Allot (ALLT) Stock News

Allot Ltd (NASDAQ: ALLT) announces that Proximus, under its Tango brand, has launched cybersecurity services using Allot NetworkSecure for mobile customers in Luxembourg. NetworkSecure provides a zero-touch, clientless operation that protects users from malware, phishing, and ransomware without requiring app installation. Luis Camara, CMO of Tango, emphasized the ease of use and enhanced customer trust. Allot's CMO, Vered Zur, noted the growing adoption of NetworkSecure among service providers to enhance customer cyber safety.

Allot Ltd (NASDAQ: ALLT) announced that Ethio Telecom has chosen its SmartTraffic QoE solution to enhance network performance for mobile users in Ethiopia. This solution offers advanced network traffic analytics and effective bandwidth management, aimed at improving customer experience. By prioritizing critical applications, it ensures that heavy users do not disrupt overall service quality. Allot aims to leverage its successful deployments in Africa to support Ethio Telecom in rolling out competitive service plans.

Allot Ltd. (NASDAQ: ALLT) has partnered with Singtel to provide cybersecurity services tailored for Small and Medium Sized Business (SMB) customers. The collaboration will utilize Allot's NetworkSecure solution, which offers clientless operation and protection against cybersecurity threats such as malware, viruses, and ransomware. This partnership aims to address the cybersecurity needs of SMBs, allowing them to benefit from robust security services without requiring IT expertise. Additionally, NetworkSecure supports large-scale deployments, suitable for extensive networks.

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.