Allot Ltd Stock Price, News & Analysis

Allot Ltd (NASDAQ: ALLT) announced that its partner, Far EasTone, has successfully launched the Guardian Network service based on Allot's NetworkSecure, garnering nearly 200,000 subscribers within three months. Announced at the Mobile World Congress in Barcelona, this cybersecurity service detected and blocked 2.7 billion threats during this short period, benefiting approximately 30% of its subscribers. The service is designed for easy operation without the need for application installation, ensuring user-friendly interface and brand loyalty through tailored alerts and reporting.

Allot Ltd. (NASDAQ: ALLT) has reported its fourth quarter and full year 2022 financial results, revealing Q4 revenues of $33.0 million, a 19% decline from Q4 2021's $41.0 million. For the full year, revenues totaled $122.7 million, down 16% year-over-year. While SECaaS revenue grew 79% in Q4 and 73% for the year, the company's GAAP net loss was $6.7 million in Q4 and $32.0 million for 2022. The management anticipates 2023 revenues between $110 million and $120 million but expects operating losses to continue, predicting profitability in 2024 as they transition to a recurring revenue model.

Allot Ltd. (NASDAQ: ALLT) announced a conference call to discuss its Q4 and full year 2022 financial results on February 28, 2023, at 8:30 AM ET. The unaudited results will be published before the call. Investors can dial US: 1-888-642-5032, UK: 0-800-917-5108, or Israel: +972-3-918-0610 to access the call. A live webcast will be available on the Allot website, with an archived version to follow. Allot specializes in network intelligence and security-as-a-service solutions, with over 500 service providers and 1000 enterprises using their platforms worldwide. More than 20 million subscribers rely on their security services globally.

Allot Ltd (NASDAQ: ALLT) announced that Far EasTone Telecommunications (FET) in Taiwan has launched cybersecurity threat protection services using Allot's NetworkSecure solution. This partnership allows FET to offer protection from various cyber threats without requiring application installation, enhancing customer loyalty. The service will generate recurring revenue for both companies from monthly fees. Allot aims to strengthen its presence in the cybersecurity market by collaborating with FET and CommVerge for local support and solution integration.

Allot Ltd. (NASDAQ: ALLT) reported its Q3 2022 financial results with revenues of $25.0 million, down 34% from $38.2 million in Q3 2021. The GAAP net loss reached $12.9 million or $0.35 per share, compared to a loss of $3.1 million a year earlier. Despite challenges, management maintains its 2022 revenue guidance of $125-$130 million, leaning towards the lower end. The company anticipates an increase in recurring security deals and aims for profitability by 2024.

Allot Ltd. (NASDAQ: ALLT) announced the nomination of Ms. Cynthia L. Paul to its Board of Directors, pending shareholder approval at the Annual Meeting on December 14, 2022. Ms. Paul has over 25 years of experience, currently serving as CEO and CIO of Lynrock Lake LP, with a history at Soros Fund Management and other prominent roles. Her extensive background in investment and technology is expected to enhance Allot's governance and strategic direction. The company continues to provide innovative network intelligence and security solutions globally.

Allot Ltd (NASDAQ: ALLT) announced that Verizon has chosen its NetworkSecure solution to provide cybersecurity protection for some of its wireless and fixed wireless Small and Medium Business (SMB) and IoT customers. Allot will receive a monthly fee based on customer usage of the service, which offers protection against various cyber threats including malware and phishing attacks. This partnership signifies a move towards enhancing cybersecurity for Verizon’s customer segments while leveraging Allot’s clientless, zero-touch operation approach.

Allot Ltd. (NASDAQ: ALLT) announced a conference call on November 15, 2022, at 8:30 AM ET to discuss its third quarter 2022 results. The unaudited financial results will be released before the call. Investors can join via provided dial-in numbers or a live webcast on Allot's investor website. Allot specializes in innovative network intelligence and security solutions for communication service providers and enterprises, servicing over 500 service providers and 1,000 enterprises globally, with its security solutions reaching over 20 million subscribers.