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Alarum Technologies announced record financial results for Q1 2024. Revenues soared to $8.4 million, marking a 47% increase YoY. IFRS gross margin rose to 78% compared to 66% in the previous year. IFRS net profit reached $1.4 million, while non-IFRS net profit surged to $2.8 million. The company recorded an EPS of $0.23 and $0.45 respectively. Adjusted EBITDA hit a record $3.2 million, up from $0.1 million a year ago. Subsidiary NetNut's revenues rose 139% YoY, driven by new customer acquisitions and a high Net Retention Rate of 1.66. The company introduced innovative products like the 'Website Unblocker' and 'AI Data Collector,' aimed at enhancing web data collection capabilities. Alarum's financial health improved with shareholders' equity rising to $17.1 million and cash equivalents reaching $15.1 million.
Alarum Technologies (Nasdaq, TASE: ALAR) will release its financial results for the first quarter of 2024 on May 21, 2024. The Company will host a conference call on the same day at 08:30 a.m. Eastern Time. Mr. Shachar Daniel, CEO, and Mr. Shai Avnit, CFO, will discuss the financial results followed by a Q&A session. Participants can join the call by dialing the provided numbers.
