁰¹¹⁷$629.8M in 2025+130% since 2019

Total liabilities¹⁴⁸⁹¹⁰¹¹⁷$418.3M in 2025+153% since 2019

Shareholders’ equity⁹¹⁰¹¹⁷$211.5M in 2025+94% since 2019

Cash¹⁵¹⁴⁸⁷$71.1M in 2025+56% since 2019

Long-term debt⁷$218.8M in 2025

Every line of the balance sheet in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash and cash equivalents	$71.1M	$95.1M	$97.2M
Marketable securities	$306.7M	$100.4M
Accounts receivable, net of allowances of $66 and $465, respectively	$62.1M	$76.7M	$74.3M
Inventory	$18.0M	$22.0M
Prepaid expenses and other current assets	$18.0M	$13.0M
Total current assets	$476.0M	$307.3M
Property and equipment, net	$50.2M	$39.1M
Goodwill	$15.1M	$1.3M
Intangible assets	$6.3M	$0
Other non-current assets	$20.1M	$22.7M
Total assets	$629.8M	$432.8M
Accounts payable	$11.7M	$12.5M
Accrued and other liabilities	$41.1M	$32.7M
Deferred revenue, current	$80.8M	$78.3M	$82.7M
Total current liabilities	$133.7M	$123.6M
Deferred revenue, non-current	$62.0M	$69.9M	$58.7M
Other non-current liabilities	$3.8M	$7.5M
Total liabilities	$418.3M	$201.0M
Common stock, $0.00001 par value: 500,000 shares authorized; 91,996 and 90,520 shares issued and 71,498 and 73,693 shares outstanding, respectively	$1.0K	$1.0K
Treasury stock, at cost: 20,498 and 16,827 shares, respectively	-$249.9M	-$181.0M
Additional paid-in-capital	$531.8M	$508.4M
Dividends paid	-$72.8M	-$55.4M
Accumulated other comprehensive income	$659.0K	$194.0K
Retained earnings (accumulated deficit)	$1.8M	-$40.3M
Total stockholders' equity	$211.5M	$231.8M	$207.9M
Total liabilities and stockholders' equity	$629.8M	$432.8M
Deferred Tax Assets, Net	$62.1M	$62.4M
Long-Term Debt	$218.8M	$0
Allowance for doubtful accounts receivable	$66.0K	$465.0K
Common Stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized (in shares)	500.0M shares	500.0M shares
Common stock, shares issued (in shares)	92.0M shares	90.5M shares
Common stock, shares outstanding (in shares)	71.5M shares	73.7M shares
Treasury Stock, Shares, Acquired	20.5M shares	16.8M shares

Cash from operations⁸⁹¹⁰¹¹⁷$84.9M in 2025

Capital spending⁸⁹¹⁰¹¹⁷$20.1M in 2025+364% since 2019

Free cash flow⁸⁹¹⁰¹¹⁷$64.8M in 2025

Dividends paid⁸⁹¹⁰¹¹⁷$17.4M in 2025

Share buybacks⁸⁹¹⁰¹¹⁷$68.9M in 2025

Every line of the cash flow in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income	$42.1M	$50.1M	$40.0M
Depreciation and amortization	$14.9M	$11.3M	$9.3M
Stock-based compensation	$20.0M	$17.0M	$14.1M
Provision for (recovery from) credit losses and sales returns	-$399.0K	$59.0K	-$699.0K
Other non-cash items	$3.3M	-$424.0K	$117.0K
Accounts receivable	$14.6M	-$2.6M	-$679.0K
Inventory	$3.7M	-$760.0K	-$6.3M
Prepaid expenses and other assets	-$8.3M	-$67.0K	-$1.9M
Accounts payable	-$1.5M	$2.2M	-$3.0M
Accrued and other liabilities	$4.6M	$6.6M	-$20.8M
Deferred revenue	-$8.0M	$6.9M	$14.3M
Net cash provided by operating activities	$84.9M	$90.5M	$44.5M
Proceeds from sales of marketable securities	$853.0K	$25.5M	$45.4M
Proceeds from maturities of marketable securities	$136.8M	$81.1M	$64.5M
Purchases of marketable securities	-$342.0M	-$142.8M	-$85.4M
Capital expenditures	-$20.1M	-$12.3M	-$10.9M
Net cash provided by (used in) investing activities	-$243.6M	-$48.4M	$13.6M
Proceeds from issuance of common stock under employee equity incentive plans	$3.4M	$3.6M	$4.9M
Repurchases of common stock	-$68.9M	-$30.1M	-$16.0M
Payments for dividends	-$17.4M	-$17.8M	-$17.8M
Net cash provided by (used in) financing activities	$134.8M	-$44.3M	-$28.8M
Net increase (decrease) in cash and cash equivalents	-$24.0M	-$2.1M	$29.3M
Cash paid for income taxes, net of refunds	$6.8M	$6.3M	$2.4M
Cash paid for interest	$3.3M	$0	$0
Transfers between inventory and property and equipment	$314.0K	$2.3M	$2.5M
Capital expenditures included in accounts payable	$120.0K	$672.0K	$3.3M
Proceeds from Issuance of Long-Term Debt	$225.0M	$0	$0
Payments of Debt Issuance Costs	-$7.3M	$0	$0
Payments to Acquire Businesses, Net of Cash Acquired	-$19.1M	$0	$0

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The story

In mid-2007, A10 Networks launched its AX Series of application delivery controllers/load balancing appliances.

On May 21, 2013, A10 resolved its question of responsibility for intellectual property infringement and unfair competition practices by reaching a settlement with Brocade Communications Systems. Brocade had earlier been awarded $112 million in 2012.

In May 2013, A10 launched its A10 Thunder Series platforms of hardware and software application delivery controllers (ADCs).

A10 Networks released the Harmony design of the Thunder Series ADC in 2015.

Also in 2015, A10 Networks upgraded the Advanced Core Operating System (ACOS). The update allowed 100 percent of software capabilities to be addressed by APIs, whereas the previous ACOS could only address 40 percent through APIs.

In 2016, A10 acquired the cloud-native ADC company Appcito.

In 2021, according to the companies annual report, A10 Networks closed its India and China offices and reduce its headcount.

From Wikipedia’s article on A10 Networks, shared under CC BY-SA 4.0.⁶

Timeline

2004Founded Founded¹

Recent filings

Oct 7, 20263
Oct 7, 20264
Oct 7, 20264
Sep 14, 20268-K
Aug 25, 2026144
Aug 25, 20264
Aug 12, 20264
Aug 11, 2026144
Aug 7, 2026S-3ASR
Aug 7, 2026424B7
Aug 7, 20268-K
Aug 6, 202610-Q
Aug 5, 20268-K
Aug 5, 20268-K
Jul 30, 2026SCHEDULE 13G

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataA10 Networks on Wikidata
2
SEC EDGARA10 Networks filings on SEC EDGAR
3
WikipediaA10 Networks on Wikipedia
4
Wikimedia CommonsA10 Networks logo by A10 Networks, Public domain
5
SEC EDGARA10 Networks filings on SEC EDGAR
6
WikipediaA10 Networks on Wikipedia (revision used)
7
SEC EDGARA10 Networks 10-K for fiscal 2025
8
SEC EDGARA10 Networks 10-K for fiscal 2019
9
SEC EDGARA10 Networks 10-K for fiscal 2020
10
SEC EDGARA10 Networks 10-K for fiscal 2021
11
SEC EDGARA10 Networks 10-K for fiscal 2022
12
SEC EDGARA10 Networks 10-Q for fiscal 2026
13
SEC EDGARA10 Networks 10-Q for fiscal 2026
14
SEC EDGARA10 Networks 10-K for fiscal 2019
15
SEC EDGARA10 Networks 10-K for fiscal 2019