In the second quarter, A10 exceeded revenue projections of $44-47 million, hitting $47.5 million — up 5 percent from $45.1 million from the same time last year, and 8 percent from 2015’s first quarter. A10 noted that one major customer contributed to 14 percent of the company’s total second quarter. Though the customer wasn’t named, analysts speculated on a call with investors that the firm was CGN.
A10 also closed out the quarter with a backlog of $5 million, more than double its 2014 average. Non-GAAP net loss for A10’s second quarter was $5.3 million or $0.09 per share, the same as 2014’s second quarter.
CEO Lee Chen pointed out the company had added 200 new customers and said the Affinity channel program is on track for release by the end of 2015.
The quarterly earnings come on the heels of the recent announcement that KDDI Corporation chose A10’s vThunder ADC as its selected application delivery controller (ADC) for its corporate cloud infrastructure. Guidance for 2015’s third quarter earnings are between $48 and $52 million.
Following the earnings announcement, trading for A10 rose 3.82 percent to $5.43.