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A10 Networks, Inc. (ATEN) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

A10 Networks, Inc.

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CIK: 1580808 Ticker: ATEN


EXHIBIT 99.1

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A10 Networks Reports Fourth Quarter 2019 Financial Results and First Quarter Outlook
Fourth Quarter Revenue Grew 14% Sequentially, Above Prior Guidance
GAAP Net Income and GAAP EPS Break-even
Adjusted EBITDA of $10 Million, a Company Record
Non-GAAP EPS of $0.10 Exceeds Prior Guidance
Expects First Quarter Revenue Growth of 5% YoY at High End of Range

SAN JOSE, Calif., February 11, 2020 -- A10 Networks (NYSE: ATEN), a leading provider of intelligent and automated cybersecurity solutions, today announced financial results for its fourth quarter and year ended December 31, 2019.

Fourth Quarter 2019 Financial Summary
•
Revenue of $60.3 million, up 14 percent compared with $52.8 million in third quarter 2019
•
GAAP gross margin of 77.7 percent; non-GAAP gross margin of 78.5 percent
•
GAAP operating expenses of $46.8 million; non-GAAP operating expenses of $39.7 million
•
GAAP net income of $0.0 million, or $0.00 per basic and diluted share, compared with GAAP net income of $0.2 million, or $0.00 per basic and diluted share in third quarter of 2019; non-GAAP net income of $7.8 million, or $0.10 per basic and diluted share
•
Adjusted EBITDA of $10.0 million, compared with $4.0 million in third quarter 2019

Year 2019 Financial Summary
•
Revenue of $212.6 million, compared with $232.2 million in 2018
•
GAAP gross margin of 77.0 percent; non-GAAP gross margin of 77.8 percent
•
GAAP operating margin of (8.0) percent; non-GAAP operating margin of 1.2 percent
•
GAAP net loss of $17.8 million, or $0.23 per basic and diluted share; non-GAAP net income of $2.0 million, or $0.03 per basic and diluted share
•
Ended the year with $129.9 million in cash, cash equivalents and marketable securities

A reconciliation between GAAP and non-GAAP information is contained in the financial statements below.

“I am thrilled to join A10 Networks at an exciting time for the business,” said Dhrupad Trivedi, president and chief executive officer of A10 Networks. “A10 occupies an attractive area within networking and security, as companies increasingly focus on delivering business outcomes while managing operational complexities from proliferation of IoT, shift to hybrid cloud environments, and ever-


The following information was filed by A10 Networks, Inc. (ATEN) on Tuesday, February 11, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside A10 Networks, Inc.'s 10-K Annual Report:

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Inside this 10-K Annual Report

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Ticker: ATEN
CIK: 1580808
Form Type: 10-K Annual Report
Accession Number: 0001580808-20-000014
Submitted to the SEC: Tue Mar 10 2020 4:49:53 PM EST
Accepted by the SEC: Tue Mar 10 2020
Period: Tuesday, December 31, 2019
Industry: Computer Communications Equipment

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