A10 Networks (ATEN) Q3 2025 Earnings
Reported Nov 4, 2025 at 4:12 PM ET · SEC Source
Q3 25 EPS
$0.23
BEAT +8.24%
Est. $0.21
Q3 25 Revenue
$74.7M
BEAT +5.63%
Est. $70.7M
vs S&P Since Q3 25
+108.0%
BEATING MARKET
ATEN +118.9% vs S&P +10.9%
Market Reaction
Did ATEN Beat Earnings? Q3 2025 Results
A10 Networks posted a confident third quarter of fiscal 2025, beating Wall Street expectations on both the top and bottom lines as surging demand for AI infrastructure and cybersecurity solutions lifted revenue 11.9% year-over-year to $74.68 million,… Read more A10 Networks posted a confident third quarter of fiscal 2025, beating Wall Street expectations on both the top and bottom lines as surging demand for AI infrastructure and cybersecurity solutions lifted revenue 11.9% year-over-year to $74.68 million, ahead of the $70.70 million consensus. Non-GAAP earnings per share came in at $0.23, topping the $0.21 analyst estimate by 8.24%, with the outperformance driven largely by a sharp acceleration in service provider revenue, which climbed to $47.80 million from $36.70 million a year ago as customers scaled AI-driven network deployments. Non-GAAP operating margin expanded to 24.7% from 22.6%, underscoring the operating leverage embedded in the model. The company returned $15.30 million to shareholders through buybacks and dividends while building a war chest of $370.90 million in cash and marketable securities, bolstered by a $225.00 million convertible note issuance earlier this year. Management pointed to an expanding enterprise pipeline and security-led revenue exceeding the company's 65% long-term target as evidence that A10's positioning within AI infrastructure and cybersecurity trends remains on track heading into the next quarter.
Key Takeaways
- • AI infrastructure buildouts serving as key catalysts for revenue growth
- • Security-led revenue exceeding 65% long-term target
- • Service provider segment revenue growth from $36.7M to $47.8M year-over-year
- • Non-GAAP operating margin expansion to 24.7% from 22.6%
- • Strong product revenue growth of 17% year-over-year
ATEN YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
ATEN Revenue by Segment
With YoY comparisons, source: SEC Filings
ATEN Revenue by Geography
With YoY comparisons, source: SEC Filings
“The scale and sophistication of cyber threats continue to accelerate, prompting global carriers, enterprises, and government agencies to make security and performance integral to their infrastructure roadmaps. This dynamic is gaining urgency as AI-driven workloads scale in both utilization and deployment footprints. A10 is well-aligned with this trend, and our offerings are seen as increasingly relevant to address these concerns. We are well-aligned with our customers near-term roadmaps, and long-term financial objectives tied to AI infrastructure and cybersecurity.”
— Dhrupad Trivedi, Q3 2025 Earnings Press Release
ATEN Earnings Trends
ATEN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ATEN EPS Trend
Earnings per share: estimate vs actual
ATEN Revenue Trend
Quarterly revenue: estimate vs actual
ATEN Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.23 | $0.24 | +4.21% | $75.0M | +3.29% |
| Q4 25 BEAT FY | $0.24 | $0.26 | +9.38% | $80.4M | +2.91% |
| FY Full Year | — | $0.90 | — | $290.6M | — |
| Q3 25 BEAT | $0.21 | $0.23 | +8.24% | $74.7M | +5.63% |
| Q2 25 BEAT | $0.20 | $0.21 | +5.21% | $69.4M | +4.79% |