A10 Networks, Inc. (ATEN) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
APJ	89.7	90.4	96.8
APAC excluding Japan	33.0	28.7
Americas excluding United States	19.3	21.7	15.1
Other	138.4	109.3	113.7
Total revenues [+]	280.3	250.0	225.5	212.6	232.2	235.4	227.3	196.3
Products								134.9
Services								61.4
Revenue growth [+]	12.1%	10.9%	6.1%	-8.4%	-1.4%	3.6%	15.8%	9.3%
APJ	-0.7%	-6.6%
APAC excluding Japan	15.0%
Americas excluding United States	-11.1%	43.9%
APAC	-8.1%	-8.0%
Cost of goods sold [+]	56.8	53.5	50.1	48.9	51.9	53.3	54.4	48.4
Cost of product sales								32.8
Cost of services								15.6
Gross profit	223.5	196.5	175.4	163.7	180.3	182.1	172.9	147.9
Gross margin	79.7%	78.6%	77.8%	77.0%	77.7%	77.4%	76.1%	75.3%
Selling, general and administrative [+]	112.0	109.1	99.6	116.5	142.8	129.5	130.7	131.1
Sales and marketing	88.5	85.7	77.7	92.8	103.2	101.4	104.4	104.5
General and administrative	23.5	23.4	21.9	23.7	39.6	28.1	26.3	26.6
Research and development	58.4	54.1	58.1	61.8	65.2	63.0	60.7	54.8
Other operating expenses							2.1	2.2
Adjusted EBITDA	73.8	56.7	41.3	12.0	-2.8	15.3	4.6	-14.7
Adjusted EBITDA margin	26.3%	22.7%	18.3%	5.6%	-1.2%	6.5%	2.0%	-7.5%
Stock-based compensation	13.3	14.4	12.3	16.5	17.0	17.2	16.9	16.9
EBITDA [+]	60.5	42.3	29.0	-4.5	-19.8	-1.9	-12.3	-31.6
EBITDA growth	42.9%	45.7%	-740.1%	-77.1%	963.9%	-84.9%	-61.1%	56.8%
EBITDA margin	21.6%	16.9%	12.9%	-2.1%	-8.5%	-0.8%	-5.4%	-16.1%
Depreciation	7.4	8.0	9.9	8.6	7.9	7.1	7.6	8.6
EBITA	53.1	34.3	19.1	-13.2	-27.7	-9.0	-19.9	-40.2
EBITA margin	18.9%	13.7%	8.5%	-6.2%	-11.9%	-3.8%	-8.7%	-20.5%
Amortization of intangibles		0.9	1.4	1.4		1.4	0.7	0.1
EBIT [+]	53.1	33.4	17.7	-14.6	-27.7	-10.4	-20.6	-40.3
EBIT growth	59.0%	88.3%	-221.8%	-47.4%	166.9%	-49.6%	-49.0%	33.2%
EBIT margin	18.9%	13.4%	7.9%	-6.8%	-11.9%	-4.4%	-9.0%	-20.5%
Non-recurring items				2.5
Interest income, net [+]	1.3	0.4	1.5	-0.2	-0.1	-0.2	-0.4	-0.5
Interest expense				0.2	0.1	0.2	0.4	0.5
Interest income	1.3	0.4	1.5
Other income (expense), net [+]	-1.7	-2.2	-0.1	0.9	1.3	1.0	-0.6	-0.3
Litigation settlement							2.1	2.2
Pre-tax income	52.7	31.6	19.1	-16.4	-26.5	-9.5	-21.6	-41.2
Income taxes	5.8	-63.2	1.3	1.4	1.1	1.2	0.8	0.7
Tax rate	11.0%		6.9%
Net income	46.9	94.9	17.8	-17.8	-27.6	-10.8	-22.4	-41.9
Net margin	16.7%	37.9%	7.9%	-8.4%	-11.9%	-4.6%	-9.9%	-21.3%

Basic EPS [+]	$0.62	$1.23	$0.23	($0.23)	($0.38)	($0.15)	($0.34)	($0.67)
Growth	-49.6%	437.6%	-197.8%	-38.2%	146.9%	-55.0%	-49.2%	-8.9%
Diluted EPS [+]	$0.60	$1.19	$0.22	($0.23)	($0.38)	($0.15)	($0.34)	($0.67)
Growth	-49.1%	432.5%	-195.1%	-38.2%	146.9%	-55.0%	-49.2%	-8.9%

Dividends per share [+]	$0.21	$0.05
Growth	318.6%

Shares outstanding (basic) [+]	75.5	77.0	77.8	76.1	72.9	70.1	65.7	62.4
Growth	-2.0%	-0.9%	2.2%	4.4%	4.0%	6.6%	5.2%	28.2%
Shares outstanding (diluted) [+]	77.8	80.0	80.0	76.1	72.9	70.1	65.7	62.4
Growth	-2.9%	0.0%	5.2%	4.4%	4.0%	6.6%	5.2%	28.2%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.