A10 Networks posts Q1 revenue of $50.3 million

A10 Networks reported Q1 2019 revenue of $50.3 million, compared with $49.2 million in first quarter 2018. GAAP gross margin was 75.6 percent and GAAP operating margin was (21.8) percent. There was a GAAP net loss of $12.3 million, or $0.16 per basic and diluted share. Non-GAAP net loss amounted to $7.2 million, or $0.09 per diluted share.

“During the quarter, we continued to make progress on our priorities for 2019, which include driving growth and innovation in security, 5G and multi-cloud. Security product revenue grew 22 percent year-over-year to 34 percent of product revenue and we secured another 5G design win with a top mobile provider in Korea and forged ahead in our efforts to drive further product innovation that supports the commercial roll-out of 5G networks,” said Lee Chen, president and chief executive officer of A10 Networks. “We have a strong product portfolio, our win rate remains high and our team is energized by our opportunities in the market.”