A10 Networks
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A10 Networks (ATEN) investor relations material

A10 Networks Investor Day 2026 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Investor Day 2026 summary19 Feb, 2026

Strategic evolution and market positioning

  • Transitioned from hardware-centric to a unified technology platform supporting on-prem, cloud, and hybrid environments, with a focus on low latency, reliability, and embedded security.

  • Embedded security and performance in the data path, supporting AI-driven workloads and expanding into AI prompt routing, predictive analytics, and inference security.

  • Positioned to benefit from secular trends like sovereign AI, regulatory-driven infrastructure, and global AI build-outs, with a customer base exceeding 7,000 organizations.

  • Maintains relevance by enabling seamless migration, protecting infrastructure investments, and supporting both legacy and next-gen architectures.

  • Differentiation built on deep domain expertise, unified architecture, and proven performance at scale.

Financial performance and guidance

  • Achieved $290.6 million in revenue for FY2025, with 11% revenue growth and 29.6% Adjusted EBITDA margin, surpassing Rule of Forty targets.

  • Expanded Adjusted EBITDA margins from mid-single digits in 2019 to nearly 30% in 2025, driven by operating leverage and disciplined cost management.

  • Portfolio mix shifted to over 70% next-gen networking and security, with these segments expected to grow 16%-18% and 14%-16% respectively.

  • Security-led revenue now represents over 65% of total revenue, supporting stable growth and strong free cash flow.

  • Financial outlook targets 10%-12% revenue growth and 28%-30%+ Adjusted EBITDA margins for 2026-2028, with non-GAAP EPS growth exceeding revenue growth.

Capital allocation and growth strategy

  • Capital allocation prioritizes organic growth in innovation and go-to-market, followed by shareholder returns and disciplined M&A aligned with strategic direction.

  • Maintains a strong balance sheet with $378 million in cash and marketable securities, enabling flexibility for investment and capital returns.

  • Share repurchases and dividends have increased over time without compromising investment in high-growth areas.

  • Growth assumptions are not dependent on service provider recovery; AI infrastructure and security demand are primary drivers.

  • Deal size expansion is expected through share-of-wallet growth with existing customers as AI solutions are adopted.

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Q1 202630 Apr, 2026
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Frequently asked questions

A10 Networks Inc provides networking and cybersecurity solutions designed to enhance the performance and security of applications across on-premises, cloud, and edge environments. Its product portfolio includes application delivery controllers, DDoS protection, and load balancing technologies. The company serves service providers, enterprises, and government organizations globally. The company is headquartered in San Jose, California, and its shares are listed on the NYSE.

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