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Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a leading global provider of innovative network intelligence and security solutions designed to enhance the value to service providers and enterprises worldwide. With a customer base spanning Europe, Asia, the Americas, the Middle East, and Africa, Allot's solutions are widely recognized for their effectiveness in network and application analytics, traffic control and shaping, as well as network-based security services. Their multi-service platforms have been deployed by over 500 mobile, fixed, and cloud service providers and more than 1,000 enterprises globally.
Allot's industry-leading network-based Security-as-a-Service (SECaaS) has already achieved over 50% penetration among some service providers and is utilized by millions of subscribers across Europe. This broad adoption underscores Allot's reputation for delivering high-value security solutions that are easy to integrate and manage. Recently, Allot announced an increase in SECaaS revenues by 41.5% year-over-year, reflecting the growing demand for their services.
Financially, Allot's second quarter of 2024 showed revenues of $21.9 million, a 4% year-over-year increase. Their gross margin improved significantly, and they reported a net loss reduction by 77.9% on a GAAP basis. Allot's focus on transforming its business towards a recurring revenue model aims to drive sustainable profitable growth. Despite some financial challenges, such as credit loss provisions and macroeconomic impacts, Allot is committed to achieving profitability in 2024.
Allot’s continuous innovation has not gone unnoticed, having recently received the 2024 Customer Value Leader award from Frost & Sullivan for their contributions to CSP security. This award highlights Allot's strengths in innovation, customer service, and market performance.
For the latest updates and detailed financial results, visit their [investor page](http://investors.allot.com/). For more information on their products and services, visit [Allot's website](http://www.allot.com/).
Allot (NASDAQ: ALLT) announced its Q2 2024 financial results, showing stable revenues of $22.2 million compared to the previous quarter. Key highlights include:
- SECaaS revenues grew 54% year-over-year to $3.7 million
- Operating loss improved significantly, declining 84% to $3.4 million (GAAP) and 95% to $1 million (non-GAAP)
- Positive operating cash flow of $1.2 million, first time in three years
- Net cash increased by $0.6 million during the quarter
For H2 2024, Allot expects non-GAAP operating profit around breakeven and stable net cash position. Full-year SECaaS revenue and ARR are projected to grow around 50% year-over-year. CEO Eyal Harari highlighted progress in operational efficiency and continued investment in SECaaS as a long-term growth engine.
Allot (NASDAQ: ALLT, TASE: ALLT), a leading provider of network intelligence and security-as-a-service solutions, has announced its upcoming second quarter 2024 earnings release and conference call. The event is scheduled for Tuesday, August 27, 2024, at 9:00AM ET (2:00PM UK, 4:00PM Israel). Unaudited financial results will be published prior to the call.
Investors can access the conference call via phone (US: 1-888-642-5032, UK: 0-800-917-5108, Israel: +972-3-918-0610) or through a live webcast on the Allot website. The webcast will be archived for future reference. Allot serves over 500 mobile, fixed, and cloud service providers, as well as more than 1000 enterprises globally with its multi-service platforms.
Allot (NASDAQ: ALLT) announced its unaudited Q1 2024 financial results. The company reported a 4% year-over-year revenue increase to $21.9 million. Gross margins improved to 69.0% on a GAAP basis and 70.4% non-GAAP. SECaaS revenues rose 51% to $3.4 million, with an ARR of $13.7 million. Net loss decreased significantly, improving by 77.9% on a GAAP basis to $2.5 million, and by 88.8% on a non-GAAP basis to $0.9 million. The company expects to break even in non-GAAP operating profit and net cash flow for the full year 2024. CEO Eyal Harari emphasized the company's efforts to align operating costs and drive profitability while investing in long-term growth through SECaaS.
Allot (NASDAQ: ALLT, TASE: ALLT) announces the appointment of Liat Nahum as the new Chief Financial Officer, effective July 1, 2024. Nahum brings over two decades of financial and international management experience from top technology companies. She has held leadership roles at Amdocs and Taboola Inc., both listed on NASDAQ. Allot's CEO, Eyal Harari, expressed confidence in Nahum’s ability to drive the company's financial strategy and business success. Nahum is a CPA with a B.A. in Finance and Accounting from the University of Haifa and an M.B.A. in Accounting and Business Management from the Ruppin Academic Center.
Allot (NASDAQ: ALLT, TASE: ALLT) will release its first quarter 2024 earnings on May 29, 2024, and host a conference call to discuss the results. The company is a global provider of network intelligence and security solutions for communication service providers and enterprises, with over 500 mobile, fixed, and cloud service providers as clients. Allot's innovative solutions are used for network and application analytics, traffic control, network-based security services, and more.
Allot announced the appointment of Eyal Harari as its new Chief Executive Officer, replacing Mr. Erez Antebi. Mr. Harari brings vast experience and skills in areas synergistic to Allot's business. This change reflects the company's commitment to growth and innovation.
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