A10 Networks reported Q1 revenue of $53.8 million, up 22 percent year-over-year. There was a GAAP net loss for the first quarter 2016 of $9.5 million, or $0.15 per share, compared with a net loss of $13.7 million, or $0.22 per share, in the first quarter of 2015.
“The first quarter was a strong start to the year as we continued to build on our solid momentum,” said Lee Chen, president and chief executive officer of A10 Networks. “Our high-end security product portfolio and cloud-based solutions continue to gain traction with customers and partners and this is contributing to our success in growing the business. Additionally, with our continued topline growth and disciplined approach to managing costs, we improved our bottom line by 55% year-over-year and generated strong cash flow from operations. We are pleased with our execution and strong first quarter results and are encouraged by our progress as we enter the second quarter.”
Some highlights:
- Record enterprise revenue of $32.2 million, increased 29 percent year-over-year
- Strong product revenue of $36.4 million, up 19 percent year-over-year
- Record total deferred revenue of $74.8 million, increased 25% year-over-year
- Cash and marketable securities increased to $107.5 million, up from $85.6 million at March 31, 2015
