EXHIBIT 99.1
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A10 Networks Reports Financial Results for the Third Quarter of 2026

Broad-Based Demand Drives 23% Revenue Growth and Record Quarterly Results

SAN JOSE, Calif., November 5, 2026 -- A10 Networks, Inc. (NYSE: ATEN), a leading provider of secure application services and solutions, today announced financial results for its third quarter ended September 30, 2026.  

Third Quarter 2026 Financial Summary

•Quarterly revenue of $91.5 million, a 22.6% year-over-year increase. Revenue for the first nine months of 2026 was $246.7 million compared to $210.2 million for the first nine months of 2025, an increase of approximately 17.4%.

•GAAP gross profit of $72.1 million and non-GAAP gross profit of $73.3 million. GAAP gross margin was 78.7% and non-GAAP gross margin was 80.0%.

•GAAP income from operations of $18.3 million, and Non-GAAP income from operations of $25.5 million.

•GAAP net income of $17.2 million, or $0.23 per diluted share, non-GAAP net income of $23.6 million, or $0.31 per diluted share.

•Non-GAAP Adjusted EBITDA of $29.5 million, or 32.2% of revenue.

•The Company returned $27.4 million to investors, having repurchased 879 thousand shares during the quarter at an average price of $26.18 per share for a total of $23.0 million and having paid $4.4 million in cash dividends in the quarter.

•The Board of Directors approved the quarterly cash dividend of $0.06 per share, payable December 1, 2026 to stockholders of record at the close of business on November 16, 2026.

•As of September 30, 2026, A10 had $360.4 million in cash, cash equivalents, and marketable securities.


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

“Third quarter revenue increased 22.6% year-over-year to record quarterly levels, supported by broad-based customer demand, with our business model enabling record non-GAAP operating and net income levels,” said Dhrupad Trivedi, President and Chief Executive Officer of A10 Networks. “Rising network traffic volumes, expanding AI deployments and increasingly complex security requirements are driving demand for A10’s networking and security solutions. Revenue from customers other than our largest customer grew double digits year over year in the quarter, underscoring the breadth of our momentum. Non-GAAP EPS grew faster than revenue, and our combined revenue growth and adjusted EBITDA margin exceeded the rule of 40.”

“Our priority remains supporting our customers, particularly as they deploy AI, while capturing growing demand and protecting the long-term earnings power of the business,”Trivedi continued. “As the industry navigates supply challenges, we are focused on translating revenue growth into higher gross profit dollars, operating leverage and EPS growth. Our progress, expanding global opportunity and continued execution give us confidence in setting long-term targets of $500 million in annual revenue through organic growth and $2.00 in annual non-GAAP EPS for fiscal year 2029. This target incorporates the accounting impact of our warrant agreement with our largest customer and implies a 14% compound annual revenue growth rate.”

2026 Outlook

Based on year-to-date performance, demand visibility and the current supply environment, management is updating its full-year 2026 outlook to the following:

•Full-year revenue growth of approximately 16%, compared to prior guidance of 12-14% full-year growth.

•Non-GAAP Adjusted EBITDA margin in excess of 30%.

•Non-GAAP diluted EPS of between $1.08 - $1.10, representing growth of 20-22% over 2025 and exceeding the revenue growth rate, compared to prior guidance of 14-16% EPS growth.



Conference Call

Management will host a call at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) today, Thursday, November 5, 2026, to discuss these results.

Interested parties may access the conference call by dialing (888) 506-0062 (toll-free) or (973) 528-0011 (international) and referencing access code: 810983.

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 one year. A telephonic replay of the conference call will be available until November 19, 2026 and may be accessed by dialing (877) 481-4010 (toll-free) or (919) 882-2331 (international) and entering the passcode: 54623.

Forward-Looking Statements

This press release contains “forward-looking statements,” including statements regarding dividends and capital return, demand and market trends, strategy and competitive positioning, our commercial partnerships and agreements, financial performance and profitability, supply chain management, 2026 financial guidance and our long-term financial targets. 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 any unforeseen need for capital which may require us to divert funds we may have otherwise used for the dividend program or stock repurchase program, which may in turn negatively impact our ability to administer the quarterly dividends or the repurchase of our common stock; a significant decline in global macroeconomic or political conditions that have an adverse impact on our business and financial results; an expansion of adversarial global trade dynamics or other changes to international trade regulations; 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 rates 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 February 25, 2026. 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), we refer to certain non-GAAP financial measures, including non-GAAP net income, non-GAAP net income per basic and diluted share (or non-GAAP EPS), non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP operating income and operating margin, EBITDA, Adjusted EBITDA and Adjusted EBITDA margin. 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 by excluding certain items that, while they may recur, can vary significantly in amount and timing or are not directly indicative of ongoing operational trends, and are used by the company’s management to evaluate operating performance, prepare budgets and forecasts, and assess performance relative to peer companies.

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) acquisition-related expense, (iii) amortization of acquired intangible assets, (iv) amortization of debt


issuance costs, (v) certain legal expense, (vi) tax planning expense and (vii) income tax effect of non-GAAP items (i) to (vi) listed above. 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) amortization of acquired intangible assets. We define non-GAAP gross margin as our non-GAAP gross profit divided by our GAAP revenue. We define non-GAAP operating expense as our GAAP operating expense excluding (i) stock-based compensation and related payroll tax, (ii) acquisition-related expense, (iii) amortization of acquired intangible assets, (iv) certain legal expense and (v) tax planning expense. We define non-GAAP operating income as our GAAP income from operations excluding (i) stock-based compensation and related payroll tax, (ii) acquisition-related expense, (iii) amortization of acquired intangible assets, (iv) certain legal expense and (v) tax planning expense. We define non-GAAP operating margin as our non-GAAP operating income divided by our GAAP revenue. We define Adjusted EBITDA as our GAAP net income excluding (i) interest and other income, net, (ii) depreciation and amortization expense, (iii) provision for income taxes, (iv) stock-based compensation and related payroll tax, (v) acquisition-related expense, (vi) certain legal expense and (vii) tax planning expense. We define Adjusted EBITDA margin as our Adjusted EBITDA divided by our GAAP revenue. We define EBITDA as our GAAP net income excluding (i) interest and other income, net, (ii) depreciation and amortization expense and (iii) provision for income taxes.

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) delivers secure application and network solutions designed to protect, optimize, and scale business-critical systems across on-premises, hybrid cloud, and edge environments. Our portfolio is designed to enable large enterprises, service providers, and cloud platforms worldwide to achieve performance, reliability, and protection against cyber threats, while preparing their networks for the demands of AI and next-generation applications. Founded in 2004 and headquartered in San Jose, California, A10 Networks serves over 7,000 global customers. For more information, visit A10networks.com and follow us at 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.

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


David Schroeder
VP, Corporate Development
investors@a10networks.com

Source: A10 Networks, Inc.


A10 NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in thousands, except per share amounts, on a GAAP Basis)

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Net revenue:
Products$58,496 $43,109 $151,506 $118,261 
Services33,049 31,573 95,176 91,941 
Total net revenue91,545 74,682 246,682 210,202 
Cost of net revenue:
Products13,315 8,101 32,324 23,561 
Services6,176 6,729 19,199 19,383 
Total cost of net revenue19,491 14,830 51,523 42,944 
Gross profit72,054 59,852 195,159 167,258 
Operating expenses:
Sales and marketing22,017 21,531 63,936 62,040 
Research and development21,573 18,377 61,744 50,533 
General and administrative10,169 6,950 29,161 22,602 
Total operating expenses53,759 46,858 154,841 135,175 
Income from operations18,295 12,994 40,318 32,083 
Non-operating income (expense):
Interest income3,289 3,386 9,992 8,170 
Interest and other income (expense), net(1,842)(2,387)(6,421)(3,853)
Total non-operating income, net1,447 999 3,571 4,317 
Income before income taxes19,742 13,993 43,889 36,400 
Provision for income taxes2,582 1,802 5,815 4,128 
Net income $17,160 $12,191 $38,074 $32,272 
Net income per share:
Basic$0.24 $0.17 $0.53 $0.45 
Diluted$0.23 $0.17 $0.51 $0.44 
Weighted-average shares used in computing net income per share:
Basic72,412 71,891 72,083 72,478 
Diluted75,702 73,046 74,953 73,805 


A10 NETWORKS, INC.
RECONCILIATION OF GAAP NET INCOME TO NON-GAAP NET INCOME
(unaudited, in thousands, except per share amounts)

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
GAAP net income$17,160 $12,191 $38,074 $32,272 
Non-GAAP items:
Stock-based compensation and related payroll tax6,162 4,961 20,504 15,839 
Acquisition-related expense173 465 1,519 1,383 
Amortization of acquired intangible assets820 380 1,652 963 
Amortization of debt issuance costs366 — 1,096 — 
Certain legal expense— 22 807 1,269 
Tax planning expense— — — 150 
Income tax-effect of non-GAAP items(1,118)(1,318)(3,612)(4,687)
Total non-GAAP items6,403 4,510 21,966 14,917 
Non-GAAP net income$23,563 $16,701 $60,040 $47,189 
GAAP net income per share:
Basic$0.24 $0.17 $0.53 $0.45 
Diluted$0.23 $0.17 $0.51 $0.44 
Non-GAAP items:
Stock-based compensation and related payroll tax0.08 0.07 0.27 0.21 
Acquisition-related expense— 0.01 0.02 0.02 
Amortization of acquired intangible assets0.01 0.01 0.02 0.01 
Amortization of debt issuance costs— — 0.02 — 
Certain legal expense— — 0.01 0.02 
Tax planning expense— — — — 
Income tax-effect of non-GAAP items(0.01)(0.02)(0.05)(0.06)
Total non-GAAP items0.08 0.06 0.29 0.20 
Non-GAAP net income per share:
Basic$0.33 $0.23 $0.83 $0.65 
Diluted$0.31 $0.23 $0.80 $0.64 
Weighted average shares used in computing net income per share:
Basic72,412 71,891 72,083 72,478 
Diluted75,702 73,046 74,953 73,805 


Net income and earnings per share excluding adjustments are non-GAAP financial measures presented as supplemental financial measures to enable a user of the financial information to understand the impact of these adjustments on reported results and to facilitate comparison of operating results across reporting periods. These financial measures should not be considered an alternative to net income, operating income, cash flows provided by operating activities, or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Our adjusted net income and earnings per share may not be comparable to similarly titled measures of another company because companies may not all calculate adjusted net income and earnings per share in the same manner.



A10 NETWORKS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in thousands, except par value, on a GAAP Basis)

As of September 30, 2026As of December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents$75,795 $71,139 
Marketable securities284,570 306,714 
Accounts receivable, net of allowances of $102 and $66, respectively52,067 62,069 
Inventory36,434 18,032 
Prepaid expenses and other current assets29,826 18,000 
Total current assets478,692 475,954 
Property and equipment, net49,307 50,221 
Goodwill 47,302 15,134 
Intangible assets, net13,406 6,259 
Deferred tax assets, net58,504 62,109 
Other non-current assets15,678 20,136 
Total assets$662,889 $629,813 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable$16,359 $11,694 
Accrued and other liabilities33,335 41,132 
Deferred revenue, current88,797 80,824 
Total current liabilities138,491 133,650 
Deferred revenue, non-current68,221 61,982 
Long-term debt, net219,884 218,787 
Other non-current liabilities3,471 3,848 
Total liabilities430,067 418,267 
Stockholders' equity:
Common stock, $0.00001 par value: 500,000 shares authorized; 93,609 and 91,996 shares issued and 72,008 and 71,498 shares outstanding, respectively1 1 
Treasury stock, at cost: 21,601 and 20,498 shares, respectively(277,809)(249,912)
Additional paid-in-capital557,647 531,790 
Dividends paid(85,770)(72,785)
Accumulated other comprehensive income (expense)(1,114)659 
Retained earnings39,867 1,793 
Total stockholders' equity232,822 211,546 
Total liabilities and stockholders' equity$662,889 $629,813 
 
 



A10 NETWORKS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in thousands, on a GAAP Basis)
  
Nine Months Ended September 30,
20262025
Cash flows from operating activities:
Net income$38,074 $32,272 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization13,258 10,876 
Stock-based compensation19,570 15,206 
Other non-cash items2,832 2,251 
Changes in operating assets and liabilities:
Accounts receivable10,025 14,803 
Inventory(18,443)2,728 
Prepaid expenses and other assets(6,758)(6,912)
Accounts payable3,951 (2,100)
Accrued and other liabilities(11,232)351 
Deferred revenue14,036 (7,288)
Net cash provided by operating activities65,313 62,187 
Cash flows from investing activities:
Proceeds from sales and maturities of marketable securities169,336 96,426 
Purchases of marketable securities(148,931)(278,920)
Acquisition of businesses, net of cash acquired(34,080)(19,100)
Capital expenditures(7,815)(13,464)
Net cash used in investing activities(21,490)(215,058)
Cash flows from financing activities:
Proceeds from issuance of common stock under employee equity incentive plans1,714 1,710 
Proceeds from the issuance of convertible notes— 225,000 
Payment of debt issuance costs— (7,330)
Repurchase of common stock(27,897)(62,008)
Payments for dividends(12,984)(13,075)
Net cash provided by (used in) financing activities(39,167)144,297 
Net increase (decrease) in cash and cash equivalents4,656 (8,574)
Cash and cash equivalents—beginning of period71,139 95,129 
Cash and cash equivalents—end of period$75,795 $86,555 
Non-cash investing and financing activities:
Transfers between inventory and property and equipment$41 $314 
Capital expenditures included in accounts payable$342 $229 
Common stock consideration for acquisition$5,035 $— 
Supplemental cash flow disclosure:
Cash paid for income taxes, net$7,485 $3,694 
Cash paid for interest on debt$6,188 $— 



A10 NETWORKS, INC.
RECONCILIATION OF GAAP GROSS PROFIT TO NON-GAAP GROSS PROFIT
(unaudited, in thousands, except percentages)

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
GAAP gross profit$72,054 $59,852 $195,159 $167,258 
GAAP gross margin78.7 %80.1 %79.1 %79.6 %
Non-GAAP adjustments:
Stock-based compensation and related payroll tax580 136 1,601 1,284 
Amortization of acquired intangible assets636 281 1,257 712 
Non-GAAP gross profit$73,270 $60,269 $198,017 $169,254 
Non-GAAP gross margin80.0 %80.7 %80.3 %80.5 %



A10 NETWORKS, INC.
RECONCILIATION OF GAAP TOTAL OPERATING EXPENSES
TO NON-GAAP TOTAL OPERATING EXPENSES
(unaudited, in thousands)
 
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
GAAP total operating expenses$53,759 $46,858 $154,841 $135,175 
Non-GAAP adjustments:
Stock-based compensation and related payroll tax(5,582)(4,825)(18,903)(14,555)
Acquisition-related expense(173)(101)(1,519)(655)
Amortization of acquired intangible assets(184)(99)(395)(251)
Certain legal expense— (22)(807)(1,269)
Tax planning expense— — — (150)
Non-GAAP total operating expenses$47,820 $41,811 $133,217 $118,295 
 



A10 NETWORKS, INC.
RECONCILIATION OF GAAP INCOME FROM OPERATIONS
TO NON-GAAP OPERATING INCOME
(unaudited, in thousands, except percentages)

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
GAAP income from operations$18,295 $12,994 $40,318 $32,083 
GAAP operating margin20.0 %17.4 %16.3 %15.3 %
Non-GAAP adjustments:
Stock-based compensation and related payroll tax6,162 4,961 20,504 15,839 
Acquisition-related expense173 101 1,519 655 
Amortization of acquired intangible assets820 380 1,652 963 
Certain legal expense— 22 807 1,269 
Tax planning expense— — — 150 
Non-GAAP operating income$25,450 $18,458 $64,800 $50,959 
Non-GAAP operating margin27.8 %24.7 %26.3 %24.2 %


A10 NETWORKS, INC.
RECONCILIATION OF GAAP NET INCOME TO
EBITDA AND ADJUSTED EBITDA (NON-GAAP)
(unaudited, in thousands, except percentages)

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
GAAP net income$17,160 $12,191 $38,074 $32,272 
GAAP net income margin18.7 %16.3 %15.4 %15.4 %
Exclude: Interest and other income, net(1,447)(999)(3,571)(4,317)
Exclude: Depreciation and amortization4,840 3,799 13,258 11,079 
Exclude: Provision for income taxes2,582 1,802 5,815 4,128 
EBITDA23,135 16,793 53,576 43,162 
Exclude: Stock-based compensation and related payroll tax6,162 4,961 20,504 15,839 
Exclude: Acquisition-related expense173 101 1,519 655 
Exclude: Certain legal expense— 22 807 1,269 
Exclude: Tax planning expense— — — 150 
Adjusted EBITDA$29,470 $21,877 $76,406 $61,075 
Adjusted EBITDA margin32.2 %29.3 %31.0 %29.1 %