A10 Networks (ATEN) 10-Q30 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-36343
Entity Registrant Name	A10 NETWORKS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-1446869
Entity Address, Address Line One	2300 Orchard Parkway
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95131
City Area Code	408
Local Phone Number	325-8668
Title of 12(b) Security	Common Stock, $0.00001 par value
Trading Symbol	ATEN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		73,866,109
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001580808
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 77,457	$ 97,244
Marketable securities	99,682	62,056
Accounts receivable, net of allowances of $676 and $405, respectively	57,395	74,307
Inventory	25,212	23,522
Prepaid expenses and other current assets	15,301	14,695
Total current assets	275,047	271,824
Property and equipment, net	34,012	29,876
Goodwill	1,307	1,307
Deferred tax assets, net	62,327	62,725
Other non-current assets	24,477	24,077
Total assets	397,170	389,809
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	5,642	7,024
Accrued liabilities	27,398	21,388
Deferred revenue	81,993	82,657
Total current liabilities	115,033	111,069
Deferred revenue, non-current	57,963	58,677
Other non-current liabilities	9,817	12,187
Total liabilities	182,813	181,933
Commitments and contingencies (Note 2 and Note 6)
Stockholders' equity:
Common stock, $0.00001 par value: 500,000 shares authorized; 89,580 and 89,003 shares issued and 73,860 and 74,359 shares outstanding, respectively	1	1
Treasury stock, at cost: 15,720 and 14,644 shares, respectively	(165,785)	(150,909)
Additional paid-in-capital	497,520	486,958
Dividends paid	(46,562)	(37,619)
Accumulated other comprehensive income (loss)	465	(71)
Accumulated deficit	(71,282)	(90,484)
Total stockholders' equity	214,357	207,876
Total liabilities and stockholders' equity	$ 397,170	$ 389,809

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 676	$ 405
Common Stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	89,580,000	89,003,000
Common stock, shares outstanding (in shares)	73,860,000	74,359,000
Treasury stock (shares)	15,720,000	14,644,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net revenue:
Total net revenue	$ 60,096	$ 65,817	$ 120,771	$ 123,508
Cost of net revenue:
Total cost of net revenue	12,038	13,463	23,482	23,679
Gross profit	48,058	52,354	97,289	99,829
Operating expenses:
Sales and marketing	19,453	20,868	40,667	43,202
Research and development	14,737	13,965	28,800	25,630
General and administrative	5,952	5,255	12,693	12,564
Total operating expenses	40,142	40,088	82,160	81,396
Income from operations	7,916	12,266	15,129	18,433
Non-operating income, net:
Other income (expense), net	1,761	662	3,442	1,635
Other Nonoperating Income (Expense)	1,306	1,884	3,632	(334)
Non-operating income, net	3,067	2,546	7,074	1,301
Income (Loss) Attributable to Parent, before Tax	10,983	14,812	22,203	19,734
Provision for income taxes	1,507	3,186	3,001	4,150
Net income	$ 9,476	$ 11,626	$ 19,202	$ 15,584
Net income per share:
Basic	$ 0.13	$ 0.16	$ 0.26	$ 0.21
Diluted	$ 0.13	$ 0.15	$ 0.25	$ 0.21
Weighted-average shares used in computing net income per share:
Basic	74,366	74,017	74,401	74,009
Diluted	75,497	75,428	75,432	75,512
Products
Net revenue:
Total net revenue	$ 29,533	$ 39,090	$ 59,602	$ 70,272
Cost of net revenue:
Total cost of net revenue	6,813	9,436	13,612	15,519
Services
Net revenue:
Total net revenue	30,563	26,727	61,169	53,236
Cost of net revenue:
Total cost of net revenue	$ 5,225	$ 4,027	$ 9,870	$ 8,160

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 9,476	$ 11,626	$ 19,202	$ 15,584
Other comprehensive income (loss), net of tax:
Unrealized gain (loss) on marketable securities, net of tax	38	593	(1)	1,121
Unrealized gain on cash flow hedge, net of tax	486	112	537	147
Comprehensive income	$ 10,000	$ 12,331	$ 19,738	$ 16,852

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Dividends Declared	Treasury Stock, Common
Beginning balance at Dec. 31, 2022	$ 181,012	$ 1	$ 466,927	$ (726)	$ (130,454)	$ (19,802)	$ (134,934)
Beginning balance (in shares) at Dec. 31, 2022		73,738
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under employee equity incentive plans (in shares)		781
Common stock issued under employee equity incentive plans	2,559		2,559
Unrealized gain (loss) on marketable securities, net of tax	1,121			1,121
Net income	15,584				15,584
Unrealized gain on cash flow hedge, net of tax	147			147
Ending balance (in shares) at Jun. 30, 2023		74,083
Ending balance at Jun. 30, 2023	192,938	$ 1	477,111	542	(114,870)	(28,682)	$ (141,164)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Common Stock, Cash	8,880					(8,880)
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	7,625		7,625
Stock Repurchased During Period, Value	$ (6,230)
Treasury Stock, Shares, Acquired	(400)						(436)
Beginning balance at Mar. 31, 2023	$ 185,501	$ 1	471,341	(163)	(126,496)	(24,248)	$ (134,934)
Beginning balance (in shares) at Mar. 31, 2023		74,197
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under employee equity incentive plans (in shares)		322
Common stock issued under employee equity incentive plans	2,086		2,086
Unrealized gain (loss) on marketable securities, net of tax	593			593
Net income	11,626				11,626
Unrealized gain on cash flow hedge, net of tax	112			112
Ending balance (in shares) at Jun. 30, 2023		74,083
Ending balance at Jun. 30, 2023	192,938	$ 1	477,111	542	(114,870)	(28,682)	$ (141,164)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Common Stock, Cash	4,434					(4,434)
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	3,684		3,684
Stock Repurchased During Period, Value	(6,230)
Treasury Stock, Shares, Acquired							(436)
Beginning balance at Dec. 31, 2023	207,876	$ 1	486,958	(71)	(90,484)	(37,619)	$ (150,909)
Beginning balance (in shares) at Dec. 31, 2023		74,359
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under employee equity incentive plans (in shares)		555
Common stock issued under employee equity incentive plans	1,854		1,854
Unrealized gain (loss) on marketable securities, net of tax	(1)			(1)
Net income	19,202				19,202
Unrealized gain on cash flow hedge, net of tax	537			537
Ending balance (in shares) at Jun. 30, 2024		73,860
Ending balance at Jun. 30, 2024	214,357	$ 1	497,520	465	(71,282)	(46,562)	$ (165,785)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Common Stock, Cash	8,943					(8,943)
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	8,708		8,708
Stock Repurchased During Period, Value	(14,876)
Treasury Stock, Shares, Acquired							(1,054)
Beginning balance at Mar. 31, 2024	214,309	$ 1	491,164	(59)	(80,758)	(42,091)	$ (153,948)
Beginning balance (in shares) at Mar. 31, 2024		74,434
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under employee equity incentive plans (in shares)		271
Common stock issued under employee equity incentive plans	1,764		1,764
Unrealized gain (loss) on marketable securities, net of tax	38			38
Net income	9,476				9,476
Unrealized gain on cash flow hedge, net of tax	486			486
Ending balance (in shares) at Jun. 30, 2024		73,860
Ending balance at Jun. 30, 2024	214,357	$ 1	497,520	$ 465	$ (71,282)	(46,562)	$ (165,785)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Common Stock, Cash	4,471					$ (4,471)
APIC, Share-based Payment Arrangement, Option, Increase for Cost Recognition	4,592		$ 4,592
Stock Repurchased During Period, Value	$ (11,837)
Treasury Stock, Shares, Acquired	(1,100)						(845)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 19,202	$ 15,584
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,507	4,307
Stock-based compensation	8,105	7,214
Other non-cash items	(403)	(270)
Changes in operating assets and liabilities:
Accounts receivable	16,695	3,698
Inventory	(3,318)	(1,705)
Prepaid expenses and other assets	(541)	3,827
Accounts payable	(2,859)	(1,460)
Accrued liabilities	3,640	(17,094)
Deferred revenue	(1,378)	4,621
Net cash provided by operating activities	44,650	18,722
Cash flows from investing activities:
Proceeds from sales of marketable securities	22,536	42,252
Proceeds from maturities of marketable securities	47,699	44,532
Purchases of marketable securities	(106,293)	(44,680)
Capital expenditures	(6,414)	(5,065)
Net cash provided by (used in) investing activities	(42,472)	37,039
Cash flows from financing activities:
Proceeds from issuance of common stock under employee equity incentive plans	1,854	2,559
Repurchase of common stock	(14,876)	(6,230)
Payments for dividends	(8,943)	(8,880)
Net cash used in financing activities	(21,965)	(12,551)
Net increase (decrease) in cash and cash equivalents	(19,787)	43,210
Cash and cash equivalents—beginning of period	97,244	67,971
Cash and cash equivalents—end of period	77,457	111,181
Non-cash investing and financing activities:
Transfers between inventory and property and equipment	1,628	959
Purchases of property and equipment included in accounts payable	$ 1,477	$ 1,134

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Significant Accounting Policies	Description of Business and Summary of Significant Accounting Policies Description of Business A10 Networks, Inc. (together with our subsidiaries, the “Company”, “we”, “our” or “us”) was incorporated in California in 2004 and reincorporated in Delaware in March 2014. We are headquartered in San Jose, California and have wholly-owned subsidiaries throughout the world including Asia and Europe. We are a leading provider of secure application solutions and services that enable a new generation of intelligently connected companies with the ability to continuously improve cyber protection and digital responsiveness across dynamic Information Technology (“IT”) and network infrastructures. Our product portfolio seeks to address many of the cyber protection challenges and solution requirements. The portfolio consists of six secure application solutions; Thunder Application Delivery Controller (“ADC”), Lightning Application Delivery Controller (“Lightning ADC”), Thunder Carrier Grade Networking (“CGN”), Thunder Threat Protection System (“TPS”), Thunder SSL Insight (“SSLi”) and Thunder Convergent Firewall (“CFW”), and two intelligent management and automation tools; Harmony Controller and aGalaxy TPS. Our solutions are available in a variety of form factors, such as optimized hardware appliances, bare metal software, containerized software, virtual appliances and cloud-native software. Our customers include leading service providers (cloud, telecommunications, multiple system operators, cable), government organizations, and enterprises. We derive revenue from two sources: (i) products revenue, which includes hardware, perpetual software license and subscription offerings, which include term-based license agreements; and (ii) services revenue, which includes post contract support (“PCS”), professional services, training and software-as-a-service offerings. Revenue for term-based license agreements is recognized at a point in time when the Company delivers the software license to the customer and over time once the subscription term has commenced. For our software-as-a-service offerings, our customers do not take possession of the Company’s software but rather we provide access to the service via a hosting arrangement. Revenue in these arrangements is recognized over time as the services are provided. A substantial portion of our revenue is from sales of our products and services through distribution channel partners, such as resellers and distributors. Our customers predominantly purchase PCS services in conjunction with purchases of our products. We recognize services revenue ratably over the term of the PCS contract, which is typically one year, but can be up to seven years. We sell our products globally to service providers and enterprises that depend on data center applications and networks to generate revenue and manage operations efficiently. We report two customer verticals: service providers and enterprises, and we report customer revenues in three broad geographic regions: the Americas, APJ and EMEA regions. The Americas region comprises the United States and other countries in the Americas (excluding the United States). The APJ region comprises Japan and other countries in Asia Pacific. The EMEA region comprises Europe, Middle East and Africa. We believe this geographic revenue view is consistent with how we evaluate our financial performance. Our end-customers operate in a variety of industries, including telecommunications, technology, industrial, retail, financial, gaming, education and government. Since inception, our customer base has grown rapidly. We sell substantially all of our solutions through our high-touch sales organization as well as distribution channel partners, including distributors, value-added resellers and system integrators, and fulfill nearly all orders globally through such partners. We believe this sales approach allows us to obtain the benefits of channel distribution, such as expanding our market coverage, while still maintaining face-to-face relationships with our end-customers. We outsource the manufacturing of our hardware products to original design manufacturers. We perform quality assurance and testing at our San Jose, Taiwan and Japan distribution centers, as well as at our manufacturers’ locations. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include those of A10 Networks, Inc. and its subsidiaries after elimination of all intercompany accounts and transactions. We have prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC” or the “Commission”). As permitted under these rules and regulations, we have condensed or omitted certain financial information and footnote disclosures we normally include in our annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The unaudited condensed consolidated balance sheet as of December 31, 2023 has been derived from our audited financial statements, which are included in our 2023 Annual Report on Form 10-K for the year ended December 31, 2023 on file with the SEC (the “2023 Annual Report”). These financial statements have been prepared on the same basis as our annual financial statements and, in management’s opinion, reflect all adjustments consisting only of normal recurring adjustments that are necessary for a fair presentation of our financial information. Our interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the financial statements and accompanying notes thereto in the 2023 Annual Report. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Those estimates and assumptions affect revenue recognition and deferred revenue, the allowance for credit losses for potential uncollectible amounts, the sales return reserve, the valuation of inventory, the fair value of marketable securities, contingencies and litigation, accrued liabilities, deferred commissions and the determination of fair value of stock-based compensation. These estimates are based on information available as of the date of the condensed consolidated financial statements, therefore, actual results could differ from management’s estimates. Significant Accounting Policies The Company’s significant accounting policies are disclosed in Part II – Item 8, “Financial Statements and Supplementary Data” of the 2023 Annual Report filed with the SEC on February 29, 2024. There have been no material changes to the Company’s significant accounting policies during the three and six months ended June 30, 2024. Concentration of Credit Risk and Significant Customers Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, marketable securities and accounts receivable. Our cash, cash equivalents and marketable securities are held and invested in high-credit quality financial instruments by recognized financial institutions and are subject to minimum credit risk. Our accounts receivable are unsecured and represent amounts due to us based on contractual obligations of our customers. We mitigate credit risk in respect to accounts receivable by performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract. We generally do not require our customers to provide collateral to support accounts receivable. Significant customers, including distribution channel partners and direct customers (end-customers), are those which represent 10% or more of our total revenue for each period presented or our gross accounts receivable balance as of each respective balance sheet date. Revenues from our significant end-customers as a percentage of our total revenue are as follows: Three Months Ended June 30, Six Months Ended June 30, Customers 2024 2023 2024 2023 Customer A 14% 25% 13% 20% As of June 30, 2024, one customer accounted for 43% of our total gross accounts receivable. As of December 31, 2023, one customer accounted for 19% of our total gross accounts receivable. Recent Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We do not expect the adoption of this accounting standard to have an impact on our consolidated financial statements, but will require certain additional disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-09. There have been no other recent accounting pronouncements, changes in accounting pronouncements or recently adopted accounting guidance during the three and six months ended June 30, 2024 that are of significance or potential significance to us.

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company leases various operating spaces in the United States, Asia and Europe under non-cancellable operating lease arrangements that expire on various dates through July 2027. These arrangements require us to pay certain operating expenses, such as taxes, repairs and insurance, and contain renewal and escalation clauses. The table below presents the Company’s right-of-use assets and lease liabilities as of June 30, 2024 (in thousands): As of June 30, 2024 As of December 31, 2023 Operating leases Right-of-use assets: Other non-current assets $ 13,928 $ 16,376 Total right-of-use assets $ 13,928 $ 16,376 Lease liabilities: Accrued liabilities $ 4,874 $ 4,998 Other non-current liabilities 9,445 11,822 Total operating lease liabilities $ 14,319 $ 16,820 The aggregate future lease payments for non-cancelable operating leases as of June 30, 2024 were as follows (in thousands): Remainder of 2024 $ 2,685 2025 4,935 2026 4,893 2027 2,441 Total lease payments 14,954 Less: imputed interest (635) Present value of lease liabilities $ 14,319 The components of lease costs were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease costs $ 1,075 $ 1,094 $ 2,160 $ 2,203 Short-term lease costs 131 123 247 250 Total lease costs $ 1,206 $ 1,217 $ 2,407 $ 2,453 Average lease terms and discount rates for the Company’s operating leases were as follows: Three Months Ended June 30, 2024 2023 Weighted-average remaining term (years) 2.92 3.84 Weighted-average discount rate 3.2% 3.2% Supplemental cash flow information for the Company’s operating leases were as follows (in thousands): Three Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,688 $ 2,661

Marketable Securities and Fair

Marketable Securities and Fair Value Measurements	6 Months Ended
Marketable Securities and Fair Value Measurements	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Marketable Securities and Fair Value Measurements	Marketable Securities and Fair Value Measurements Marketable Securities Marketable securities, classified as available-for-sale, consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate securities $ 38,348 $ 5 $ (26) $ 38,327 $ 15,393 $ 2 $ (2) $ 15,393 U.S. Treasury and agency securities 57,856 42 (47) 57,851 39,963 6 (32) 39,937 Commercial paper — — — — 998 — — 998 Debt securities $ 96,204 $ 47 $ (73) $ 96,178 $ 56,354 $ 8 $ (34) $ 56,328 Publicly held equity securities - Level 1 3,504 5,728 Total marketable securities $ 99,682 $ 62,056 During the three and six months ended June 30, 2024 and 2023, we did not reclassify any amount to earnings from accumulated other comprehensive income (loss) related to unrealized gains or losses. The following table summarizes the cost and estimated fair value of our marketable securities based on stated effective maturities as of June 30, 2024 (excluding publicly held equity securities, in thousands): As of June 30, 2024 Amortized Cost Fair Value Less than 1 year $ 62,997 $ 62,940 Mature in 1 - 3 years 33,207 33,238 Debt securities $ 96,204 $ 96,178 All available-for-sale securities have been classified as current because they are available for use in current operations. Marketable securities in an unrealized loss position as of June 30, 2024 consisted of the following (in thousands): Less Than 12 Months 12 Months or More Total As of June 30, 2024 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate securities $ 26,968 $ (26) $ — $ — $ 26,968 $ (26) U.S. Treasury and agency securities 32,410 (45) 1,898 (2) 34,308 (47) Total $ 59,378 $ (71) $ 1,898 $ (2) $ 61,276 $ (73) Marketable securities in an unrealized loss position as of December 31, 2023 consisted of the following (in thousands): Less Than 12 Months 12 Months or More Total As of December 31, 2023 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate securities $ 9,418 $ (2) $ — $ — $ 9,418 $ (2) U.S. Treasury and agency securities 24,304 (32) — — 24,304 (32) Total $ 33,722 $ (34) $ — $ — $ 33,722 $ (34) Based on evaluation of securities that have been in a continuous loss position, we did not recognize any other-than-temporary impairment charges during the three and six months ended June 30, 2024 and 2023. Fair Value Measurements The following is a summary of our cash, cash equivalents and marketable securities measured at fair value on a recurring basis (in thousands): As of June 30, 2024 As of December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash $ 70,115 $ — $ — $ 70,115 $ 52,451 $ — $ — $ 52,451 Cash equivalents 7,342 — — 7,342 44,793 — — 44,793 Corporate securities — 38,327 — 38,327 — 15,393 — 15,393 U.S. Treasury and agency securities 37,860 19,991 — 57,851 12,701 27,236 — 39,937 Commercial paper — — — — — 998 — 998 $ 115,317 $ 58,318 $ — $ 173,635 $ 109,945 $ 43,627 $ — $ 153,572 Publicly held equity securities - Level 1 3,504 5,728 Total $ 177,139 $ 159,300 There were no transfers between Level 1 and Level 2 fair value measurement categories during the three and six months ended June 30, 2024 and 2023.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Commitments We lease various operating spaces in the United States, Asia and Europe under non-cancelable operating lease arrangements that expire on various dates through July 2027. These arrangements require us to pay certain operating expenses, such as taxes, repairs and insurance, and contain renewal and escalation clauses. We recognize rent expense under these arrangements on a straight-line basis over the term of the lease. See Note 2 – Leases for the Company’s aggregate future lease payments for the Company’s non-cancelable operating leases as of June 30, 2024. Rent expense was $1.2 million for both the three months ended June 30, 2024 and 2023 and was $2.4 million and $2.5 million for the six months ended June 30, 2024 and 2023, respectively Purchase Commitments We have open purchase commitments with third-party contract manufacturers with facilities in Taiwan to supply nearly all of our finished goods inventories, spare parts, and accessories. These purchase orders are expected to be paid within one year of the issuance date. We had open purchase commitments with manufacturers in Taiwan totaling $12.2 million as of June 30, 2024. Guarantees and Indemnifications In the normal course of business, we provide indemnifications to customers against claims of intellectual property infringement made by third parties arising from the use of our products. Other guarantees or indemnification arrangements include guarantees of product and service performance, and standby letters of credit for lease facilities and corporate credit cards. We have not recorded a liability related to these indemnification and guarantee provisions and our guarantees and indemnification arrangements have not had any significant impact on our condensed consolidated financial statements to date.

Equity Incentive Plans and Stoc

Equity Incentive Plans and Stock-Based Compensation	3 Months Ended
Equity Incentive Plans and Stock-Based Compensation	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans and Stock-Based Compensation	Equity Incentive Plans, Stock-Based Compensation and Stock Repurchase Program Equity Incentive Plans 2014 Equity Incentive Plan and 2023 Stock Incentive Plan The 2014 Equity Incentive Plan (the “2014 Plan”) was in effect until it was replaced by the 2023 Stock Incentive Plan (the “2023 Plan”) on April 1, 2023. No further grants will be made under the 2014 Plan. Both the 2014 Plan and 2023 Plan provide for the granting of stock options, restricted stock awards, restricted stock units (“RSUs”), market performance-based RSUs (“PSUs”), stock appreciation rights, performance units and performance shares to our employees, consultants and members of our Board of Directors. As of June 30, 2024, we had 3,537,527 shares available for future grant under the 2023 Plan. 2014 Employee Stock Purchase Plan The 2014 Employee Stock Purchase Plan, as amended (the “Amended 2014 Purchase Plan”) provides employees with an opportunity to purchase our common stock through accumulated contributions, up to a maximum of 10% of eligible compensation, with offering periods of six months in duration, beginning on or about December 1 and June 1 each year. As of June 30, 2024, the Company had 653,839 shares available for future issuance under the Amended 2014 Purchase Plan. Stock-Based Compensation A summary of our stock-based compensation expense is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock-based compensation by type of award: Stock awards $ 3,978 $ 3,204 $ 7,510 $ 6,648 Employee stock purchase rights 288 268 595 566 $ 4,266 $ 3,472 $ 8,105 $ 7,214 Stock-based compensation by category of expense: Cost of net revenue $ 561 $ 404 $ 1,017 $ 815 Sales and marketing 1,102 891 2,136 2,057 Research and development 1,017 807 1,887 1,637 General and administrative 1,586 1,370 3,065 2,705 $ 4,266 $ 3,472 $ 8,105 $ 7,214 As of June 30, 2024, the Company had $41.2 million of unrecognized stock-based compensation expense related to unvested stock-based awards, including common stock acquired under our Amended 2014 Purchase Plan, which will be recognized over a weighted-average period of 2.81 years. Stock Options The following table summarizes our stock option activities and related information: Number of Shares (thousands) Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (thousands) Outstanding as of December 31, 2023 80 $ 4.63 Exercised (33) 4.40 Canceled (3) 12.19 Outstanding as of June 30, 2024 44 4.38 0.47 $ 413 Vested and exercisable as of June 30, 2024 44 $ 4.38 0.47 $ 413 As of June 30, 2024, the aggregate intrinsic value represents the excess of the closing price of our common stock of $13.85 over the exercise price of the outstanding in-the-money options. The intrinsic value of options exercised was $0.1 million and $0.3 million during the three months ended June 30, 2024 and 2023, respectively, and was $0.3 million and $1.0 million during the six months ended June 30, 2024 and 2023, respectively. Stock Awards The Company has granted RSUs to its employees, consultants and members of its Board of Directors, and PSUs to certain executives and employees. The Company’s PSUs have market performance-based vesting conditions as well as service-based vesting conditions. As of June 30, 2024, there were 3,132,471 RSUs and 900,590 PSUs outstanding. The following table summarizes our stock award activities and related information: Number of Shares (thousands) Weighted-Average Grant Date Fair Value Per Share Weighted-Average Remaining Vesting Term Aggregate Fair Value (thousands) Nonvested as of December 31, 2023 3,017 $ 13.15 Granted 1,551 13.24 Released (385) 11.05 Canceled (150) 14.06 Nonvested as of June 30, 2024 4,033 $ 13.35 1.93 $ 45,042 The aggregate fair value of stock awards released was $1.3 million and $1.4 million for the three months ended June 30, 2024 and 2023, respectively, and was $4.2 million and $4.4 million for the six months ended June 30, 2024 and 2023, respectively. Stock Repurchase Programs On November 1, 2022, the Company announced its Board of Directors authorized a stock repurchase program of up to $50 million of its common stock over a period of twelve months (the “2022 Program”). During the six months ended June 30, 2023, the Company repurchased 0.4 million shares for a total cost of $6.2 million under the 2022 Program. This repurchase program was active for twelve months and expired in the second half of 2023. On November 7, 2023, the Company announced its Board of Directors authorized a new stock repurchase program of up to $50 million of its common stock over a period of twelve months (the “2023 Program”). During the six months ended June 30, 2024, the Company repurchased 1.1 million shares for a total cost of $14.9 million under the 2023 Program. Under the Company’s stock repurchase programs, repurchased shares are held in treasury at cost. The Company’s stock repurchase programs do not obligate it to acquire any specific number of shares. Shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.

Net Income Per Share

Net Income Per Share	6 Months Ended
Net Income Per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per share is computed using the weighted average number of common shares outstanding for the period. Diluted net income per share applying the treasury stock method is computed using the weighted average number of common shares outstanding for the period plus potential dilutive common shares, including stock options, RSUs, PSUs and employee stock purchase rights, unless the potential common shares are anti-dilutive. Basic and diluted net income per share are calculated as follows (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic and diluted net income per share Numerator: Net income $ 9,476 $ 11,626 $ 19,202 $ 15,584 Denominator: Weighted-average shares outstanding - basic 74,366 74,017 74,401 74,009 Effect of dilutive potential common shares from stock options, stock awards and employee stock purchase plan 1,131 1,411 1,031 1,503 Weighted-average shares outstanding - diluted 75,497 75,428 75,432 75,512 Net income per share: Basic $ 0.13 $ 0.16 $ 0.26 $ 0.21 Diluted $ 0.13 $ 0.15 $ 0.25 $ 0.21 The following table presents common shares related to potentially dilutive shares excluded from the calculation of diluted net income per share as their effect would have been anti-dilutive (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options, restricted stock units and employee stock purchase rights 89 89 67 63

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We recorded a provision for income tax $1.5 million and $3.2 million for the three months ended June 30, 2024 and 2023, respectively, and we recorded a provision for income tax expense of $3.0 million and $4.2 million for the six months ended June 30, 2024 and 2023, respectively. The Company’s income tax provision for the three and six months ended June 30, 2024 and 2023 primarily consisted of U.S. federal and state taxes. We had $8.1 million of unrecognized tax benefits as of June 30, 2024. We do not anticipate a material change to our unrecognized tax benefits over the next twelve months. Unrecognized tax benefits may change during the next twelve months for items that arise in the ordinary course of business. Accrued interest and penalties related to unrecognized tax benefits are recognized as part of our provision for income taxes in our condensed consolidated statements of operations. We are subject to taxation in the United States, various states, and several foreign jurisdictions. Because we have net operating loss and credit carryforwards, there are open statutes of limitations in which federal, state and foreign taxing authorities may examine our tax returns for all years from 2005 through the current period. We are not currently under examination by any taxing authorities.

Geographic Information

Geographic Information	6 Months Ended
Geographic Information	Jun. 30, 2024
Segment Reporting [Abstract]
Geographic Information	Geographic Information We report customer revenues in three broad geographic regions: the Americas, APJ and EMEA regions. The Americas region comprises the United States and other countries in the Americas (excluding the United States). The APJ region comprises Japan and other countries in Asia Pacific. The EMEA region comprises Europe, Middle East and Africa. We believe this geographic revenue view is consistent with how we evaluate our financial performance. The following table depicts the disaggregation of revenue by geographic region based on the ship to location of our customers (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Americas $ 30,869 $ 36,921 $ 58,311 $ 66,877 United States 26,709 31,840 49,853 55,961 Americas-other 4,160 5,081 8,458 10,916 APJ 19,287 21,982 44,330 37,742 EMEA 9,940 6,914 18,130 18,889 Total net revenue $ 60,096 $ 65,817 $ 120,771 $ 123,508 The following table is a summary of our long-lived assets which include property and equipment, net and operating lease right-of-use assets based on the physical location of the assets (in thousands): As of June 30, 2024 As of December 31, 2023 United States $ 45,487 $ 43,782 APAC 1,462 1,094 Japan 735 1,096 EMEA 256 280 Total $ 47,940 $ 46,252

Revenue Revenue

Revenue Revenue	6 Months Ended
Revenue Revenue	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue We report two customer verticals: service providers and enterprises. Revenue generated from service providers and enterprises was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Service providers $ 33,377 $ 44,391 $ 71,038 $ 76,957 Enterprises 26,719 21,426 49,733 46,551 Total $ 60,096 $ 65,817 $ 120,771 $ 123,508 Contract Balances The following table reflects contract balances with customers (in thousands): As of June 30, 2024 As of December 31, 2023 Accounts receivable, net $ 57,395 $ 74,307 Deferred revenue, current 81,993 82,657 Deferred revenue, non-current 57,963 58,677 We receive payments from customers based upon billing cycles. Invoice payment terms usually range from 30 to 90 days. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts related to our contractual right to consideration for performance obligations not yet billed and are included in prepaid and other current assets in the condensed consolidated balance sheets. The amounts were immaterial as of June 30, 2024 and December 31, 2023. Deferred revenue primarily consists of amounts that have been invoiced but not yet been recognized as revenue and consists of performance obligations pertaining to support and subscription services. We recognized revenue of $27.9 million and $26.1 million during the three months ended June 30, 2024 and 2023, respectively, related to deferred revenues at the beginning of the respective periods. We recognized revenue of $49.7 million and $51.3 million during the six months ended June 30, 2024 and 2023, respectively, related to deferred revenues at the beginning of the respective periods. Deferred Contract Acquisition Costs We capitalize certain contract acquisition costs consisting of incremental sales commissions incurred to obtain customer contracts. Deferred commissions related to product revenues are recognized upon transfer of control to customers. Deferred commissions related to services revenue are recognized as the related performance obligations are met. Deferred commissions that will be recognized during the succeeding 12-month period are recorded as prepaid expenses and other current assets, and the remaining portion is recorded as other non-current assets. Amortization of deferred commissions is included in sales and marketing expense. As of June 30, 2024, the current and non-current portions of deferred contract acquisition costs were $6.4 million and $4.1 million, respectively. As of December 31, 2023, the current and non-current portions of deferred contract acquisition costs were $6.2 million and $4.4 million, respectively. Related amortization expense was $2.0 million and $1.5 million for the three months ended June 30, 2024 and 2023, respectively, and was $3.6 million and $3.4 million, for the six months ended June 30, 2024 and 2023, respectively. We had no impairment loss in relation to the costs capitalized and no asset impairment charges related to contract assets during the three and six months ended June 30, 2024 and 2023. Remaining Performance Obligations Remaining performance obligations represent contracted revenues that are non-cancellable and have not yet been recognized due to unsatisfied or partially satisfied performance obligations, which include deferred revenues and amounts that will be invoiced and recognized as revenues in future periods. We expect to recognize revenue on the remaining performance obligations as follows (in thousands): As of June 30, 2024 Within 1 year $ 82,022 Next 2 to 3 years 47,065 Thereafter 10,869 Total $ 139,956

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn July 30, 2024, the Company announced its Board of Directors approved a quarterly cash dividend. The dividend, in the amount of $0.06 per share outstanding, will be paid on September 3, 2024 to stockholders of record on August 15, 2024 as a return of capital. Future dividends will be subject to further review and approval by the Board of Directors in accordance with applicable law. The Board of Directors reserves the right to adjust or withdraw the quarterly dividend in future periods as it reviews the Company’s capital allocation strategy from time-to-time.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
Derivative Instruments and Hedging Activities	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	Derivatives Foreign Exchange Forward Contracts The Company uses derivative financial instruments to manage exposures to foreign currency that may or may not be designated as hedging instruments. The Company’s objective for holding derivatives is to use the most effective methods to minimize the impact of these exposures. The Company does not enter into derivatives for speculative or trading purposes. The Company enters into foreign exchange forward contracts primarily to mitigate the effect of gains and losses generated by foreign currency transactions related to certain operating expenses and remeasurement of certain assets and liabilities denominated in foreign currencies. For foreign exchange forward contracts not designated as hedging instruments, the fair value of the derivatives in a net gain or not loss position are recorded in prepaid expenses and other current assets in the consolidated balance sheets. Changes in the fair value of derivatives are recorded as gains or losses in other income (expense), net, in the consolidated statements of operations. As of June 30, 2024 and December 31, 2023, foreign exchange forward currency contracts not designated as hedging instruments had total notional amounts of $9.6 million and $34.5 million, respectively. These contracts have maturities of less than 30 days. For the three months ended June 30, 2024 and 2023, the Company recorded foreign exchange related net losses of $0.1 million and net gains of $0.2 million, respectively, and for the six months ended June 30, 2024 and 2023, the Company recorded net losses of $0.3 million and $0.4 million, respectively, in its consolidated statements of operations related to these contracts. For foreign exchange forward contracts designated as hedging instruments, unrealized gains and losses arising from these contracts are recorded as a component of accumulated other comprehensive income (loss) on the consolidated balance sheets. The hedging gains and losses in accumulated other comprehensive income (loss) in the consolidated balance sheet are subsequently reclassified to expenses, as applicable, in the consolidated statements of operations in the same period in which the underlying transactions affect the Company’s earnings. As of June 30, 2024, no foreign exchange forward currency contracts designated as hedging instruments were outstanding and as of December 31, 2023, foreign exchange forward currency contracts designated as hedging instruments had a notional amount of $10.8 million. These contracts have 30 days maturities.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 9,476	$ 11,626	$ 19,202	$ 15,584

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include those of A10 Networks, Inc. and its subsidiaries after elimination of all intercompany accounts and transactions. We have prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC” or the “Commission”). As permitted under these rules and regulations, we have condensed or omitted certain financial information and footnote disclosures we normally include in our annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The unaudited condensed consolidated balance sheet as of December 31, 2023 has been derived from our audited financial statements, which are included in our 2023 Annual Report on Form 10-K for the year ended December 31, 2023 on file with the SEC (the “2023 Annual Report”). These financial statements have been prepared on the same basis as our annual financial statements and, in management’s opinion, reflect all adjustments consisting only of normal recurring adjustments that are necessary for a fair presentation of our financial information. Our interim period operating results do not necessarily indicate the results that may be expected for any other interim period or for the full fiscal year. These financial statements and accompanying notes should be read in conjunction with the financial statements and accompanying notes thereto in the 2023 Annual Report.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Those estimates and assumptions affect revenue recognition and deferred revenue, the allowance for credit losses for potential uncollectible amounts, the sales return reserve, the valuation of inventory, the fair value of marketable securities, contingencies and litigation, accrued liabilities, deferred commissions and the determination of fair value of stock-based compensation. These estimates are based on information available as of the date of the condensed consolidated financial statements, therefore, actual results could differ from management’s estimates.
Concentration of Credit Risk and Significant Customers	Concentration of Credit Risk and Significant Customers Financial instruments that potentially subject us to concentrations of credit risk consist of cash, cash equivalents, marketable securities and accounts receivable. Our cash, cash equivalents and marketable securities are held and invested in high-credit quality financial instruments by recognized financial institutions and are subject to minimum credit risk. Our accounts receivable are unsecured and represent amounts due to us based on contractual obligations of our customers. We mitigate credit risk in respect to accounts receivable by performing periodic credit evaluations based on a number of factors, including past transaction experience, evaluation of credit history and review of the invoicing terms of the contract. We generally do not require our customers to provide collateral to support accounts receivable. Significant customers, including distribution channel partners and direct customers (end-customers), are those which represent 10% or more of our total revenue for each period presented or our gross accounts receivable balance as of each respective balance sheet date.
Recently Adopted Accounting Guidance/Recent Accounting Pronouncements Not Yet Effective	Recent Accounting Standards Not Yet Adopted In November 2023, the Financial Accounting Standards Board, or the FASB, issued Accounting Standards Update, or ASU, 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires public entities to disclose information about their reportable segments’ significant expenses and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to apply the disclosure requirements in ASU 2023-07, as well as all existing segment disclosures and reconciliation requirements in ASC 280, on an interim and annual basis. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. We do not expect the adoption of this accounting standard to have an impact on our consolidated financial statements, but will require certain additional disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. We are currently evaluating the impact of adopting ASU 2023-09. There have been no other recent accounting pronouncements, changes in accounting pronouncements or recently adopted accounting guidance during the three and six months ended June 30, 2024 that are of significance or potential significance to us.
Deferred Contract Acquisition Costs	Deferred Contract Acquisition Costs We capitalize certain contract acquisition costs consisting of incremental sales commissions incurred to obtain customer contracts. Deferred commissions related to product revenues are recognized upon transfer of control to customers. Deferred commissions related to services revenue are recognized as the related performance obligations are met. Deferred commissions that will be recognized during the succeeding 12-month period are recorded as prepaid expenses and other current assets, and the remaining portion is recorded as other non-current assets. Amortization of deferred commissions is included in sales and marketing expense.

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Revenue as Percentage of Total Revenue	Three Months Ended June 30, Six Months Ended June 30, Customers 2024 2023 2024 2023 Customer A 14% 25% 13% 20%

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2024
Leases [Abstract]
Assets And Liabilities,	The table below presents the Company’s right-of-use assets and lease liabilities as of June 30, 2024 (in thousands): As of June 30, 2024 As of December 31, 2023 Operating leases Right-of-use assets: Other non-current assets $ 13,928 $ 16,376 Total right-of-use assets $ 13,928 $ 16,376 Lease liabilities: Accrued liabilities $ 4,874 $ 4,998 Other non-current liabilities 9,445 11,822 Total operating lease liabilities $ 14,319 $ 16,820
Lease Payments	The aggregate future lease payments for non-cancelable operating leases as of June 30, 2024 were as follows (in thousands): Remainder of 2024 $ 2,685 2025 4,935 2026 4,893 2027 2,441 Total lease payments 14,954 Less: imputed interest (635) Present value of lease liabilities $ 14,319
Lease Costs	Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Operating lease costs $ 1,075 $ 1,094 $ 2,160 $ 2,203 Short-term lease costs 131 123 247 250 Total lease costs $ 1,206 $ 1,217 $ 2,407 $ 2,453 Average lease terms and discount rates for the Company’s operating leases were as follows: Three Months Ended June 30, 2024 2023 Weighted-average remaining term (years) 2.92 3.84 Weighted-average discount rate 3.2% 3.2% Supplemental cash flow information for the Company’s operating leases were as follows (in thousands): Three Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,688 $ 2,661

Marketable Securities and Fai_2

Marketable Securities and Fair Value Measurements (Tables)	6 Months Ended
Marketable Securities and Fair Value Measurements (Tables)	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Available-for-sale Securities	Marketable securities, classified as available-for-sale, consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate securities $ 38,348 $ 5 $ (26) $ 38,327 $ 15,393 $ 2 $ (2) $ 15,393 U.S. Treasury and agency securities 57,856 42 (47) 57,851 39,963 6 (32) 39,937 Commercial paper — — — — 998 — — 998 Debt securities $ 96,204 $ 47 $ (73) $ 96,178 $ 56,354 $ 8 $ (34) $ 56,328 Publicly held equity securities - Level 1 3,504 5,728 Total marketable securities $ 99,682 $ 62,056
Schedule of Cost and Estimated Fair Values of Available-for-sale Securities by Contractual Maturity	The following table summarizes the cost and estimated fair value of our marketable securities based on stated effective maturities as of June 30, 2024 (excluding publicly held equity securities, in thousands): As of June 30, 2024 Amortized Cost Fair Value Less than 1 year $ 62,997 $ 62,940 Mature in 1 - 3 years 33,207 33,238 Debt securities $ 96,204 $ 96,178
Schedule of gross unrealized losses	Marketable securities in an unrealized loss position as of June 30, 2024 consisted of the following (in thousands): Less Than 12 Months 12 Months or More Total As of June 30, 2024 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate securities $ 26,968 $ (26) $ — $ — $ 26,968 $ (26) U.S. Treasury and agency securities 32,410 (45) 1,898 (2) 34,308 (47) Total $ 59,378 $ (71) $ 1,898 $ (2) $ 61,276 $ (73) Marketable securities in an unrealized loss position as of December 31, 2023 consisted of the following (in thousands): Less Than 12 Months 12 Months or More Total As of December 31, 2023 Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Corporate securities $ 9,418 $ (2) $ — $ — $ 9,418 $ (2) U.S. Treasury and agency securities 24,304 (32) — — 24,304 (32) Total $ 33,722 $ (34) $ — $ — $ 33,722 $ (34)
Schedule of Cash, Cash Equivalents and Available-for-sale Investments Measured at Fair Value on Recurring Basis	The following is a summary of our cash, cash equivalents and marketable securities measured at fair value on a recurring basis (in thousands): As of June 30, 2024 As of December 31, 2023 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash $ 70,115 $ — $ — $ 70,115 $ 52,451 $ — $ — $ 52,451 Cash equivalents 7,342 — — 7,342 44,793 — — 44,793 Corporate securities — 38,327 — 38,327 — 15,393 — 15,393 U.S. Treasury and agency securities 37,860 19,991 — 57,851 12,701 27,236 — 39,937 Commercial paper — — — — — 998 — 998 $ 115,317 $ 58,318 $ — $ 173,635 $ 109,945 $ 43,627 $ — $ 153,572 Publicly held equity securities - Level 1 3,504 5,728 Total $ 177,139 $ 159,300

Condensed Consolidated Financia

Condensed Consolidated Financial Statement Details (Tables)	3 Months Ended	6 Months Ended
Condensed Consolidated Financial Statement Details (Tables)	Jun. 30, 2024	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Inventory		Inventory consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Raw materials $ 16,413 $ 15,473 Finished goods 8,799 8,049 Total inventory $ 25,212 $ 23,522
Prepaid Expenses and Other Current Assets		Prepaid expenses and other current assets consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Prepaid expenses $ 6,523 $ 6,143 Deferred contract acquisition costs 6,347 6,177 Other 2,431 2,375 Total prepaid expenses and other current assets $ 15,301 $ 14,695
Schedule of Property and Equipment, Net		Property and equipment, net, consisted of the following (in thousands): Useful Life As of June 30, 2024 As of December 31, 2023 (in years) Equipment 1 - 5 $ 34,679 $ 31,174 Software 1 - 3 4,016 5,339 Furniture and fixtures 1 - 7 531 520 Leasehold improvements Lease term 3,425 3,207 Construction in process 18,505 13,731 Property and equipment, gross 61,156 53,971 Less: accumulated depreciation (27,144) (24,095) Property and equipment, net $ 34,012 $ 29,876
Schedule of Accrued Liabilities		Accrued liabilities consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Accrued compensation and benefits $ 12,243 $ 7,633 Accrued tax liabilities 2,153 1,429 Lease liability 4,874 4,998 Other 8,128 7,328 Total accrued liabilities $ 27,398 $ 21,388
Schedule of Deferred Revenue		Deferred revenue consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Deferred revenue: Products $ 1,833 $ 14,917 Services 138,123 126,417 Total deferred revenue 139,956 141,334 Less: current portion (81,993) (82,657) Non-current portion $ 57,963 $ 58,677 The following table reflects contract balances with customers (in thousands): As of June 30, 2024 As of December 31, 2023 Accounts receivable, net $ 57,395 $ 74,307 Deferred revenue, current 81,993 82,657 Deferred revenue, non-current 57,963 58,677
Financing Receivable, Allowance for Credit Loss	Accounts Receivable Allowance for Credit Losses The following table presents the change in the Company’s accounts receivable allowance for credit losses (in thousands): As of June 30, 2024 As of December 31, 2023 Allowance for credit losses, beginning balance $ 405 $ 32 Increase (decrease) in allowance 954 1,181 Write-offs (683) (808) Allowance for credit losses, ending balance $ 676 $ 405

Equity Incentive Plans and St_2

Equity Incentive Plans and Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock-based Compensation	A summary of our stock-based compensation expense is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock-based compensation by type of award: Stock awards $ 3,978 $ 3,204 $ 7,510 $ 6,648 Employee stock purchase rights 288 268 595 566 $ 4,266 $ 3,472 $ 8,105 $ 7,214 Stock-based compensation by category of expense: Cost of net revenue $ 561 $ 404 $ 1,017 $ 815 Sales and marketing 1,102 891 2,136 2,057 Research and development 1,017 807 1,887 1,637 General and administrative 1,586 1,370 3,065 2,705 $ 4,266 $ 3,472 $ 8,105 $ 7,214
Summary of Activity under Stock Option Plans	The following table summarizes our stock option activities and related information: Number of Shares (thousands) Weighted-Average Exercise Price Per Share Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value (thousands) Outstanding as of December 31, 2023 80 $ 4.63 Exercised (33) 4.40 Canceled (3) 12.19 Outstanding as of June 30, 2024 44 4.38 0.47 $ 413 Vested and exercisable as of June 30, 2024 44 $ 4.38 0.47 $ 413
Summary of Restricted Stock Units Activity	The following table summarizes our stock award activities and related information: Number of Shares (thousands) Weighted-Average Grant Date Fair Value Per Share Weighted-Average Remaining Vesting Term Aggregate Fair Value (thousands) Nonvested as of December 31, 2023 3,017 $ 13.15 Granted 1,551 13.24 Released (385) 11.05 Canceled (150) 14.06 Nonvested as of June 30, 2024 4,033 $ 13.35 1.93 $ 45,042

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
Net Income Per Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Basic and diluted net income per share are calculated as follows (in thousands, except per share amounts): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic and diluted net income per share Numerator: Net income $ 9,476 $ 11,626 $ 19,202 $ 15,584 Denominator: Weighted-average shares outstanding - basic 74,366 74,017 74,401 74,009 Effect of dilutive potential common shares from stock options, stock awards and employee stock purchase plan 1,131 1,411 1,031 1,503 Weighted-average shares outstanding - diluted 75,497 75,428 75,432 75,512 Net income per share: Basic $ 0.13 $ 0.16 $ 0.26 $ 0.21 Diluted $ 0.13 $ 0.15 $ 0.25 $ 0.21
Summary of Anti-dilutive Shares	The following table presents common shares related to potentially dilutive shares excluded from the calculation of diluted net income per share as their effect would have been anti-dilutive (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options, restricted stock units and employee stock purchase rights 89 89 67 63

Geographic Information (Tables)

Geographic Information (Tables)	6 Months Ended
Geographic Information (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Total Revenue Based on Customer's Location	The following table depicts the disaggregation of revenue by geographic region based on the ship to location of our customers (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Americas $ 30,869 $ 36,921 $ 58,311 $ 66,877 United States 26,709 31,840 49,853 55,961 Americas-other 4,160 5,081 8,458 10,916 APJ 19,287 21,982 44,330 37,742 EMEA 9,940 6,914 18,130 18,889 Total net revenue $ 60,096 $ 65,817 $ 120,771 $ 123,508
Long-lived Assets by Geographic Areas	The following table is a summary of our long-lived assets which include property and equipment, net and operating lease right-of-use assets based on the physical location of the assets (in thousands): As of June 30, 2024 As of December 31, 2023 United States $ 45,487 $ 43,782 APAC 1,462 1,094 Japan 735 1,096 EMEA 256 280 Total $ 47,940 $ 46,252

Revenue (Tables)

Revenue (Tables)	3 Months Ended	6 Months Ended
Revenue (Tables)	Jun. 30, 2024	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability		Deferred revenue consisted of the following (in thousands): As of June 30, 2024 As of December 31, 2023 Deferred revenue: Products $ 1,833 $ 14,917 Services 138,123 126,417 Total deferred revenue 139,956 141,334 Less: current portion (81,993) (82,657) Non-current portion $ 57,963 $ 58,677 The following table reflects contract balances with customers (in thousands): As of June 30, 2024 As of December 31, 2023 Accounts receivable, net $ 57,395 $ 74,307 Deferred revenue, current 81,993 82,657 Deferred revenue, non-current 57,963 58,677
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction		We expect to recognize revenue on the remaining performance obligations as follows (in thousands): As of June 30, 2024 Within 1 year $ 82,022 Next 2 to 3 years 47,065 Thereafter 10,869 Total $ 139,956
Disaggregation of Revenue	Revenue generated from service providers and enterprises was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Service providers $ 33,377 $ 44,391 $ 71,038 $ 76,957 Enterprises 26,719 21,426 49,733 46,551 Total $ 60,096 $ 65,817 $ 120,771 $ 123,508

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Concentration Risk (Details)	3 Months Ended			6 Months Ended
	Jun. 30, 2024 solution	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024 tool	Jun. 30, 2023
Entity Wide Revenue Major Customer [Line Items]
Number of software based advanced solutions \| solution	6
Number Of Intelligent Management And Automation Tools \| tool				2
Customer A \| Revenue \| Customer Concentration Risk
Entity Wide Revenue Major Customer [Line Items]
Percentage representation of significant customers (percent)	14%		25%	13%	20%
Customer A \| Accounts Receivable \| Customer Concentration Risk
Entity Wide Revenue Major Customer [Line Items]
Percentage representation of significant customers (percent)	43%	19%

Leases - Assets and Liabilities

Leases - Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Total right-of-use assets	$ 13,928	$ 16,376
Accrued liabilities	4,874	4,998
Other non-current liabilities	9,445	11,822
Total operating lease liabilities	$ 14,319	$ 16,820

Leases - Lease Liabilities (Det

Leases - Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 2,685
2021	4,935
2022	4,893
2023	2,441
Total lease payments	14,954
Less: imputed interest	(635)
Present value of lease liabilities	$ 14,319	$ 16,820

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases - Lease Costs (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Operating lease costs	$ 1,075	$ 1,094	$ 2,160	$ 2,203
Short-term lease costs	131	123	247	250
Total lease costs	$ 1,206	$ 1,217	$ 2,407	$ 2,453
Weighted-average remaining term (years)	2 years 11 months 1 day	3 years 10 months 2 days	2 years 11 months 1 day	3 years 10 months 2 days
Weighted-average discount rate	3.20%	3.20%	3.20%	3.20%
Operating cash flows from operating leases			$ 2,688	$ 2,661

Marketable Securities and Fai_3

Marketable Securities and Fair Value Measurements - Estimate of Fair Value of Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 96,204	$ 56,354
Gross Unrealized Gains	47	8
Gross Unrealized Losses	(73)	(34)
Fair Value	96,178	56,328
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	38,348	15,393
Gross Unrealized Gains	5	2
Gross Unrealized Losses	(26)	(2)
Fair Value	38,327	15,393
U.S. Treasury and agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	57,856	39,963
Gross Unrealized Gains	42	6
Gross Unrealized Losses	(47)	(32)
Fair Value	57,851	39,937
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	0	998
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 0	$ 998

Marketable Securities and Fai_4

Marketable Securities and Fair Value Measurements - Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Amortized Cost
Less than 1 year	$ 62,997
Mature in 1 - 3 years	33,207
Amortized Cost	96,204	$ 56,354
Fair Value
Less than 1 year	62,940
Mature in 1 - 3 years	33,238
Fair Value	$ 96,178	$ 56,328

Marketable Securities and Fai_5

Marketable Securities and Fair Value Measurements - Securities in Unrealized Loss Position (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less Than 12 Months	$ 59,378	$ 33,722
Fair Value, 12 Months or More	1,898	0
Fair Value, Total	61,276	33,722
Gross Unrealized Losses, Less Than 12 Months	(71)	(34)
Gross Unrealized Losses,12 Months or More	(2)	0
Gross Unrealized Losses	(73)	(34)
Corporate securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less Than 12 Months	26,968	9,418
Fair Value, 12 Months or More	0	0
Fair Value, Total	26,968	9,418
Gross Unrealized Losses, Less Than 12 Months	(26)	(2)
Gross Unrealized Losses,12 Months or More	0	0
Gross Unrealized Losses	(26)	(2)
U.S. Treasury and agency securities
Debt Securities, Available-for-sale [Line Items]
Fair Value, Less Than 12 Months	32,410	24,304
Fair Value, 12 Months or More	1,898	0
Fair Value, Total	34,308	24,304
Gross Unrealized Losses, Less Than 12 Months	(45)	(32)
Gross Unrealized Losses,12 Months or More	(2)	0
Gross Unrealized Losses	$ (47)	$ (32)

Marketable Securities and Fai_6

Marketable Securities and Fair Value Measurements - Schedule of Fair Value of Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financial Assets
Marketable Securities	$ 96,178	$ 56,328
Total	177,139	159,300
Other Short-Term Investments	3,504	5,728
Level 1
Financial Assets
Total	115,317	109,945
Level 2
Financial Assets
Total	58,318	43,627
Fair Value, Inputs, Level 1, 2 and 3
Financial Assets
Total	173,635	153,572
Cash
Financial Assets
Cash and Cash Equivalents	70,115	52,451
Cash \| Level 1
Financial Assets
Cash and Cash Equivalents	70,115	52,451
Cash equivalents
Financial Assets
Cash and Cash Equivalents	7,342	44,793
Cash equivalents \| Level 1
Financial Assets
Cash and Cash Equivalents	7,342	44,793
Corporate securities
Financial Assets
Marketable Securities	38,327	15,393
Corporate securities \| Level 2
Financial Assets
Marketable Securities	38,327	15,393
U.S. Treasury and agency securities
Financial Assets
Marketable Securities	57,851	39,937
U.S. Treasury and agency securities \| Level 1
Financial Assets
Marketable Securities	37,860	12,701
U.S. Treasury and agency securities \| Level 2
Financial Assets
Marketable Securities	19,991	27,236
Commercial paper
Financial Assets
Marketable Securities	0	998
Commercial paper \| Level 2
Financial Assets
Marketable Securities	$ 0	$ 998

Condensed Consolidated Financ_2

Condensed Consolidated Financial Statement Details - Accounts Receivable Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Increase (decrease) in allowance
Allowance for credit losses, beginning balance		$ 405
Increase (decrease) in allowance	$ 954	1,181
Write-offs	(683)	$ (808)
Allowance for credit losses, ending balance	$ 676

Condensed Consolidated Financ_3

Condensed Consolidated Financial Statement Details - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 16,413	$ 15,473
Finished goods	8,799	8,049
Total inventory	$ 25,212	$ 23,522

Condensed Consolidated Financ_4

Condensed Consolidated Financial Statement Details - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Prepaid expenses	$ 6,523	$ 6,143
Deferred contract acquisition costs	6,347	6,177
Other	2,431	2,375
Total prepaid expenses and other current assets	$ 15,301	$ 14,695

Condensed Consolidated Financ_5

Condensed Consolidated Financial Statement Details - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 61,156		$ 61,156		$ 53,971
Less: accumulated depreciation	(27,144)		(27,144)		(24,095)
Property and equipment, net	34,012		34,012		29,876
Depreciation expense	1,600	$ 1,000	3,100	$ 2,000
Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	34,679		34,679		31,174
Software
Property Plant And Equipment [Line Items]
Property and equipment, gross	4,016		4,016		5,339
Furniture and fixtures
Property Plant And Equipment [Line Items]
Property and equipment, gross	531		531		520
Leasehold improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	3,425		3,425		3,207
Construction in process
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 18,505		$ 18,505		$ 13,731
Minimum \| Equipment
Property Plant And Equipment [Line Items]
Useful life	1 year		1 year
Minimum \| Software
Property Plant And Equipment [Line Items]
Useful life	1 year		1 year
Minimum \| Furniture and fixtures
Property Plant And Equipment [Line Items]
Useful life	1 year		1 year
Maximum \| Equipment
Property Plant And Equipment [Line Items]
Useful life	5 years		5 years
Maximum \| Software
Property Plant And Equipment [Line Items]
Useful life	6 years		6 years
Maximum \| Furniture and fixtures
Property Plant And Equipment [Line Items]
Useful life	7 years		7 years

Condensed Consolidated Financ_6

Condensed Consolidated Financial Statement Details - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1.6	$ 1	$ 3.1	$ 2
Capitalized Computer Software, Net	2.8		2.8
Capitalized Computer Software, Amortization	0.1	0.1	0.2	0.1
Capitalized Computer Software, Additions	$ 0	$ 0.1	$ 0	$ 0.2

Condensed Consolidated Financ_7

Condensed Consolidated Financial Statement Details - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued compensation and benefits	$ 12,243	$ 7,633
Accrued tax liabilities	2,153	1,429
Lease liability	4,874	4,998
Other	8,128	7,328
Total accrued liabilities	$ 27,398	$ 21,388

Condensed Consolidated Financ_8

Condensed Consolidated Financial Statement Details - Schedule of Deferred Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	$ 139,956	$ 141,334
Less: current portion	(81,993)	(82,657)
Non-current portion	57,963	58,677
Products
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	1,833	14,917
Services
Deferred Revenue Arrangement [Line Items]
Total deferred revenue	$ 138,123	$ 126,417

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 1.2	$ 1.2	$ 2.4	$ 2.5
Remaining purchase commitments	$ 12.2		$ 12.2

Equity Incentive Plans and St_3

Equity Incentive Plans and Stock-Based Compensation - 2014 Equity Incentive Plan/ESPP (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2018	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of options exercised		$ 0.1	$ 0.3	$ 0.3	$ 1
2014 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future grant (in shares)		3,537,527		3,537,527
Amended 2014 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future grant (in shares)		653,839		653,839
Amended 2014 Employee Stock Purchase Plan \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of eligible compensation	10%
Offering period	6 months

Equity Incentive Plans and St_4

Equity Incentive Plans and Stock-Based Compensation - Schedule of Stock-based Compensation Awards Granted under Stock Option Plan in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 4,266	$ 3,472	$ 8,105	$ 7,214
Cost of net revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	561	404	1,017	815
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1,102	891	2,136	2,057
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1,017	807	1,887	1,637
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1,586	1,370	3,065	2,705
Stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	3,978	3,204	7,510	6,648
Employee stock purchase rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 288	$ 268	$ 595	$ 566

Equity Incentive Plans and St_5

Equity Incentive Plans and Stock-Based Compensation - Stock-based Compensation/Stock Repurchase Program (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Share-Based Payment Arrangement [Abstract]
Total compensation expense related to unvested awards granted, not yet recognized	$ 41.2
Total compensation expense related to unvested awards granted, not yet recognized weighted-average period for recognition (in years)	2 years 9 months 21 days

Equity Incentive Plans and St_6

Equity Incentive Plans and Stock-Based Compensation - Summary of Activity under Stock Option Plans (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Number of Shares (thousands)
Outstanding options, Beginning balance (in shares)			80
Exercised (in shares)			(33)
Canceled (in shares)			(3)
Outstanding options, Ending balance (in shares)	44		44
Vested and exercisable (in shares)	44		44
Weighted-Average Exercise Price Per Share
Beginning balance (in dollars per share)			$ 4.63
Exercised (in dollars per share)			4.40
Canceled (in dollars per share)			12.19
Ending balance (in dollars per share)	$ 4.38		4.38
Vested and exercisable at end of period (in dollars per share)	$ 4.38		$ 4.38
Weighted-average remaining contractual term (in years)			5 months 19 days
Weighted average remaining contractual term, Vested and exercisable at end of period (in years)			5 months 19 days
Aggregate Intrinsic Value	$ 413		$ 413
Aggregate Intrinsic Value, Vested and exercisable at end of period	$ 413		$ 413
Closing price (in dollars per share)	$ 13.85		$ 13.85
Intrinsic value of options exercised	$ 100	$ 300	$ 300	$ 1,000

Equity Incentive Plans and St_7

Equity Incentive Plans and Stock-Based Compensation - Information About Stock Options (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 0.1	$ 0.3	$ 0.3	$ 1

Equity Incentive Plans and St_8

Equity Incentive Plans and Stock-Based Compensation - Summary of RSU activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at end of period (in shares)	4,033,000		4,033,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested	$ 45,042		$ 45,042
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at beginning of period (in shares)			3,017,000
Granted (in shares)			1,551,000
Released (in shares)			(385,000)
Canceled (in shares)			(150,000)
Unvested at end of period (in shares)	3,132,471		3,132,471
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested at beginning of period (in dollars per share)			$ 13.15
Granted (in dollars per share)			13.24
Released (in dollars per share)			11.05
Canceled (in dollars per share)			14.06
Unvested at ending of period (in dollars per share)	$ 13.35		$ 13.35
Weighted-Average Remaining Vesting Term (years)			1 year 11 months 4 days
Fair value of released awards	$ 1,300	$ 1,400	$ 4,200	$ 4,400
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested at end of period (in shares)	900,590		900,590

Equity Incentive Plans and St_9

Equity Incentive Plans and Stock-Based Compensation - Stock Repurchase Program (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Nov. 01, 2022	Oct. 28, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Repurchase Program, Authorized Amount			$ 50	$ 50
Treasury Stock, Value, Acquired, Cost Method	$ 14.9	$ 6.2
Treasury Stock, Shares, Acquired	1.1	0.4

Net Income Per Share - Summary

Net Income Per Share - Summary of Outstanding Shares of Common Stock Equivalents (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share Diluted [Line Items]
Net income	$ 9,476	$ 11,626	$ 19,202	$ 15,584
Weighted-average shares outstanding - basic (in shares)	74,366	74,017	74,401	74,009
Weighted Average Number Diluted Shares Outstanding Adjustment	1,131	1,411	1,031	1,503
Weighted-average shares outstanding - diluted (in shares)	75,497	75,428	75,432	75,512
Basic	$ 0.13	$ 0.16	$ 0.26	$ 0.21
Diluted	$ 0.13	$ 0.15	$ 0.25	$ 0.21
Stock options, restricted stock units and employee stock purchase rights
Earnings Per Share Diluted [Line Items]
Anti-dilutive securities excluded from computation of diluted net income per share	89	89	67	63

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 1,507	$ 3,186	$ 3,001	$ 4,150
Unrecognized tax benefits	$ 8,100		$ 8,100

Geographic Information - Schedu

Geographic Information - Schedule of Total Revenue Based on Customer's Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total net revenue	$ 60,096	$ 65,817	$ 120,771	$ 123,508
Americas
Segment Reporting Information [Line Items]
Total net revenue	30,869	36,921	58,311	66,877
United States
Segment Reporting Information [Line Items]
Total net revenue	26,709	31,840	49,853	55,961
Americas excluding United States
Segment Reporting Information [Line Items]
Total net revenue	4,160	5,081	8,458	10,916
APJ
Segment Reporting Information [Line Items]
Total net revenue	19,287	21,982	44,330	37,742
EMEA
Segment Reporting Information [Line Items]
Total net revenue	$ 9,940	$ 6,914	$ 18,130	$ 18,889

Geographic Information - Long L

Geographic Information - Long Lived Assets By Geographic Area (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 47,940	$ 46,252
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	45,487	43,782
APAC
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	735	1,096
Asia Pacific [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	1,462	1,094
EMEA
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 256	$ 280

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
Revenue - Additional Information (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accumulated deficit	$ 71,282,000		$ 71,282,000		$ 90,484,000
Deferred revenue	139,956,000		139,956,000		141,334,000
Revenue recognized	27,900,000	$ 26,100,000	49,700,000	$ 51,300,000
Asset impairment charges for contract assets			0
Deferred contract acquisition costs	6,347,000		6,347,000		6,177,000
Deferred Sales Commissions
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Deferred contract acquisition costs	4,100,000		4,100,000		4,400,000
Amortization	2,000,000	$ 1,500,000	3,600,000	$ 3,400,000
Impairment loss of contract acquisition costs			0
Deferred contract acquisition costs	$ 6,400,000		$ 6,400,000		$ 6,200,000

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 57,395		$ 57,395		$ 74,307
Deferred revenue	81,993		81,993		82,657
Deferred revenue, non-current	57,963		57,963		58,677
Deferred contract acquisition costs	6,347		6,347		$ 6,177
Disaggregation of Revenue [Line Items]
Total net revenue	60,096	$ 65,817	120,771	$ 123,508
Service Providers
Disaggregation of Revenue [Line Items]
Total net revenue	33,377	44,391	71,038	76,957
Enterprises
Disaggregation of Revenue [Line Items]
Total net revenue	$ 26,719	$ 21,426	$ 49,733	$ 46,551

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 139,956
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	139,956
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 82,022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period	1 year
Remaining performance obligation	$ 82,022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 47,065
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period	2 years
Remaining performance obligation	$ 47,065
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-07-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 10,869
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period	4 years
Remaining performance obligation	$ 10,869

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 30, 2024	Nov. 01, 2022	Oct. 28, 2021
Subsequent Event [Line Items]
Stock Repurchase Program, Authorized Amount		$ 50	$ 50
Subsequent event
Subsequent Event [Line Items]
Dividends Payable, Date Declared	Jul. 30, 2024
Common Stock, Dividends, Per Share, Declared	$ 0.06
Dividends Payable, Date to be Paid	Sep. 03, 2024
Dividends Payable, Date of Record	Aug. 15, 2024

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Details) - Foreign Exchange Forward - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	$ 9.6		$ 9.6		$ 34.5
Derivative, Term of Contract	30 days
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ (0.1)	$ (0.2)	(0.3)	$ (0.4)
Designated as Hedging Instrument
Derivative [Line Items]
Derivative, Notional Amount	$ 0		$ 0		$ 10.8
Derivative, Term of Contract	30 days