A10 Networks, Inc. · NYSE:ATEN
A10 Networks — Q3 2025 Earnings Presentation
15 slides from A10 Networks's earnings presentation, Nov 4, 2025
Slide 1: Q3 2025 Financial Results & Commentary
Q3 2025 Financial Results & Commentary November 4, 2025
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 strategy, market, operations, profitability and positioning. Forward-lookin
Slide 3: Agenda
Agenda ▪ Q3 2025 Overview ▪ YTD 2025 Overview ▪ New CFO
Slide 4: Q3'25: Broad-Based Improvements
Q3’25: Broad-Based Improvements Revenue Overview • Q3 Revenue increased 11.9% year-over-year; YTD Revenue up 12.1% • Security-led revenue exceeded 65% long-term target Consistent Profitability • Non-GAAP gross margins of 80.7% in Q3’25 • GAAP EPS of $0.17 • Non-GAAP EPS of $0.23 Key Takeaways • Incr
Slide 5: Quarterly Revenue & Adjusted EBITDA
Quarterly Revenue & Adjusted EBITDA Revenue, $ Millions Revenue, $ Millions $74.2 $74.7 $74.7 $69.4 $66.7 $66.7 $66.1 Q3'24 Q3'25 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Adjusted EBITDA, $ Millions Adjusted EBITDA, $ Millions $27.3 $21.9 $17.8 $21.9 $19.5 $19.7 $17.8 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q3'24 Q3'25
Slide 6: Revenue by Customer Vertical
Revenue by Customer Vertical Enterprise YTD Revenue, $ Millions Revenue, $ Millions $81.8 $79.6 $42.7 $47.8 $36.7 $41.6 $39.0 Q3'24 YTD Q3'25 YTD $31.5 Service Provider $30.0 $27.1 $27.8 $26.9 YTD Revenue, $ Millions $128.4 $107.7 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Service Provider Enterprise Q3'24 YTD Q
Slide 7: Quarterly Revenue by Geography
Quarterly Revenue by Geography $ Millions Q3’25 14% 15% 12% 17% 21% $74.7 million 22% 27% 26% 35% 28% 12% 22% 65% 65% 56% 59% 51% 51% Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Americas APJ EMEA
Slide 8: What We Do
What We Do Hybrid Infrastructure 2 A10 Control: 4 Long term and AI buildout Analytics, Insights and Automation Management Layer that support third party solutions A10 Infrastructure A10 Defend A Unified software 1 A10 Platform 3 Provide a common platform to deliver way to manage best in class techni
Slide 9: Consistent Value Creation
Consistent Value Creation Revenue Business Capital Growth Model Allocation
Slide 10: Appendix
Appendix 10 ©2025 A10 Networks, Inc. All rights reserved.
Slide 11: Financial Performance Trends
Financial Performance Trends $ Millions (except Margins and EPS) FY Q1’22 Q2’22 Q3’22 Q4’22 FY 2022 Q1’23 Q2’23 Q3’23 Q4’23 FY 2023 Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3'25 2024 Revenue $62.7 $68.0 $72.1 $77.6 $280.3 $57.7 $65.8 $57.8 $70.4 $251.7 $60.7 $60.1 $66.7 $74.2 $261.7 $66.1 $69.4 $74.7 No
Slide 12: 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 13: 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 14: 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.
Slide 15: Strong Balance Sheet
Strong Balance Sheet (In $ millions) September 30, December 31, Long-Term Debt 2025 2024 • $225 million Convertible Senior Cash and Cash Equivalents $86.6 $95.1 Notes Marketable Securities $284.3 $100.4 • Issued March 2025 maturing April 2030 • Coupon rate of 2.75% per annum, Total Assets $620.1 $43