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    Anja Soderstrom • Sidoti & Company, LLC

    Anja Soderstrom's questions to Kimball Electronics Inc (KE) leadership

    Anja Soderstrom's questions to Kimball Electronics Inc (KE) leadership • Q4 2025

    Question

    Anja Soderstrom of Sidoti & Company questioned the primary drivers of margin improvement, the expected level of SG&A, changes to the go-to-market strategy for the Medical segment, the competitive landscape, and the role of automation in the new Indiana facility.

    Answer

    CFO Jana Croom stated that margin improvement will come from both gross margin (via restructuring and utilization) and SG&A discipline, though she noted SG&A will normalize around 3.5% of revenue, not the current 3%, due to growth investments. CEO Richard Phillips added that the medical go-to-market strategy includes new business development hires and a comprehensive marketing plan. He highlighted that the new Indiana facility will be highly automated and is expected to be accretive to margins over time.

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    Anja Soderstrom's questions to Kimball Electronics Inc (KE) leadership • Q3 2025

    Question

    Anja Soderstrom inquired about the timeline for when the declining automotive braking program in Mexico will completely phase out. She also asked about the future impact on gross margin from the closure of the Tampa facility and the opening of the new Indianapolis facility. Lastly, she questioned the remaining potential for investments in automation and other efficiencies.

    Answer

    COO Steven Korn stated the Mexico braking program will be complete by the end of the current quarter (Q4), with a new braking program in Romania ramping up. He anticipates gross margin improvement from the Tampa closure, which is on track to be completed by the end of June, and noted the new Indianapolis facility is not expected to have a major negative impact on margins. CFO Jana Croom added that while the Tampa closure is beneficial, the company faces broader margin pressure from the tariff environment and consumer price sensitivity. CEO Richard Phillips confirmed the company continues to see opportunities and invest in automation.

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    Anja Soderstrom's questions to Kimball Electronics Inc (KE) leadership • Q2 2025

    Question

    Anja Soderstrom of Sidoti inquired about any organizational changes related to the company's increased focus on the medical vertical. She also asked for an outlook on the smart metering business and whether the competitive environment or outsourcing trends have changed.

    Answer

    Chief Executive Officer Ric Phillips explained that the company made a structural change by combining its drug delivery (CMO) business with the core EMS medical vertical to leverage complementary capabilities. Chief Operating Officer Steve Korn stated that the smart metering business, representing 2-3% of revenue, is likely at its bottom. He described the overall competitive environment as consistently intense but noted unique opportunities arising to take business from competitors. He also confirmed an increasing appetite for outsourcing, particularly for high-level assemblies in the medical space.

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    Anja Soderstrom's questions to Kimball Electronics Inc (KE) leadership • Q1 2025

    Question

    Anja Soderstrom of Sidoti & Company sought clarification on the expected Q2 revenue decline, inquired about inventory related to a canceled auto program, and asked about the timing and expected savings from the Tampa facility closure.

    Answer

    Chief Financial Officer Jana Croom clarified the Q2 year-over-year revenue decline would be similar to Q1's, but with improved margins. She explained that auto inventory has long lead times but confirmed they will fully recover inventory from the canceled program. She expects some of the $8-$11 million in exit costs to be incurred in Q2 but declined to quantify savings yet, calling them a 'meaningful pickup.' Chief Executive Officer Ric Phillips added that they are working with the customer on recovery for the canceled program.

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    Anja Soderstrom's questions to OneSpan Inc (OSPN) leadership

    Anja Soderstrom's questions to OneSpan Inc (OSPN) leadership • Q2 2025

    Question

    Anja Soderstrom asked for clarification on the updated ARR guidance, noting the $8 million contribution from Knock Knock versus the $6 million net increase, and also inquired about the general sales pipeline.

    Answer

    CFO Jorge Martell clarified that the $2 million gap in the ARR guidance was due to a faster-than-expected contraction from a bank selling assets and a conservative decision to remove a large customer from the forecast due to their internal implementation delays. CEO Victor Limongelli added that bookings were strong in the first half, with Q3 and Q4 being seasonally stronger, and noted that the new Knock Knock offering provides a positive counterbalance to expected hardware headwinds.

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    Anja Soderstrom's questions to OneSpan Inc (OSPN) leadership • Q1 2025

    Question

    Anja Soderstrom of Sidoti questioned why the strong Q1 adjusted EBITDA margin didn't lead to a higher full-year forecast, asked for the revenue percentage from outside the U.S., and inquired about strategies for acquiring new logos versus expanding existing contracts.

    Answer

    CFO Jorge Martell explained that Q1 is seasonally the strongest for margins due to a favorable revenue mix, and he expects margins to moderate in Q2 before gradually increasing, similar to last year's pattern. CEO Victor Limongelli noted that nearly 90% of Security revenue is from outside the U.S., while the Digital Agreements business is more North America-focused. He added that new logo efforts involve online lead generation for Digital Agreements and a classic field sales approach for the Security segment's large banking clients.

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    Anja Soderstrom's questions to OneSpan Inc (OSPN) leadership • Q4 2024

    Question

    Anja Soderstrom asked about new logo acquisition trends, noting that recent growth appeared to be driven by existing customer expansion. She also inquired about the company's approach to inorganic growth and the current M&A market.

    Answer

    CEO Victor Limongelli explained that new logo growth is historically stronger on the Digital Agreements side and that the company sees new opportunities in the workforce space via channel partners. Regarding M&A, he stated the company would consider 'targeted M&A,' likely focusing on acquiring technology that adds value for their existing customer base rather than large-scale revenue acquisitions.

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    Anja Soderstrom's questions to OneSpan Inc (OSPN) leadership • Q3 2024

    Question

    Anja Soderstrom of Sidoti & Company questioned whether the cost-cutting initiatives were completed ahead of schedule or yielded more savings than planned, the outlook for gross margin, and the drivers behind the strong sequential growth in Security Solutions subscription revenue.

    Answer

    CFO Jorge Martell confirmed the cost savings program benefited from both faster execution and identifying unplanned efficiencies. He projected the full-year gross margin would now be in the low 70s, an improvement from prior expectations. Martell attributed the Security subscription revenue growth to strong demand for authentication products, cross-selling, and price uplifts from converting perpetual licenses to term agreements. CEO Victor Limongelli added that 2024 marks the first year security subscription revenue will surpass hardware revenue.

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    Anja Soderstrom's questions to Forrester Research Inc (FORR) leadership

    Anja Soderstrom's questions to Forrester Research Inc (FORR) leadership • Q2 2025

    Question

    Anja Soderstrom from Sidoti & Company inquired about initiatives to improve the events business, current trends in multi-year contracts, and the status of the sales force build-out and productivity.

    Answer

    Chief Product Officer Carrie Johnson detailed plans to modernize event sponsorship offerings and upskill sales teams. CEO George Colony added that relocating events, such as moving a conference to Amsterdam, is also expected to boost sponsorship. Chief Sales Officer Nate Swan confirmed positive trends in multi-year contracts, with a focus on three-year deals. CFO Chris Finn quantified this, noting 72% of contract value is now multi-year, an 8-point increase YoY. Swan also stated that while the sales force is still growing, 75% of reps are tenured, and attrition is aligned with expectations.

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    Anja Soderstrom's questions to Forrester Research Inc (FORR) leadership • Q1 2025

    Question

    Anja Soderstrom sought confirmation that sales cycles were lengthening despite an expanding pipeline. She also asked about the status of the two large events scheduled for the second quarter and which industry sectors were proving most challenging.

    Answer

    CSO Nate Swan confirmed that deal closure times have extended by 10-12 days due to increased client scrutiny. CPO Carrie Johnson (referred to as Carrie) reported that the upcoming CX events in Europe and North America are shaping up well, with strong audience growth for the North America event. Nate Swan and CEO George Colony identified manufacturing, financial services, and retail as challenging sectors, with tariff impacts felt most in Asia and Europe.

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    Anja Soderstrom's questions to Forrester Research Inc (FORR) leadership • Q4 2024

    Question

    Anja Soderstrom from Sidoti & Company asked for more details on the sales challenges in India. She also questioned the strategies being used to improve sales to C-level executives at larger customers and how new product releases are driving customer engagement.

    Answer

    CEO George Colony characterized the issues in India as a one-time Q4 execution miss with smaller vendors, not a long-term market problem. He explained that to reach the C-suite, the company is using its 'FAST' sales methodology and has seen 30% growth in early renewals when senior executives are engaged. Chief Product Officer Carrie Johnson added that new offerings like the flexible Reprints product and interactive tools within Forrester Decisions are designed to increase value and personalization for clients.

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    Anja Soderstrom's questions to Forrester Research Inc (FORR) leadership • Q3 2024

    Question

    Anja Soderstrom inquired about the implications of the revised contract value guidance on revenue growth for 2025. She also asked for a timeline on when the company will finish shedding smaller clients and see client count increase, and questioned the current readiness and training status of the sales team.

    Answer

    CFO Chris Finn stated that while a formal 2025 outlook is pending, he expects CV to stabilize and grow, leading to improved results from 2024's double-digit declines, but not 'significant material growth.' Chief Sales Officer Nate Swan indicated the negative impact from shedding smaller clients would lessen in 2025. He also confirmed the sales team has completed the heavy lifting on new methodology training and is now in a phase of continuous development and reinforcement, with the team responding well to the changes.

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    Anja Soderstrom's questions to InterDigital Inc (IDCC) leadership

    Anja Soderstrom's questions to InterDigital Inc (IDCC) leadership • Q2 2025

    Question

    Anja Soderstrom of Sidoti & Company inquired about the future tax rate following new revenue contributions, potential impacts from proposed IP tariffs, and whether the updated full-year guidance assumes additional catch-up payments.

    Answer

    CFO Richard J. Brezski stated that the long-term tax rate is expected to be in the mid-to-high teens but is still under evaluation. CEO Liren Chen commented on the potential IP tariff proposal, noting they are monitoring the situation but lack specific details. Brezski confirmed the updated guidance uses a 'multi-path approach' that includes potential opportunities for catch-up revenue.

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    Anja Soderstrom's questions to InterDigital Inc (IDCC) leadership • Q1 2025

    Question

    Anja Soderstrom from Sidoti & Company, LLC inquired about the timeline for the Samsung arbitration, the status of the Disney litigation, and the company's current view on pursuing inorganic growth opportunities.

    Answer

    President and CEO Liren Chen reported no new updates on the Samsung arbitration since the hearings concluded in October 2024 but remains confident in the case. He also confirmed that court dates for the Disney litigation are now set for Q4 2025 and early 2026. CFO Rich Brezski clarified that his mention of inorganic opportunities was a standard part of their capital allocation strategy and not a signal of any imminent M&A activity.

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    Anja Soderstrom's questions to InterDigital Inc (IDCC) leadership • Q4 2024

    Question

    Anja Soderstrom of Sidoti & Company inquired whether the company's 2025 guidance reflects a conservative approach similar to its initial 2024 outlook. She also asked about any change in sentiment from international counterparts due to the new U.S. administration.

    Answer

    President and CEO Liren Chen described the guidance process as a holistic view of all opportunities with associated probabilities and valuation ranges, which is updated as the year progresses. He did not characterize it as modest but as the company's best estimate. Regarding the new administration, Chen noted that Republicans have historically been strong on IP protection, which is generally positive, and that the company maintains strong relationships and expects continued support for its business model.

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    Anja Soderstrom's questions to InterDigital Inc (IDCC) leadership • Q3 2024

    Question

    Anja Soderstrom questioned how the addition of large OEMs like OPPO would affect the ratio of fixed-fee contracts within the smartphone revenue stream. She also asked about the expected tax rate going forward given the step-up in recurring revenue.

    Answer

    President and CEO Liren Chen confirmed that while specific terms of the OPPO agreement are confidential, the vast majority of InterDigital's large accounts are structured as fixed-fee contracts. CFO Rich Brezski addressed the tax question, stating that the revenue increase does not significantly alter their long-term outlook, with the cash tax rate expected to remain in the mid-to-high teens.

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    Anja Soderstrom's questions to Benchmark Electronics Inc (BHE) leadership

    Anja Soderstrom's questions to Benchmark Electronics Inc (BHE) leadership • Q2 2025

    Question

    Anja Soderstrom from Sidoti & Company asked for details on how Benchmark is achieving its inventory improvements. She also inquired about the strategy behind winning the 'competitive lift and shift' program in the Medical sector and sought an update on the commercial air market within the Aerospace & Defense segment.

    Answer

    CFO Bryan Schumaker and CEO Jeff Benck attributed inventory improvements to strong operational focus, disciplined processes, and system enhancements. EVP & CCO David Moezidis explained the Medical win resulted from a revamped go-to-market strategy featuring a proactive proposal team that brings creative solutions to customers. On Aerospace & Defense, CEO Jeff Benck noted that commercial air travel has stabilized with solid demand, and added that Benchmark has relatively less exposure to Boeing.

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    Anja Soderstrom's questions to Benchmark Electronics Inc (BHE) leadership • Q1 2025

    Question

    Anja Soderstrom of Sidoti asked if inventory levels in the Medical sector have normalized, questioned the current capacity utilization in North America, inquired about targets for the cash conversion cycle, and asked about the company's currency hedging practices.

    Answer

    CEO Jeff Benck confirmed the company believes medical OEM inventory has largely normalized, which supports the forecast for a second-half recovery. He also noted that Benchmark has significant available capacity in its North American footprint to accommodate reshoring. Regarding the cash conversion cycle, both CEO Jeff Benck and CFO Bryan Schumaker stated the goal is to improve inventory turns from 4 to over 5. Schumaker also explained that with 80% of revenue in USD, the company has natural hedges and also engages in active hedging for other currencies.

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    Anja Soderstrom's questions to Benchmark Electronics Inc (BHE) leadership • Q4 2024

    Question

    Anja Soderstrom inquired about the specific drivers of the expected weakness in the communications business through the first half of the year. She also asked about Benchmark's revenue exposure to Europe and the general trends in outsourcing.

    Answer

    CEO Jeff Benck attributed the weakness in the AC&C sector to two factors: a lull in the high-performance computing (HPC) space during a transition to a next-gen platform, and the ramp-up time required for a new product line with a communications customer. He stated that Europe accounts for just over 10% of revenue and has been softer, particularly in the industrial market. Benck affirmed that the overall outsourcing trend remains a tailwind for Benchmark, with a healthy pipeline of new opportunities.

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    Anja Soderstrom's questions to Sanmina Corp (SANM) leadership

    Anja Soderstrom's questions to Sanmina Corp (SANM) leadership • Q3 2025

    Question

    Anja Soderstrom from Sidoti & Company asked about the long-term operating margin expectations following the ZT acquisition, the progress of the India joint venture, and the potential impact of tariffs on the business and customer behavior.

    Answer

    Chairman & CEO Jure Sola stated that with the ZT acquisition, they are targeting operating margins greater than 6% with potential for upside. He described the India JV as an exciting project with significant expansion opportunities. EVP & CFO Jon Faust added that on tariffs, Sanmina's global footprint allows it to help customers regionalize supply chains for new programs, with costs typically passed through. He also noted the India JV is progressing well and is a key investment area for the company.

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    Anja Soderstrom's questions to Sanmina Corp (SANM) leadership • Q2 2025

    Question

    Anja Soderstrom asked about the primary end markets for recent new customer wins and the nature of the competitive environment. She also questioned the company's current worldwide capacity utilization and its ability to shift production if tariffs necessitate it.

    Answer

    Chairman and CEO Jure Sola explained that new customer wins are broad-based, with strength in energy, communications networks, cloud infrastructure, defense, and medical, where the company is expanding in Europe. He emphasized that Sanmina competes on technology, quality, flexibility, and total cost, positioning itself as a secure partner. Regarding capacity, Sola stated the company could increase output by an additional 30% by adding staff and some equipment, and is already adding capacity for new technologies. EVP and CFO Jon Faust reiterated that the company's agility, geographic footprint, and proactive customer outreach are key competitive advantages in navigating potential tariff impacts.

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    Anja Soderstrom's questions to Sanmina Corp (SANM) leadership • Q1 2025

    Question

    Anja Soderstrom asked which end markets are expected to be the primary drivers for the fiscal 2025 revenue target. She also inquired about the timeframe for achieving the long-term 6%+ operating margin goal and whether there have been any recent changes in the competitive landscape.

    Answer

    Jure Sola (executive) responded that growth in fiscal 2025 is expected to be broad-based, highlighting strength in Industrial & Energy and significant opportunities in Defense & Aerospace. Regarding the margin target, he suggested a revenue run rate above $9 billion would help achieve 6%+, while CFO Jonathan Faust noted they are making strategic OpEx investments for long-term growth. Jure Sola also commented that the competitive landscape shows more discipline.

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    Anja Soderstrom's questions to Sanmina Corp (SANM) leadership • Q4 2024

    Question

    Speaking on behalf of Anja Soderstrom, an analyst from Sidoti & Company inquired about the potential for further improvements in cash flow and its key drivers. They also asked how Sanmina is internally utilizing AI to enhance business operations and margins, and requested an update on the performance of the Reliance Industries joint venture in India.

    Answer

    EVP and CFO Jon Faust stated there is significant room for cash flow improvement, targeting inventory turns above 6x and reducing the cash conversion cycle from 68 days toward the historical mid-50s range. Chairman and CEO Jure Sola explained that Sanmina is integrating AI to improve manufacturing efficiencies and supply chain management. Regarding the India JV, Sola described the partnership with Reliance as very successful, ahead of plan, and a focus for major investment to support growth in the Indian market and for future exports.

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    Anja Soderstrom's questions to Plexus Corp (PLXS) leadership

    Anja Soderstrom's questions to Plexus Corp (PLXS) leadership • Q3 2025

    Question

    Anja Soderstrom of Sidoti & Company inquired about the expected margin profile of the new Malaysia facility once fully ramped, the current impact of tariffs on customer orders, and whether the company still expects cash cycle days to decline into the low sixties.

    Answer

    CEO Todd Kelsey confirmed that Plexus's Malaysia sites generally perform very well, implying a strong margin profile. He also stated there has been little change regarding tariffs, with customers in a 'wait-and-see' mode and minimal impact on demand. EVP & CFO Patrick Jermain affirmed that they are guiding for cash cycle days in the mid-60s for Q4 and see a realistic path to the mid-to-low 60s in fiscal 2026 through ongoing inventory initiatives.

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    Anja Soderstrom's questions to Plexus Corp (PLXS) leadership • Q2 2025

    Question

    Anja Soderstrom asked for elaboration on the diversification efforts behind the strong engineering wins, inquired where Plexus is taking market share from, and asked about the company's currency hedging strategy.

    Answer

    CEO Todd Kelsey explained that engineering wins have successfully diversified beyond healthcare into all market sectors, highlighted by a record win in A&D. Executive Shawn Harrison noted that market share gains are broad-based, stemming from strong execution and relationships. CEO Todd Kelsey confirmed that the company hedges a portion of its non-U.S. currency exposure to manage volatility.

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    Anja Soderstrom's questions to Plexus Corp (PLXS) leadership • Q1 2025

    Question

    Anja Soderstrom asked for confirmation of the full-year capital expenditure guidance and the outlook for 2026, and also inquired about the gross margin trajectory for the second half of the year following the seasonal dip in Q2.

    Answer

    EVP and CFO Patrick Jermain confirmed the fiscal 2025 CapEx guidance of $120M-$150M, driven partly by a new facility in Malaysia, and expects spending to normalize in fiscal 2026. He also stated that while Q2 gross margin will be impacted by seasonal compensation costs, productivity improvements should allow it to return to around the 10% level for the remainder of the fiscal year.

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    Anja Soderstrom's questions to Plexus Corp (PLXS) leadership • Q4 2024

    Question

    Anja Soderstrom asked for details on the Penang, Malaysia expansion, including its scale, product focus, and completion timeline. She also inquired about the motivation for attaining the NQA-1 nuclear energy compliance and its expected impact.

    Answer

    President and CEO Todd Kelsey stated the new facility in Malaysia will be the sixth on the campus, supporting all sectors with a focus on SemiCap and Healthcare/Life Sciences, with first shipments expected late in the fiscal year. He explained the nuclear compliance was driven by a specific customer award. EVP and CFO Patrick Jermain added that the rigorous certification has already attracted interest from other customers.

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    Anja Soderstrom's questions to Daktronics Inc (DAKT) leadership

    Anja Soderstrom's questions to Daktronics Inc (DAKT) leadership • Q4 2025

    Question

    Anja Soderstrom asked about the primary drivers for the recent strength in the international business, current order and backlog trends for the first quarter, whether to expect more one-time fees in fiscal 2026, and for clarification on the new $10 million share buyback program.

    Answer

    Howard Atkins, Acting CFO, explained that strong international orders late in fiscal 2025 will primarily convert to revenue in fiscal 2026, creating a positive tailwind. He noted that early Q1 business is 'still brisk' and confirmed that consulting fees for last year's major transformation projects are complete and not expected to recur. He also acknowledged there was a balance on the previous buyback program and more commentary would be provided.

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    Anja Soderstrom's questions to Daktronics Inc (DAKT) leadership • Q3 2025

    Question

    Anja Soderstrom asked for an update on the International segment, questioning if the recent pickup in activity was continuing into the fourth quarter and which specific regions were performing best. She also sought clarification on the planned $40 million in annual product development spending and requested more details on the company's supply chain renegotiation efforts.

    Answer

    Reece A. Kurtenbach (Chairman, President and CEO) confirmed that the conversion rate of quotes to orders in the International segment has been increasing and is expected to continue, particularly in Europe, the Middle East, and Australia. He also noted that digital transformation initiatives are expected to create efficiencies in product development. Sheila Anderson (EVP, CFO, Treasurer & Secretary) added that a significant portion of the development spend is for control systems and that the company is taking a more aggressive approach to renegotiating terms with its top suppliers to maximize value.

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    Anja Soderstrom's questions to Daktronics Inc (DAKT) leadership • Q2 2025

    Question

    Anja Soderstrom inquired about the revenue outlook for the second half of fiscal 2025, gross margin sustainability, the impact of the e-sales channel, the duration of consulting fees, and the potential effects of new administration tariffs.

    Answer

    Reece Kurtenbach, CEO, explained that while large project business can be lumpy, he expects full-year orders and sales to be on par with or exceed the prior year. He noted Q3 margins are more impacted by volume than price. He detailed that the e-sales channel for standard products should lower selling costs and improve efficiency. Kurtenbach also clarified that business transformation costs are mostly contained to the current year, but digital transformation initiatives and related costs will extend into fiscal 2026 and 2027. Regarding tariffs, he acknowledged the potential impact on sourced components but noted competitors face similar pressures, highlighting Daktronics' U.S. manufacturing as an advantage.

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    Anja Soderstrom's questions to Daktronics Inc (DAKT) leadership • Q1 2025

    Question

    Anja Soderstrom asked about the expected normalization timeline for the backlog, whether any Q1 revenue was pulled in from Q2, the potential for expanding operating margin targets, and the current competitive environment.

    Answer

    CEO Reece Kurtenbach explained that the backlog is returning to a normal seasonal cycle and the unusually high levels from past supply chain issues have been resolved. He confirmed no significant revenue was pulled from Q2 into Q1. Regarding margins, Kurtenbach stated that management believes there is room for both top-line and operating margin growth. He also described the competitive landscape as active, emphasizing Daktronics' value proposition in system control, features, and full-service support.

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    Anja Soderstrom's questions to PAR Technology Corp (PAR) leadership

    Anja Soderstrom's questions to PAR Technology Corp (PAR) leadership • Q4 2024

    Question

    Anja Soderstrom inquired about the expansion of the Tier 1 customer pipeline and the company's capacity to onboard another major customer, given the expanded rollout with Burger King.

    Answer

    CEO and President Savneet Singh confirmed the Tier 1 pipeline remains strong and that the company has the capacity for new rollouts. He explained that the Burger King expansion involves a new module, which doesn't impact the core POS implementation pipeline, and that the company is investing heavily in its rollout capabilities to ensure success and pull revenue forward.

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    Anja Soderstrom's questions to PAR Technology Corp (PAR) leadership • Q3 2024

    Question

    Anja Soderstrom asked for commentary on the current M&A environment and any changes the company is seeing.

    Answer

    CEO Savneet Singh characterized the M&A environment as "very robust," with more companies for sale than historically. He noted that PAR's focus is on bolt-on, tuck-in modules. He observed that while some large transactions have occurred in the market, he expects an increase in smaller and medium-sized transactions to be next.

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    Anja Soderstrom's questions to A10 Networks Inc (ATEN) leadership

    Anja Soderstrom's questions to A10 Networks Inc (ATEN) leadership • Q4 2024

    Question

    Anja Soderstrom inquired about the typical time lag for product revenue growth to translate into services revenue growth. She also asked for the reason behind the softer gross margin for products in the quarter and whether the company is affected by tariffs.

    Answer

    CFO Brian Becker explained that with an average contract term of two years, product sales growth is a leading indicator for future services growth. He attributed the softer product gross margin to geographic and product mix. Regarding tariffs, Becker stated that while A10 is not impervious, they are anticipated headwinds that the company plans for and actively manages with countermeasures. CEO Dhrupad Trivedi added that the company has no market exposure in China.

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    Anja Soderstrom's questions to A10 Networks Inc (ATEN) leadership • Q3 2024

    Question

    Anja Soderstrom asked if the new solutions resulting from increased R&D would be an upsell and how they might impact the company's margin profile. She also questioned whether A10 might become more aggressive with its share buyback program given its strong cash position.

    Answer

    Executive Dhrupad Trivedi responded that the new solutions are intended to expand the product categories sold to customers and that the company remains confident in maintaining its 80% to 82% gross margin target. Regarding buybacks, Executive Brian Becker and Trivedi reiterated that while reinvesting in the business is the top priority, share repurchases are an important part of their capital strategy, balanced against organic and strategic investments and subject to market constraints.

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