A10 Networks, Inc. reported a total revenue of $261.7 million for the fiscal year ended December 31, 2024, reflecting a 4% increase from $251.7 million in 2023. The company's net income rose to $50.1 million, a 25.4% increase compared to $40.0 million in the previous year. The growth in revenue was primarily driven by a 10.2% increase in services revenue, which reached $121.9 million, while product revenue slightly decreased by 0.9% to $139.8 million. The gross margin for the year was 80.4%, down from 80.9% in 2023, attributed to rising personnel-related support costs.
In terms of strategic developments, A10 Networks expanded its cybersecurity portfolio by acquiring the assets and key personnel of ThreatX Protect in February 2025, enhancing its offerings in web application and API protection. The company continues to focus on product development, particularly in cybersecurity and artificial intelligence technologies, to address evolving market demands. A10 Networks also reported a significant increase in its customer base, with purchases from its ten largest end-customers accounting for 38% of total revenue, up from 33% in 2023.
Operationally, A10 Networks has seen a geographic expansion, with the Asia-Pacific region (APJ) contributing $87.2 million, a 12% increase from the previous year. The Americas region generated $134.4 million, a modest increase of 1%, while the Europe, Middle East, and Africa (EMEA) region saw a slight decline to $40.2 million. The company’s employee headcount stood at 481 as of December 31, 2024, with a focus on enhancing its sales and marketing capabilities to support growth.
Looking ahead, A10 Networks anticipates continued growth in demand for its products and services, particularly in the cybersecurity sector. The company plans to invest in expanding its sales and marketing efforts and enhancing its product offerings to meet customer needs. However, it acknowledges potential challenges, including market competition and the need to adapt to changing customer preferences regarding deployment and payment models. The company remains committed to maintaining profitability while pursuing long-term growth strategies.
About A10 Networks, Inc.
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