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A10 Networks cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$30.7M in Q3 2026 · $73.5M over twelve months

Operating cash flow$34.0M
Capital spending−$3.3M
Free cash flow+$30.7M
Cash / net income2.0×
Cash conversion cycle125 days

Analysis

In Q3 2026, A10 Networks generated $34.0M of operating cash flow and spent $3.3M on capital projects, leaving free cash flow of $30.7M. That is $12.6M more than in Q3 2025 ($18.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $88.0M; the largest uses were buybacks ($34.8M), acquisitions ($34.1M), dividends ($17.3M); besides operations, cash came from shares issued ($3.4M); the cash balance fell by $10.8M.

Operating cash flow was $34.0M against net income of $17.2M — 2.0× profit, cash ran ahead of reported earnings. The largest differences: receivables +$20.2M, payables −$8.3M, stock-based pay +$5.8M.

Its cash conversion cycle was 125 days (receivables 62 + inventory 161 − payables 98).

Free cash flow

A10 Networks: free cash flow by quarterA10 Networks: free cash flow by quarter$23.3MQ4 2024$12.7MQ1 2025$17.9MQ2 2025$18.1MQ3 2025$16.0MQ4 2025−$689KQ1 2026$27.5MQ2 2026$30.7MQ3 2026
Operating cash flow less capital spending.
A10 Networks: operating cash flow against capital spendingA10 Networks: operating cash flow against capital spendingOperating cash flowCapital spending$25.7M$2.4MQ4 2024$17.2M$4.5MQ1 2025$22.2M$4.2MQ2 2025$22.8M$4.7MQ3 2025$22.7M$6.7MQ4 2025$2.2M$2.9MQ1 2026$29.1M$1.6MQ2 2026$34.0M$3.3MQ3 2026
Latest (Q3 2026): Operating cash flow $34.0M, Capital spending $3.3M.

Capital allocation, year by year

A10 Networks: where the cash came from (up) and went (down), by fiscal yearA10 Networks: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $50.1MFY2021: Shares issued $5.8MFY2021: Capital spending −$5.2MFY2021: Buybacks −$18.3MFY2021: Dividends −$3.9M$55.9MFY2021FY2022: Operating cash flow $66.1MFY2022: Shares issued $7.0MFY2022: Capital spending −$10.8MFY2022: Buybacks −$79.3MFY2022: Dividends −$15.9M$73.1MFY2022FY2023: Operating cash flow $44.5MFY2023: Shares issued $4.9MFY2023: Capital spending −$10.9MFY2023: Buybacks −$16.0MFY2023: Dividends −$17.8M$49.5MFY2023FY2024: Operating cash flow $90.5MFY2024: Shares issued $3.6MFY2024: Capital spending −$12.3MFY2024: Buybacks −$30.1MFY2024: Dividends −$17.8M$94.1MFY2024FY2025: Operating cash flow $84.9MFY2025: Net borrowing $218MFY2025: Shares issued $3.4MFY2025: Capital spending −$20.1MFY2025: Acquisitions −$19.1MFY2025: Buybacks −$68.9MFY2025: Dividends −$17.4M$306MFY2025
Over these 5 years operating cash flow totalled $336M; the largest uses were buybacks ($213M) and dividends ($72.8M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$360M
Debt$220M
Net cash$140M
Due within a year$220M

A10 Networks funds itself: free cash flow was $73.5M over the last twelve months, and $360M of cash and investments stands against $220M of debt ($220M due within a year, 1.6× covered by cash).

Where the cash came from and went

A10 Networks: sources (+) and uses (−) of cash, Q3 2026A10 Networks: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$34.0MBuybacks−$23.0MCash drawn (+) / kept (−)−$21.1MOther investing$17.2MDividends−$4.4MCapital spending−$3.3MAcquisitions$601K
A10 Networks: sources (+) and uses (−) of cash, TTM to Q3 2026A10 Networks: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$88.0MBuybacks−$34.8MAcquisitions−$34.1MDividends−$17.3MCapital spending−$14.5MCash drawn (+) / kept (−)$10.8MShares issued$3.4MOther investing−$1.5M

From profit to cash

A10 Networks: net income to operating cash flow, Q3 2026A10 Networks: net income to operating cash flow, Q3 2026Net income$17.2MDepreciation & amortization$4.8MStock-based pay$5.8MOther non-cash$724KReceivables$20.2MInventory−$4.7MPayables−$8.3MAccrued liabilities−$3.2MDeferred revenue$2.2MPrepaid and other assets−$661KOperating cash flow$34.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20266216198125
Q2 202680141107114
Q1 20267911376115
Q4 20257110062109
Q3 20257012157135
Q2 20257712645158
Q1 20259714268172
Q4 20248814062166

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$34.0M−$3.3M$601K−$23.0M−$4.4M——−$21.1M$30.7M
Q2 2026$29.1M−$1.6M−$34.7M−$2.4M−$4.3M——$3.2M$27.5M
Q1 2026$2.2M−$2.9M—−$2.5M−$4.3M——$13.2M−$689K
Q4 2025$22.7M−$6.7M—−$6.9M−$4.3M—$1.7M$15.4M$16.0M
Q3 2025$22.8M−$4.7M—−$11.0M−$4.3M——$166M$18.1M
Q2 2025$22.2M−$4.2M—−$3.9M−$4.3M—$1.7M−$9.1M$17.9M
Q1 2025$17.2M−$4.5M−$19.1M−$47.0M−$4.4M$225M—−$149M$12.7M
Q4 2024$25.7M−$2.4M—−$5.8M−$4.4M—$1.7M−$17.1M$23.3M

A10 Networks: income statement and cash flow

A10 Networks, Q3 2026: revenue $91.5M (+23% year over year), operating margin 20.0%. The chart follows the revenue to costs, profit and cash.

A10 Networks: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.