• A10 Networks has reported fourth-quarter 2025 revenue of US$80.36 million and net income of US$9.87 million, with full-year revenue reaching US$290.56 million alongside confirmed 2026 guidance for double‑digit revenue and earnings growth and an approved quarterly dividend of US$0.06 per share.
• Beyond the headline numbers, management is tying its higher 2026 outlook and upcoming Investor Day to growing demand for AI-driven networking and security solutions, signaling how it intends to position the business across legacy and next-generation infrastructure.
• Against this backdrop, we will examine how the stronger 2026 guidance, especially for earnings growth, shapes A10 Networks’ investment narrative.

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What Is A10 Networks' Investment Narrative?

To own A10 Networks, you have to believe in its role as a picks‑and‑shovels provider to AI and security‑heavy networks, while accepting that growth is not breakneck and profitability has some volatility. The latest quarter underlines that trade‑off: record full‑year revenue but softer net income and margins, alongside a richer 2026 outlook for double‑digit revenue and faster EPS growth. Management’s message, reinforced by the upcoming Investor Day, puts AI‑driven networking and security at the center of the next leg of the story, which could refresh near‑term catalysts around new customer wins and clearer long‑term targets. At the same time, a premium earnings multiple, recent share price strength and falling profit margins keep execution risk front and center, even as the company continues its steady US$0.06 dividend.

However, one risk in particular could matter more than the upbeat 2026 guidance suggests. A10 Networks' shares have been on the rise but are still potentially undervalued by 17%. Find out what it's worth.

Exploring Other Perspectives

Three Simply Wall St Community fair values cluster tightly between US$23.00 and about US$23.65, hinting at limited mispricing while opinions differ on what the richer 2026 earnings guidance really means for A10’s already full valuation and margin risk.

Explore 3 other fair value estimates on A10 Networks - why the stock might be worth just $23.00!

Build Your Own A10 Networks Narrative

Disagree with this assessment? Create your own narrative in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your A10 Networks research is our analysis highlighting 2 key rewards that could impact your investment decision.
• Our free A10 Networks research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate A10 Networks' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.