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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) has announced that its NetworkSecure cybersecurity solution has prevented over 140 million connections to Flubot command and control servers across Europe from March to May 2021. Flubot is a rapidly spreading banking Trojan that exploits users by mimicking legitimate apps to harvest credentials. Allot's service, requiring no client software, offers protection against various cyber threats. The company notes a significant adoption rate of up to 50% among service providers, indicating strong market demand for its solutions.
Allot Ltd (NASDAQ: ALLT) announces a significant partnership with a Tier-1 mobile operator in the APAC region to implement its 5G NetProtect solution. This solution is designed to secure the operator's 5G network against DDoS and botnet attacks by providing User Plane Protection (UPP). The cloud-native technology leverages machine learning and a multi-layer threat prevention strategy to maintain high Quality of Experience (QoE). This collaboration reflects growing demand for network security solutions as 5G networks expand.
Allot Ltd. (NASDAQ: ALLT) announced that a North American government agency selected its Traffic Intelligence Platform for a national rollout. This solution is designed to manage massive traffic from multiple data centers, ensuring over 100Gbps throughput. The agency aims to consolidate its infrastructure while enhancing network visibility and application control, crucial for maintaining a superior Quality of Experience (QoE) for its hundreds of thousands of end users. The Allot platform is expected to replace a discontinued solution, offering better capacity and analytics.
Allot Ltd. (NASDAQ: ALLT) reported Q1 2021 revenues of $31.2 million, marking a 6% increase year-over-year. The company achieved a gross margin of 69.2% and ended the quarter with cash and investments totaling $103 million. Allot successfully penetrated the US market by partnering with DISH Network to secure its 5G services. Management anticipates full-year revenues between $145-150 million and expects significant recurring security revenues in 2021 and onward. However, net loss on a GAAP basis for Q1 2021 increased to $4 million.
Allot Ltd. (NASDAQ: ALLT) announced a virtual Analyst & Investor event on May 11, 2021, at 9:00 AM ET to discuss Q1 2021 financial results and the growth potential of the company in cybersecurity. The event will feature presentations from the management team and insights from cybersecurity customers. Registration is available online, and a recorded version of the event will be accessible on the Allot website shortly after. The company emphasizes its role as a provider of network intelligence and security solutions for service providers and enterprises.
DISH Network Corporation (NASDAQ: DISH) has partnered with Allot Ltd (NASDAQ: ALLT) to enhance security for its cloud-native, OpenRAN-based 5G network. Allot will provide end-to-end User Plane Protection (UPP) against cyber threats, including DDoS and botnet attacks, and additional cybersecurity services for DISH’s consumer and SMB customers. This partnership is expected to fortify DISH's innovative 5G network against evolving security risks, demonstrating Allot's capabilities in network security solutions and enhancing value for DISH's customers.
Allot Ltd (NASDAQ: ALLT) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the U.S. SEC. This report includes audited financial statements, which can be accessed on the SEC's website or through Allot's investor relations page. Shareholders can request a hard copy of the report at no charge. Allot, a leader in network intelligence and security-as-a-service solutions, supports over 500 service providers and 1000 enterprises globally, with more than 20 million subscribers utilizing its services.
Allot Ltd (NASDAQ: ALLT) announced that Exetel, Australia's leading independent ISP, has launched clientless cybersecurity services powered by Allot's NetworkSecure. This initiative aims to protect residential customers against rising cyber threats, such as malware and ransomware, particularly accentuated by the COVID-19 pandemic. Exetel's service features zero-touch onboarding, enhancing user accessibility. The collaboration is based on a recurring fee from subscribers, with expectations of double-digit adoption rates, placing Exetel at the forefront of cybersecurity in Australia.
Allot has enhanced its presence in Japan by replacing a competitor's system with its SmartTraffic QoE solution for a broadband provider. This innovative solution offers real-time traffic management and network analytics, ensuring fair bandwidth usage among customers. The implementation will support up to 1Tbps of traffic, enhancing Quality of Experience (QoE). Oren Coral, VP Sales, highlighted their commitment to customer satisfaction and rapid response in the Japanese market.
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