Allot Announces Fourth Quarter 2024 Financial Results
Allot (NASDAQ: ALLT) reported strong Q4 2024 financial results, marking a key inflection point in its turnaround process with renewed revenue growth and a return to profitability. Q4 revenues reached $24.9 million, up 2% year-over-year and 7% sequentially. The company's Security as a Service (SECaaS) revenues grew impressively by 49% year-over-year to $4.8 million, with December 2024 SECaaS ARR increasing 43% to $18.2 million.
Q4 non-GAAP gross margin improved significantly to 69.7% from 51.7% in Q4 2023. The company achieved a non-GAAP operating profit of $1.8 million and GAAP operating income of $0.3 million, compared to losses in the previous year. Q4 generated positive operating cash flow of $4.1 million.
For full-year 2024, Allot reported revenues of $92.2 million, a 1% decrease from 2023, but achieved non-GAAP net income of $1.6 million ($0.04 per diluted share) compared to a loss in 2023. CEO Eyal Harari highlighted new partnerships with Verizon Business, Vodafone, O2, and MEO as evidence of the company's security-first strategy gaining traction.
Allot (NASDAQ: ALLT) ha riportato risultati finanziari solidi per il quarto trimestre del 2024, segnando un punto di svolta chiave nel suo processo di recupero con una rinnovata crescita dei ricavi e un ritorno alla redditività. I ricavi del quarto trimestre hanno raggiunto 24,9 milioni di dollari, in aumento del 2% rispetto all'anno precedente e del 7% rispetto al trimestre precedente. I ricavi dell'azienda da Security as a Service (SECaaS) sono cresciuti in modo impressionante del 49% rispetto all'anno precedente, raggiungendo i 4,8 milioni di dollari, con un ARR SECaaS di dicembre 2024 che è aumentato del 43% a 18,2 milioni di dollari.
Il margine lordo non-GAAP del quarto trimestre è migliorato significativamente al 69,7% rispetto al 51,7% del quarto trimestre del 2023. L'azienda ha ottenuto un profitto operativo non-GAAP di 1,8 milioni di dollari e un reddito operativo GAAP di 0,3 milioni di dollari, rispetto a perdite nell'anno precedente. Il quarto trimestre ha generato un flusso di cassa operativo positivo di 4,1 milioni di dollari.
Per l'intero anno 2024, Allot ha riportato ricavi di 92,2 milioni di dollari, con una diminuzione dell'1% rispetto al 2023, ma ha raggiunto un reddito netto non-GAAP di 1,6 milioni di dollari (0,04 dollari per azione diluita) rispetto a una perdita nel 2023. Il CEO Eyal Harari ha evidenziato nuove partnership con Verizon Business, Vodafone, O2 e MEO come prova della strategia incentrata sulla sicurezza dell'azienda che sta guadagnando slancio.
Allot (NASDAQ: ALLT) informó resultados financieros sólidos para el cuarto trimestre de 2024, marcando un punto de inflexión clave en su proceso de recuperación con un renovado crecimiento de ingresos y un regreso a la rentabilidad. Los ingresos del cuarto trimestre alcanzaron 24,9 millones de dólares, un aumento del 2% interanual y del 7% secuencialmente. Los ingresos de la empresa por Security as a Service (SECaaS) crecieron de manera impresionante un 49% interanual, alcanzando los 4,8 millones de dólares, con un ARR SECaaS de diciembre de 2024 que aumentó un 43% a 18,2 millones de dólares.
El margen bruto no-GAAP del cuarto trimestre mejoró significativamente al 69,7% desde el 51,7% en el cuarto trimestre de 2023. La empresa logró un beneficio operativo no-GAAP de 1,8 millones de dólares y un ingreso operativo GAAP de 0,3 millones de dólares, en comparación con pérdidas en el año anterior. El cuarto trimestre generó un flujo de efectivo operativo positivo de 4,1 millones de dólares.
Para el año completo 2024, Allot reportó ingresos de 92,2 millones de dólares, una disminución del 1% respecto a 2023, pero logró un ingreso neto no-GAAP de 1,6 millones de dólares (0,04 dólares por acción diluida) en comparación con una pérdida en 2023. El CEO Eyal Harari destacó nuevas asociaciones con Verizon Business, Vodafone, O2 y MEO como evidencia de que la estrategia centrada en la seguridad de la empresa está ganando impulso.
Allot (NASDAQ: ALLT)는 2024년 4분기 강력한 재무 결과를 보고하여, 수익 성장의 재개와 수익성 회복을 통해 전환 과정의 중요한 전환점을 나타냈습니다. 4분기 수익은 2490만 달러에 달해, 전년 대비 2% 및 전분기 대비 7% 증가했습니다. 회사의 Security as a Service (SECaaS) 수익은 전년 대비 49% 증가하여 480만 달러에 달했으며, 2024년 12월 SECaaS ARR은 43% 증가하여 1820만 달러에 도달했습니다.
4분기 비-GAAP 총 마진은 2023년 4분기의 51.7%에서 69.7%로 크게 개선되었습니다. 회사는 비-GAAP 운영 이익 180만 달러와 GAAP 운영 수익 30만 달러를 달성했으며, 이는 전년도 손실과 비교됩니다. 4분기에는 410만 달러의 긍정적인 운영 현금 흐름이 발생했습니다.
2024년 전체 연도에 대해 Allot는 9220만 달러의 수익을 보고했으며, 이는 2023년 대비 1% 감소했지만, 2023년의 손실과 비교하여 비-GAAP 순이익 160만 달러(희석 주당 0.04달러)를 달성했습니다. CEO Eyal Harari는 Verizon Business, Vodafone, O2 및 MEO와의 새로운 파트너십을 회사의 보안 우선 전략이 힘을 얻고 있다는 증거로 강조했습니다.
Allot (NASDAQ: ALLT) a rapporté des résultats financiers solides pour le quatrième trimestre 2024, marquant un tournant clé dans son processus de redressement avec une croissance renouvelée des revenus et un retour à la rentabilité. Les revenus du quatrième trimestre ont atteint 24,9 millions de dollars, en hausse de 2 % par rapport à l'année précédente et de 7 % par rapport au trimestre précédent. Les revenus de l'entreprise provenant de Security as a Service (SECaaS) ont connu une croissance impressionnante de 49 % par rapport à l'année précédente, atteignant 4,8 millions de dollars, avec un ARR SECaaS de décembre 2024 augmentant de 43 % à 18,2 millions de dollars.
La marge brute non-GAAP du quatrième trimestre s'est considérablement améliorée pour atteindre 69,7% contre 51,7 % au quatrième trimestre 2023. L'entreprise a réalisé un bénéfice opérationnel non-GAAP de 1,8 million de dollars et un revenu opérationnel GAAP de 0,3 million de dollars, par rapport à des pertes l'année précédente. Le quatrième trimestre a généré un flux de trésorerie d'exploitation positif de 4,1 millions de dollars.
Pour l'année complète 2024, Allot a rapporté des revenus de 92,2 millions de dollars, une diminution de 1 % par rapport à 2023, mais a réalisé un bénéfice net non-GAAP de 1,6 million de dollars (0,04 $ par action diluée) par rapport à une perte en 2023. Le PDG Eyal Harari a souligné de nouveaux partenariats avec Verizon Business, Vodafone, O2 et MEO comme preuve que la stratégie axée sur la sécurité de l'entreprise prend de l'ampleur.
Allot (NASDAQ: ALLT) berichtete über starke finanzielle Ergebnisse im vierten Quartal 2024, was einen entscheidenden Wendepunkt in ihrem Umstrukturierungsprozess darstellt, mit erneuten Umsatzwachstum und Rückkehr zur Rentabilität. Die Umsätze im vierten Quartal erreichten 24,9 Millionen Dollar, was einem Anstieg von 2% im Jahresvergleich und 7% im Vergleich zum Vorquartal entspricht. Die Umsätze des Unternehmens aus Security as a Service (SECaaS) wuchsen beeindruckend um 49% im Jahresvergleich auf 4,8 Millionen Dollar, wobei das SECaaS ARR im Dezember 2024 um 43% auf 18,2 Millionen Dollar anstieg.
Die non-GAAP Bruttomarge im vierten Quartal verbesserte sich erheblich auf 69,7% von 51,7% im vierten Quartal 2023. Das Unternehmen erzielte einen non-GAAP Betriebsertrag von 1,8 Millionen Dollar und einen GAAP Betriebsertrag von 0,3 Millionen Dollar, verglichen mit Verlusten im Vorjahr. Im vierten Quartal wurde ein positiver operativer Cashflow von 4,1 Millionen Dollar generiert.
Für das gesamte Jahr 2024 berichtete Allot von Umsätzen in Höhe von 92,2 Millionen Dollar, was einem Rückgang von 1% im Vergleich zu 2023 entspricht, jedoch wurde ein non-GAAP Nettogewinn von 1,6 Millionen Dollar (0,04 Dollar pro verwässerter Aktie) im Vergleich zu einem Verlust im Jahr 2023 erzielt. CEO Eyal Harari hob neue Partnerschaften mit Verizon Business, Vodafone, O2 und MEO als Beweis dafür hervor, dass die sicherheitsorientierte Strategie des Unternehmens an Fahrt gewinnt.
- Q4 revenues increased 2% year-over-year and 7% sequentially to $24.9 million
- SECaaS revenues grew 49% year-over-year to $4.8 million in Q4
- December 2024 SECaaS ARR reached $18.2 million, up 43% year-over-year
- Q4 non-GAAP gross margin improved to 69.7% from 51.7% in Q4 2023
- Achieved Q4 non-GAAP operating profit of $1.8 million vs. loss last year
- Generated $4.1 million in operating cash flow in Q4
- Full-year 2024 non-GAAP net income of $1.6 million vs. loss in 2023
- Signed new major agreement with Verizon Business
- Cash position improved to $58.8 million from $54.8 million year-over-year
- Full-year 2024 revenues decreased 1% to $92.2 million compared to 2023
Insights
Allot's Q4 2024 results mark a definitive inflection point in the company's turnaround strategy, with multiple metrics confirming the transition from restructuring to growth and profitability. The return to revenue growth (2% YoY to
The standout performer is Allot's Security-as-a-Service (SECaaS) segment, which surged
The profitability improvement is particularly striking. Non-GAAP gross margin expanded nearly
The
Strategically, Allot's partnerships with tier-1 telecommunications providers (Verizon Business, Vodafone, O2, MEO) represent significant validation of its security-first approach. These relationships create massive distribution channels for Allot's cybersecurity solutions, potentially accelerating SECaaS adoption as these providers roll out security offerings to their substantial customer bases.
For investors, this quarter suggests Allot has successfully navigated its business model transition toward recurring security revenue. With telecom providers increasingly emphasizing value-added security services to combat ARPU pressure, Allot is well-positioned to capitalize on this industry shift. The company's current
While execution risks remain, particularly around maintaining this growth trajectory and converting partnerships into substantial recurring revenue, Allot's Q4 results demonstrate that its turnaround strategy is delivering tangible financial improvements that should translate to shareholder value if sustained.
Strong Double-Digit SECaaS Growth and Significant Improvement in Profitability
HOD HASHARON,
Financial Highlights for the Fourth Quarter
- Revenues of
$24.9 million 2% year over year and7% sequentially, representing a return to revenue growth; - Security as a Service (SECaaS) revenues continued to grow strongly, increasing
49% year-over-year to$4.8 million - December 2024 SECaaS ARR* grew to
$18.2 million 43% year-over-year; - Non-GAAP gross margin was
69.7% , a strong improvement versus gross margin of51.7% in the fourth quarter of last year; - Non-GAAP operating profit was
$1.8 million $0.3 million - Generated strong positive operating cash flow in the quarter of
$4.1 million
Management Comment
Eyal Harari, CEO of Allot, commented, "We are very pleased to report solid fourth-quarter and full year 2024 results, demonstrating that Allot is at a key inflection point in its turnaround process. Our results show renewed revenue growth and a return to profitability, with growing positive cash flow generation. Our SECaaS growth engine continued its strong performance in 2024, with high double-digit growth rates in both revenues and ARR."
Continued Mr. Harari, "Our security-first strategy and renewed go-to-market focus are gaining strong traction and momentum. As we recently announced, we were very excited to sign a new major agreement with Verizon Business. We are very happy that the significant Verizon Business mobile customer base will have the opportunity to sign up for Allot's cybersecurity protection solution. This new agreement adds to the strong momentum that Allot has recently seen, including our announcements with Vodafone, O2 and MEO. These important partnerships illustrate our growing success and expand our potential for long-term recurring revenue."
Concluded Mr. Harari, "Looking ahead to 2025, we remain focused on advancing our strategy and executing on another year of double-digit SECaaS revenue and ARR growth, and improved profitability."
Fourth Quarter 2024 Financial Results Summary
Total revenues for the fourth quarter of 2024 were
Gross profit on a GAAP basis for the fourth quarter of 2024 was
Gross profit on a non-GAAP basis for the fourth quarter of 2024 was
Operating income on a GAAP basis for the fourth quarter of 2024 was
Operating income on a non-GAAP basis for the fourth quarter of 2024 was
Net income on a GAAP basis for the fourth quarter of 2024 was
Net income on a non-GAAP basis for the fourth quarter of 2024 was
Operating cash flow generated in the quarter was
Full Year 2024 Financial Results Summary
Total revenues for 2024 were
Gross profit on a GAAP basis for 2024 was
Gross profit on a non-GAAP basis for 2024 was
Net loss on a GAAP basis for 2024 was
Net income on a non-GAAP basis for 2024 was
Operating cash flow generated in 2024 was
Cash and cash equivalents, short-term bank deposits, short-term restricted deposits, and investments as of December 31, 2024, totaled
Conference Call & Webcast:
The Allot management team will host a conference call to discuss its fourth quarter and full year 2024 earnings results today, February 25, 2025 at 9:00 am ET, 4:00 pm
US: 1-888-642-5032,
A live webcast and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: http://investors.allot.com/index.cfm
About Allot
Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed, and cloud service providers and over 1,000 enterprises. Our industry-leading network-based security as a service solution is already used by many millions of subscribers globally. Allot. See. Control. Secure.
For more information, visit www.allot.com
Performance Metrics
* SECaaS ARR – measures the current annual recurring of SECaaS revenues, which is calculated based on estimated revenues for the month of December 2024 and multiplied by 12.
GAAP to Non-GAAP Reconciliation:
The difference between GAAP and non-GAAP revenues is related to the acquisitions made by the Company and represents revenues adjusted for the impact of the fair value adjustment to acquired deferred revenue related to purchase accounting. Non-GAAP net income is defined as GAAP net income after including deferred revenues related to the fair value adjustment resulting from purchase accounting and excluding stock-based compensation expenses, amortization of acquisition-related intangible assets, deferred tax asset adjustment and changes in taxes-related items.
These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results is provided in the accompanying Table 2. The Company provides these non-GAAP financial measures because it believes they present a better measure of the Company's core business and management uses the non-GAAP measures internally to evaluate the Company's ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company's operating performance.
Safe Harbor Statement
This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: EK Global Investor Relations Ehud Helft +1 212 378 8040 | Public Relations Contact: Seth Greenberg, Allot Ltd. +972 54 922 2294
|
TABLE - 1 | ||||||||
ALLOT LTD. | ||||||||
AND ITS SUBSIDIARIES | ||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
( | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
(Unaudited) | (Unaudited) | (Audited) | ||||||
Revenues | $ 24,906 | $ 24,342 | $ 92,195 | $ 93,150 | ||||
Cost of revenues | 7,853 | 12,941 | 28,505 | 40,464 | ||||
Gross profit | 17,053 | 11,401 | 63,690 | 52,686 | ||||
Operating expenses: | ||||||||
Research and development costs, net | 5,715 | 7,942 | 26,112 | 39,115 | ||||
Sales and marketing | 7,508 | 12,057 | 30,908 | 43,850 | ||||
General and administrative | 3,518 | 10,316 | 12,684 | 34,656 | ||||
Total operating expenses | 16,741 | 30,315 | 69,704 | 117,621 | ||||
Operating profit (loss) | 312 | (18,914) | (6,014) | (64,935) | ||||
Financial and other income (loss), net | 368 | 661 | 1,910 | 3,215 | ||||
Profit (Loss) before income tax benefit | 680 | (18,253) | (4,104) | (61,720) | ||||
Tax expenses | 439 | 96 | 1,765 | 1,084 | ||||
Net profit (Loss) | 241 | (18,349) | (5,869) | (62,804) | ||||
Basic net profit (loss) per share | $ 0.01 | $ (0.48) | $ (0.15) | $ (1.66) | ||||
Diluted net profit (loss) per share | $ 0.01 | $ (0.48) | $ (0.15) | $ (1.66) | ||||
Weighted average number of shares used in | ||||||||
computing basic net loss per share | 39,379,254 | 38,293,808 | 38,928,475 | 37,911,214 | ||||
Weighted average number of shares used in | ||||||||
computing diluted net loss per share | 41,772,402 | 38,293,808 | 40,899,294 | 37,911,214 | ||||
TABLE - 2 | ||||||||
ALLOT LTD. | ||||||||
AND ITS SUBSIDIARIES | ||||||||
RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
( | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
(Unaudited) | (Unaudited) | |||||||
GAAP cost of revenues | $ 7,853 | $ 12,941 | $ 28,505 | $ 40,464 | ||||
Share-based compensation (1) | (148) | (162) | (779) | (1,219) | ||||
Amortization of intangible assets (2) | (152) | (1,024) | (608) | (1,606) | ||||
Non-GAAP cost of revenues | $ 7,553 | $ 11,755 | $ 27,118 | $ 37,639 | ||||
GAAP gross profit | $ 17,053 | $ 11,401 | $ 63,690 | $ 52,686 | ||||
Gross profit adjustments | 300 | 1,186 | 1,387 | 2,825 | ||||
Non-GAAP gross profit | $ 17,353 | $ 12,587 | $ 65,077 | $ 55,511 | ||||
GAAP operating expenses | $ 16,741 | $ 30,315 | $ 69,704 | $ 117,621 | ||||
Share-based compensation (1) | (1,176) | (1,449) | (5,261) | (7,626) | ||||
Income related to M&A activities (2) | - | 699 | - | 699 | ||||
Non-GAAP operating expenses | $ 15,565 | $ 29,565 | $ 64,443 | $ 110,694 | ||||
GAAP financial and other income | $ 368 | $ 661 | $ 1,910 | $ 3,215 | ||||
Exchange rate differences* | 159 | (50) | 502 | (378) | ||||
Expenses related to M&A activities (3) | - | - | - | 43 | ||||
Non-GAAP Financial and other income | $ 527 | $ 611 | $ 2,412 | $ 2,880 | ||||
GAAP taxes on income | $ 439 | $ 96 | $ 1,765 | $ 1,084 | ||||
Changes in tax related items | (130) | (25) | (352) | (100) | ||||
Non-GAAP taxes on income | $ 309 | $ 71 | $ 1,413 | $ 984 | ||||
GAAP Net profit (Loss) | $ 241 | $ (18,349) | $ (5,869) | $ (62,804) | ||||
Share-based compensation (1) | 1,324 | 1,611 | 6,040 | 8,845 | ||||
Amortization of intangible assets (2) | 152 | 1,024 | 608 | 1,606 | ||||
Expenses related to M&A activities (3) | - | (699) | - | (656) | ||||
Exchange rate differences* | 159 | (50) | 502 | (378) | ||||
Changes in tax related items | 130 | 25 | 352 | 100 | ||||
Non-GAAP Net income (loss) | $ 2,006 | $ (16,438) | $ 1,633 | $ (53,287) | ||||
GAAP profit (Loss) per share (diluted) | $ 0.01 | $ (0.48) | $ (0.15) | $ (1.66) | ||||
Share-based compensation | 0.03 | 0.04 | 0.16 | 0.23 | ||||
Amortization of intangible assets | 0.00 | 0.03 | 0.02 | 0.05 | ||||
Expenses related to M&A activities | - | (0.02) | - | (0.02) | ||||
Exchange rate differences* | 0.01 | (0.00) | 0.01 | (0.01) | ||||
Changes in tax related items | 0.00 | 0.00 | 0.00 | 0.00 | ||||
Non-GAAP Net income (loss) per share (diluted) | $ 0.05 | $ (0.43) | $ 0.04 | $ (1.41) | ||||
Weighted average number of shares used in | ||||||||
computing GAAP diluted net income (loss) per share | 39,379,254 | 38,293,808 | 38,928,475 | 37,911,214 | ||||
Weighted average number of shares used in | ||||||||
computing non-GAAP diluted net income (loss) per share | 42,560,457 | 38,293,808 | 42,289,637 | 37,911,214 | ||||
* Financial income or expenses related to exchange rate differences in connection with revaluation of assets and | ||||||||
liabilities in non-dollar denominated currencies. | ||||||||
TABLE - 2 cont. | ||||||||
ALLOT LTD. | ||||||||
AND ITS SUBSIDIARIES | ||||||||
RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
( | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
(Unaudited) | (Unaudited) | |||||||
(1) Share-based compensation: | ||||||||
Cost of revenues | $ 148 | $ 162 | $ 779 | $ 1,219 | ||||
Research and development costs, net | 301 | 597 | 1,988 | 3,010 | ||||
Sales and marketing | 310 | 473 | 1,855 | 2,651 | ||||
General and administrative | 565 | 379 | 1,418 | 1,965 | ||||
$ 1,324 | $ 1,611 | $ 6,040 | $ 8,845 | |||||
(2) Amortization of intangible assets | ||||||||
Cost of revenues | $ 152 | $ 1,024 | $ 608 | $ 1,606 | ||||
$ 152 | $ 1,024 | $ 608 | $ 1,606 | |||||
(3) Expenses related to M&A activities | ||||||||
General and administrative | $ - | $ (699) | $ - | $ (699) | ||||
Financial expenses (income) | - | - | - | 43 | ||||
$ - | $ (699) | $ - | $ (656) | |||||
TABLE - 3 | ||||
ALLOT LTD. | ||||
AND ITS SUBSIDIARIES | ||||
CONSOLIDATED BALANCE SHEETS | ||||
( | ||||
December 31, | December 31, | |||
2024 | 2023 | |||
(Unaudited) | (Audited) | |||
ASSETS | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | $ 16,142 | $ 14,192 | ||
Short-term bank deposits | 15,250 | 10,000 | ||
Restricted deposits | 904 | 1,728 | ||
Available-for-sale marketable securities | 26,470 | 28,853 | ||
Trade receivables, net (net of allowance for credit losses of | 16,482 | 14,828 | ||
Other receivables and prepaid expenses | 6,317 | 8,437 | ||
Inventories | 8,611 | 11,874 | ||
Total current assets | 90,176 | 89,912 | ||
LONG-TERM ASSETS: | ||||
Severance pay fund | 464 | 395 | ||
Restricted deposit | 279 | 158 | ||
Operating lease right-of-use assets | 6,741 | 3,057 | ||
Other assets | 2,151 | 704 | ||
Property and equipment, net | 7,692 | 11,189 | ||
Intangible assets, net | 305 | 915 | ||
Goodwill | 31,833 | 31,833 | ||
Total non-current assets | 49,465 | 48,251 | ||
Total assets | $ 139,641 | $ 138,163 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
CURRENT LIABILITIES: | ||||
Trade payables | $ 946 | $ 969 | ||
Deferred revenues | 17,054 | 14,892 | ||
Short-term operating lease liabilities | 562 | 1,453 | ||
Other payables and accrued expenses | 17,412 | 22,094 | ||
Total current liabilities | 35,974 | 39,408 | ||
LONG-TERM LIABILITIES: | ||||
Deferred revenues | 7,136 | 7,437 | ||
Long-term operating lease liabilities | 5,807 | 702 | ||
Accrued severance pay | 946 | 1,080 | ||
Convertible debt | 39,973 | 39,773 | ||
Total long-term liabilities | 53,862 | 48,992 | ||
SHAREHOLDERS' EQUITY | 49,805 | 49,763 | ||
Total liabilities and shareholders' equity | $ 139,641 | $ 138,163 | ||
TABLE - 4 | |||||||
ALLOT LTD. | |||||||
AND ITS SUBSIDIARIES | |||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
( | |||||||
Three Months Ended | Year Ended | ||||||
December 31, | December 31, | ||||||
2024 | 2023 | 2024 | 2023 | ||||
(Unaudited) | (Unaudited) | (Audited) | |||||
Cash flows from operating activities: | |||||||
Net profit (Loss) | $ 241 | $ (18,349) | $ (5,869) | $ (62,804) | |||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||
Depreciation | 2,145 | 1,638 | 5,613 | 5,536 | |||
Stock-based compensation | 1,324 | 1,611 | 6,040 | 8,845 | |||
Amortization of intangible assets | 153 | 1,766 | 610 | 2,596 | |||
Increase (Decrease) in accrued severance pay, net | (48) | 37 | (203) | 116 | |||
Decrease (Increase) in other assets, other receivables and prepaid expenses | (274) | (62) | 702 | 621 | |||
Increase in accrued interest and amortization of premium/discount on marketable securities | (223) | (305) | (1,392) | (712) | |||
Decrease in operating leases liability | (545) | (845) | (1,644) | (3,322) | |||
Decrease in operating lease right-of-use asset | 325 | 681 | 2,174 | 2,686 | |||
Decrease (Increase) in trade receivables | 888 | 9,784 | (1,654) | 34,273 | |||
Decrease in inventories | 1,438 | 2,165 | 3,263 | 1,388 | |||
Decrease in trade payables | (2,178) | (2,857) | (23) | (10,692) | |||
Increase (Decrease) in employees and payroll accruals | (1,798) | 1,115 | (4,358) | (1,571) | |||
Increase (Decrease) in deferred revenues | 3,265 | (2,806) | 1,861 | (5,781) | |||
Increase in other payables, accrued expenses and other long term liabilities | (684) | 1,200 | (493) | (1,113) | |||
Amortization of issuance costs of Convertible debt | 50 | 50 | 200 | 198 | |||
Net cash provided by (used in) operating activities | 4,079 | (5,177) | 4,827 | (29,736) | |||
Cash flows from investing activities: | |||||||
Decrease (Increase) in restricted deposit | - | (804) | 703 | (836) | |||
Investment in short-term bank deposits | (15,250) | - | (24,550) | (15,900) | |||
Withdrawal of short-term bank deposits | 5,500 | 3,600 | 19,300 | 74,665 | |||
Purchase of property and equipment | (445) | (621) | (2,117) | (2,489) | |||
Investment in marketable securities | (16,719) | (12,064) | (61,003) | (46,742) | |||
Proceeds from redemption or sale of marketable securities | 10,750 | 7,750 | 64,790 | 22,935 | |||
Net cash provided by investing activities | (16,164) | (2,139) | (2,877) | 31,633 | |||
Cash flows from financing activities: | |||||||
Proceeds from exercise of stock options | 1 | (1) | - | - | |||
Net cash provided by (used in) financing activities | 1 | (1) | - | - | |||
Increase (Decrease) in cash and cash equivalents | (12,084) | (7,317) | 1,950 | 1,897 | |||
Cash and cash equivalents at the beginning of the period | 28,226 | 21,509 | 14,192 | 12,295 | |||
Cash and cash equivalents at the end of the period | $ 14,192 | $ 14,192 | |||||
Non-cash activity: | |||||||
Right-of-use assets obtained in the exchange for operating lease liabilities | $ 63 | $ 279 | $ 5,858 | $ 356 | |||
Other financial metrics (Unaudited) | ||||||||
Q4-2024 | FY 2024 | FY 2023 | ||||||
Revenues geographic breakdown | ||||||||
4.4 | 18 % | 14.2 | 15 % | 16.6 | 18 % | |||
EMEA | 15.8 | 63 % | 54.0 | 59 % | 56.1 | 60 % | ||
4.7 | 19 % | 24.0 | 26 % | 20.5 | 22 % | |||
24.9 | 100 % | 92.2 | 100 % | 93.2 | 100 % | |||
Revenues breakdown by type | ||||||||
Products | 4.9 | 20 % | 30.1 | 33 % | 37.6 | 40 % | ||
Professional Services | 2.8 | 11 % | 8.3 | 9 % | 6.1 | 7 % | ||
SECaaS (Security as a Service) | 4.8 | 19 % | 16.5 | 18 % | 10.6 | 11 % | ||
Support & Maintenance | 12.5 | 50 % | 37.3 | 40 % | 38.9 | 42 % | ||
24.9 | 100 % | 92.2 | 100 % | 93.2 | 100 % | |||
Revenues per customer type | ||||||||
CSP | 20.7 | 83 % | 75.4 | 82 % | 75.1 | 81 % | ||
Enterprise | 4.2 | 17 % | 16.8 | 18 % | 18.1 | 19 % | ||
24.9 | 100 % | 92.2 | 100 % | 93.2 | 100 % | |||
Top 10 customers as a % of revenues | 55 % | 43 % | 47 % | |||||
Non-GAAP Weighted average number of basic shares (in millions) | 39.4 | 38.9 | 37.9 | |||||
Non-GAAP weighted average number of fully diluted shares (in millions) | 42.6 | 42.3 | 40.3 | |||||
SECaaS (Security as a Service) revenues- | |||||||||
Q4-2024: | 4.8 | ||||||||
Q3-2024: | 4.7 | ||||||||
Q2-2024: | 3.7 | ||||||||
Q1-2024: | 3.4 | ||||||||
Q4-2023: | 3.2 | ||||||||
SECaaS ARR* - | |||||||||
Dec. 2024: | 18.2 | ||||||||
Dec. 2023: | 12.7 | ||||||||
Dec. 2022: | 9.2 | ||||||||
Dec. 2021: | 5.2 | ||||||||
Logo - https://mma.prnewswire.com/media/703889/Allot_Logo.jpg
View original content:https://www.prnewswire.com/news-releases/allot-announces-fourth-quarter-2024-financial-results-302384476.html
SOURCE Allot Ltd.
FAQ
What were Allot's (ALLT) Q4 2024 financial results?
How much did Allot's (ALLT) SECaaS revenue grow in Q4 2024?
Did Allot (ALLT) achieve profitability in Q4 2024?
What major partnerships did Allot (ALLT) announce in 2024?
What is Allot's (ALLT) cash position as of December 31, 2024?
What is Allot's (ALLT) outlook for 2025?
