0001628280-26-071062
SEC filingA10第三季度营收创纪录达$91.5M、同比增22.6%，AI与安全需求驱动，全年指引上调。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $91.5 million | $74.682 million | 22.6% |
| Gross Margin (GAAP) | 78.7% | 80.1% | — |
| Gross Margin (Non-GAAP) | 80.0% | 80.7% | — |
| Operating Income (GAAP) | $18.295 million | $12.994 million | — |
| Operating Income (Non-GAAP) | $25.45 million | $18.458 million | — |
| Net Income (GAAP) | $17.16 million | $12.191 million | — |
| Net Income (Non-GAAP) | $23.563 million | $16.701 million | — |
| Diluted EPS (GAAP) | $0.23 | $0.17 | — |
| Diluted EPS (Non-GAAP) | $0.31 | $0.23 | — |
| Adjusted EBITDA (Non-GAAP) | $29.47 million | $21.877 million | — |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| FY2026 | Revenue Growth | approximately 16% | N/A |
| FY2026 | Non-GAAP Adjusted EBITDA Margin | in excess of 30% | Non-GAAP |
| FY2026 | Non-GAAP Diluted EPS | $1.08 - $1.10 | Non-GAAP |
第三季度营收$91.5 million、同比增22.6%创单季纪录，产品营收$58.496 million（去年同期$43.109 million）为主要增量，服务营收$33.049 million（去年同期$31.573 million）稳步扩张。GAAP毛利率由80.1%降至78.7%、Non-GAAP毛利率由80.7%降至80.0%，与产品收入占比上升及公司提及的supply challenges相关；但Non-GAAP营业利润率升至27.8%（去年24.7%），Adjusted EBITDA margin达32.2%，经营杠杆释放使Non-GAAP EPS $0.31增速快于营收。CEO Dhrupad Trivedi强调除最大客户外客户营收同比双位数增长，营收增速加Adjusted EBITDA利润率超过rule of 40。
全年2026指引上调：营收增速约16%（原12-14%），Non-GAAP摊薄EPS $1.08-$1.10（原14-16%增长），Adjusted EBITDA margin超30%；管理层另设FY2029目标年营收$500 million、年Non-GAAP EPS $2.00，隐含14%复合增速，并称已计入与最大客户warrant协议的会计影响。资本返还方面，本季回购879千股、均价$26.18、合计$23.0 million，另付股息$4.4 million，共返还$27.4 million；董事会批准季度股息$0.06/股，11月16日登记、12月1日支付。期末现金及有价证券$360.4 million，前九个月经营现金流$65.313 million。主要风险包括供应链约束、最大客户集中度及全球宏观与贸易环境。