Zacks Investment Research·Jun 30, 2026
5 Small and Mid-Cap AI Stocks to Buy That Have Skyrocketed in 1H 2026BAND, AIP, PENG, ATEN and VECO are among small- and mid-cap AI stocks that surged in 1H 2026 with more room to grow in 2H.
A10 Networks, Inc.(ATEN)Earnings, Financials & Key Ratios
ATEN•NYSE
$36.52
64.1× P/E·Price updated Jul 7, 2026
AboutA10 Networks, Inc. provides networking solutions in the Americas, Japan, other Asia Pacific, and EMEA countries. The company offers Thunder Application Delivery Controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and microservices; and Thunder Carrier Grade Networking product, which offers standards-compliant address and protocol translation services for service provider networks. It also provides Thunder Threat Protection System (TPS) for the protection of networks and server resources against massive distributed denial of service attacks; Thunder Secure Sockets Layer (SSL) Insight solution that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses various critical security capabilities in one package by consolidating various security and networking functions in a single appliance. In addition, the company offers intelligent management and automation tools comprising harmony controller that provides intelligent management, automation, and analytics for secure application delivery in multi-cloud environment; and aGalaxy TPS, a multi-device network management solution. A10 Networks, Inc. delivers its solutions on optimized hardware appliances, bare metal software, containerized software, virtual appliances, and cloud-native software. It serves cloud providers; service providers include cloud, telecommunications, and multiple system and cable operators; government organizations; and enterprises in the technology, industrial, retail, financial, gaming, and education industries. The company markets its products through sales organizations, as well as distribution channel partners, including distributors, value added resellers, and system integrators. A10 Networks, Inc. was incorporated in 2004 and is headquartered in San Jose, California.Show more
- Revenue$291M+11.0%
- EBITDA$62M+12.2%
- Net Income$42M-16.0%
- EPS (Diluted)0.57-14.9%
- Gross Margin79.34%-1.3%
- EBITDA Margin21.34%+1.1%
- Operating Margin16.22%-3.4%
- Net Margin14.5%-24.3%
- ROE19.01%-16.7%
ATEN Price & Volume
A10 Networks, Inc. (ATEN) stock price & volume — 10-year historical chart
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Cyclical Revenue Volatility Masks Structural Margin Resilience
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial:Mixed
Cash Flow:Mixed
Primary Risk:Rising leverage and liquidity
Key Thesis Takeaways
- A10 Networks maintains a robust competitive position with gross margins consistently near 79.6%, yet the company faces significant headwinds from a shifting capital structure that has seen debt-to-equity climb to 0.99 as of 2026Q1.
- While the firm continues to prioritize shareholder returns, the decoupling of net income from cash generation—evidenced by a strained 0.19 OCF/NI ratio—suggests that future capital allocation may face sustainability constraints.
- Investors should monitor the company's ability to navigate lumpy infrastructure spending cycles while managing a rapidly depleting liquidity buffer that fell to $57.9M in the most recent quarter.
Verdict Logic
while the company maintains high gross margins of 79.6%, the combination of a 0.19 OCF/NI ratio and a debt-to-equity ratio of 0.99 warrants caution regarding long-term financial flexibility.
ATEN Growth Metrics
A10 Networks, Inc. (ATEN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years3.86%
5 Years5.2%
3 Years1.2%
TTM12.08%
Profit CAGR
10 Years-
5 Years18.79%
3 Years-3.51%
TTM-10.67%
EPS CAGR
10 Years-
5 Years20.97%
3 Years-1.7%
TTM-7.46%
Return on Capital
10 Years2.85%
5 Years15.18%
3 Years13.75%
Last Year11.71%
ATEN Recent Earnings
A10 Networks, Inc. (ATEN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 7/12 qtrs (58%)
Q2 2026Latest
Apr 28, 2026Metric
Actual
Est
EPS
$0.24+9.1%
$0.22
Rev
$75M+3.3%
$73M
Q1 2026
Feb 4, 2026Metric
Actual
Est
EPS
$0.26+9.4%
$0.24
Rev
$80M+2.9%
$78M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.23+9.5%
$0.21
Rev
$75M-5.2%
$79M
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$0.21+5.0%
$0.20
Rev
$69M-2.3%
$71M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 28, 2026 | $0.24vs $0.22+9.1% | $75Mvs $73M+3.3% |
| Q1 2026 | Feb 4, 2026 | $0.26vs $0.24+9.4% | $80Mvs $78M+2.9% |
| Q4 2025 | Nov 4, 2025 | $0.23vs $0.21+9.5% | $75Mvs $79M-5.2% |
| Q3 2025 | Aug 5, 2025 | $0.21vs $0.20+5.0% | $69Mvs $71M-2.3% |
Based on last 12 quarters of dataView full earnings history →
Latest ATEN News
Recent stock market news and headlines for A10 Networks, Inc. (ATEN)
Seeking Alpha·Jun 30, 2026
A10 Networks: Positioned For AI GrowthA10 Networks (ATEN) is rated BUY, driven by strong earnings, AI security expansion, and a compelling valuation discount to peers. ATEN's sticky, mission-critical solutions yield high recurring revenues and significant cross-selling opportunities amid accelerating enterprise AI buildouts. The TrojAI acquisition strategically enhances ATEN's AI security suite, though material revenue contribution is expected in two years.
Peers Comparison
Key metrics vs top competitors for A10 Networks, Inc. (ATEN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $36.52 | $2.62B | 64.07 | 11.03% | 14.5% | 19.01% | 0.65% | |
| $417.11 | $23.57B | 35.35 | 9.66% | 21.96% | 19.88% | — | |
| $42.37 | $3.03B | 32.59 | 4.47% | 11.12% | 5.96% | — | |
| $30.49 | $1.32B | 67.76 | 9.81% | 6.28% | 5.09% | — | |
| $111.79 | $440.61B | 43.84 | 5.3% | 19.69% | 25.14% | — | |
| $166.46 | $209.6B | 60.53 | 28.6% | 38.32% | 30.58% | — |
Compare ATEN vs Peers
A10 Networks, Inc. (ATEN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ATEN SEC Filings & Documents
A10 Networks, Inc. (ATEN) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
6Material company update
Apr 28, 2026·SEC
Material company update
Apr 23, 2026·SEC
Material company update
Feb 4, 2026·SEC
10-K Annual Reports
410-Q Quarterly Reports
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ATEN Frequently Asked Questions
A10 Networks, Inc. (ATEN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is A10 Networks, Inc.'s revenue?
A10 Networks, Inc. (ATEN) reported $299.4M in revenue for fiscal year 2025. This represents a 149% increase from $120.1M in 2012.
How fast is A10 Networks, Inc. growing?
A10 Networks, Inc. (ATEN) grew revenue by 11.0% over the past year. This is steady growth.
Is ATEN profitable?
Yes, A10 Networks, Inc. (ATEN) is profitable, generating $44.6M in net income for fiscal year 2025 (14.5% net margin).
Dividend & Returns
Does ATEN pay dividends?
Yes, A10 Networks, Inc. (ATEN) pays a dividend with a yield of 0.65%. This makes it attractive for income-focused investors.
What is ATEN's return on equity?
A10 Networks, Inc. (ATEN) has a return on equity (ROE) of 19.0%. This is reasonable for most industries.
What is A10 Networks, Inc.'s free cash flow?
A10 Networks, Inc. (ATEN) generated $51.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.