10-Q Filing

A10 NETWORKS, INC. CIK: 1580808 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001580808-23-000092`
Period End Date	20230331
Filing Date	20230504
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	aten-20230331_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 36 Cash Flow Statement 54 Stockholders Equity 19 Comprehensive Income 8

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$78.00K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$32.00K	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Common Stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$68.52M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$67.97M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	87.12M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	87.58M	shares	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$83.02M	USD	Point-in-time
Marketable securities	`MarketableSecuritiesCurrent`	$76.02M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	74.20M	shares	Point-in-time
Accounts receivable, net of allowances of $78 and $32, respectively	`AccountsReceivableNetCurrent`	$67.01M	USD	Point-in-time
Accounts receivable, net of allowances of $78 and $32, respectively	`AccountsReceivableNetCurrent`	$72.93M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	73.74M	shares	Point-in-time
Inventory	`InventoryNet`	$20.39M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	13.38M	shares	Point-in-time
Inventory	`InventoryNet`	$19.69M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	13.38M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.05M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$13.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$244.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$256.99M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$22.30M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$19.74M	USD	Point-in-time
Goodwill	`Goodwill`	$1.31M	USD	Point-in-time
Goodwill	`Goodwill`	$1.31M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$62.12M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$63.18M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$27.88M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$26.56M	USD	Point-in-time
Total assets	`Assets`	$357.29M	USD	Point-in-time
Total assets	`Assets`	$369.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$6.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.91M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$21.41M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$37.18M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$74.34M	USD	Point-in-time
Deferred revenue	`ContractWithCustomerLiabilityCurrent`	$75.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$118.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$103.05M	USD	Point-in-time
Deferred revenue, non-current	`ContractWithCustomerLiabilityNoncurrent`	$52.77M	USD	Point-in-time
Deferred revenue, non-current	`ContractWithCustomerLiabilityNoncurrent`	$52.65M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$15.97M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$17.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$188.09M	USD	Point-in-time
Total liabilities	`Liabilities`	$171.78M	USD	Point-in-time
Commitments and contingencies (Note 2 and Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 2 and Note 5)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.00001 par value: 500,000 shares authorized; 87,581 and 87,123 shares issued and 74,197 and 73,738 shares outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Common stock, $0.00001 par value: 500,000 shares authorized; 87,581 and 87,123 shares issued and 74,197 and 73,738 shares outstanding, respectively	`CommonStockValue`	$1.00K	USD	Point-in-time
Treasury stock, at cost: 13,384 and 13,384 shares, respectively	`TreasuryStockCommonValue`	$134.93M	USD	Point-in-time
Treasury stock, at cost: 13,384 and 13,384 shares, respectively	`TreasuryStockCommonValue`	$134.93M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$471.34M	USD	Point-in-time
Additional paid-in-capital	`AdditionalPaidInCapital`	$466.93M	USD	Point-in-time
Dividends paid	`CumulativeDividends`	$19.80M	USD	Point-in-time
Dividends paid	`CumulativeDividends`	$24.25M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-726.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-163.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-130.45M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-126.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.98M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$185.50M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$181.01M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$208.89M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$369.11M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$357.29M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$57.69M	USD	1 Quarter
Total revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$62.67M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$10.22M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$12.84M	USD	1 Quarter
Gross profit	`GrossProfit`	$47.48M	USD	1 Quarter
Gross profit	`GrossProfit`	$49.83M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$22.33M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$22.78M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$11.66M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$12.89M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.16M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$7.31M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$41.83M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$41.31M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$6.17M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$8.00M	USD	1 Quarter
Other income (expense), net	`InterestIncomeExpenseNet`	$973.00K	USD	1 Quarter
Other income (expense), net	`InterestIncomeExpenseNet`	$119.00K	USD	1 Quarter
Other Nonoperating Income (Expense)	`OtherNonoperatingIncomeExpense`	$-632.00K	USD	1 Quarter
Other Nonoperating Income (Expense)	`OtherNonoperatingIncomeExpense`	$-2.22M	USD	1 Quarter
Non-operating income (expense), net	`NonoperatingIncomeExpense`	$-513.00K	USD	1 Quarter
Non-operating income (expense), net	`NonoperatingIncomeExpense`	$-1.25M	USD	1 Quarter
Income (Loss) Attributable to Parent, before Tax	`IncomeLossAttributableToParent`	$4.92M	USD	1 Quarter
Income (Loss) Attributable to Parent, before Tax	`IncomeLossAttributableToParent`	$7.49M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$1.14M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$964.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.96M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.05	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.08	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.05	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.08	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	74.00M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	76.80M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	79.28M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	75.54M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$2.11M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$1.84M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.74M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.45M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-287.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$169.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.54M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-5.69M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.43M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$1.52M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.52M	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$1.57M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-676.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.86M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-6.29M	USD	1 Quarter
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities`	$-17.00M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$1.51M	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInContractWithCustomerLiability`	$-280.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-846.00K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.91M	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	1 Quarter
Proceeds from sales of marketable securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$4.55M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$29.26M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$17.17M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$13.63M	USD	1 Quarter
Purchases of marketable securities	`PaymentsToAcquireMarketableSecurities`	$21.22M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.67M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.14M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.37M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$4.95M	USD	1 Quarter
Proceeds from issuance of common stock under employee equity incentive plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$473.00K	USD	1 Quarter
Proceeds from issuance of common stock under employee equity incentive plans	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$165.00K	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$28.32M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Payments for dividends	`PaymentsOfDividends`	$3.87M	USD	1 Quarter
Payments for dividends	`PaymentsOfDividends`	$4.45M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-32.03M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.97M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$548.00K	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-11.17M	USD	1 Quarter
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.92M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$67.97M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$67.76M	USD	Point-in-time
Cash and cash equivalentsbeginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.52M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$78.92M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$67.97M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$67.76M	USD	Point-in-time
Cash and cash equivalentsend of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$68.52M	USD	Point-in-time
Transfers between inventory and property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$196.00K	USD	1 Quarter
Transfers between inventory and property and equipment	`PropertyPlantAndEquipmentTransfersAndChanges`	$824.00K	USD	1 Quarter
Purchases of property and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$1.00K	USD	1 Quarter
Purchases of property and equipment included in accounts payable	`CapitalExpendituresIncurredButNotYetPaid`	$142.00K	USD	1 Quarter

Stockholders Equity 19 line items

Line Item	Tag	Value	Unit	Period
Beginning balance	`StockholdersEquity`	$185.98M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$185.50M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$181.01M	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$208.89M	USD	Point-in-time
Common stock issued under employee equity incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Common stock issued under employee equity incentive plans	`StockIssuedDuringPeriodValueShareBasedCompensation`	-	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-776.00K	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$527.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.96M	USD	1 Quarter
Unrealized gain on cash flow hedge	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$36.00K	USD	1 Quarter
Unrealized gain on cash flow hedge	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Ending balance	`StockholdersEquity`	$185.98M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$185.50M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$181.01M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$208.89M	USD	Point-in-time
Stock Repurchased During Period, Value	`StockRepurchasedDuringPeriodValue`	$28.32M	USD	1 Quarter
Stock Repurchased During Period, Value	`StockRepurchasedDuringPeriodValue`	-	USD	1 Quarter
Treasury Stock, Shares, Acquired	`TreasuryStockSharesAcquired`	2.10M	shares	1 Quarter

Comprehensive Income 8 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$6.35M	USD	1 Quarter
Net income	`NetIncomeLoss`	$3.96M	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$-776.00K	USD	1 Quarter
Unrealized gain (loss) on marketable securities	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$527.00K	USD	1 Quarter
Unrealized gain on cash flow hedge	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$36.00K	USD	1 Quarter
Unrealized gain on cash flow hedge	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	-	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$4.52M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$5.57M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.