What happened

A10 Networks (NYSE:ATEN) stock is getting crushed today, down by 19% as of 11:40 a.m. EDT, after the company announced preliminary second-quarter results.

So what

Revenue in the second quarter should come in at $52.5 million to $53.5 million, which is well below the company's prior guidance of $62 million to $64 million in sales. A10 Networks expects to post a non-GAAP net loss of $0.05 to $0.06 per share, also below prior guidance of an adjusted profit of $0.01 to $0.03 per share.

Servers in a data center

Image source: Getty Images.

Analysts were expecting the company to post revenue of $62.8 million and non-GAAP earnings per share of $0.02.

Now what

"We are disappointed with our preliminary results. Revenue came in below our guidance as a number of opportunities in our pipeline did not close primarily in North America and to a lesser degree in Japan. Key deals remain in our pipeline and we are diligently working to improve our execution," said CEO Lee Chen in a statement. "We remain confident that our investments in security and cloud will serve as a strong foundation to penetrate these faster-growing segments of our market."

A10 will release full results on July 27.

Evan Niu, CFA has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.