A10 Network (ATEN) financial statements
A10 Network reported revenue of $291M in fiscal 2025, up 2.8% a year over 9 years.
Net income was $42M and the operating margin 16.2%, against -9.0% in 2016.
Free cash flow was $65M, and the company returned $17M in dividends and $69M in net buybacks.
The diluted share count rose 12% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from A10 Network's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $227M | $235M | $232M | $213M | $226M | $250M | $280M | $252M | $262M | $291M |
| Cost of revenue | $54M | $53M | $52M | $49M | $50M | $54M | $57M | $48M | $51M | $60M |
| Gross profit | $173M | $182M | $180M | $164M | $175M | $197M | $224M | $204M | $210M | $231M |
| Research and development | $61M | $63M | $65M | $62M | $58M | $54M | $58M | $55M | $58M | $69M |
| Selling, general and admin | $131M | $129M | $143M | $116M | $100M | $109M | $112M | $110M | $109M | $114M |
| Operating income | -$21M | -$10M | -$28M | -$17M | $18M | $33M | $53M | $39M | $44M | $47M |
| Interest expense | $424,000 | $162,000 | $129,000 | $237,000 | $1,000 | $0 | — | — | — | $6M |
| Pre-tax income | -$22M | -$10M | -$27M | -$16M | $19M | $32M | $53M | $44M | $58M | $52M |
| Income tax | $757,000 | $1M | $1M | $1M | $1M | -$63M | $6M | $4M | $8M | $10M |
| Net income | -$22M | -$11M | -$28M | -$18M | $18M | $95M | $47M | $40M | $50M | $42M |
| EPS (diluted) | -$0.34 | -$0.15 | -$0.38 | -$0.23 | $0.22 | $1.19 | $0.60 | $0.53 | $0.67 | $0.57 |
| Diluted shares | 66M | 70M | 73M | 76M | 80M | 80M | 78M | 76M | 75M | 74M |
| Gross margin | 76.1% | 77.4% | 77.7% | 77.0% | 77.8% | 78.6% | 79.7% | 80.9% | 80.4% | 79.3% |
| Operating margin | -9.0% | -4.4% | -11.9% | -8.0% | 7.9% | 13.4% | 18.9% | 15.4% | 16.8% | 16.2% |
| Net margin | -9.9% | -4.6% | -11.9% | -8.4% | 7.9% | 37.9% | 16.7% | 15.9% | 19.2% | 14.5% |
Balance sheet
Fiscal years, from A10 Network's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $114M | $131M | $128M | $130M | $158M | $185M | $151M | $154M | $196M | $378M |
| Receivables | $61M | $48M | $54M | $54M | $51M | $62M | $73M | $74M | $77M | $62M |
| Inventory | $16M | $18M | $18M | $22M | $21M | $22M | $20M | $24M | $22M | $18M |
| Total current assets | $197M | $204M | $215M | $221M | $242M | $284M | $257M | $272M | $307M | $476M |
| Property, plant and equipment | $8M | $10M | $7M | $8M | $8M | $11M | $20M | $30M | $39M | $50M |
| Goodwill | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $15M |
| Total assets | $217M | $225M | $236M | $274M | $291M | $393M | $369M | $390M | $433M | $630M |
| Total current liabilities | $101M | $93M | $97M | $98M | $108M | $116M | $118M | $111M | $124M | $134M |
| Total liabilities | $134M | $126M | $132M | $165M | $175M | $184M | $188M | $182M | $201M | $418M |
| Shareholders' equity | $83M | $98M | $104M | $109M | $116M | $209M | $181M | $208M | $232M | $212M |
| Net debt | -$29M | -$47M | -$41M | -$46M | -$83M | -$79M | -$68M | -$97M | -$95M | -$71M |
Cash flow
Fiscal years, from A10 Network's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $19M | $14M | -$3M | -$426,000 | $55M | $50M | $66M | $45M | $90M | $85M |
| Capital spending | $5M | $6M | $3M | $4M | $4M | $5M | $11M | $11M | $12M | $20M |
| Free cash flow | $14M | $9M | -$5M | -$5M | $52M | $45M | $55M | $34M | $78M | $65M |
| Stock-based compensation | $17M | $17M | $17M | $17M | $12M | $14M | $13M | $14M | $17M | $20M |
| Dividends paid | — | — | — | $0 | $0 | $4M | $16M | $18M | $18M | $17M |
| Share buybacks (net) | -$2M | -$3M | $0 | $0 | -$33M | -$18M | -$79M | -$16M | -$30M | -$69M |
| Net borrowing | — | — | — | — | — | — | — | $0 | $0 | $225M |
| Free cash flow margin | 6.1% | 3.6% | -2.4% | -2.2% | 22.9% | 18.0% | 19.7% | 13.4% | 29.9% | 22.3% |
| Dividends per share | — | — | — | — | — | $0.05 | $0.20 | $0.24 | $0.24 | $0.24 |
Questions
What was A10 Network's revenue in 2025?
$291M in fiscal 2025, from its 10-K filing.
How much free cash flow does A10 Network generate?
$65M in fiscal 2025 (operating cash flow minus capital spending).
From A10 Network's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.