A10 Networks reported Q3 revenue of $43.4 million, compared with $39.8 million in the third quarter of 2013. GAAP net loss was $12.3 million compared with a net loss of $2.7 million in the third quarter of 2013.
“We are very disappointed with our third quarter financial results and we are committed to improving our execution,” said Lee Chen, president and chief executive officer of A10 Networks. “Third quarter revenue was negatively impacted by lower revenue from North America service provider customers, longer than expected close cycles for deals awarded to A10 and a lengthening sales cycle for some select large enterprise deals. Outside of North America most of our regions delivered revenue consistent with or above our expectations. Beyond revenue, higher inventory reserves and write-offs, currency exchange rates and geographic mix caused our gross margin to be below our historical range. On the positive side, we added a record number of new customers in the quarter, including four new customers for our recently launched Thunder TPS solution.”
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