A10 Networks (ATEN) Financials

$20.10 +0.34 (+1.70%)

As of 11:34 AM Eastern

Annual Income Statements for A10 Networks

This table shows A10 Networks' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	-36	-42	-22	-11	-28	-18	18	95	47	40	50
Consolidated Net Income / (Loss)	-35	-42	-22	-11	-28	-18	18	95	47	40	50
Net Income / (Loss) Continuing Operations	-35	-42	-22	-11	-28	-18	18	95	47	40	50
Total Pre-Tax Income	-33	-41	-22	-9.55	-27	-16	19	32	53	44	58
Total Operating Income	-30	-40	-21	-10	-28	-17	18	33	53	39	44
Total Gross Profit	137	148	173	182	180	164	175	197	224	204	210
Total Revenue	180	196	227	235	232	213	226	250	280	252	262
Operating Revenue	180	196	227	235	232	213	226	250	280	252	262
Total Cost of Revenue	43	48	54	53	52	49	50	54	57	48	51
Operating Cost of Revenue	43	48	54	53	52	49	50	54	57	48	51
Total Operating Expenses	167	188	193	192	208	181	158	163	170	165	166
Selling, General & Admin Expense	23	27	26	28	40	24	22	23	24	24	25
Marketing Expense	97	105	104	101	103	93	78	86	89	86	83
Research & Development Expense	50	55	61	63	65	62	58	54	58	55	58
Restructuring Charge	-	-	-	0.00	0.00	2.53	0.00	0.00	0.00	0.00	0.00
Total Other Income / (Expense), net	-2.94	-0.84	-1.06	0.83	1.14	0.68	1.41	-1.75	-0.73	5.15	14
Interest & Investment Income	-1.91	-0.33	-0.64	0.99	1.27	0.92	1.41	-1.75	-0.36	5.15	14
Income Tax Expense	1.51	0.75	0.76	1.21	1.08	1.41	1.32	-63	5.81	3.83	7.96
Basic Earnings per Share	($0.74)	($0.67)	($0.34)	($0.15)	($0.38)	($0.23)	$0.23	$1.23	$0.62	$0.54	$0.68
Weighted Average Basic Shares Outstanding	48.68M	62.43M	65.70M	70.05M	72.88M	76.08M	77.78M	77.05M	75.53M	74.21M	74.09M
Diluted Earnings per Share	($0.74)	($0.67)	($0.34)	($0.15)	($0.38)	($0.23)	$0.22	$1.19	$0.60	$0.53	$0.67
Weighted Average Diluted Shares Outstanding	48.68M	62.43M	65.70M	70.05M	72.88M	76.08M	80.02M	80.04M	77.75M	75.55M	75.30M
Weighted Average Basic & Diluted Shares Outstanding	48.68M	62.43M	65.70M	70.05M	72.88M	76.08M	76.91M	76.39M	148.99M	-	73.97M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	$0.20	$0.24	$0.24	$0.24

This table shows A10 Networks' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	6/30/2022	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2025	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	10	12	18	3.96	12	6.47	18	9.54	9.48	13	18
Consolidated Net Income / (Loss)	10	12	18	3.96	12	6.47	18	9.54	9.48	13	18
Net Income / (Loss) Continuing Operations	10	12	18	3.96	12	6.47	18	9.54	9.48	13	18
Total Pre-Tax Income	14	15	16	4.92	15	4.96	19	10	11	14	22
Total Operating Income	13	16	16	6.17	12	2.21	18	8.78	7.92	10	18
Total Gross Profit	54	57	62	47	52	47	57	53	48	54	59
Total Revenue	68	72	78	58	66	58	70	66	60	67	74
Operating Revenue	68	72	78	58	66	58	70	66	60	67	74
Total Cost of Revenue	13	15	16	10	13	11	13	13	12	13	15
Operating Cost of Revenue	13	15	-	10	13	11	13	13	12	13	15
Total Operating Expenses	41	42	46	41	40	45	39	44	40	43	41
Selling, General & Admin Expense	5.34	5.66	6.36	7.31	5.26	5.61	5.71	8.47	5.95	6.49	6.10
Marketing Expense	22	22	22	22	21	21	21	20	19	21	22
Research & Development Expense	14	14	17	12	14	18	12	16	15	16	13
Total Other Income / (Expense), net	0.49	-0.44	-0.26	-1.25	2.55	2.75	1.09	1.70	3.07	3.95	3.11
Income Tax Expense	3.21	3.12	-1.66	0.96	3.19	-1.51	1.18	0.94	1.51	1.75	3.21
Basic Earnings per Share	$0.14	$0.16	$0.24	$0.05	$0.16	$0.09	$0.24	$0.13	$0.13	$0.17	$0.25
Weighted Average Basic Shares Outstanding	75.89M	75.88M	75.53M	74.00M	74.02M	74.53M	74.21M	73.56M	74.37M	73.82M	74.09M
Diluted Earnings per Share	$0.13	$0.16	$0.23	$0.05	$0.15	$0.09	$0.24	$0.13	$0.13	$0.17	$0.24
Weighted Average Diluted Shares Outstanding	78.31M	77.68M	77.75M	75.54M	75.43M	75.81M	75.55M	75.05M	75.50M	74.78M	75.30M
Weighted Average Basic & Diluted Shares Outstanding	76.17M	73.45M	148.99M	73.97M	74.11M	74.14M	0.00	72.08M	73.87M	73.80M	73.97M

This table details how cash moves in and out of A10 Networks' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	71	6.21	-69	18	-5.95	5.12	38	-4.36	-11	29	-2.12
Net Cash From Operating Activities	-31	3.39	19	14	-2.69	-0.43	55	50	66	45	90
Net Cash From Continuing Operating Activities	-31	3.39	19	14	-2.69	-0.43	55	50	66	45	90
Net Income / (Loss) Continuing Operations	-35	-42	-22	-11	-28	-18	18	95	47	40	50
Consolidated Net Income / (Loss)	-35	-42	-22	-11	-28	-18	18	95	47	40	50
Depreciation Expense	10	8.72	8.27	8.51	7.88	10	11	8.91	7.38	9.35	11
Non-Cash Adjustments To Reconcile Net Income	6.33	19	19	18	17	16	13	15	14	13	17
Changes in Operating Assets and Liabilities, net	-12	17	14	-1.37	-0.14	-8.82	13	-69	-2.28	-18	12
Net Cash From Investing Activities	-6.10	-3.48	-96	-5.14	-6.88	-0.25	5.20	-38	11	14	-48
Net Cash From Continuing Investing Activities	-6.10	-3.48	-96	-5.14	-6.88	-0.25	5.20	-38	11	14	-48
Purchase of Property, Plant & Equipment	-6.10	-3.48	-4.87	-5.73	-2.80	-4.34	-3.56	-5.17	-11	-11	-12
Purchase of Investments	0.00	0.00	-126	-87	-88	-72	-58	-129	-55	-85	-143
Sale and/or Maturity of Investments	0.00	0.00	41	88	84	76	67	96	77	110	107
Net Cash From Financing Activities	108	6.30	8.44	8.42	3.62	5.80	-23	-16	-88	-29	-44
Net Cash From Continuing Financing Activities	108	6.30	8.44	8.42	3.62	5.80	-23	-16	-88	-29	-44
Repurchase of Common Equity	0.00	0.00	-1.80	-3.07	0.00	0.00	-33	-18	-79	-16	-30
Payment of Dividends	-	-	-	-	-	0.00	0.00	-3.88	-16	-18	-18
Issuance of Common Equity	7.03	6.02	10	12	3.70	5.80	9.59	5.76	7.04	4.94	3.62
Cash Interest Paid	0.50	0.17	0.19	0.11	0.10	0.26	0.00	0.00	0.00	0.00	0.00
Cash Income Taxes Paid	1.11	0.98	0.58	1.11	0.52	0.93	1.03	0.20	1.75	2.41	6.28

This table details how cash moves in and out of A10 Networks' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	6/30/2022	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	16	-52	36	0.55	43	-7.03	-6.91	26	-45	0.61	17
Net Cash From Operating Activities	8.83	14	27	-0.85	20	23	2.73	32	12	20	26
Net Cash From Continuing Operating Activities	8.83	14	27	-0.85	20	23	2.73	32	12	20	26
Net Income / (Loss) Continuing Operations	10	12	18	3.96	12	6.47	18	9.73	9.48	13	18
Consolidated Net Income / (Loss)	10	12	18	3.96	12	6.47	18	9.73	9.48	13	18
Depreciation Expense	1.87	1.83	1.84	2.11	2.20	2.54	2.50	2.69	2.82	2.74	3.05
Non-Cash Adjustments To Reconcile Net Income	2.69	3.44	4.22	3.57	3.37	5.01	1.55	4.30	3.41	3.57	5.41
Changes in Operating Assets and Liabilities, net	-6.14	-3.35	3.23	-10	2.37	9.04	-19	16	-3.49	1.19	-1.05
Net Cash From Investing Activities	12	-16	11	5.37	32	-24	0.17	0.64	-43	-5.72	-0.16
Net Cash From Continuing Investing Activities	12	-16	11	5.37	32	-24	0.17	0.64	-43	-5.72	-0.16
Purchase of Property, Plant & Equipment	-1.88	-3.24	-2.54	-2.68	-2.39	-2.69	-3.14	-2.93	-3.49	-3.47	-2.38
Purchase of Investments	-8.01	-24	-9.71	-21	-23	-30	-10	-41	-66	-21	-15
Sale and/or Maturity of Investments	22	11	23	29	58	9.48	14	44	26	19	18
Net Cash From Financing Activities	-4.43	-50	-2.03	-3.97	-8.58	-6.49	-9.80	-7.42	-15	-14	-8.49
Net Cash From Continuing Financing Activities	-4.43	-50	-2.03	-3.97	-8.58	-6.49	-9.80	-7.42	-15	-14	-8.49
Repurchase of Common Equity	-3.44	-47	-	0.00	-6.23	-2.44	-7.30	-3.04	-12	-9.45	-5.76
Payment of Dividends	-3.79	-3.85	-4.41	-4.45	-4.43	-4.49	-4.45	-4.47	-4.47	-4.43	-4.43
Issuance of Common Equity	2.81	1.69	2.38	0.47	2.09	0.44	1.95	0.09	1.77	0.07	1.71

This table presents A10 Networks' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	187	190	217	225	236	274	291	393	369	390	433
Total Current Assets	171	177	197	204	215	221	242	284	257	272	307
Cash & Equivalents	92	98	29	47	41	0.00	0.00	79	68	97	95
Short-Term Investments	-	0.00	85	85	88	84	75	106	83	62	100
Accounts Receivable	54	55	61	48	54	54	51	62	73	74	77
Inventories, net	21	19	16	18	18	22	21	22	20	24	22
Prepaid Expenses	4.73	5.06	5.22	6.83	15	15	12	15	13	15	13
Plant, Property, & Equipment, net	11	8.90	8.22	9.91	7.26	7.66	7.89	11	20	30	39
Total Noncurrent Assets	4.86	4.40	12	11	14	45	41	98	92	88	86
Goodwill	-	0.07	1.31	1.31	1.31	1.31	1.31	1.31	1.31	1.31	1.31
Intangible Assets	-	0.80	6.63	5.19	3.75	2.31	0.86	0.00	0.00	0.00	0.00
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	0.94	66	63	63	62
Other Noncurrent Operating Assets	4.86	3.53	3.87	4.65	8.62	42	38	31	28	24	23
Total Liabilities & Shareholders' Equity	187	190	217	225	236	274	291	393	369	390	433
Total Liabilities	90	112	134	126	132	165	175	184	188	182	201
Total Current Liabilities	71	87	101	93	97	98	108	116	118	111	124
Accounts Payable	8.99	11	9.85	9.03	8.20	7.59	4.85	6.85	6.73	7.02	13
Accrued Expenses	22	28	32	22	25	28	37	36	37	21	33
Current Deferred Revenue	39	49	60	62	64	62	66	73	74	83	78
Total Noncurrent Liabilities	20	25	33	34	35	68	67	68	70	71	77
Long-Term Debt	-	-	-	-	-	-	-	-	-	-	0.00
Noncurrent Deferred Revenue	18	23	32	33	34	39	43	48	53	59	70
Other Noncurrent Operating Liabilities	1.77	1.41	0.99	0.97	0.53	29	24	20	17	12	7.49
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	97	78	83	98	104	109	116	209	181	208	232
Total Preferred & Common Equity	97	78	83	98	104	109	116	209	181	208	232
Total Common Equity	97	78	83	98	104	109	116	209	181	208	232
Common Stock	278	302	329	356	376	403	426	446	467	487	508
Retained Earnings	-182	-224	-246	-257	-272	-290	-272	-177	-130	-90	-40
Treasury Stock	-	-	-	-	-	-4.87	-37	-56	-135	-151	-181
Accumulated Other Comprehensive Income / (Loss)	-	0.00	-0.05	-0.12	-0.14	0.25	0.10	-0.23	-0.73	-0.07	0.19
Other Equity Adjustments	-	-	-	-	-	-	-	-3.88	-20	-38	-55

This table presents A10 Networks' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2025	6/30/2024	9/30/2024
Total Assets	385	353	357	368	378	606	397	408
Total Current Assets	272	238	245	256	265	458	275	284
Cash & Equivalents	84	32	69	111	104	244	77	78
Short-Term Investments	83	96	76	43	65	112	100	104
Accounts Receivable	68	74	67	69	59	65	57	65
Inventories, net	22	21	20	20	24	21	25	23
Prepaid Expenses	15	15	13	13	13	16	15	13
Plant, Property, & Equipment, net	15	18	22	25	26	42	34	37
Total Noncurrent Assets	98	97	90	87	87	106	88	87
Goodwill	1.31	1.31	1.31	1.31	1.31	15	1.31	1.31
Noncurrent Deferred & Refundable Income Taxes	66	66	62	60	61	62	62	63
Other Noncurrent Operating Assets	31	30	27	25	25	21	24	23
Total Liabilities & Shareholders' Equity	385	353	357	368	378	606	397	408
Total Liabilities	190	192	172	175	181	410	183	190
Total Current Liabilities	122	122	103	107	111	113	115	127
Accounts Payable	5.57	6.05	5.91	6.40	8.21	7.64	5.64	7.54
Accrued Expenses	37	41	21	23	24	26	27	30
Current Deferred Revenue	80	75	76	78	80	80	82	90
Total Noncurrent Liabilities	67	70	69	68	70	297	68	63
Noncurrent Deferred Revenue	48	51	53	54	56	73	58	55
Other Noncurrent Operating Liabilities	19	18	16	15	13	6.33	9.82	8.73
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	195	161	186	193	197	196	214	217
Total Preferred & Common Equity	195	161	186	193	197	196	214	217
Total Common Equity	195	161	186	193	197	196	214	217
Common Stock	456	461	471	477	482	514	498	502
Retained Earnings	-161	-148	-126	-115	-108	-31	-71	-59
Treasury Stock	-87	-135	-135	-141	-144	-228	-166	-175
Accumulated Other Comprehensive Income / (Loss)	-1.21	-1.34	-0.16	0.54	0.33	0.15	0.47	0.21
Other Equity Adjustments	-12	-15	-24	-29	-33	-60	-47	-51

This table displays calculated financial ratios and metrics derived from A10 Networks' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	26.65%	9.35%	15.80%	3.58%	-1.36%	-8.44%	6.07%	10.87%	12.12%	-10.22%	3.97%
EBITDA Growth	-27.83%	-56.79%	61.06%	84.87%	-963.89%	64.31%	510.93%	45.66%	42.09%	-20.14%	15.14%
EBIT Growth	-32.52%	-33.16%	48.97%	49.58%	-166.86%	38.24%	203.74%	88.28%	57.89%	-26.69%	13.77%
NOPAT Growth	-32.52%	-33.16%	48.97%	49.58%	-166.86%	38.24%	237.95%	506.54%	-52.83%	-25.32%	7.58%
Net Income Growth	-28.14%	-20.67%	46.56%	51.99%	-156.88%	35.48%	199.98%	432.59%	-50.56%	-14.79%	25.44%
EPS Growth	76.43%	9.46%	49.25%	55.88%	-153.33%	39.47%	195.65%	440.91%	-49.58%	-11.67%	26.42%
Operating Cash Flow Growth	-21.51%	111.10%	453.76%	-23.77%	-118.82%	84.19%	13,077.93%	-9.39%	31.94%	-32.66%	103.29%
Free Cash Flow Firm Growth	-444.47%	89.69%	25.47%	-124.87%	-352.42%	44.55%	344.93%	-9.09%	-34.05%	56.76%	42.46%
Invested Capital Growth	149.06%	-527.30%	-58.67%	-3.65%	25.21%	13.71%	-99.47%	156.56%	103.71%	0.00%	-25.33%
Revenue Q/Q Growth	1.70%	4.67%	3.34%	104.24%	-34.00%	-19.25%	29.61%	3.31%	2.55%	-2.79%	0.00%
EBITDA Q/Q Growth	-71.10%	12.14%	40.18%	46.60%	-23.02%	31.41%	35.73%	8.72%	7.20%	1.93%	0.00%
EBIT Q/Q Growth	-42.83%	11.46%	27.61%	13.96%	-13.42%	12.76%	76.89%	13.84%	8.34%	0.65%	0.00%
NOPAT Q/Q Growth	-42.83%	11.46%	27.61%	13.96%	-13.42%	37.57%	135.23%	-10.53%	14.93%	-2.09%	0.00%
Net Income Q/Q Growth	-42.86%	13.96%	21.08%	93.65%	-121.35%	-131.62%	127.07%	3.14%	18.44%	-0.28%	0.00%
EPS Q/Q Growth	45.99%	-15.52%	24.44%	25.00%	-11.76%	14.81%	57.14%	4.39%	17.65%	1.92%	0.00%
Operating Cash Flow Q/Q Growth	-69.74%	136.14%	6.71%	105.69%	-120.10%	86.17%	25.65%	-13.58%	38.67%	-35.59%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	73.46%	49.06%	27.86%	-3.44%	34.04%	56.36%	-41.54%	-7.30%	-14.19%	789.96%
Invested Capital Q/Q Growth	421.82%	-1.66%	7.47%	4.02%	-0.02%	-3.48%	-12.69%	47.76%	47.37%	74.23%	3.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	76.08%	75.34%	76.06%	77.35%	77.65%	77.01%	77.76%	78.60%	79.73%	80.94%	80.35%
EBITDA Margin	-11.23%	-16.10%	-5.41%	-0.79%	-8.53%	-3.32%	12.87%	16.92%	21.44%	19.07%	21.12%
Operating Margin	-16.86%	-20.54%	-9.05%	-4.41%	-11.92%	-8.04%	7.86%	13.35%	18.93%	15.35%	16.80%
EBIT Margin	-16.86%	-20.54%	-9.05%	-4.41%	-11.92%	-8.04%	7.86%	13.35%	18.80%	15.35%	16.80%
Profit (Net Income) Margin	-19.34%	-21.35%	-9.85%	-4.57%	-11.89%	-8.38%	7.90%	37.95%	16.73%	15.88%	19.16%
Tax Burden Percent	104.54%	101.82%	103.50%	112.63%	104.08%	108.57%	93.09%	299.88%	88.98%	91.27%	86.30%
Interest Burden Percent	109.72%	102.09%	105.17%	92.03%	95.87%	96.01%	107.93%	94.77%	100.00%	113.32%	132.14%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.91%	-199.88%	11.02%	8.73%	13.70%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	130.43%	72.61%	89.44%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	130.62%	69.66%	82.57%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-107.92%	-53.39%	-66.64%
Return on Equity (ROE)	181.23%	-47.95%	-27.82%	-11.87%	-27.31%	-16.76%	15.85%	58.42%	22.51%	19.23%	22.81%
Cash Return on Invested Capital (CROIC)	-758.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	143.08%	62.14%	72.61%	118.45%
Operating Return on Assets (OROA)	-21.56%	-21.39%	-10.12%	-4.70%	-12.02%	-6.70%	6.28%	9.76%	13.47%	9.91%	10.69%
Return on Assets (ROA)	-24.73%	-22.23%	-11.01%	-4.87%	-11.99%	-6.99%	6.31%	27.75%	11.98%	10.25%	12.19%
Return on Common Equity (ROCE)	181.23%	-47.95%	-27.82%	-11.87%	-27.31%	-16.76%	15.85%	58.42%	22.51%	19.23%	22.81%
Return on Equity Simple (ROE_SIMPLE)	-35.96%	-53.57%	-27.06%	-10.93%	-26.58%	-16.38%	15.36%	45.42%	22.57%	19.23%	21.63%
Net Operating Profit after Tax (NOPAT)	-21	-28	-14	-7.26	-19	-12	17	100	47	35	38
NOPAT Margin	-11.80%	-14.38%	-6.33%	-3.08%	-8.34%	-5.63%	7.32%	40.04%	16.85%	14.01%	14.50%
Net Nonoperating Expense Percent (NNEP)	80.83%	-14.40%	-7.52%	-2.84%	-6.35%	-4.53%	0.91%	-3.05%	-0.19%	2.95%	6.87%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	22.72%	16.97%	16.37%
Cost of Revenue to Revenue	23.92%	24.66%	23.94%	22.65%	22.35%	22.99%	22.24%	21.40%	20.27%	19.06%	19.65%
SG&A Expenses to Revenue	12.78%	13.56%	11.57%	11.95%	17.07%	11.15%	9.69%	9.37%	8.39%	9.49%	9.66%
R&D to Revenue	27.80%	27.94%	26.71%	26.76%	28.06%	29.08%	25.75%	21.63%	20.83%	21.94%	22.06%
Operating Expenses to Revenue	92.94%	95.88%	85.11%	81.76%	89.57%	85.05%	69.90%	65.25%	60.79%	65.59%	63.55%
Earnings before Interest and Taxes (EBIT)	-30	-40	-21	-10	-28	-17	18	33	53	39	44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-20	-32	-12	-1.86	-20	-7.07	29	42	60	48	55
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.62	5.07	6.44	5.30	4.23	4.61	6.22	5.89	5.66	4.61	5.84
Price to Tangible Book Value (P/TBV)	2.62	5.12	7.12	5.67	4.44	4.77	6.34	5.93	5.70	4.64	5.87
Price to Revenue (P/Rev)	1.41	2.02	2.34	2.21	1.89	2.36	3.20	4.92	4.20	3.80	5.17
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	40.50	12.97	25.10	23.96	27.01
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	1.31%	1.86%	1.31%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.47%	7.71%	3.98%	4.17%	3.70%
Enterprise Value to Invested Capital (EV/IC)	34.47	0.00	0.00	0.00	0.00	0.00	0.00	43.83	20.96	16.43	31.94
Enterprise Value to Revenue (EV/Rev)	0.89	1.52	1.84	1.66	1.34	1.96	2.87	4.18	3.63	3.17	4.43
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	22.27	24.71	16.94	16.63	20.97
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	36.47	31.30	19.31	20.65	26.35
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	39.17	10.44	21.55	22.63	30.53
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	87.94	22.28	27.24	0.00	0.00	11.70	20.86	15.40	17.93	12.80
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	17.23	30.63	45.24	22.63	23.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.87	-1.09	-1.32	-1.36	-1.28	-1.21	-1.28	-1.06	-0.83	-0.77	-0.81
Leverage Ratio	-7.33	2.16	2.53	2.44	2.28	2.40	2.51	2.11	1.88	1.88	1.87
Compound Leverage Factor	-8.04	2.20	2.66	2.24	2.18	2.30	2.71	2.00	1.88	2.12	2.47
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	1.39	1.38	2.06	2.36	1.58	1.45	2.70	4.80	5.22	4.30	5.36
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.42	2.03	1.94	2.20	2.21	2.26	2.25	2.45	2.45	2.45	2.49
Quick Ratio	2.06	1.76	1.73	1.93	1.87	1.41	1.17	2.13	2.10	2.10	2.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-35	-3.64	-2.72	-6.11	-28	-15	38	34	23	35	50
Operating Cash Flow to CapEx	-500.62%	97.53%	385.43%	249.63%	-96.32%	-9.82%	1,551.23%	968.81%	612.09%	408.54%	737.63%
Free Cash Flow to Firm to Interest Expense	-34.38	-7.16	-6.41	-37.70	-214.20	-64.65	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-29.71	6.66	44.29	88.36	-20.88	-1.80	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-35.64	-0.17	32.80	52.96	-42.57	-20.11	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.28	1.04	1.12	1.07	1.01	0.83	0.80	0.73	0.72	0.65	0.64
Accounts Receivable Turnover	3.91	3.61	3.92	4.30	4.54	3.95	4.31	4.43	4.12	3.39	3.47
Inventory Turnover	2.27	2.46	3.15	3.19	2.92	2.43	2.33	2.48	2.47	2.04	2.26
Fixed Asset Turnover	17.44	19.94	26.55	25.97	27.04	28.51	29.02	26.92	13.82	8.42	7.58
Accounts Payable Turnover	4.71	4.96	5.35	5.65	6.02	6.19	8.06	9.14	8.19	6.83	5.26
Days Sales Outstanding (DSO)	93.24	101.12	93.17	84.92	80.35	92.30	84.66	82.36	88.60	107.76	105.30
Days Inventory Outstanding (DIO)	160.95	148.40	115.73	114.41	124.87	150.51	156.90	147.32	147.66	179.01	161.59
Days Payable Outstanding (DPO)	77.45	73.53	68.28	64.64	60.61	58.97	45.28	39.92	44.56	53.45	69.45
Cash Conversion Cycle (CCC)	176.74	175.99	140.62	134.70	144.60	183.85	196.28	189.77	191.71	233.31	197.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4.66	-20	-32	-33	-24	-21	-42	24	49	49	36
Invested Capital Turnover	-74.21	-25.74	-8.83	-7.32	-8.11	-9.32	-7.13	-27.31	7.74	5.18	6.17
Increase / (Decrease) in Invested Capital	14	-25	-12	-1.15	8.26	3.36	-21	66	25	0.00	-12
Enterprise Value (EV)	161	298	418	390	311	418	647	1,045	1,018	798	1,159
Market Capitalization	253	396	533	521	439	502	721	1,230	1,177	957	1,354
Book Value per Share	$1.59	$1.23	$1.23	$1.39	$1.41	$1.42	$1.51	$2.69	$2.83	$2.80	$3.14
Tangible Book Value per Share	$1.59	$1.22	$1.11	$1.30	$1.34	$1.37	$1.48	$2.68	$2.81	$2.79	$3.12
Total Capital	97	78	83	98	104	109	116	209	208	208	232
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-92	-98	-114	-131	-128	-84	-75	-185	-159	-159	-196
Capital Expenditures (CapEx)	6.10	3.48	4.87	5.73	2.80	4.34	3.56	5.17	11	11	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	8.75	-8.57	-19	-20	-11	39	60	-17	1.46	1.46	-12
Debt-free Net Working Capital (DFNWC)	101	90	95	111	118	123	135	168	161	161	184
Net Working Capital (NWC)	101	90	95	111	118	123	135	168	161	161	184
Net Nonoperating Expense (NNE)	14	14	7.99	3.49	8.24	5.85	-1.31	5.24	0.32	-4.70	-12
Net Nonoperating Obligations (NNO)	-92	-98	-114	-131	-128	-130	-158	-185	-159	-159	-196
Total Depreciation and Amortization (D&A)	10	8.72	8.27	8.51	7.88	10	11	8.91	7.38	9.35	11
Debt-free, Cash-free Net Working Capital to Revenue	4.88%	-4.36%	-8.39%	-8.52%	-4.65%	18.43%	26.46%	-6.84%	0.52%	0.58%	-4.53%
Debt-free Net Working Capital to Revenue	56.07%	45.62%	41.92%	47.18%	50.63%	58.02%	59.65%	67.16%	57.34%	63.87%	70.20%
Net Working Capital to Revenue	56.07%	45.62%	41.92%	47.18%	50.63%	58.02%	59.65%	67.16%	57.34%	63.87%	70.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.74)	($0.64)	($0.32)	($0.15)	($0.38)	($0.23)	$0.23	$1.23	$0.00	$0.00	$0.68
Adjusted Weighted Average Basic Shares Outstanding	48.68M	64.31M	68.35M	70.05M	75.05M	78.27M	77.78M	77.05M	0.00	0.00	74.09M
Adjusted Diluted Earnings per Share	($0.74)	($0.64)	($0.32)	($0.15)	($0.38)	($0.23)	$0.22	$1.19	$0.00	$0.00	$0.67
Adjusted Weighted Average Diluted Shares Outstanding	48.68M	64.31M	68.35M	70.05M	75.05M	78.27M	80.02M	80.04M	0.00	0.00	75.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	($0.64)	($0.32)	($0.15)	($0.38)	($0.23)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	61.54M	62.43M	65.70M	70.05M	72.88M	76.08M	76.91M	76.39M	0.00	0.00	73.97M
Normalized Net Operating Profit after Tax (NOPAT)	-21	-27	-13	-7.26	-19	-10	17	23	47	35	38
Normalized NOPAT Margin	-11.80%	-13.59%	-5.69%	-3.08%	-8.34%	-4.79%	7.32%	9.35%	16.85%	14.01%	14.50%
Pre Tax Income Margin	-18.50%	-20.96%	-9.52%	-4.05%	-11.43%	-7.72%	8.49%	12.65%	18.80%	17.40%	22.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-29.45	-79.19	-48.51	-64.02	-214.57	-72.13	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-20.61	-55.43	-33.96	-44.82	-150.20	-50.49	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-35.38	-86.02	-60.00	-99.42	-236.25	-90.44	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-26.55	-62.27	-45.45	-80.21	-171.88	-68.80	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.09%	33.94%	44.58%	35.49%
Augmented Payout Ratio	0.00%	0.00%	-8.03%	-28.56%	0.00%	0.00%	182.64%	23.34%	202.91%	84.54%	95.49%

This table displays calculated financial ratios and metrics derived from A10 Networks' official financial filings.

Metric	Q2 2022	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	6/30/2022	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2025	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.88%	10.25%	9.85%	-7.95%	-3.17%	-19.82%	-9.30%	14.64%	-8.69%	15.48%	5.38%
EBITDA Growth	63.80%	34.83%	38.22%	-34.28%	6.79%	-65.51%	8.23%	87.94%	-26.38%	170.25%	4.55%
EBIT Growth	91.84%	47.40%	44.41%	-46.42%	5.25%	-78.40%	5.27%	120.01%	-34.83%	299.09%	2.17%
NOPAT Growth	49.48%	-83.68%	59.21%	-26.90%	-4.16%	-76.89%	-5.71%	61.21%	-29.06%	218.47%	-7.33%
Net Income Growth	57.44%	-83.82%	68.06%	-37.66%	11.62%	-46.59%	-0.63%	141.11%	-18.49%	95.35%	2.14%
EPS Growth	62.50%	-82.98%	64.29%	-37.50%	15.38%	-43.75%	4.35%	160.00%	-13.33%	88.89%	0.00%
Operating Cash Flow Growth	-48.54%	-35.53%	207.25%	-105.32%	121.56%	64.33%	-90.01%	3,934.99%	-37.62%	-12.70%	841.41%
Free Cash Flow Firm Growth	-465.12%	-119.12%	87.55%	71.00%	97.62%	282.53%	347.88%	40.18%	702.70%	-76.28%	65.52%
Invested Capital Growth	166.11%	104.24%	103.71%	92.54%	39.55%	-15.41%	0.00%	41.03%	-4.64%	26.12%	-25.33%
Revenue Q/Q Growth	8.46%	6.01%	7.74%	-25.69%	14.09%	-12.22%	21.88%	-6.08%	-0.95%	11.02%	11.22%
EBITDA Q/Q Growth	66.18%	8.57%	13.97%	-71.05%	170.04%	-64.93%	257.64%	-44.51%	-1.59%	28.74%	38.36%
EBIT Q/Q Growth	82.42%	10.06%	15.60%	-76.91%	258.32%	-77.41%	463.39%	-51.75%	-3.32%	38.31%	44.23%
NOPAT Q/Q Growth	48.08%	24.06%	43.76%	-72.32%	94.14%	-70.09%	486.54%	-52.67%	9.23%	34.29%	70.68%
Net Income Q/Q Growth	64.06%	16.29%	48.85%	-78.05%	193.73%	-44.36%	176.97%	-46.74%	-2.57%	33.36%	44.82%
EPS Q/Q Growth	62.50%	23.08%	43.75%	-78.26%	200.00%	-40.00%	166.67%	-45.83%	0.00%	30.77%	41.18%
Operating Cash Flow Q/Q Growth	-44.48%	58.89%	94.73%	-114.74%	2,413.00%	17.85%	-88.16%	1,087.99%	-62.38%	64.94%	27.71%
Free Cash Flow Firm Q/Q Growth	-18.58%	92.76%	-56.27%	-116.11%	90.27%	655.33%	112.21%	-152.16%	-42.31%	-78.14%	1,380.50%
Invested Capital Q/Q Growth	31.46%	17.86%	47.37%	-15.68%	-4.72%	-28.56%	74.23%	18.92%	15.45%	-5.52%	3.15%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	80.16%	79.51%	79.72%	82.29%	79.54%	80.95%	81.15%	79.68%	79.97%	80.46%	79.92%
EBITDA Margin	22.53%	23.07%	24.41%	10.50%	24.84%	9.92%	29.12%	17.21%	20.03%	23.23%	28.89%
Operating Margin	19.34%	21.74%	20.95%	10.69%	18.64%	3.82%	25.57%	13.27%	13.17%	15.65%	24.79%
EBIT Margin	19.78%	20.53%	22.03%	6.85%	21.50%	5.53%	25.57%	13.14%	15.35%	19.12%	24.79%
Profit (Net Income) Margin	15.32%	16.81%	23.22%	6.86%	17.66%	11.20%	25.44%	14.43%	15.77%	18.94%	24.66%
Tax Burden Percent	76.43%	79.54%	110.14%	80.41%	78.49%	130.37%	93.81%	91.08%	86.28%	87.82%	85.09%
Interest Burden Percent	101.37%	102.92%	95.70%	124.64%	104.68%	155.26%	106.07%	120.60%	119.10%	112.81%	116.91%
Effective Tax Rate	23.57%	20.46%	-10.14%	19.59%	21.51%	-30.37%	6.19%	8.92%	13.72%	12.18%	14.91%
Return on Invested Capital (ROIC)	0.00%	192.58%	178.66%	76.07%	119.31%	42.43%	124.30%	63.71%	0.00%	0.00%	130.13%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	192.81%	178.59%	76.71%	118.06%	40.01%	123.65%	62.61%	0.00%	0.00%	128.64%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-166.82%	-147.56%	-63.86%	-97.66%	-33.20%	-94.76%	-46.40%	0.00%	0.00%	-103.82%
Return on Equity (ROE)	64.13%	25.76%	31.10%	12.20%	21.65%	9.22%	29.54%	17.30%	0.00%	0.00%	26.31%
Cash Return on Invested Capital (CROIC)	93.68%	98.88%	62.14%	82.92%	100.92%	135.12%	72.61%	43.11%	4.75%	-23.10%	118.45%
Operating Return on Assets (OROA)	15.50%	15.44%	15.78%	5.24%	15.60%	3.92%	16.51%	7.09%	0.00%	0.00%	15.77%
Return on Assets (ROA)	12.01%	12.64%	16.63%	5.25%	12.82%	7.94%	16.43%	7.79%	0.00%	0.00%	15.69%
Return on Common Equity (ROCE)	64.13%	25.76%	31.10%	12.20%	21.65%	9.22%	29.54%	17.30%	0.00%	0.00%	26.31%
Return on Equity Simple (ROE_SIMPLE)	52.57%	24.64%	0.00%	24.00%	23.70%	20.35%	0.00%	23.26%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	10	12	18	4.96	9.63	2.88	17	7.99	6.83	9.17	16
NOPAT Margin	14.78%	17.29%	23.08%	8.60%	14.63%	4.98%	23.99%	12.09%	11.36%	13.75%	21.10%
Net Nonoperating Expense Percent (NNEP)	0.22%	-0.22%	0.07%	-0.65%	1.25%	2.42%	0.64%	1.10%	1.60%	1.97%	1.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	8.62%	-	-	-	8.13%	1.93%	-	-	6.75%
Cost of Revenue to Revenue	19.84%	20.49%	20.28%	17.71%	20.46%	19.06%	18.85%	20.32%	20.03%	19.54%	20.08%
SG&A Expenses to Revenue	7.85%	7.86%	8.19%	12.67%	7.98%	9.72%	8.11%	12.81%	9.90%	9.73%	8.22%
R&D to Revenue	20.94%	19.93%	21.79%	20.22%	21.22%	30.50%	17.01%	24.04%	24.52%	23.58%	17.78%
Operating Expenses to Revenue	60.83%	57.77%	58.77%	71.60%	60.91%	77.12%	55.58%	66.40%	66.80%	64.81%	55.13%
Earnings before Interest and Taxes (EBIT)	13	15	17	3.95	14	3.20	18	8.69	9.22	13	18
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	15	17	19	6.06	16	5.73	21	11	12	15	21
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.40	6.08	5.66	6.03	5.47	5.56	4.61	6.17	4.79	4.91	5.84
Price to Tangible Book Value (P/TBV)	5.43	6.13	5.70	6.07	5.51	5.59	4.64	6.97	4.82	4.94	5.87
Price to Revenue (P/Rev)	3.94	3.58	4.20	4.06	3.86	4.23	3.80	4.65	0.00	0.00	5.17
Price to Earnings (P/E)	10.26	24.68	25.10	25.11	23.09	27.29	23.96	26.53	0.00	0.00	27.01
Dividend Yield	1.08%	1.56%	1.31%	1.46%	1.61%	1.63%	1.86%	1.47%	1.74%	1.66%	1.31%
Earnings Yield	9.74%	4.05%	3.98%	3.98%	4.33%	3.66%	4.17%	3.77%	0.00%	0.00%	3.70%
Enterprise Value to Invested Capital (EV/IC)	31.61	25.78	20.96	23.76	23.11	33.17	16.43	18.53	22.82	25.15	31.94
Enterprise Value to Revenue (EV/Rev)	3.32	3.11	3.63	3.53	3.30	3.57	3.17	4.12	0.00	0.00	4.43
Enterprise Value to EBITDA (EV/EBITDA)	17.28	15.16	16.94	17.09	15.55	19.64	16.63	20.63	0.00	0.00	20.97
Enterprise Value to EBIT (EV/EBIT)	20.42	17.46	19.31	19.74	18.04	24.09	20.65	25.95	0.00	0.00	26.35
Enterprise Value to NOPAT (EV/NOPAT)	9.16	20.67	21.55	21.40	20.10	25.67	22.63	28.11	0.00	0.00	30.53
Enterprise Value to Operating Cash Flow (EV/OCF)	15.96	17.82	15.40	19.72	15.01	13.38	17.93	17.11	0.00	0.00	12.80
Enterprise Value to Free Cash Flow (EV/FCFF)	33.75	35.00	45.24	37.72	26.68	22.50	22.63	50.31	469.45	0.00	23.06
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.11	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.11	0.00	0.00	0.00
Financial Leverage	-1.04	-0.87	-0.83	-0.83	-0.83	-0.83	-0.77	-0.74	-0.81	-0.85	-0.81
Leverage Ratio	2.13	2.00	1.88	1.94	1.94	2.04	1.88	2.53	1.88	1.90	1.87
Compound Leverage Factor	2.16	2.05	1.80	2.41	2.03	3.17	1.99	3.05	2.24	2.14	2.19
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	52.64%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	52.64%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	47.36%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.20	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-2.66	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.20	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.72	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-3.63	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.72	0.00	0.00	0.00
Altman Z-Score	4.01	3.77	4.92	4.69	4.53	4.43	4.13	2.86	3.68	3.72	5.17
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.22	1.94	2.45	2.38	2.40	2.38	2.45	4.05	2.39	2.23	2.49
Quick Ratio	1.92	1.65	2.10	2.05	2.08	2.05	2.10	3.72	2.04	1.94	2.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-60	-4.36	-6.81	-15	-1.43	7.96	17	-8.81	8.64	1.89	28
Operating Cash Flow to CapEx	468.79%	433.12%	1,076.71%	-31.63%	818.74%	858.24%	86.86%	1,109.20%	349.84%	579.84%	1,079.35%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.78	0.75	0.72	0.77	0.73	0.71	0.65	0.54	0.00	0.00	0.64
Accounts Receivable Turnover	4.52	4.55	4.12	4.74	3.99	3.91	3.39	3.93	0.00	0.00	3.47
Inventory Turnover	2.62	2.73	2.47	2.63	2.56	2.25	2.04	2.50	0.00	0.00	2.26
Fixed Asset Turnover	22.04	19.87	13.82	15.40	13.57	11.77	8.42	8.07	0.00	0.00	7.58
Accounts Payable Turnover	9.57	11.28	8.19	9.95	9.06	7.07	6.83	7.56	0.00	0.00	5.26
Days Sales Outstanding (DSO)	80.84	80.30	88.60	77.07	91.57	93.44	107.76	92.87	0.00	0.00	105.30
Days Inventory Outstanding (DIO)	139.37	133.59	147.66	138.78	142.68	162.30	179.01	145.93	0.00	0.00	161.59
Days Payable Outstanding (DPO)	38.16	32.36	44.56	36.70	40.30	51.60	53.45	48.28	0.00	0.00	69.45
Cash Conversion Cycle (CCC)	182.05	181.53	191.71	179.16	193.95	204.15	233.31	190.52	0.00	0.00	197.44
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	28	33	49	41	39	28	49	58	37	35	36
Invested Capital Turnover	-37.20	11.14	7.74	8.85	8.16	8.51	5.18	5.27	0.00	0.00	6.17
Increase / (Decrease) in Invested Capital	70	17	25	20	11	-5.08	0.00	17	-1.81	7.28	-12
Enterprise Value (EV)	884	850	1,018	973	902	925	798	1,071	849	885	1,159
Market Capitalization	1,051	977	1,177	1,118	1,056	1,094	957	1,209	1,026	1,067	1,354
Book Value per Share	$2.57	$2.11	$2.83	$2.50	$2.61	$2.66	$2.80	$2.65	$2.88	$2.94	$3.14
Tangible Book Value per Share	$2.55	$2.09	$2.81	$2.49	$2.59	$2.64	$2.79	$2.34	$2.86	$2.92	$3.12
Total Capital	195	161	208	186	193	197	208	414	214	217	232
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	218	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	218	0.00	0.00	0.00
Net Debt	-167	-128	-159	-145	-154	-169	-159	-138	-177	-182	-196
Capital Expenditures (CapEx)	1.88	3.24	2.54	2.68	2.39	2.69	3.14	2.93	3.49	3.47	2.38
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-18	-12	1.46	-2.59	-4.52	-16	1.46	-11	-17	-25	-12
Debt-free Net Working Capital (DFNWC)	149	115	161	142	149	153	161	345	160	157	184
Net Working Capital (NWC)	149	115	161	142	149	153	161	345	160	157	184
Net Nonoperating Expense (NNE)	-0.37	0.35	-0.11	1.00	-2.00	-3.59	-1.03	-1.55	-2.65	-3.47	-2.65
Net Nonoperating Obligations (NNO)	-167	-128	-159	-145	-154	-169	-159	-138	-177	-182	-196
Total Depreciation and Amortization (D&A)	1.87	1.83	1.84	2.11	2.20	2.54	2.50	2.69	2.82	2.74	3.05
Debt-free, Cash-free Net Working Capital to Revenue	-6.59%	-4.56%	0.52%	-0.94%	-1.66%	-6.08%	0.58%	-4.18%	0.00%	0.00%	-4.53%
Debt-free Net Working Capital to Revenue	55.95%	42.18%	57.34%	51.55%	54.68%	59.21%	63.87%	132.60%	0.00%	0.00%	70.20%
Net Working Capital to Revenue	55.95%	42.18%	57.34%	51.55%	54.68%	59.21%	63.87%	132.60%	0.00%	0.00%	70.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.14	$0.16	$0.24	$0.05	$0.16	$0.09	$0.24	$0.13	$0.13	$0.17	$0.25
Adjusted Weighted Average Basic Shares Outstanding	75.89M	75.88M	75.53M	74.00M	74.02M	74.53M	74.21M	73.56M	74.37M	73.82M	74.09M
Adjusted Diluted Earnings per Share	$0.13	$0.16	$0.23	$0.05	$0.15	$0.09	$0.24	$0.13	$0.13	$0.17	$0.24
Adjusted Weighted Average Diluted Shares Outstanding	78.31M	77.68M	77.75M	75.54M	75.43M	75.81M	75.55M	75.05M	75.50M	74.78M	75.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	76.17M	73.45M	148.99M	73.97M	74.11M	74.14M	0.00	72.08M	73.87M	73.80M	73.97M
Normalized Net Operating Profit after Tax (NOPAT)	10	12	11	4.96	9.63	1.55	17	7.99	6.83	9.17	16
Normalized NOPAT Margin	14.78%	17.29%	14.67%	8.60%	14.63%	2.68%	23.99%	12.09%	11.36%	13.75%	21.10%
Pre Tax Income Margin	20.05%	21.13%	21.09%	8.53%	22.50%	8.59%	27.12%	15.84%	18.28%	21.57%	28.98%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	11.27%	38.86%	33.94%	37.06%	37.48%	44.36%	44.58%	39.08%	0.00%	0.00%	35.49%
Augmented Payout Ratio	49.18%	256.79%	202.91%	151.48%	154.98%	65.99%	84.54%	177.39%	0.00%	0.00%	95.49%

Key Financial Trends

A10 Networks has shown steady revenue growth and strong cash generation over the last four years, alongside robust margins and a debt‐free balance sheet. Below are the key factors investors should watch:

Q4 2024 total revenue of $74.2 M represents 5.4% YoY growth and 11.2% QoQ acceleration, demonstrating continued top-line momentum.
Q4 2024 net income reached $18.3 M (EPS $0.25), up 2.1% YoY and nearly 45% higher than Q3 2024, reflecting improved profitability.
Operating cash flow surged to $25.7 M in Q4 2024 versus $2.7 M in Q4 2023, underscoring strong free-cash-flow generation.
Net debt remained negative $195.6 M in Q4 2024, with zero long-term debt and a quick ratio of 2.20, highlighting a fortress balance sheet.
Gross margin has stayed consistently high at around 80%, indicating stable pricing power and cost control.
R&D expense trended at 17.8% of revenue in Q4 2024, down from peaks above 23% earlier in 2024, reflecting ongoing product investment.
Capital expenditures remain modest at about $2.4 M in Q4 2024, supporting infrastructure maintenance rather than heavy expansion.
Return on invested capital (ROIC) was only 1.3% in Q4 2024, below likely hurdle rates, signaling limited capital efficiency.
NOPAT declined by 7.3% YoY in Q4 2024, showing pressure on core operating profit after tax.
Cash conversion cycle extended to approximately 197 days, tying up working capital in receivables and inventory.

07/03/25 10:34 AMAI Generated. May Contain Errors.

Frequently Asked Questions About A10 Networks' Financials

When does A10 Networks' financial year end?

According to the most recent income statement we have on file, A10 Networks' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has A10 Networks' net income changed over the last 10 years?

A10 Networks' net income appears to be on an upward trend, with a most recent value of $50.14 million in 2024, falling from -$34.72 million in 2014. The previous period was $39.97 million in 2023. Find out what analysts predict for A10 Networks in the coming months.

What is A10 Networks' operating income?

A10 Networks' total operating income in 2024 was $43.97 million, based on the following breakdown:

Total Gross Profit: $210.28 million
Total Operating Expenses: $166.31 million

How has A10 Networks' revenue changed over the last 10 years?

Over the last 10 years, A10 Networks' total revenue changed from $179.51 million in 2014 to $261.70 million in 2024, a change of 45.8%.

How much debt does A10 Networks have?

A10 Networks' total liabilities were at $200.99 million at the end of 2024, a 10.5% increase from 2023, and a 122.3% increase since 2014.

How much cash does A10 Networks have?

In the past 10 years, A10 Networks' cash and equivalents has ranged from $0.00 in 2019 to $98.12 million in 2015, and is currently $95.13 million as of their latest financial filing in 2024.

How has A10 Networks' book value per share changed over the last 10 years?

Over the last 10 years, A10 Networks' book value per share changed from 1.59 in 2014 to 3.14 in 2024, a change of 97.5%.

Related Companies

This page (NYSE:ATEN) was last updated on 7/3/2025 by MarketBeat.com Staff

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A10 Networks (ATEN) Financials

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A10 Networks (ATEN) Financials

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