A10 Networks completed its previously announced investigation into certain past accounting practices.
In a public statement, A10 Networks said the investigation uncovered errors in its financial statements relating to the recognition of revenue in a limited number of sale transactions between the company and its resellers, but that these errors do not have an impact on the aggregate amount of revenue recognized by the company. The company does, however, expect to shift the timing of recognition of revenue among certain quarterly periods.
In short, A10 said its total revenue was overstated by approximately $1 million for the three months ended September 30, 2016, overstated by approximately $3 million for the year ended December 31, 2016, and understated by approximately $4 million for the three months ended March 31, 2017. The company’s Net Loss was understated by approximately $1 million for the three months ended September 30, 2016, understated by approximately $2 million for the year ended December 31, 2016, and overstated by
More information is posted on the company’s website.
