A10 Networks(ATEN)2024-11-07 21:24Financial Performance - Total net revenue for the three months ended September 30, 2024, was 57.775 million in the same period of 2023[14]. - Net income for the three months ended September 30, 2024, was 6.469 million for the same period in 2023, representing a 95.5% increase[14]. - Gross profit for the nine months ended September 30, 2024, was 146.595 million in the same period of 2023, reflecting a growth of 3.2%[14]. - Basic net income per share for the three months ended September 30, 2024, was 0.09 for the same period in 2023, marking an increase of 88.9%[14]. - Total revenue for the three months ended September 30, 2024, was 57.775 million in the same period of 2023[97]. - Total revenue for the nine months ended September 30, 2024, was 181.283 million for the same period in 2023, reflecting a growth of 3.7%[97]. - Net income for the nine months ended September 30, 2024, was 22,053 million for the same period in 2023, representing a 44% increase[23]. Expenses and Costs - Operating expenses for the three months ended September 30, 2024, totaled 44.557 million in the same period of 2023, indicating a decrease of 2.9%[14]. - Total cost of net revenue for the three months ended September 30, 2024, was 11.009 million in the same period of 2023, representing a rise of 18.4%[14]. - Research and development expenses for the three months ended September 30, 2024, were 17,620 million in the same period last year, a decrease of 10.7%[14]. - Stock-based compensation expense for the three months ended September 30, 2024, was 3,966 thousand for the same period in 2023[77]. - Stock-based compensation expense for the nine months ended September 30, 2024, was 11,180 million in 2023, which is a 10% increase[23]. Cash Flow and Equity - Cash provided by operating activities for the nine months ended September 30, 2024, was 41,783 thousand in the same period of 2023[23]. - The company reported a net cash used in financing activities of 19,045 thousand in the same period of 2023, indicating an increase in cash outflow[23]. - Total stockholders' equity increased to 192,938 thousand at June 30, 2023, reflecting a growth of approximately 1.5%[18]. - Total stockholders' equity as of September 30, 2024, was 207,876 million at the end of 2023, reflecting a growth of 4%[21]. - The company’s cash and cash equivalents decreased to 104,152 thousand at the beginning, representing a decrease of approximately 25%[23]. Customer and Market Information - The company serves over 7000 customers globally, including large enterprises, communications, cloud and web service providers, and government organizations[26]. - The company’s customer base spans various industries, including telecommunications, technology, industrial, retail, financial, gaming, education, and government[29]. - As of September 30, 2024, one customer accounted for 41% of total gross accounts receivable, up from 19% as of December 31, 2023[41]. - The Americas region generated 25.8 million in the same period of 2023, a growth of 32.5%[94]. Future Outlook and Plans - The company plans to introduce new products and continue investing in sales, marketing, and research and development[5]. - Future expectations include maintaining profitability while managing growth and potential acquisitions of complementary companies[5]. - The company expects to continue expanding its market presence and enhancing its product offerings to address evolving cybersecurity challenges[26]. Deferred Revenue and Liabilities - Deferred revenue as of September 30, 2024, was 141,334,000 as of December 31, 2023[69]. - Deferred revenue, current, increased to 82.657 million as of December 31, 2023, representing an increase of 8.9%[98]. - Total accrued liabilities increased to 21,388,000 as of December 31, 2023[68]. Marketable Securities and Investments - The company holds marketable securities with a fair value of 62,056,000 as of December 31, 2023[52]. - The total allowance for credit losses increased to 405 thousand as of December 31, 2023, marking a significant increase of 189.9%[62]. - The company recorded foreign exchange related net losses of 300 thousand for the same period in 2023[59].