Southern Co
Change company Symbol lookup
Select an option...
SOJD Southern Co
RADA Rada Electronic Industries Ltd
BRZE Braze Inc
MGF MFS? Government Markets Income
LI Li Auto Inc
APAC Stonebridge Acquisition Corp
KAJMF Kajima Corp
TALKW Talkspace Equity Warrant Exp 21 June 2025 *W EXP 06/21/2025
GCTK GlucoTrack Inc
SIVBP SVB Financial Group
Go

Company profile

The Southern Company is a holding company that owns all of the outstanding common stock of three traditional electric operating companies, Southern Power Company, and Southern Company Gas. The traditional electric operating companies, such as Alabama Power, Georgia Power, and Mississippi Power are each operating public utility companies providing electric service to retail customers in three Southeastern states in addition to wholesale customers in the Southeast. The Southern Power Company develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects, and sells electricity at market-based rates in the wholesale market. The Southern Company Gas is an energy services holding company whose primary business is the distribution of natural gas in four states, such as Illinois, Georgia, Virginia, and Tennessee through the natural gas distribution utilities. The Southern Company Gas is also involved in several other businesses.

Closing Price
$20.67
Day's Change
-0.31 (-1.48%)
Bid
--
Ask
--
B/A Size
--
Day's High
21.07
Day's Low
20.65
Volume
(Heavy Day)
Volume:
143,661

10-day average volume:
112,806
143,661

A10 Networks Reports 14.9% Organic Growth for Q2 2022, Driven by Growth in Proprietary Security-Led Solutions

4:06 pm ET August 2, 2022 (BusinessWire) Print

--Company reiterates full-year guidance

A10 Networks (NYSE: ATEN), a leading provider of cybersecurity and infrastructure solutions, today announced financial results for its second quarter and six-month period ended June 30, 2022.

Second Quarter 2022 Financial Summary

Revenue of $68.0 million, up 14.9% year-over-year. Revenue growth led by a 33.7% increase in the Americas year-over-year. GAAP gross margin of 80.2%; non-GAAP gross margin of 80.6% as a result of better product mix and continued successful navigation of short-term input cost pressures. GAAP net income of $10.4 million, or $0.13 per diluted share, compared with GAAP net income of $6.6 million, or $0.08 per diluted share in the second quarter of 2021. Non-GAAP net income of $13.4 million, or $0.17 per diluted share, compared with non-GAAP net income of $10.5 million, or $0.13 per diluted share in the second quarter of 2021. Adjusted EBITDA of $18.0 million, representing 26.4% of revenue, in line with stated business model goals. Returned $7.2 million to shareholders through the repurchase of approximately 248,000 shares during the quarter for a total of $3.4 million and the issuance of $3.8 million in cash dividends. The Board of Directors declared a quarterly cash dividend of $0.05 per share, payable on September 1, 2022 to stockholders of record at the close of business on August 15, 2022.

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

"Continued strong demand for our proprietary, security-led solutions, combined with sustained business execution, resulted in 14.9% top-line growth and overall performance that exceeded our 'Rule of 40' target," said Dhrupad Trivedi, President and Chief Executive Officer of A10 Networks. "The increasing threat of cyberattacks, exacerbated by geopolitical events in Europe, Asia and elsewhere, make our security and infrastructure solutions a growing priority even as certain non-security investments are reprioritized due to macroeconomic concerns. We are capturing market share through better technology that helps our customers to achieve their business goals and we continue to invest in strategic growth opportunities. Simultaneously, our proven business model, including gross profit margins exceeding 80% and Adjusted EBITDA margins of 26% enable us to deliver consistent shareholder returns through share repurchases and a quarterly cash dividend."

"We have been able to successfully navigate supply chain challenges and input cost pressures, as evidenced by our stable gross margins, and we expect these challenges will persist for some time," continued Trivedi. "We reiterate our full year targets around top line growth of 10 - 12% and expanding EBITDA in the range of 26 - 28% of revenue. Our targeted, strategic investments in technology are enabling us to capture market share, while our diversity of revenue and cybersecurity solutions serve as catalysts for durable growth, even amidst macroeconomic conditions."

Conference Call

Management will host a call at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) today, August 2, 2022, to discuss these results. Interested parties may access the conference call by dialing (844) 200-6205 (toll-free) or (929) 526-1599 and entering passcode 598873.

A live audio webcast of the conference call will be accessible from the "Investor Relations" section of A10 Network's website at investors.a10networks.com. The webcast will be archived for at least 90 days. A telephonic replay of the conference call will be available two hours after the conclusion of the live call and will run for seven days and may be accessed by dialing (866) 813-9403 (toll-free) or (929) 458-6194 and entering the passcode 107391.

Forward-Looking Statements

This press release contains "forward-looking statements," including statements regarding our anticipated future financial results, quarterly dividend payments, drivers of growth, demand, supply chain challenges, positioning, growth and EBITDA expectations. 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 the impact of the COVID-19 pandemic on our business and the business of our customers; a significant decline in global macroeconomic or political conditions that have an adverse impact on our business and financial results; business interruptions related to our supply chain; our ability to manage our business and expenses if customers cancel or delay orders; 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 maintain or improve our competitive position; competitive and execution risks related to cloud-based computing trends; our ability to attract and retain new end-customers and our largest end-consumers; our ability to maintain and enhance our brand and reputation, changes demanded by our customers in the deployment and payment model for our products; 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; risks associated with our presence in international markets; weaknesses or deficiencies in our internal control over financial reporting; our ability to timely file periodic reports required to be filed under the Securities Exchange Act of 1934; and other risks that are described in "Risk Factors" in our periodic filings with the Securities and Exchange Commission, including our Form 10-K filed with the Securities and Exchange Commission on March 8, 2022. We do not intend to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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 tables and Exhibit 99.2 to our Current Report on Form 8-K filed with the Securities and Exchange Commission on the date of this release contain certain non-GAAP financial measures, including non-GAAP net income, non-GAAP net income per basic and diluted share, non-GAAP gross profit and gross margin, non-GAAP operating income and operating margin, non-GAAP operating expenses, and Adjusted EBITDA. 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.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP.

We define non-GAAP net income as our GAAP net income excluding: (i) stock-based compensation and related payroll tax, (ii) amortization expense related to acquisition and (iii) global distribution center transition expense. We define non-GAAP net income per basic and diluted share as our non-GAAP net income divided by our basic and diluted weighted-average shares outstanding. We define non-GAAP gross profit as our GAAP gross profit excluding (i) stock-based compensation and related payroll tax, and (ii) global distribution center transition expense. We define non-GAAP gross margin as our non-GAAP gross profit divided by our GAAP revenue. We define non-GAAP operating income as our GAAP income from operations excluding (i) stock-based compensation and related payroll tax, (ii) amortization expense related to acquisition and (iii) global distribution center transition expense. We define non-GAAP operating margin as our non-GAAP operating income divided by our GAAP revenue. We define non-GAAP operating expenses as our GAAP operating expenses excluding (i) stock-based compensation and related payroll tax, (ii) amortization expense related to acquisition and (iii) global distribution center transition expense. We define Adjusted EBITDA as our GAAP net income excluding (i) interest expense (if any), (ii) interest income and other (income) expense, net, (iii) depreciation and amortization expense, (iv) benefit from (provision for) income taxes, (v) stock-based compensation and related payroll tax and (vi) global distribution center transition expense.

We have included our non-GAAP net income, non-GAAP gross profit and gross margin, non-GAAP operating income and operating margin, non-GAAP operating expenses and Adjusted EBITDA in this press release. Non-GAAP financial measures are presented for supplemental informational purposes only for understanding the company's operating results.

About A10 Networks

A10 Networks (NYSE: ATEN) provides secure application services and solutions for on-premises, multi-cloud and edge-cloud environments at hyperscale. Our mission is to enable service providers and enterprises to deliver business-critical applications that are secure, available and efficient for multi-cloud transformation and 5G readiness. We deliver better business outcomes that support investment protection, new business models and help future-proof infrastructures, empowering our customers to provide the most secure and available digital experience. Founded in 2004, A10 Networks is based in San Jose, Calif. and serves customers globally. For more information, visit https://www.a10networks.com/ and follow us @A10Networks.

The A10 logo and A10 Networks 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.

                                                                                                                                                 A10 NETWORKS, INC.
                                                                                                                                   CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                                                                                                        (unaudited, in thousands, except per share amounts, on a GAAP Basis)
                                                                                                                                   
                                                                                   Three Months Ended June 30,                                                                                       Six Months Ended June 30,
                                                                ------------------------------------------------------------------------------------------------                           ------------------------------------------------------------------------------------------------------------------
                                                           2022                                      2021                                                2022                                                2021
                                                                ------------------------------                       ----------------------------------------------                        -----------------------------------------------                        -----------------------------------------------
Revenue:                                                                                                                                         
                                                                                   $     41,475                      $ 34,363                        $  78,520                        $  64,903  
   Products
                                                                      26,498     24,805        52,125        49,108  
   Services
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
                                                                      67,973     59,168       130,645       114,011  
      Total revenue
Cost of revenue:                                                                                                                                 
                                                                       9,518      8,215        18,151        15,301  
   Products
                                                                       3,967      5,415         8,173        10,828  
   Services
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
                                                                      13,485     13,630        26,324        26,129  
      Total cost of revenue
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
Gross profit                                                          54,488     45,538       104,321        87,882  
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
Operating expenses:                                                                                                                              
                                                                      21,773     19,749        44,555        38,841  
   Sales and marketing
                                                                      14,235     13,491        27,122        27,472  
   Research and development
                                                                       5,337      5,082        11,499        10,329  
   General and administrative
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
                                                                      41,345     38,322        83,176        76,642  
      Total operating expenses
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
Income from operations                                                13,143      7,216        21,145        11,240  
Non-operating income (expense), net:                                                                                                             
                                                                         184         96           304           241  
   Interest income
                                                                         301       (208 )                           (332 )                         (1,536 )
   Other income (expense), net
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
                                                                         485       (112 )                            (28 )                         (1,295 )
      Total non-operating income (expense), net
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
Income before provision for income taxes                              13,628      7,104        21,117         9,945  
Provision for income taxes                                             3,212        488         4,352           672  
                                                                -------------------- ----------                      -------------------- ------ --------------------                      -------------------- ------- --------------------                      -------------------- ------- --------------------
Net income                                                                         $     10,416                      $  6,616                        $  16,765                        $   9,273  
                                                                ==================== ==========                      ==================== ====== ====================                      ==================== ======= ====================                      ==================== ======= ====================
Net income per share:                                                                                                                            
                                                                                   $       0.14                      $   0.09                        $    0.22                        $    0.12  
   Basic
                                                                ==================== ==========                      ==================== ====== ====================                      ==================== ======= ====================                      ==================== ======= ====================
                                                                                   $       0.13                      $   0.08                        $    0.21                        $    0.12  
   Diluted
                                                                ==================== ==========                      ==================== ====== ====================                      ==================== ======= ====================                      ==================== ======= ====================
Weighted-average shares used in computing net income per share:                                                                                  
                                                                      75,893     76,774        76,343        76,745  
   Basic
                                                                ==================== ==========                      ==================== ====== ====================                      ==================== ======= ====================                      ==================== ======= ====================
                                                                                                                                               A10 NETWORKS, INC.
                                                                                                                            RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME
                                                                                                                               (unaudited, in thousands, except per share amounts)
                                                                                                                                               
                                                                                             Three Months Ended June 30,                                                                                 Six Months Ended June 30,
                                                                         ----------------------------------------------------------------------------------------------------                          ----------------------------------------------------------------------------------------------------
                                                                         2022                                        2021                                        2022                                        2021
                                                                         ----------------------------------------                       ----------------------------------------                       ----------------------------------------                       ----------------------------------------
GAAP net income                                                                             $               10,416                      $                6,616                      $               16,765                      $                9,273
Non-GAAP adjustments:                                                                         
                                                                                          2,944                    2,612                    6,625                    7,232
   Stock-based compensation and related payroll tax
                                                                                 --                      252           --                      505
   Amortization expense related to acquisition
                                                                                 --                    1,036           --                    2,947
   Global distribution center transition expense
                                                                         -------------------- --------------------                      -------------------- --------------------                      -------------------- --------------------                      -------------------- --------------------
Non-GAAP net income                                                                         $               13,360                      $               10,516                      $               23,390                      $               19,957
                                                                         ==================== ====================                      ==================== ====================                      ==================== ====================                      ==================== ====================
                                                                           
                                                                           
GAAP net income per share:                                                                    
                                                                                            $                 0.14                      $                 0.09                      $                 0.22                      $                 0.12
   Basic
                                                                         ==================== ====================                      ==================== ====================                      ==================== ====================                      ==================== ====================
                                                                                            $                 0.13                      $                 0.08                      $                 0.21                      $                 0.12
   Diluted
                                                                         ==================== ====================                      ==================== ====================                      ==================== ====================                      ==================== ====================
Non-GAAP adjustments:                                                                         
                                                                                           0.04                     0.04                     0.09                     0.09
   Stock-based compensation and related payroll tax
                                                                                 --                     0.00           --                     0.01
   Amortization expense related to acquisition
                                                                                 --                     0.01           --                     0.04
   Global distribution center transition expense
Non-GAAP net income per share:                                                                
                                                                                            $                 0.18                      $                 0.14                      $                 0.31                      $                 0.26
   Basic
                                                                         ==================== ====================                      ==================== ====================                      ==================== ====================                      ==================== ====================
                                                                                            $                 0.17                      $                 0.13                      $                 0.30                      $                 0.25
   Diluted
                                                                         ==================== ====================                      ==================== ====================                      ==================== ====================                      ==================== ====================
Weighted-average shares used in computing non-GAAP net income per share:                      
                                                                                         75,893                   76,774                   76,343                   76,745
   Basic
                                                                         ==================== ====================                      ==================== ====================                      ==================== ====================                      ==================== ====================
                                                                                                                                A10 NETWORKS, INC.
                                                                                                                       CONDENSED CONSOLIDATED BALANCE SHEETS
                                                                                                           (unaudited, in thousands, except par value, on a GAAP Basis)
                                                                                                                                                                       
                                                                                                                                                         June 30,                                           December 31,
                                                                                                                                                                              2022                                                                    2021
                                                                                                                                                       ------------------------------------------------                        ------------------------------------------------
                                                                                                                                      ASSETS
Current assets:                                                                                                                                                                           
                                                                                                                                                                          $   84,242                        $   78,925  
   Cash and cash equivalents
                                                                                                                                                           82,551        106,117  
   Marketable securities
                                                                                                                                                           67,908         61,795  
   Accounts receivable, net of allowances of $447 and $543, respectively
                                                                                                                                                           21,926         22,462  
   Inventory
                                                                                                                                                           15,038         14,720  
   Prepaid expenses and other current assets
                                                                                                                                                       -------------------- -------- --------------------                      -------------------- -------- --------------------
                                                                                                                                                          271,665        284,019  
      Total current assets
Property and equipment, net                                                                                                                                15,046         10,692  
Goodwill                                                                                                                                                    1,307          1,307  
Deferred tax assets, net                                                                                                                                   65,557         65,773  
Other non-current assets                                                                                                                                   30,990         31,294  
                                                                                                                                                       -------------------- -------- --------------------                      -------------------- -------- --------------------
                                                                                                                                                                          $  384,565                        $  393,085  
      Total assets
                                                                                                                                                       ==================== ======== ====================                      ==================== ======== ====================
                                                                                                          LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:                                                                                                                                                                      
                                                                                                                                                                          $    5,567                        $    6,852  
   Accounts payable
                                                                                                                                                           36,870         36,101  
   Accrued liabilities
                                                                                                                                                           80,022         73,132  
   Deferred revenue
                                                                                                                                                       -------------------- -------- --------------------                      -------------------- -------- --------------------
                                                                                                                                                          122,459        116,085  
      Total current liabilities
Deferred revenue, non-current                                                                                                                              47,848         48,499  
Other non-current liabilities                                                                                                                              19,499         19,613  
                                                                                                                                                       -------------------- -------- --------------------                      -------------------- -------- --------------------
                                                                                                                                                          189,806        184,197  
      Total liabilities
                                                                                                                                                       -------------------- -------- --------------------                      -------------------- -------- --------------------
                                                                                                                                                                       
Stockholders' equity:
                                                                                                                                                                1              1  
   Common stock, $0.00001 par value: 500,000 shares authorized; 85,626 and 84,717 shares issued and 75,962 and 77,423 shares outstanding, respectively
                                                                                                                                                          (87,435 )                         (55,677 )
   Treasury stock, at cost: 9,664 and 7,294 shares, respectively
                                                                                                                                                          455,539        446,035  
   Additional paid-in-capital
                                                                                                                                                          (11,543 )                          (3,880 )
   Dividends paid
                                                                                                                                                           (1,206 )                            (229 )
   Accumulated other comprehensive income
                                                                                                                                                         (160,597 )                        (177,362 )
   Accumulated deficit
                                                                                                                                                       -------------------- -------- --------------------                      -------------------- -------- --------------------
                                                                                                                                                          194,759        208,888  
      Total stockholders' equity
                                                                                                                                                       -------------------- -------- --------------------                      -------------------- -------- --------------------
                                                                                                A10 NETWORKS, INC.
                                                                                  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                                                    (unaudited, in thousands, on a GAAP Basis)
                                                                
                                                                                                                   Six Months Ended June 30,
                                                                                  -------------------------------------------------------------------------------------------------------------------------
                                                                                      2022                                                   2021
                                                                                  -----------------------------------------------                        ------------------------------------------------------
Cash flows from operating activities:                                                                               
Net income                                                                                           $  16,765                        $          9,273  
Adjustments to reconcile net income to net cash provided by operating activities:                                   
                                                                                      3,712                4,753  
   Depreciation and amortization
                                                                                      6,313                6,891  
   Stock-based compensation
                                                                                        113                  531  
   Other non-cash items
Changes in operating assets and liabilities:                                                                        
                                                                                     (5,580 )                                   882  
   Accounts receivable
                                                                                        (31 )                                 1,499  
   Inventory
                                                                                     (2,163 )                                (1,200 )
   Prepaid expenses and other assets
                                                                                     (1,283 )                                   821  
   Accounts payable
                                                                                        655              (11,642 )
   Accrued liabilities
                                                                                      6,239                7,628  
   Deferred revenue
                                                                                  -------------------- ------- --------------------                      -------------------- -------------- --------------------
                                                                                     24,740               19,436  
      Net cash provided by operating activities
                                                                                  -------------------- ------- --------------------                      -------------------- -------------- --------------------
Cash flows from investing activities:                                                                               
                                                                                      4,550                2,865  
   Proceeds from sales of marketable securities
                                                                                     39,148               48,586  
   Proceeds from maturities of marketable securities
                                                                                    (21,649 )                               (76,141 )
   Purchases of marketable securities
                                                                                     (5,021 )                                (2,443 )
   Purchases of property and equipment
                                                                                  -------------------- ------- --------------------                      -------------------- -------------- --------------------
                                                                                     17,028              (27,133 )
      Net cash provided by (used in) investing activities
                                                                                  -------------------- ------- --------------------                      -------------------- -------------- --------------------
Cash flows from financing activities:                                                                               
                                                                                      2,970                3,578  
   Proceeds from issuance of common stock under employee equity incentive plans
                                                                                    (31,758 )                               (11,213 )
   Repurchase of common stock
                                                                                     (7,663 )                        --  
   Payments for dividends
                                                                                  -------------------- ------- --------------------                      -------------------- -------------- --------------------
                                                                                    (36,451 )                                (7,635 )
      Net cash used in financing activities
                                                                                  -------------------- ------- --------------------                      -------------------- -------------- --------------------
Net increase (decrease) in cash and cash equivalents                                  5,317              (15,332 )
Cash and cash equivalents--beginning of period                           78,925               83,281  
                                                                                  -------------------- ------- --------------------                      -------------------- -------------- --------------------
Cash and cash equivalents--end of period                                                 $  84,242                        $         67,949  
                                                                                  ==================== ======= ====================                      ==================== ============== ====================
                                                                                                 
Non-cash investing and financing activities:                                                                        
                                                                                                     $     567                        $            146  
  Transfers between inventory and property and equipment
                                                                                                                                                              A10 NETWORKS, INC.
                                                                                                                                         RECONCILIATION OF GAAP GROSS PROFIT TO NON-GAAP GROSS PROFIT
                                                                                                                                                 (unaudited, in thousands, except percentages)
                                                                                                                                                    
                                                                                     Three Months Ended June 30,                                                                                                           Six Months Ended June 30,
                                                    ----------------------------------------------------------------------------------------------------------------------------                            ----------------------------------------------------------------------------------------------------------------------------
                                                           2022                                                     2021                                                     2022                                                     2021
                                                    ------------------------------------------------------                        --------------------------------------------------                        ------------------------------------------------------                        --------------------------------------------------
GAAP gross profit                                                      $         54,488                        $     45,538                        $        104,321                        $     87,882  
GAAP gross margin                                               80.2 %                              77.0 %                                  79.9 %                              77.1 %
Non-GAAP adjustments:                                                                                                        
                                                                 331              303                  759              944  
   Stock-based compensation and related payroll tax
                                                      --              252       --              525  
   Global distribution center transition expense
                                                    -------------------- -------------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------                      -------------------- ---------- --------------------
Non-GAAP gross profit                                                  $         54,819                        $     46,093                        $        105,080                        $     89,351  
                                                    ==================== ============== ====================                      ==================== ========== ====================                      ==================== ============== ====================                      ==================== ========== ====================
                                                                                                                                                              A10 NETWORKS, INC.
                                                                                                                                                RECONCILIATION OF GAAP TOTAL OPERATING EXPENSES
                                                                                                                                                     TO NON-GAAP TOTAL OPERATING EXPENSES
                                                                                                                                                           (unaudited, in thousands)
                                                                                                                                                    
                                                                                     Three Months Ended June 30,                                                                                                           Six Months Ended June 30,
                                                    ----------------------------------------------------------------------------------------------------------------------------                            ----------------------------------------------------------------------------------------------------------------------------
                                                           2022                                                     2021                                                     2022                                                     2021
                                                    ------------------------------------------------------                        --------------------------------------------------                        ------------------------------------------------------                        --------------------------------------------------
GAAP total operating expenses                                          $         41,345                        $     38,322                        $         83,176                        $     76,642  
                                                                                                          
Non-GAAP adjustments:                                                                                                        
                                                              (2,613 )                            (2,309 )                                (5,866 )                            (6,288 )
   Stock-based compensation and related payroll tax
                                                      --             (252 )                        --             (505 )
   Amortization expense related to acquisition
                                                      --             (784 )                        --           (2,422 )
   Global distribution center transition expense
                                                    -------------------- -------------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------                      -------------------- ---------- --------------------
                                                                                                                                                              A10 NETWORKS, INC.
                                                                                                                                                 RECONCILIATION OF GAAP INCOME FROM OPERATIONS
                                                                                                                                                         TO NON-GAAP OPERATING INCOME
                                                                                                                                                 (unaudited, in thousands, except percentages)
                                                                                                                                                    
                                                                                     Three Months Ended June 30,                                                                                                           Six Months Ended June 30,
                                                    ----------------------------------------------------------------------------------------------------------------------------                            ----------------------------------------------------------------------------------------------------------------------------
                                                           2022                                                     2021                                                     2022                                                     2021
                                                    ------------------------------------------------------                        --------------------------------------------------                        ------------------------------------------------------                        --------------------------------------------------
GAAP income from operations                                            $         13,143                        $      7,216                        $         21,145                        $     11,240  
GAAP operating margin                                           19.3 %                              12.2 %                                  16.2 %                               9.9 %
Non-GAAP adjustments:                                                                                                        
                                                               2,944            2,612                6,625            7,232  
   Stock-based compensation and related payroll tax
                                                      --              252       --              505  
   Amortization expense related to acquisition
                                                      --            1,036       --            2,947  
   Global distribution center transition expense
                                                    -------------------- -------------- --------------------                      -------------------- ---------- --------------------                      -------------------- -------------- --------------------                      -------------------- ---------- --------------------
Non-GAAP operating income                                              $         16,087                        $     11,116                        $         27,770                        $     21,924  
                                                    ==================== ============== ====================                      ==================== ========== ====================                      ==================== ============== ====================                      ==================== ========== ====================
                                                                                                                               A10 NETWORKS, INC.
                                                                                                                      RECONCILIATION OF GAAP NET INCOME TO
                                                                                                                      EBITDA AND ADJUSTED EBITDA (NON-GAAP)
                                                                                                                            (unaudited, in thousands)
                                                                                                                                   
                                                                                 Three Months Ended June 30,                                                                       Six Months Ended June 30,
                                                             ---------------------------------------------------------------------------------------------------                           --------------------------------------------------------------------------------
                                                                    2022                                        2021                              2022                              2021
                                                             ------------------------------------------------------                        -------------------------                       ----------------------------------                       --------------------------
GAAP net income                                                                 $         10,416                        $ 6,616                      $         16,765                      $  9,273
                                                                         (485 )                          112                 28      1,295
   Exclude: Interest and other (income) expense, net
                                                                        1,868       2,340              3,712      4,753
   Exclude: Depreciation and amortization expense
                                                                        3,212         488              4,352        672
   Exclude: Provision for income taxes
                                                             -------------------- -------------- --------------------                      -------------------- -----                      -------------------- --------------                      -------------------- ------
EBITDA                                                                 15,011       9,556             24,857     15,993
                                                                        2,944       2,612              6,625      7,232
   Exclude: Stock-based compensation and related payroll tax
                                                               --       1,036     --      2,947
   Exclude: Global distribution center transition expense
                                                             -------------------- -------------- --------------------                      -------------------- -----                      -------------------- --------------                      -------------------- ------

View source version on businesswire.com: https://www.businesswire.com/news/home/20220802006014/en/

SOURCE: A10 Networks, Inc.

Investor Contact: 
Rob Fink / Tom Baumann
FNK IR
646.809.4048 / 646.349.6641
aten@fnkir.com

Brian Becker
Chief Financial Officer
investors@a10networks.com

Source: A10 Networks, Inc.
comtex tracking

COMTEX_411443073/1006/2022-08-02T16:06:01

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.