Welcome to our dedicated page for Allot news (Ticker: ALLT), a resource for investors and traders seeking the latest updates and insights on Allot stock.
Allot Ltd. reports developments around Security-as-a-Service, network intelligence and converged cybersecurity solutions for communications service providers and enterprises. Company updates commonly address network-native cybersecurity services, network and application analytics, traffic control and shaping, and platforms used across mobile, fixed and cloud service-provider environments.
Recurring news for ALLT includes quarterly and annual financial results, SECaaS performance trends, conference-call announcements, investor-conference participation and annual Form 20-F filing updates. The company is listed on Nasdaq and the Tel Aviv Stock Exchange under the symbol ALLT.
Allot Ltd. (NASDAQ: ALLT) reported first quarter 2022 revenues of $31.9 million, a 2% increase year-over-year, with a gross margin of 70% on a non-GAAP basis. Despite this growth, the company faced challenges with a GAAP operating loss of $5.7 million and a net loss of $6.1 million. For 2022, Allot expects revenues between $135-140 million despite delays in service launches and adverse market conditions. However, they anticipate significant growth in ARR and recurring security deals.
Allot Ltd (NASDAQ: ALLT) announced the appointment of Raffi Kesten as an independent director, effective May 12, 2022. Kesten, with over 30 years of experience in tech and cybersecurity, will replace Ronnie Kenneth, who is stepping down to focus on his impact fund. Additionally, Allot has entered a Cooperation Agreement with Outerbridge Capital and QVT Financial, which collectively own 7.5% of Allot's shares, supporting the nomination of Kesten at upcoming shareholder meetings. Outerbridge intends to enhance shareholder value through proactive engagement.
Allot Ltd. (NASDAQ: ALLT) announced it will host a conference call on May 17, 2022, at 8:30 AM ET to discuss its first quarter 2022 results. The unaudited financial results will be released before the call. Investors can access the call by dialing the provided numbers or through a live webcast on Allot's website. Allot provides innovative network intelligence and security solutions for service providers and enterprises, serving over 500 providers and 1,000 enterprises worldwide. It boasts over 20 million subscribers utilizing its network security services.
Allot Ltd (NASDAQ: ALLT) has released the Global Consumer Security Survey, indicating a significant consumer demand for mobile cybersecurity. The survey reveals that 88% of consumers prioritize mobile security, while only 49% consider mobile entertainment a priority. Key insights show 62% expect secure connectivity from mobile providers, 75% trust them for safeguarding against cyber threats, and over 90% are willing to pay for cyber protection. These findings suggest a need for mobile operators to integrate cybersecurity into their core offerings.
Allot Ltd. (NASDAQ: ALLT) reported Q4 2021 revenues of $41.0 million, a 5% increase year-over-year, with full-year revenues reaching $145.6 million, up 7% from 2020. The company experienced a GAAP operating loss of $3.7 million in Q4 2021, worsening from a $1.2 million loss in Q4 2020. Total ARR grew significantly by 39% to $47 million. For 2022, management projects revenues between $147-153 million and an increase in recurring security revenue, forecasting ARR to reach between $61-$73 million, indicating over 40% growth year-over-year.
Allot Ltd. (NASDAQ: ALLT) announced a $40 million private financing deal with Lynrock Lake Master Fund LP, set to close on February 17, 2022. The financing comprises a convertible promissory note maturing on February 14, 2025, with optional extensions. The initial conversion price is set at $10.30 per share. Proceeds will support Allot's security-as-a-service strategy and general corporate purposes. Lynrock Lake retains a 19.99% ownership limit on conversions, which may increase to 24.99% with notice.
Allot Ltd (NASDAQ: ALLT) has partnered with a tier-1 telecom operator in Southeast Asia to enhance cybersecurity for its Small and Medium-Sized Business (SMB) clients. This collaboration, finalized in late 2021, will see the operator and Allot share revenues from monthly service fees for Allot Secure solutions. The offering includes NetworkSecure and EndpointSecure, delivering comprehensive cybersecurity protection without requiring application installation by users. This agreement reinforces the operator's commitment to digitalization and cybersecurity for SMBs.
Allot Ltd (NASDAQ: ALLT) announced a strategic collaboration with Amazon Web Services (AWS) on Feb. 9, 2022. This partnership aims to enable communication service providers (CSPs) to deploy Allot's cloud-native applications on AWS, enhancing their 5G network capabilities. As an AWS Independent Software Vendor, Allot is focused on streamlining CSPs' 5G cloud deployments, improving efficiency, reducing costs, and increasing security. Allot has already implemented a solution for a North American CSP using AWS's platform.
Allot Ltd (NASDAQ: ALLT) has secured a partnership with a significant North American carrier to provide cybersecurity services for 4G and 5G consumers. This agreement, finalized toward the end of 2021, will see both parties sharing recurring revenue from monthly service fees. The NetworkSecure solution allows for clientless operation and protects users against cyber threats such as malware and phishing attacks. This milestone positions the carrier as a leader in offering network-based security services without requiring additional installation by customers.
Allot Ltd. (NASDAQ: ALLT) announced a conference call to discuss its fourth quarter and full year 2021 earnings on February 15, 2022, at 8:30 AM ET. The unaudited financial results will be released before the call. Allot specializes in network intelligence and security-as-a-service solutions for communication service providers and enterprises, with over 500 providers and 20 million subscribers using their services globally.