A10 Networks, Inc. · NYSE:ATEN
A10 Networks — Q4 2022 Earnings Presentation
15 slides from A10 Networks's earnings presentation, Feb 7, 2023
Slide 1: Q4 2022 Financial Results & Commentary
Q4 2022 Financial Results & Commentary February 7, 2023
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, routes to market, technical differe
Slide 3: Agenda
Agenda ▪ Q4 Overview ▪ Q4 Financial Performance ▪ FY 2023 Outlook
Slide 4: Q4'22: Record Revenue and Non-GAAP Profitability
Q4’22: Record Revenue and Non-GAAP Profitability Growth Highlights • Q4 revenue grew 9.9% year-over-year; Full-Year revenue grew 12.1% • Geographic performance reflects broad-based demand Consistent Profitability • Adjusted EBITDA was a record $22.3 million, or 28.7% of revenue • Record Non-GAAP EPS
Slide 5: Quarterly Revenue & Non-GAAP Operating Income
Quarterly Revenue & Non-GAAP Operating Income Revenue, $ Millions Revenue, $ Millions $77.6 $77.6 $70.7 $72.1 $68.0 $70.7 $62.7 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q4'21 Q4'22 Non-GAAP Operating Income, $ Millions Non-GAAP Operating Income, $ Millions $19.8 $19.5 $19.8 $17.6 $16.1 $17.6 $11.7 Q4'21 Q1'22
Slide 6: Quarterly Non-GAAP EPS
Quarterly Non-GAAP EPS Non-GAAP EPS, $ $0.24 $0.20 $0.20 $0.17 $0.17 $0.13 $0.13 $0.12 Q1 Q2 Q3 Q4 2021 2022 See Appendix for reconciliation to most comparable GAAP financial measures.
Slide 7: Full-Year Revenue & Non-GAAP Operating Income
Full-Year Revenue & Non-GAAP Operating Income Revenue, $ Millions $280.3 $250.0 $232.2 $225.5 $212.6 2018 2019 2020 2021 2022 Non-GAAP Operating Income, $ Millions $67.0 $54.0 $35.3 $0.9 $2.6 2018 2019 2020 2021 2022 Operating Income is a Non-GAAP Financial Measure. See Appendix for reconciliation t
Slide 8: Quarterly Revenue by Customer Vertical
Quarterly Revenue by Customer Vertical Q4’22 $77.6 million 35.3% 35.0% 34.9% 30.8% 36.7% 37.6% 69.2% 64.7% 63.3% 65.0% 65.1% 62.4% 30.8% 69.2% Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Enterprise Service Provider
Slide 9: Quarterly Revenue by Geography
Quarterly Revenue by Geography $ Millions 11% Q4’22 14% 14% 12% 14% 16% 17% 17% 19% 16% $77.6 million 32% 39% 28% 34% 33% 43% 36% 34% 35% 14% 47% 33% 53% 53% 57% 53% 48% 49% 49% 48% 50% 39% 43% Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Americas APJ EMEA
Slide 10: Consistent Value Creation
Consistent Value Creation Revenue Business Capital Growth Model Allocation
Slide 11: Appendix
Appendix 11 ©2022.A10 Networks, Inc. All rights reserved.
Slide 12: Financial Performance Trends
Financial Performance Trends $ Millions (except EPS) FY FY FY FY Q1'19 Q2'19 Q3’19 Q4'19 Q1’20 Q2’20 Q3’20 Q4’20 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 Q3’22 Q4’22 2019 2020 2021 2022 $212.6 Revenue $50.3 $49.2 $52.8 $60.3 $53.8 $52.5 $56.6 $62.7 $225.5 $54.8 $59.2 $65.4 $70.7 $250.0 $62.7 $68.0 $72.1
Slide 13: 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 14: GAAP to Non-GAAP – Operating Income
GAAP to Non-GAAP – Operating Income 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 15: 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.