Citing strong sales in North America, A10 Networks reported Q1 2022 revenue of $62.7 million, up 14.3% year-over-year. Non-GAAP net income was $10.0 million, or $0.13 per diluted share, compared with non-GAAP net income of $9.4 million, or $0.12 per diluted share in the first quarter of 2021.
Security-led product revenue grew 20.1% year-over-year.
The Board of Directors declared a quarterly cash dividend of $0.05 per share, payable on June 1st, 2022 to stockholders of record at the close of business on May 16th, 2022.
“Our focus on security-led solutions, improved sales execution in North America, and diversity in terms of customers continues to drive consistent growth above our targets and strong profit margins, moving us closer to our Rule of 40 goal,” said Dhrupad Trivedi, President and Chief Executive Officer of A10 Networks. “Demand for cybersecurity and infrastructure solutions remains a catalyst for our growth despite headwinds in Asia, continued supply chain challenges and typical fluctuations in buying patterns. We continued our share buyback and dividend program in the quarter, while also investing in future growth.”
“We believe we are now well-positioned to achieve the high end of our full year targets around top line growth of 10 – 12% and expanding EBITDA in the range of 26 – 28%,“ continued Trivedi.
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