A10 Networks, Inc. reported a total net revenue of $74.7 million for the third quarter of 2025, marking an increase of 12% from $66.7 million in the same period last year. The company's product revenue rose to $43.1 million, a 17% increase from $36.9 million, while service revenue grew by 6% to $31.6 million. For the nine months ending September 30, 2025, total revenue reached $210.2 million, up from $187.5 million in the prior year, driven by a 23% increase in product revenue and a modest 1% rise in service revenue.
In terms of profitability, A10 Networks reported a net income of $12.2 million for the third quarter, slightly down from $12.6 million a year earlier. The company’s income from operations increased to $13.0 million, up 25% from $10.4 million in the same quarter of 2024. The gross profit margin for the quarter was 80.1%, a slight decrease from 80.5% in the previous year, attributed to rising costs in service revenue. The company’s operating expenses also increased, totaling $46.9 million, reflecting investments in sales, marketing, and research and development.
A significant strategic development for A10 Networks was the acquisition of the ThreatX Protect business in February 2025 for $19.1 million, which is expected to enhance its cybersecurity offerings. The company also issued $225 million in convertible senior notes due in 2030, providing additional capital for growth initiatives. As of September 30, 2025, A10 Networks had cash and cash equivalents of $86.6 million and marketable securities totaling $284.3 million, indicating a strong liquidity position.
Operationally, A10 Networks saw a notable shift in its customer base, with service providers accounting for 64% of total revenue in the third quarter, up from 55% a year prior. The Americas region contributed 65% of total revenue, a significant increase from 51% in the same quarter of 2024. The company reported a total of 71,684 shares outstanding as of September 30, 2025, with a stock repurchase program in place that has seen $62 million spent on share buybacks in the first nine months of the year.
Looking ahead, A10 Networks anticipates continued growth driven by demand for its secure application delivery and cybersecurity solutions. The company plans to invest in innovation and expand its market presence, particularly in North America, while navigating macroeconomic challenges such as tariffs and fluctuating demand patterns. The board has also approved a quarterly cash dividend of $0.06 per share, reflecting confidence in the company’s financial health and commitment to returning value to shareholders.
About A10 Networks, Inc.
A10 Networks, Inc. is a leading provider of security and infrastructure solutions for on-premises, hybrid cloud, and edge-cloud environments. The company focuses on application delivery and network security, offering products like Thunder ADC and A10 Defend. With a growing market opportunity driven by increased cloud adoption and cybersecurity threats, A10 targets enterprises and service providers. Recent innovations include the acquisition of ThreatX Protect, enhancing its cybersecurity portfolio.
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