A10 Networks Reports Preliminary Second Quarter and First Half 2018 Financial Results
SAN JOSE, Calif.--(BUSINESS WIRE)--Aug 30, 2018--A10 Networks (NYSE: ATEN), a provider of intelligent and automated cybersecurity solutions, today announced preliminary financial results for the quarter and six months ended June 30, 2018.
Second Quarter 2018 Financial SummaryRevenue of $60.7 million grew 12% year-over-year GAAP net loss of $4.5 million, or $0.06 per share Non-GAAP net income of $1.6 million, or $0.02 per share
First Half 2018 Financial SummaryRevenue of $109.9 million, compared with $117.9 million in the first half of 2017 GAAP net loss of $24.2 million, or $0.33 per share Non-GAAP net loss of $5.5 million, or $0.07 per share
A reconciliation between GAAP and non-GAAP information is contained in the financial statements below.
“We have made steady progress across our key initiatives including strengthening our team, increasing our pace of innovation, and targeting our R&D investments in cloud, security and 5G. While our first quarter was impacted by our sales transformation, we were pleased to see improved momentum in the second quarter,” said Lee Chen, president and chief executive officer of A10 Networks. “There are a number of trends in the market that play to A10′s strengths that we believe present many opportunities for growth over the long-term. We are focused as a management team and believe we are on the right path to continue to improve our execution and drive growth.”
Prepared Materials and Conference Call Information
A10 Networks has made available a presentation with management’s prepared remarks on its preliminary second quarter and first half 2018 financial results. These materials are accessible from the “Investor Relations” section of the A10 Networks website at investors.a10networks.com.
A10 Networks will host a conference call today at 4:30 p.m. Eastern time / 1:30 p.m. Pacific time for analysts and investors to discuss its second quarter and first half 2018 results and outlook for its third quarter of 2018. Open to the public, investors may access the call by dialing +1-844-792-3728 or +1-412-317-5105. A live audio webcast of the conference call will be accessible from the “Investor Relations” section of the A10 Networks website at investors.a10networks.com. The webcast will be archived for a period of one year. A telephonic replay of the conference call will be available two hours after the call, will run for five business days, and may be accessed by dialing +1-877-344-7529 or +1-412-317-0088 and entering the passcode 10123380. The press release and supplemental financials will be accessible from the “Investor Relations” section of the A10 Networks website prior to the commencement of the conference call.
This press release contains “forward-looking statements,” including statements regarding our ability to improve our execution, take advantage of trends in the market, and drive growth and shareholder value. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on assumptions that may prove to be incorrect, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Factors that may cause actual results to differ include execution risks related to closing key deals and improving our execution, the continued market adoption of our products, our ability to successfully anticipate market needs and opportunities, our timely development of new products and features, our ability to achieve or maintain profitability, any loss or delay of expected purchases by our largest end-customers, our ability to attract and retain new end-customers, our ability to maintain and enhance our brand and reputation, continued growth in markets relating to network security, the success of any future acquisitions or investments in complementary companies, products, services or technologies, the ability of our sales team to execute well, our ability to shorten our close cycles, the ability of our channel partners to sell our products, variations in product mix or geographic locations of our sales and risks associated with our presence in international markets.
Non-GAAP Financial Measures
In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying table contain certain non-GAAP financial measures, including non-GAAP net income (loss). Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies.
A10 Networks considers these non-GAAP financial measures to be important because they provide useful measures of the operating performance of the company, exclusive of unusual events or factors that do not directly affect what we consider to be our core operating performance, and are used by the company’s management for that purpose. We define non-GAAP net income (loss) as our net loss excluding: (i) stock-based compensation, (ii) amortization expense related to acquisition and (iii) legal expenses associated with the litigation and internal investigation.
We have included our non-GAAP net income (loss) in this press release. Non-GAAP financial measures are presented for supplemental informational purposes only for understanding the company’s operating results. The non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from non-GAAP financial measures presented by other companies. Please see the reconciliation of non-GAAP financial measures to the most directly comparable GAAP measure attached to this release.
About A10 Networks
A10 Networks (NYSE: ATEN) is a provider of intelligent and automated cybersecurity solutions, providing a portfolio of high-performance secure application solutions that enable intelligent automation with machine learning to ensure business-critical applications are secure and always available. Founded in 2004, A10 Networks is based in San Jose, Calif., and serves customers in more than 80 countries with offices worldwide. For more information, visit: www.a10networks.com and @A10Networks.
The A10 logo, A10 Networks, A10 Thunder and A10 5G-GiLAN are trademarks or registered trademarks of A10 Networks, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.
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