A10 Networks stock plunges 16% on Q3 revenue warning

A10 Networks (NYSE:) shares plummeted more than 16% after-hours following the company’s announced preliminary and unaudited results for Q3.

The company expects Q3 revenue in the range of $56.5 million-$58.5M, significantly worse than the consensus estimate of $74.65M. Cash and cash equivalents are seen at $162M-$166M.

“The industry headwinds we discussed on our previous earnings calls impacted our results in the third quarter. In our third quarter we experienced delays related to North American service provider customers pushing out capital expenditures. Deals we expected to close at the end of the quarter were delayed into future periods. This was partially offset by growth in our Enterprise business,” said CEO Dhrupad Trivedi.

Furthermore, the company expects to achieve Q4 revenue of $70M-$80M, compared to the consensus of $82M.