HOD HASHARON, Israel, Aug. 27,
2024 /PRNewswire/ -- Allot Ltd. (NASDAQ: ALLT) (TASE:
ALLT), a leading global provider of innovative network intelligence
and security solutions for service providers and enterprises
worldwide, today announced its unaudited financial results for the
second quarter of 2024.
Financial Highlights for the Second Quarter
- Revenues were $22.2 million,
stable compared with that of the prior quarter;
- Non-GAAP gross margin was 70.6%;
- Security as a Service (SECaaS) revenues continued to grow,
increasing 54% year-over-year to $3.7
million;
- June 2024 SECaaS ARR* was $14.6
million;
- Operating loss improved significantly year over year: declining
84% to $3.4 million on a GAAP basis
and 95% to $1 million on a non-GAAP
basis;
- Operating cash flow was positive for the first time in three
years, coming in at $1.2
million;
- Net cash** increased by $0.6
million during the quarter;
Financial Outlook
For the second half of 2024, management expects non-GAAP
operating profit at around breakeven and the net cash position to
not decrease.
Full year SECaaS revenue and SECaaS ARR* are expected to
continue experiencing accelerated growth at around 50%
year-over-year.
Management Comment
Eyal Harari, CEO of Allot
commented, "We have made significant progress improving our
operational efficiency and stabilizing the business, and we are
very pleased to have returned to positive operating cash flow for
the first time in three years. At the same time, we continue
investing in our long-term growth engine, SECaaS.
"During the quarter, we demonstrated solid execution. We won new
customers in both Allot Smart and Allot Secure, and we closed
expansion contracts with existing customers. We have a strong and
broad pipeline of opportunities, and we are making progress in
converting that pipeline into orders.
"In my first few months at Allot, I have been meeting our
customers and employees, looking for ways to leverage our strong
assets and deep technological capabilities to better serve all our
stakeholders. We are formulating a strategic plan to drive
long-term profitable growth, and I look forward to realizing
Allot's strong potential."
Q2 2024 Financial Results Summary
Total revenues for the second quarter of 2024 were
$22.2 million, a 12% decrease
compared to $25 million in the second
quarter of 2023.
Gross profit on a GAAP basis for the second quarter
of 2024 was $15.2 million (gross
margin of 68.5%), a 12% decline compared with $17.3 million (gross margin of 69.2%) in the
second quarter of 2023.
Gross profit on a non-GAAP basis for the second
quarter of 2024 was $15.7 million
(gross margin of 70.6%), a 12% decline compared with $17.9 million (gross margin of 71.4%) in the
second quarter of 2023.
Operating loss on a GAAP basis for the second quarter of
2024 was $3.4 million, an 84%
improvement compared with an operating loss of $21.5 million in the second quarter of 2023.
Operating loss on a non-GAAP basis for the second
quarter of 2024 was $1 million, a 95%
improvement compared with an $18.9
million loss in the second quarter of 2023.
Net loss on a GAAP basis for the second quarter of
2024 was $3.4 million, or
$0.09 per basic share, an improvement
compared to the net loss of $20.7
million, or $0.55 per basic
share, in the second quarter of 2023.
Net loss on a non-GAAP basis for the second quarter
of 2024 was $0.8 million, or
$0.02 per basic share, an improvement
compared to the non-GAAP net loss of $18.3
million, or $0.49 per basic
share, in the second quarter of 2023.
Operating cash flow in the quarter was $1.2 million.
Cash and cash equivalents, short-term bank deposits, and
investments as of June 30, 2024,
totaled $53.2 million, an increase of
$0.6 million versus $52.6 million at the end of the prior quarter and
$54.8 million as of December 31, 2023.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss
its Second quarter 2024 earnings results today, August 27, 2024, at 9:00
am ET, 4:00 pm Israel time. To access the conference call,
please dial one of the following numbers:
US: 1-888-642-5032, UK: 0-800-917-5108, Israel: +972-3-918-0610
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 June
2024 and multiplied by 12.
** Net Cash – Cash and cash equivalents, short-term bank
deposits, and investments net of convertible debt.
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
allot@ekgir.com
|
Public Relations
Contact:
Seth Greenberg, Allot
Ltd.
+972 54 922
2294
sgreenberg@allot.com
|
|
TABLE -
1
|
|
ALLOT
LTD.
|
|
AND ITS
SUBSIDIARIES
|
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
|
(U.S. dollars in
thousands, except share and per share data)
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
Six Months
Ended
|
|
Jun
30,
|
|
|
Jun
30,
|
|
2024
|
|
2023
|
|
|
2024
|
|
2023
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
$
22,164
|
|
$
25,047
|
|
|
$
44,054
|
|
$
46,173
|
|
Cost of
revenues
|
6,989
|
|
7,707
|
|
|
13,781
|
|
15,358
|
|
Gross
profit
|
15,175
|
|
17,340
|
|
|
30,273
|
|
30,815
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Research and
development costs, net
|
7,326
|
|
10,752
|
|
|
14,475
|
|
21,246
|
|
Sales and
marketing
|
7,911
|
|
10,522
|
|
|
15,701
|
|
21,409
|
|
General and
administrative
|
3,304
|
|
17,558
|
|
|
6,206
|
|
21,518
|
|
Total operating
expenses
|
18,541
|
|
38,832
|
|
|
36,382
|
|
64,173
|
|
Operating
loss
|
(3,366)
|
|
(21,492)
|
|
|
(6,109)
|
|
(33,358)
|
|
Financial and other
income, net
|
489
|
|
985
|
|
|
1,029
|
|
1,779
|
|
Loss before income tax
expenses
|
(2,877)
|
|
(20,507)
|
|
|
(5,080)
|
|
(31,579)
|
|
|
|
|
|
|
|
|
|
|
Tax expenses
|
479
|
|
225
|
|
|
786
|
|
515
|
|
Net Loss
|
(3,356)
|
|
(20,732)
|
|
|
(5,866)
|
|
(32,094)
|
|
|
|
|
|
|
|
|
|
|
Basic net loss
per share
|
$
(0.09)
|
|
$
(0.55)
|
|
|
$
(0.16)
|
|
$
(0.85)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net
loss per share
|
$
(0.09)
|
|
$
(0.55)
|
|
|
$
(0.16)
|
|
$
(0.85)
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
|
computing basic net
loss per share
|
38,712,407
|
|
37,743,328
|
|
|
38,562,065
|
|
37,583,412
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
|
computing diluted net
loss per share
|
38,712,407
|
|
37,743,328
|
|
|
38,562,065
|
|
37,583,412
|
|
TABLE - 2
|
|
ALLOT LTD.
|
|
AND ITS SUBSIDIARIES
|
|
RECONCILIATION OF GAAP TO NON-GAAP
CONSOLIDATED STATEMENTS OF
OPERATIONS
|
|
(U.S. dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June 30,
|
|
June 30,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
(Unaudited)
|
|
(Unaudited)
|
|
GAAP cost of
revenues
|
$
6,989
|
|
$
7,707
|
|
$
13,781
|
|
$
15,358
|
|
Share-based
compensation (1)
|
(324)
|
|
(348)
|
|
(478)
|
|
(879)
|
|
Amortization of
intangible assets (2)
|
(152)
|
|
(194)
|
|
(304)
|
|
(387)
|
|
Non-GAAP cost of
revenues
|
$
6,513
|
|
$
7,165
|
|
$
12,999
|
|
$
14,092
|
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
$
15,175
|
|
$
17,340
|
|
$
30,273
|
|
$
30,815
|
|
Gross profit
adjustments
|
476
|
|
542
|
|
782
|
|
1,266
|
|
Non-GAAP gross
profit
|
$
15,651
|
|
$
17,882
|
|
$
31,055
|
|
$
32,081
|
|
|
|
|
|
|
|
|
|
|
GAAP operating
expenses
|
$
18,541
|
|
$
38,832
|
|
$
36,382
|
|
$
64,173
|
|
Share-based
compensation (1)
|
(1,863)
|
|
(2,077)
|
|
(3,069)
|
|
(5,014)
|
|
Non-GAAP
operating expenses
|
$
16,678
|
|
$
36,755
|
|
$
33,313
|
|
$
59,159
|
|
|
|
|
|
|
|
|
|
|
GAAP financial
and other income
|
$
489
|
|
$
985
|
|
$
1,029
|
|
$
1,779
|
|
Exchange rate
differences*
|
110
|
|
(238)
|
|
204
|
|
(281)
|
|
Expenses related
to M&A activities (3)
|
|
-
|
|
14
|
|
-
|
|
28
|
|
Non-GAAP
Financial and other income
|
$
599
|
|
$
761
|
|
$
1,233
|
|
$
1,526
|
|
|
|
|
|
|
|
|
|
|
GAAP taxes on
income
|
$
479
|
|
$
225
|
|
$
786
|
|
$
515
|
|
Changes in tax
related items
|
(133)
|
|
(25)
|
|
(177)
|
|
(50)
|
|
Non-GAAP taxes on
income
|
$
346
|
|
$
200
|
|
$
609
|
|
$
465
|
|
|
|
|
|
|
|
|
|
|
GAAP Net
Loss
|
$
(3,356)
|
|
$ (20,732)
|
|
$
(5,866)
|
|
$ (32,094)
|
|
Share-based
compensation (1)
|
2,187
|
|
2,425
|
|
3,547
|
|
5,893
|
|
Amortization of
intangible assets (2)
|
152
|
|
194
|
|
304
|
|
387
|
|
Expenses related
to M&A activities (3)
|
|
-
|
|
14
|
|
-
|
|
28
|
|
Exchange rate
differences*
|
110
|
|
(238)
|
|
204
|
|
(281)
|
|
Changes in tax
related items
|
|
133
|
|
25
|
|
177
|
|
50
|
|
Non-GAAP Net
loss
|
$
(774)
|
|
$ (18,312)
|
|
$
(1,634)
|
|
$ (26,017)
|
|
|
|
|
|
|
|
|
|
|
GAAP Loss per
share (diluted)
|
$
(0.09)
|
|
$
(0.55)
|
|
$
(0.16)
|
|
$
(0.85)
|
|
Share-based
compensation
|
0.06
|
|
0.06
|
|
0.10
|
|
0.16
|
|
Amortization of
intangible assets
|
0.01
|
|
0.01
|
|
0.01
|
|
0.01
|
|
Expenses related
to M&A activities
|
-
|
|
0.00
|
|
-
|
|
0.00
|
|
Exchange rate
differences*
|
0.00
|
|
(0.01)
|
|
-
|
|
(0.01)
|
|
Changes in tax
related items
|
|
-
|
|
-
|
|
-
|
|
-
|
|
Non-GAAP Net loss
per share (diluted)
|
$
(0.02)
|
|
$
(0.49)
|
|
$
(0.05)
|
|
$
(0.69)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
computing GAAP diluted
net loss per share
|
38,712,407
|
|
37,743,328
|
|
38,562,065
|
|
37,583,412
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
computing non-GAAP
diluted net loss per share
|
38,712,407
|
|
37,743,328
|
|
38,562,065
|
|
37,583,412
|
|
|
|
|
|
|
|
|
|
|
* 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
|
|
(U.S. dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
|
June
30,
|
|
June
30,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
(1) Share-based
compensation:
|
|
|
|
|
|
|
|
|
Cost of revenues
|
$
324
|
|
$
348
|
|
$
478
|
|
$
879
|
|
Research and development costs,
net
|
787
|
|
754
|
|
1,285
|
|
1,956
|
|
Sales and marketing
|
792
|
|
733
|
|
1,235
|
|
1,770
|
|
General and administrative
|
284
|
|
590
|
|
549
|
|
1,288
|
|
|
$
2,187
|
|
$
2,425
|
|
$
3,547
|
|
$
5,893
|
|
|
|
|
|
|
|
|
|
|
(2) Amortization
of intangible assets
|
|
|
|
|
|
|
|
|
Cost of revenues
|
$
152
|
|
$
194
|
|
$
304
|
|
$
387
|
|
|
$
152
|
|
$
194
|
|
$
304
|
|
$
387
|
|
|
|
|
|
|
|
|
|
|
(3) Expenses
related to M&A activities
|
|
|
|
|
|
|
|
|
Financial income
|
$
-
|
|
$
14
|
|
$
-
|
|
$
28
|
|
|
$
-
|
|
$
14
|
|
$
-
|
|
$
28
|
|
TABLE -
3
|
|
ALLOT
LTD.
|
|
AND ITS
SUBSIDIARIES
|
|
CONSOLIDATED
BALANCE SHEETS
|
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
June
30,
|
|
December
31,
|
|
|
2024
|
|
2023
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
ASSETS
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
15,883
|
|
$
14,192
|
|
Short-term bank
deposits
|
|
3,800
|
|
10,000
|
|
Restricted
deposits
|
|
1,183
|
|
1,728
|
|
Available-for-sale
marketable securities
|
|
32,313
|
|
28,853
|
|
Trade receivables, net
(net of allowance for credit losses of
$25,341 and $25,253 on June 30, 2024 and December 31,
2023, respectively)
|
|
17,808
|
|
14,828
|
|
Other receivables and
prepaid expenses
|
|
5,933
|
|
8,437
|
|
Inventories
|
|
9,606
|
|
11,874
|
|
Total current
assets
|
|
86,526
|
|
89,912
|
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
|
Severance pay
fund
|
|
409
|
|
395
|
|
Restricted
deposit
|
|
-
|
|
158
|
|
Operating lease
right-of-use assets
|
|
1,883
|
|
3,057
|
|
Other
assets
|
|
1,025
|
|
704
|
|
Property and equipment,
net
|
|
10,203
|
|
11,189
|
|
Intangible assets,
net
|
|
610
|
|
915
|
|
Goodwill
|
|
31,833
|
|
31,833
|
|
Total non-current
assets
|
|
45,963
|
|
48,251
|
|
|
|
|
|
|
Total assets
|
|
$
132,489
|
|
$
138,163
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
Trade
payables
|
|
$
985
|
|
$
969
|
|
Deferred
revenues
|
|
15,565
|
|
14,892
|
|
Short-term operating
lease liabilities
|
|
1,405
|
|
1,453
|
|
Other payables and
accrued expenses
|
|
18,128
|
|
22,094
|
|
Total current
liabilities
|
|
36,083
|
|
39,408
|
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
|
Deferred
revenues
|
|
8,729
|
|
7,437
|
|
Long-term operating
lease liabilities
|
|
132
|
|
702
|
|
Accrued severance
pay
|
|
929
|
|
1,080
|
|
Convertible
debt
|
|
39,873
|
|
39,773
|
|
Total long-term
liabilities
|
|
49,663
|
|
48,992
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
46,743
|
|
49,763
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
$
132,489
|
|
$
138,163
|
|
TABLE -
4
|
|
ALLOT
LTD.
|
|
AND ITS
SUBSIDIARIES
|
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Six Months
Ended
|
|
June
30,
|
|
June
30,
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Cash flows from operating
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
$
(3,356)
|
|
$
(20,732)
|
|
$
(5,866)
|
|
$
(32,094)
|
|
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
|
|
|
|
|
|
|
|
|
Depreciation
|
1,156
|
|
1,327
|
|
2,371
|
|
2,647
|
|
Stock-based
compensation
|
2,187
|
|
2,425
|
|
3,547
|
|
5,893
|
|
Amortization of
intangible assets
|
153
|
|
277
|
|
305
|
|
553
|
|
Increase (Decrease) in
accrued severance pay, net
|
(107)
|
|
13
|
|
(165)
|
|
73
|
|
Decrease in other
assets, other receivables and prepaid expenses
|
955
|
|
468
|
|
1,672
|
|
967
|
|
Increase in accrued
interest and amortization of premium/discount on marketable
securities
|
(405)
|
|
(166)
|
|
(777)
|
|
(147)
|
|
Decrease in operating
leases liability
|
(159)
|
|
(438)
|
|
(618)
|
|
(1,543)
|
|
Decrease in operating
lease right-of-use asset
|
622
|
|
728
|
|
1,174
|
|
1,450
|
|
Decrease (Increase) in
trade receivables
|
(2,789)
|
|
10,403
|
|
(2,980)
|
|
14,889
|
|
Decrease (Increase) in
inventories
|
2,101
|
|
(1,645)
|
|
2,268
|
|
(5,098)
|
|
Increase (Decrease) in
trade payables
|
278
|
|
(2,941)
|
|
16
|
|
(2,202)
|
|
Decrease in employees
and payroll accruals
|
(649)
|
|
(1,042)
|
|
(4,135)
|
|
(2,494)
|
|
Increase (Decrease) in
deferred revenues
|
595
|
|
870
|
|
1,965
|
|
(1,299)
|
|
Increase (Decrease) in
other payables, accrued expenses and other long term
liabilities
|
542
|
|
(923)
|
|
(12)
|
|
(1,824)
|
|
Amortization of
issuance costs of Convertible debt
|
50
|
|
49
|
|
100
|
|
98
|
|
Net cash provided by
(used in) operating activities
|
1,174
|
|
(11,327)
|
|
(1,135)
|
|
(20,131)
|
|
|
|
|
|
|
|
|
|
Cash flows from investing
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (Increase) in
restricted deposit
|
(1)
|
|
(224)
|
|
703
|
|
(224)
|
|
Investment in
short-term bank deposits
|
(3,800)
|
|
-
|
|
(3,800)
|
|
(15,900)
|
|
Withdrawal of
short-term bank deposits
|
-
|
|
21,700
|
|
10,000
|
|
54,600
|
|
Purchase of property
and equipment
|
(957)
|
|
(290)
|
|
(1,386)
|
|
(560)
|
|
Investment in
marketable securities
|
(10,477)
|
|
(9,584)
|
|
(34,752)
|
|
(18,567)
|
|
Proceeds from
redemption or sale of marketable securities
|
7,225
|
|
590
|
|
32,060
|
|
3,960
|
|
Net cash provided by
(used in) investing activities
|
(8,010)
|
|
12,192
|
|
2,825
|
|
23,309
|
|
|
|
|
|
|
|
|
|
Cash flows from financing
activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from exercise
of stock options
|
1
|
|
-
|
|
1
|
|
-
|
|
Net cash provided by
financing activities
|
1
|
|
-
|
|
1
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (Decrease) in
cash and cash equivalents
|
(6,835)
|
|
865
|
|
1,691
|
|
3,178
|
|
Cash and cash
equivalents at the beginning of the period
|
22,718
|
|
14,608
|
|
14,192
|
|
12,295
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
$
15,883
|
|
$ 15,473
|
|
$
15,883
|
|
$
15,473
|
|
Other financial metrics
(Unaudited)
|
|
|
|
|
|
|
|
U.S. dollars in
millions, except number of full time employees, top 10 customers as
a %
of revenues and number of shares
|
|
|
|
|
|
|
|
|
|
|
|
|
Q2-2024
|
|
YTD 2024
|
|
FY 2023
|
|
|
Revenues geographic
breakdown
|
|
|
|
|
|
|
|
Americas
|
|
2.1
|
10 %
|
6.4
|
15 %
|
16.6
|
18 %
|
|
EMEA
|
|
11.1
|
50 %
|
23.6
|
53 %
|
56.1
|
60 %
|
|
Asia Pacific
|
|
9.0
|
40 %
|
14.1
|
32 %
|
20.5
|
22 %
|
|
|
|
22.2
|
100 %
|
44.1
|
100 %
|
93.2
|
100 %
|
|
|
|
|
|
|
|
|
|
|
Revenues breakdown by type
|
|
|
|
|
|
|
|
Products
|
|
9.4
|
42 %
|
16.8
|
38 %
|
37.6
|
40 %
|
|
Professional
Services
|
1.2
|
5 %
|
4.2
|
10 %
|
6.1
|
7 %
|
|
SECaaS (Security as a
Service)
|
3.7
|
17 %
|
7.1
|
16 %
|
10.6
|
11 %
|
|
Support &
Maintenance
|
7.9
|
36 %
|
16.0
|
36 %
|
38.9
|
42 %
|
|
|
|
22.2
|
100 %
|
44.1
|
100 %
|
93.2
|
100 %
|
|
|
|
|
|
|
|
|
|
|
Revenues per customer type
|
|
|
|
|
|
|
|
CSP
|
|
18.7
|
84 %
|
36.0
|
82 %
|
75.1
|
81 %
|
|
Enterprise
|
|
3.5
|
16 %
|
8.1
|
18 %
|
18.1
|
19 %
|
|
|
|
22.2
|
100 %
|
44.1
|
100 %
|
93.2
|
100 %
|
|
|
|
|
|
|
|
|
|
|
Top 10 customers as a %
of revenues
|
50 %
|
|
45 %
|
|
47 %
|
|
|
|
|
|
|
|
|
|
|
|
Total number of full
time employees
|
500
|
|
500
|
|
559
|
|
|
(end of
period)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Weighted
average number of basic shares (in
millions)
|
38.7
|
|
38.6
|
|
37.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP weighted
average number of fully diluted
shares (in millions)
|
42.3
|
|
41.7
|
|
40.3
|
|
|
|
|
SECaaS (Security as a Service) revenues- U.S.
dollars in millions (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q2-2024:
|
3.7
|
|
|
|
|
|
|
|
|
|
Q1-2024:
|
3.4
|
|
|
|
|
|
|
|
|
|
Q4-2023:
|
3.2
|
|
|
|
|
|
|
|
|
|
Q3-2023:
|
2.8
|
|
|
|
|
|
|
|
|
|
Q2-2023:
|
2.4
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECaaS ARR* - U.S. dollars in millions
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Jun. 2024:
|
14.6
|
|
|
|
|
|
|
|
|
|
Dec. 2023:
|
12.7
|
|
|
|
|
|
|
|
|
|
Dec. 2022:
|
9.2
|
|
|
|
|
|
|
|
|
|
Dec. 2021:
|
5.2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Logo -
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View original
content:https://www.prnewswire.com/news-releases/allot-announces-second-quarter-2024-financial-results-302231430.html
SOURCE Allot Ltd.
