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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 Far EasTone Telecommunications (FET) in Taiwan has launched cybersecurity threat protection services using Allot's NetworkSecure solution. This partnership allows FET to offer protection from various cyber threats without requiring application installation, enhancing customer loyalty. The service will generate recurring revenue for both companies from monthly fees. Allot aims to strengthen its presence in the cybersecurity market by collaborating with FET and CommVerge for local support and solution integration.
Allot Ltd. (NASDAQ: ALLT) reported its Q3 2022 financial results with revenues of $25.0 million, down 34% from $38.2 million in Q3 2021. The GAAP net loss reached $12.9 million or $0.35 per share, compared to a loss of $3.1 million a year earlier. Despite challenges, management maintains its 2022 revenue guidance of $125-$130 million, leaning towards the lower end. The company anticipates an increase in recurring security deals and aims for profitability by 2024.
Allot Ltd. (NASDAQ: ALLT) announced the nomination of Ms. Cynthia L. Paul to its Board of Directors, pending shareholder approval at the Annual Meeting on December 14, 2022. Ms. Paul has over 25 years of experience, currently serving as CEO and CIO of Lynrock Lake LP, with a history at Soros Fund Management and other prominent roles. Her extensive background in investment and technology is expected to enhance Allot's governance and strategic direction. The company continues to provide innovative network intelligence and security solutions globally.
Allot Ltd (NASDAQ: ALLT) announced that Verizon has chosen its NetworkSecure solution to provide cybersecurity protection for some of its wireless and fixed wireless Small and Medium Business (SMB) and IoT customers. Allot will receive a monthly fee based on customer usage of the service, which offers protection against various cyber threats including malware and phishing attacks. This partnership signifies a move towards enhancing cybersecurity for Verizon’s customer segments while leveraging Allot’s clientless, zero-touch operation approach.
Allot Ltd. (NASDAQ: ALLT) announced a conference call on November 15, 2022, at 8:30 AM ET to discuss its third quarter 2022 results. The unaudited financial results will be released before the call. Investors can join via provided dial-in numbers or a live webcast on Allot's investor website. Allot specializes in innovative network intelligence and security solutions for communication service providers and enterprises, servicing over 500 service providers and 1,000 enterprises globally, with its security solutions reaching over 20 million subscribers.
Allot Ltd (NASDAQ: ALLT) has teamed up with Vantiva through the Vantiva HERO Partner Program to integrate its HomeSecure and BusinessSecure cybersecurity solutions into Vantiva's broadband gateways. This initiative aims to deliver enhanced cyber threat protection for home and small business users. The collaboration allows Allot to leverage Vantiva's existing market footprint and service provider partners, facilitating mass provisioning of its security services. This integration offers consumers zero-touch network visibility and advanced security features without requiring user configuration.
Allot Ltd. (NASDAQ: ALLT) reported second quarter 2022 revenues of $32.8 million, a 7% decline from $35.3 million in Q2 2021. The company faced a GAAP operating loss of $6.5 million and a net loss of $6.2 million. For the full year, it adjusted its revenue guidance to $125 - 130 million, expecting Q3 revenues around $25 million. Despite challenges in closing CAPEX deals, management anticipates 15% year-over-year growth in ARR by December 2022, with a goal of profitability by 2024.
Allot Ltd. (NASDAQ: ALLT) will host a conference call on August 16, 2022, at 8:30 AM ET to discuss its second quarter 2022 results. The unaudited financial results will be released before the call. Access numbers include US: 1-888-642-5032, UK: 0-800-917-5108, Israel: +972-3-918-0609. A live webcast will be available on Allot's investor website, with an archived version accessible later.
Allot provides innovative network intelligence and security services globally, enhancing customer value across over 500 service providers and 1000 enterprises.
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.
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