A10 Networks reported Q2 revenue of $65.8 million, up 14.1% sequentially from Q1 and in-line with expectations. Non-GAAP net income was $14.5 million, or $0.19 per diluted share (non-GAAP EPS), compared with non-GAAP net income of $13.4 million, or $0.17 per diluted share in the second quarter of 2022.
The second quarter results demonstrated sequential improvements consistent with our expectations and our continued focus on our business model,” said Dhrupad Trivedi, President and Chief Executive Officer of A10 Networks. “Spending from large enterprises and tier-one service providers in North America remains volatile, but we are seeing encouraging signs, particularly for security solutions, that support our confidence for continuing improvements in the second half of the year.”
“A10 remains solidly profitable, with earnings per share exceeding last year’s levels even on slightly lower revenue, demonstrating our systemic profitability and the focus on our business model,” continued Trivedi. “For the first six months of 2023, our Adjusted EBITDA margin increased by 248 basis points to a record 26.6%, compared to 24.1% last year. We continue to balance profitability and growth as we navigate headwinds.”
