Revenue Growth
Revenue grew nearly 12% year-over-year for the third quarter, with the Americas region showing a 25% increase on a trailing 12-month basis, driven by AI infrastructure investment.
Profitability Metrics
EBITDA margins expanded year-over-year from 26.7% to 29.3%, while non-GAAP operating margin expanded from 22.6% to 24.7%.
Product Revenue Increase
Product revenue grew 17% year-over-year, indicating strong demand and serving as a leading indicator of future revenue.
Security-Led Revenue Growth
Security-led revenue exceeded the long-term target, now accounting for over 65% of total revenue, driven by customer demand for integrated security solutions.
Strong Cash Flow
Generated $22.8 million in cash flow from operations in Q3, with cash and investments totaling $371 million at the end of the quarter.