Welcome to our dedicated page for Allot Ltd. Ordinary Shares news (Ticker: ALLT), a resource for investors and traders seeking the latest updates and insights on Allot Ltd. Ordinary Shares stock.
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, 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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