A10 Networks AI Stock Analysis
Want to see ATEN full AI Analyst Report?
A10 Networks (ATEN) AI Stock Analysis
A10 Networks
(NYSE:ATEN)
ATEN scores highest on fundamentals and forward outlook: strong cash generation and high margins, plus raised FY2026 guidance and upbeat commentary, support the rating. The score is held back by weak current price/indicator trends (trading below major moving averages with negative MACD) and a relatively expensive P/E with only a modest dividend yield, alongside the increased leverage noted in recent periods.
A10 Networks Key Performance Indicators (KPIs)
Revenue by GeographyBreaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Americas is clearly the engine of recent growth, while APAC and EMEA show either a post‑2021 reporting consolidation (Japan/APAC shifts) or softening demand—consistent with management’s note of APJ/EMEA conservatism. The strong product-led rebound (and an AI infrastructure win) is concentrating revenue and inventory allocation in a few large deals, boosting near‑term upside but increasing customer and supply‑chain risk; sustained outperformance depends on memory/component availability and a recovery in EMEA/APJ demand.
The FlyA10 Networks (ATEN) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $2.09B
- Dividend Yield
- 0.84%
- Average Volume (3M)
- 1.16M
- Price to Earnings (P/E)
- 42.9
- Beta (1Y)
- 0.97
- Revenue Growth
- 14.99%
- EPS Growth
- -4.06%
- Country
- US
- Employees
- 494
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Software - Infrastructure
A10 Networks Business Overview & Revenue Model
Company Description
A10 Networks, Inc. delivers networking solutions across global markets, including North and South America, Japan, the broader Asia Pacific region, and Europe, the Middle East, and Africa (EMEA). The company's product suite features the Thunder Applic...
How the Company Makes Money
A10 Networks generates revenue primarily by selling its application delivery and security products and by attaching ongoing support and software-related entitlements to those deployments. Key revenue streams include: (1) Product revenue from the sale...
A10 Networks Earnings Call Summary
The call was strongly positive: A10 reported record revenue, profitability, gross profit, and free cash flow; cited broad-based demand and market-share gains; and raised its full-year revenue and EPS outlook while establishing ambitious fiscal 2029 targets. The main challenges were industry-wide input cost and delivery issues, potential supply constraints, below-historical service-provider spending in the Americas, and timing-related accounts-receivable benefits.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For fiscal year 2026, A10 expects revenue growth of approximately 16% year over year, compared with its prior outlook of 12% to 14%, roughly 400 to 500 basis points better than its largest competitor and peer group; full year non GAAP adjusted EBITDA margin to exceed 30%; and non GAAP diluted EPS of $1.08 to $1.10, representing year over year growth of 20% to 22%. The company expects full year free cash flow to grow year over year in the range of $74 million to $77 million from approximately $64 million a year ago, continued year over year growth in the fourth quarter across rest of the business, and its segment excluding its largest customer to support double digit growth going forward in the next 4 quarters or 6 quarters. Its longer term target is $500 million in annual revenue through organic growth and $2 in annual non GAAP EPS for fiscal year 29.
A10 Networks Financial Statement Overview
Summary
Overall fundamentals are solid: very strong gross margins (~79–81%) and strong, improving operating/free cash flow (TTM FCF $73.5M; +20.7% growth). Offsetting this, profitability has cooled from 2024 peaks (net margin down to ~14.5–14.7% in 2025–TTM) and the balance sheet is meaningfully more leveraged (debt up sharply to ~ $220M in 2025–TTM), reducing flexibility.
Income Statement
78PositiveBalance Sheet
64PositiveCash Flow
73Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 327.04M | 290.56M | 261.70M | 251.70M | 280.34M | 250.04M |
| Gross Profit | 258.91M | 230.51M | 210.28M | 203.74M | 223.51M | 196.54M |
| EBITDA | 78.67M | 67.28M | 76.78M | 53.14M | 61.76M | 42.70M |
| Net Income | 47.94M | 42.14M | 50.14M | 39.97M | 46.91M | 94.89M |
Balance Sheet | ||||||
| Total Assets | 662.89M | 629.81M | 432.81M | 389.81M | 369.11M | 393.08M |
| Cash, Cash Equivalents and Short-Term Investments | 360.37M | 377.85M | 195.56M | 159.30M | 150.99M | 185.04M |
| Total Debt | 219.88M | 222.63M | 11.94M | 16.82M | 21.64M | 23.30M |
| Total Liabilities | 430.07M | 418.27M | 200.99M | 181.93M | 188.09M | 184.20M |
| Stockholders Equity | 232.82M | 211.55M | 231.83M | 207.88M | 181.01M | 208.89M |
Cash Flow | ||||||
| Free Cash Flow | 73.54M | 64.77M | 78.22M | 33.62M | 55.30M | 44.93M |
| Operating Cash Flow | 88.02M | 84.89M | 90.49M | 44.51M | 66.10M | 50.10M |
| Investing Cash Flow | -50.07M | -243.64M | -48.35M | 13.61M | 11.09M | -38.07M |
| Financing Cash Flow | -48.71M | 134.75M | -44.26M | -28.85M | -88.14M | -16.38M |
A10 Networks Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATEN, the sentiment is Positive. The current price of 28.74 is above the 20-day moving average (MA) of 25.31, above the 50-day MA of 26.07, and above the 200-day MA of 26.77, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 61.63 is Neutral, neither overbought nor oversold. The STOCH value of 97.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ATEN.
A10 Networks Risk Analysis
A10 Networks disclosed 59 risk factors in its most recent earnings report. A10 Networks reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
3 New RisksA10 Networks Peers Comparison
Overall Rating
FFIV76Outperform
RDWR72Outperform
NTCT70Outperform- ATEN67Neutral
NET62Neutral
AKAM57Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| FFIV | 76Outperform | $18.03B | 25.24 | 19.19% | ― | 10.64% | 6.01% |
| RDWR | 72Outperform | $1.35B | 99.14 | 4.26% | ― | 10.88% | -16.23% |
| NTCT | 70Outperform | $2.29B | 18.28 | 7.87% | ― | 2.73% | 44.26% |
| ATEN | 67Neutral | $2.00B | 42.90 | 21.23% | 0.84% | 14.99% | -4.06% |
| NET | 62Neutral | $108.84B | -463.80 | -15.75% | ― | 35.73% | -126.80% |
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| AKAM | 57Neutral | $12.07B | 32.34 | 7.84% | ― | 6.22% | -22.19% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| ATEN | A10 Networks | 28.74 | 11.79 | 69.59% | |
| AKAM | Akamai Technologies | 86.68 | -1.99 | -2.24% | |
| FFIV | F5, Inc. | 320.01 | 81.14 | 33.97% | |
| NTCT | Netscout | 32.72 | 5.72 | 21.19% | |
| RDWR | Radware | 32.37 | 9.56 | 41.91% | |
| NET | Cloudflare Inc | 315.00 | 101.46 | 47.51% |
A10 Networks Corporate Events
A10 Networks Reports Record Third-Quarter Results and Dividend
PositiveOn November 5, 2026, A10 Networks reported third-quarter revenue of $91.5 million, up 22.6% year over year, with record quarterly results supported by broad-based customer demand. GAAP net income was $17.2 million, while non-GAAP net income reached $...
A10 Networks Expands Board, Appoints New Independent Director
PositiveOn September 9, 2026, A10 Networks’ board approved an expansion of its membership from five to six directors and appointed Mary C. Henry to the board, effective October 5, 2026, with her term running until the 2027 Annual Meeting of Stockholders unle...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 06, 2026