A10 Networks Reports Revenues Leap in Q1
SAN JOSE, Calif. -- A10 Networks, Inc. (NYSE: ATEN), a technology leader in application networking, today announced financial results for its first quarter ended March 31, 2014. Total revenue for the first quarter grew 55 percent year-over-year to a record $45.7 million, compared with $29.6 million in the first quarter of 2013.
“The first quarter was a strong start to the year for A10 Networks, and we are very pleased with our results,” said Lee Chen, president and chief executive officer of A10 Networks. “In our first quarter as a public company, we achieved our third consecutive quarter of record revenue, grew revenue 55 percent year-over-year and added 200 new customers.
“We are disrupting the market with our next-generation application networking platform, ACOS, that delivers superior price performance, reliability and flexibility. Additional key drivers of our success include our software-based platform that we have developed and enhanced over the past eight years, our customer-friendly licensing model and our outstanding customer support. We believe that we are in a very strong position to continue our growth and broaden our position as a market leader in the application networking market,” continued Chen.
A10 Networks first quarter 2014 GAAP net loss was $5.1 million compared with a net loss of $8.5 million in the first quarter of 2013. Non-GAAP net loss for the first quarter of 2014 was $3.3 million, compared with non-GAAP net loss of $4.7 million in the first quarter of 2013. A reconciliation between GAAP and non-GAAP information is contained in the financial statements below.