A10 Networks (ATEN) FY2020 results: revenue $226 million, up 6.1% on the year
A10 Networks, Inc. (ATEN) reported revenue of $226 million for fiscal 2020, the year ended 31 December 2020, up 6.1% on the year before. Net income was $18 million, and diluted earnings per share $0.22. The figures are the company's own, from the 10-K it filed with the SEC on 8 March 2021.
Revenue
$226 million
+6.1% on the year
FY2013FY2020
Operating margin
7.9%
-8.0% a year earlier
FY2013FY2020
Net income
$18 million
FY2013FY2020
Diluted EPS
$0.22
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
226
213
232
+6.1%
Cost of revenue
50.1
48.9
51.9
+2.6%
Gross profit
175
164
180
+7.1%
Gross margin
77.8%
77.0%
77.7%
Research and development
58.1
61.8
65.2
-6.1%
Operating income
17.7
-17.1
-27.7
Operating margin
7.9%
-8.0%
-11.9%
Interest expense
0.0
0.2
0.1
-99.6%
Pre-tax income
19.1
-16.4
-26.5
Income tax
1.3
1.4
1.1
-6.0%
Effective tax rate
6.9%
n/a
n/a
Net income
17.8
-17.8
-27.6
Net margin
7.9%
-8.4%
-11.9%
Diluted EPS
$0.22
-$0.23
-$0.38
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
55.3
-0.4
-2.7
Capital expenditure
3.6
4.3
2.8
-17.9%
Free cash flow
51.7
-4.8
-5.5
Free cash flow margin
22.9%
-2.2%
-2.4%
Cash from investing
5.2
-0.3
-6.9
Cash from financing
-22.9
5.8
3.6
Depreciation and amortisation
11.3
10.0
7.9
+12.7%
Share-based compensation
12.3
16.5
17.0
-25.5%
Buybacks
32.5
0.0
0.0
Dividends paid
0.0
0.0
n/a
Diluted shares, weighted
80m
76m
73m
+5.2%
Shares outstanding at period end
76m
78m
74m
-1.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
116
109
104
+6.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
23.5
28.0
n/a
-16.2%
Other liabilities
151
137
132
+10.3%
Total liabilities and equity
291
274
236
+6.1%
Fixed assets
7.9
7.7
7.3
+3.0%
Goodwill
1.3
1.3
1.3
0.0%
Intangible assets
0.9
2.3
3.7
-62.6%
Investments
74.9
84.2
87.8
-11.1%
Cash and equivalents
83.3
45.7
40.6
+82.1%
Receivables
51.1
53.6
54.0
-4.7%
Inventory
20.7
22.4
17.9
-7.4%
Other assets
50.8
56.9
23.3
-10.7%
Total assets
291
274
236
+6.1%
10-K for the year ended 31 December 2020, filed 8 March 2021: the filing.