A10 Networks announced preliminary financial results for the second quarter ended June 30, 2017, saying in now expects total revenue in the second quarter 2017 to be between $52.5 million and $53.5 million, below its prior guidance of $62.0 million to $64.0 million. The company expects to report a GAAP net loss between $0.12 and $0.13 per share. On a non-GAAP basis, the company expects to report a net loss between $0.05 and $0.06 per share, using approximately 69.8 million basic shares, which is below the previous guidance for non-GAAP net income of $0.01 to $0.03 per share, using approximately 76.6 million diluted shares. A preliminary reconciliation between GAAP and non-GAAP information is contained in the financial statements below.
“We are disappointed with our preliminary results. Revenue came in below our guidance as a number of opportunities in our pipeline did not close primarily in North America and to a lesser degree in Japan. Key deals remain in our pipeline and we are diligently working to improve our execution,” said Lee Chen, president and chief executive officer of A10 Networks. “We remain confident that our investments in security and cloud will serve as a strong foundation to penetrate these faster-growing segments of our market.”
