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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 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.
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