A10 Networks, Inc. · NYSE:ATEN
A10 Networks — Q2 2024 Earnings Presentation
13 slides from A10 Networks's earnings presentation, Jul 30, 2024
Slide 1: Q2 2024 Financial Results & Commentary
Q2 2024 Financial Results & Commentary July 30, 2024
Slide 2: Cautionary Statements & Disclosures
Cautionary Statements & Disclosures This presentation and the accompanying oral presentation contain “forward-looking” statements that are based on our management’s beliefs and assumptions, including statements regarding our future financial performance, strategy, demand, positioning, capital alloca
Slide 3: Agenda
Agenda ▪ Q2 2024 Overview ▪ Q2 Financial Performance ▪ FY 2024 Outlook
Slide 4: Q2'24: Enterprise Improvement; Profitability In-Line
Q2’24: Enterprise Improvement; Profitability In-Line Revenue Overview • Q2 revenue decreased 8.7% year-over-year • Enterprise: up 25% • Service Provider: down 25% Consistent Profitability • Non-GAAP gross margins of 80.9% • GAAP EPS of $0.13 compared to $0.15 in Q2’23 • Non-GAAP EPS of $0.18 compare
Slide 5: Quarterly Revenue & Adjusted EBITDA
Quarterly Revenue & Adjusted EBITDA Revenue, $ Millions Revenue, $ Millions $70.4 $65.8 $65.8 $57.8 $60.7 $60.1 $60.1 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'23 Q2'24 Adjusted EBITDA, $ Millions Adjusted EBITDA, $ Millions $23.9 $17.4 $17.4 $15.5 $14.4 $15.5 $13.9 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q2'23 Q2'24
Slide 6: Quarterly Revenue by Customer Vertical
Quarterly Revenue by Customer Vertical Q2’24 $60.1 million 32.6% 41.6% 38.0% 44.5% 50.3% 67.4% 62.0% 58.4% 55.5% 44% 49.7% 56% Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Enterprise Service Provider
Slide 7: Quarterly Revenue by Geography
Quarterly Revenue by Geography $ Millions 11% 11% Q2’24 19% 16% 14% 19% 16% 14% 17% $60.1 million 21% 32% 33% 26% 28% 34% 33% 32% 27% 41% 37% 17% 51% 32% 53% 57% 53% 56% 57% 50% 52% 51% 45% 45% Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Americas APJ EMEA
Slide 8: Consistent Value Creation
Consistent Value Creation Revenue Business Capital Growth Model Allocation
Slide 9: Appendix
Appendix 9 ©2023 A10 Networks, Inc. All rights reserved.
Slide 10: Financial Performance Trends
Financial Performance Trends $ Millions (except EPS) Q1’21 Q2’21 Q3’21 Q4’21 FY 2021 Q1’22 Q2’22 Q3’22 Q4’22 FY 2022 Q1’23 Q2’23 Q3’23 Q4’23 FY 2023 Q1’24 Q2’24 Revenue $54.8 $59.2 $65.4 $70.7 $250.0 $62.7 $68.0 $72.1 $77.6 $280.3 $57.7 $65.8 $57.8 $70.4 $251.7 $60.7 $60.1 Non-GAAP Gross 78.9% 77.9%
Slide 11: GAAP to Non-GAAP – Gross Margin and EPS
GAAP to Non-GAAP – Gross Margin and EPS Numbers may not sum due to rounding. EPS data is presented on a basic and diluted basis. Please refer to the supplemental financials posted the “Investor Relations” section of the A10 Networks website at investors.a10networks.com.
Slide 12: GAAP to Non-GAAP – Operating Income
GAAP to Non-GAAP – Operating Income Q3’23 Numbers may not sum due to rounding. Please refer to the supplemental financials posted the “Investor Relations” section of the A10 Networks website at investors.a10networks.com.
Slide 13: GAAP to Non-GAAP – Adjusted EBITDA
GAAP to Non-GAAP – Adjusted EBITDA Numbers may not sum due to rounding. Please refer to the supplemental financials posted the “Investor Relations” section of the A10 Networks website at investors.a10networks.com.