Reports non-GAAP operating profit for the
first time in three years
HOD HASHARON, Israel, Nov. 19,
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
third quarter of 2024.
Financial Highlights for the Third Quarter
- Revenues of $23.2 million were up
5% sequentially and 3% year over year, representing a return to
growth,;
- Non-GAAP gross margin was 71.7%;
- Security as a Service (SECaaS) revenues continued to grow
strongly, increasing 69% year-over-year to $4.7 million, in line with expectations;
September 2024 SECaaS ARR* was
$17.2 million;
- Non-GAAP operating profit was $1.1
million, GAAP operating loss was $0.2 million;
- Positive operating cash flow of $1.9
million;
- Net cash** increased by $2.0
million versus June 30,
2024.
Financial Outlook
For the fourth quarter of 2024, Allot management expects to
remain around breakeven on a non-GAAP operating profit basis and to
generate positive operating cash flow, contributing to a further
improvement in the balance sheet net cash position.
Management expects a double-digit growth year over year for full
year SECaaS revenue and SECaaS ARR*.
Management Comment
Eyal Harari, CEO of Allot
commented, "We are pleased with the continued progress
made this quarter in strengthening Allot's financial position
through our cash generation, and we are particularly pleased with
our first positive non-GAAP operating income in three years.
Revenue grew both sequentially and year over year, and revenue from
our security growth engine continues to grow very strongly.
"Our security as a service solution continues to gain traction.
We recently expanded our business and launched new services with
Vodafone and MEO. These newly announced customer-wins further
broaden the potential subscriber base which can benefit from our
security solutions and strengthen our recurring revenue base over
the long term."
"As we finalize our strategy for long-term growth and
profitability, we are positioning ourselves as a
security-first company by unifying our network intelligence
and security offerings. We believe that this integrated approach
will enhance our value proposition and lay a new foundation for
long-term profitable growth. I am increasingly optimistic about
Allot's future," concluded Harari.
Q3 2024 Financial Results Summary
Total revenues for the third quarter of 2024 were
$23.2 million, a 3% increase compared
to $22.6 million in the third quarter
of 2023. It was also a sequential improvement of 5% compared with
$22.2 million reported in the prior
quarter.
Gross profit on a GAAP basis for the third quarter
of 2024 was $16.4 million (gross
margin of 70.4%), a 56% increase compared with $10.5 million (gross margin of 46.3%) in the
third quarter of 2023.
Gross profit on a non-GAAP basis for the third
quarter of 2024 was $16.7 million
(gross margin of 71.7%), a 54% increase compared with $10.8 million (gross margin of 47.9%) in the
third quarter of 2023.
Operating loss on a GAAP basis for the third quarter of
2024 was $0.2 million, compared with
an operating loss of $12.7 million in
the third quarter of 2023.
Operating income on a non-GAAP basis for the third
quarter of 2024 was $1.1 million,
compared with an $11.1
million loss in the third quarter of 2023.
Net loss on a GAAP basis for the third quarter of
2024 was $0.2 million, or
$0.01 per diluted share, an
improvement compared to the net loss of $12.4 million, or $0.32 per basic share, in the third quarter of
2023.
Net income on a non-GAAP basis for the third quarter
of 2024 was $1.3 million, or
$0.03 income per basic share, an
improvement compared to the non-GAAP net loss of $10.8 million, or $0.28 loss per basic share, in the third quarter
of 2023.
Operating cash flow generated in the quarter was
$1.9 million.
Cash and cash equivalents, short-term bank deposits,
short-term restricted deposits, and investments as of
September 30, 2024, totaled
$54.5 million, versus $53.2 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 third quarter 2024 earnings results today, November 19, 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 September 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
|
|
|
Nine Months
Ended
|
|
September
30,
|
|
|
September
30,
|
|
2024
|
|
2023
|
|
|
2024
|
|
2023
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
$
23,235
|
|
$
22,635
|
|
|
$
67,289
|
|
$
68,808
|
|
Cost of
revenues
|
6,871
|
|
12,165
|
|
|
20,652
|
|
27,523
|
|
Gross
profit
|
16,364
|
|
10,470
|
|
|
46,637
|
|
41,285
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Research and
development costs, net
|
5,922
|
|
9,927
|
|
|
20,397
|
|
31,173
|
|
Sales and
marketing
|
7,699
|
|
10,384
|
|
|
23,400
|
|
31,793
|
|
General and
administrative
|
2,960
|
|
2,822
|
|
|
9,166
|
|
24,340
|
|
Total operating
expenses
|
16,581
|
|
23,133
|
|
|
52,963
|
|
87,306
|
|
Operating
loss
|
(217)
|
|
(12,663)
|
|
|
(6,326)
|
|
(46,021)
|
|
Financial and other
income, net
|
513
|
|
775
|
|
|
1,542
|
|
2,554
|
|
Profit (Loss) before
income tax expenses
|
296
|
|
(11,888)
|
|
|
(4,784)
|
|
(43,467)
|
|
|
|
|
|
|
|
|
|
|
Tax expenses
|
540
|
|
473
|
|
|
1,326
|
|
988
|
|
Net Loss
|
(244)
|
|
(12,361)
|
|
|
(6,110)
|
|
(44,455)
|
|
|
|
|
|
|
|
|
|
|
Basic net loss
per share
|
$
(0.01)
|
|
$
(0.32)
|
|
|
$
(0.17)
|
|
$
(1.18)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net
loss per share
|
$
(0.01)
|
|
$
(0.32)
|
|
|
$
(0.17)
|
|
$
(1.18)
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
|
computing basic net
loss per share
|
39,202,550
|
|
38,173,533
|
|
|
38,777,119
|
|
37,782,281
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
|
computing diluted net
loss per share
|
39,202,550
|
|
38,173,533
|
|
|
38,777,119
|
|
37,782,281
|
|
|
|
|
|
|
|
|
|
|
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
|
|
Nine Months Ended
|
|
|
September 30,
|
|
September 30,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
GAAP cost of
revenues
|
|
$6,871
|
|
$12,165
|
|
$20,652
|
|
$27,523
|
|
Share-based
compensation (1)
|
|
(153)
|
|
(178)
|
|
(631)
|
|
(1,057)
|
|
Amortization of
intangible assets (2)
|
|
(152)
|
|
(195)
|
|
(456)
|
|
(582)
|
|
Non-GAAP cost of
revenues
|
|
$6,566
|
|
$11,792
|
|
$19,565
|
|
$25,884
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
|
$16,364
|
|
$10,470
|
|
$46,637
|
|
$41,285
|
|
Gross profit
adjustments
|
|
305
|
|
373
|
|
1,087
|
|
1,639
|
|
Non-GAAP gross
profit
|
|
$16,669
|
|
$10,843
|
|
$47,724
|
|
$42,924
|
|
|
|
|
|
|
|
|
|
GAAP operating
expenses
|
|
$16,581
|
|
$23,133
|
|
$52,963
|
|
$87,306
|
|
Share-based
compensation (1)
|
|
(1,016)
|
|
(1,163)
|
|
(4,085)
|
|
(6,177)
|
|
Non-GAAP operating
expenses
|
|
$15,565
|
|
$21,970
|
|
$48,878
|
|
$81,129
|
|
|
|
|
|
|
|
|
|
GAAP financial and
other income
|
|
$513
|
|
$775
|
|
$1,542
|
|
$2,554
|
|
Exchange rate
differences*
|
|
139
|
|
(47)
|
|
343
|
|
(328)
|
|
Expenses related to
M&A activities (3)
|
|
-
|
|
15
|
|
-
|
|
43
|
|
Non-GAAP Financial and
other income
|
|
$652
|
|
$743
|
|
$1,885
|
|
$2,269
|
|
|
|
|
|
|
|
|
|
GAAP taxes on
income
|
|
$540
|
|
$473
|
|
$1,326
|
|
$988
|
|
Changes in tax related
items
|
|
(45)
|
|
(25)
|
|
(222)
|
|
(75)
|
|
Non-GAAP taxes on
income
|
|
$495
|
|
$448
|
|
$1,104
|
|
$913
|
|
|
|
|
|
|
|
|
|
GAAP Net
Loss
|
|
$(244)
|
|
$(12,361)
|
|
$(6,110)
|
|
$(44,455)
|
|
Share-based
compensation (1)
|
|
1,169
|
|
1,341
|
|
4,716
|
|
7,234
|
|
Amortization of
intangible assets (2)
|
|
152
|
|
195
|
|
456
|
|
582
|
|
Expenses related to
M&A activities (3)
|
|
-
|
|
15
|
|
-
|
|
43
|
|
Exchange rate
differences*
|
|
139
|
|
(47)
|
|
343
|
|
(328)
|
|
Changes in tax related
items
|
|
45
|
|
25
|
|
222
|
|
75
|
|
Non-GAAP Net income
(loss)
|
|
$1,261
|
|
$(10,832)
|
|
$(373)
|
|
$(36,849)
|
|
|
|
|
|
|
|
|
|
GAAP Loss per share
(diluted)
|
|
$(0.01)
|
|
$(0.32)
|
|
$(0.17)
|
|
$(1.18)
|
|
Share-based
compensation
|
|
0.03
|
|
0.03
|
|
0.13
|
|
0.19
|
|
Amortization of
intangible assets
|
|
0.01
|
|
0.01
|
|
0.02
|
|
0.02
|
|
Expenses related to
M&A activities
|
|
-
|
|
0.00
|
|
-
|
|
0.00
|
|
Exchange rate
differences*
|
|
0.00
|
|
(0.00)
|
|
-
|
|
(0.01)
|
|
Changes in tax related
items
|
|
-
|
|
-
|
|
0.00
|
|
-
|
|
Non-GAAP Net income
(loss) per share (diluted)
|
|
$0.03
|
|
$(0.28)
|
|
$(0.02)
|
|
$(0.98)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
computing GAAP diluted
net income (loss) per share
|
|
39,202,550
|
|
38,173,533
|
|
38,777,119
|
|
37,782,281
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number
of shares used in
|
|
|
|
|
|
|
|
|
computing non-GAAP
diluted net income (loss) per share
|
|
42,421,818
|
|
38,173,533
|
|
38,777,119
|
|
37,782,281
|
|
|
|
|
|
|
|
|
|
* 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
|
|
Nine Months Ended
|
|
|
September 30,
|
|
September 30,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
(1) Share-based
compensation:
|
|
|
|
|
|
|
|
Cost of
revenues
|
$153
|
|
$178
|
|
$631
|
|
$1,057
|
|
Research and
development costs, net
|
402
|
|
457
|
|
1,687
|
|
2,413
|
|
Sales and
marketing
|
310
|
|
408
|
|
1,545
|
|
2,178
|
|
General and
administrative
|
304
|
|
298
|
|
853
|
|
1,586
|
|
|
$1,169
|
|
$1,341
|
|
$4,716
|
|
$7,234
|
|
|
|
|
|
|
|
|
|
(2) Amortization of
intangible assets
|
|
|
|
|
|
|
|
Cost of
revenues
|
$152
|
|
$195
|
|
$456
|
|
$582
|
|
|
$152
|
|
$195
|
|
$456
|
|
$582
|
|
|
|
|
|
|
|
|
|
(3) Expenses related to
M&A activities
|
|
|
|
|
|
|
|
Financial
income
|
$-
|
|
$15
|
|
$-
|
|
$43
|
|
|
$-
|
|
$15
|
|
$-
|
|
$43
|
|
TABLE - 3
ALLOT LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED BALANCE
SHEETS
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
|
|
December 31,
|
|
|
2024
|
|
2023
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
ASSETS
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
$28,226
|
|
$14,192
|
|
Short-term bank
deposits
|
|
5,500
|
|
10,000
|
|
Restricted
deposits
|
|
481
|
|
1,728
|
|
Available-for-sale
marketable securities
|
|
20,276
|
|
28,853
|
|
Trade receivables, net
(net of allowance for credit losses of $25,455 and $25,253 on
September 30, 2024 and December 31, 2023, respectively)
|
|
17,370
|
|
14,828
|
|
Other receivables and
prepaid expenses
|
|
6,710
|
|
8,437
|
|
Inventories
|
|
10,049
|
|
11,874
|
|
Total current
assets
|
|
88,612
|
|
89,912
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
Severance pay
fund
|
|
414
|
|
395
|
|
Restricted
deposit
|
|
702
|
|
158
|
|
Operating lease
right-of-use assets
|
|
7,003
|
|
3,057
|
|
Other
assets
|
|
1,039
|
|
704
|
|
Property and equipment,
net
|
|
9,393
|
|
11,189
|
|
Intangible assets,
net
|
|
458
|
|
915
|
|
Goodwill
|
|
31,833
|
|
31,833
|
|
Total non-current
assets
|
|
50,842
|
|
48,251
|
|
|
|
|
|
Total assets
|
|
$139,454
|
|
$138,163
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS'
EQUITY
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
Trade
payables
|
|
$3,124
|
|
$969
|
|
Deferred
revenues
|
|
13,895
|
|
14,892
|
|
Short-term operating
lease liabilities
|
|
1,357
|
|
1,453
|
|
Other payables and
accrued expenses
|
|
19,771
|
|
22,094
|
|
Total current
liabilities
|
|
38,147
|
|
39,408
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
Deferred
revenues
|
|
7,030
|
|
7,437
|
|
Long-term operating
lease liabilities
|
|
5,494
|
|
702
|
|
Accrued severance
pay
|
|
944
|
|
1,080
|
|
Convertible
debt
|
|
39,923
|
|
39,773
|
|
Total long-term
liabilities
|
|
53,391
|
|
48,992
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
47,916
|
|
49,763
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
$139,454
|
|
$138,163
|
|
|
|
|
|
|
|
|
|
|
TABLE - 4
ALLOT LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH
FLOWS
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
September 30,
|
|
September 30,
|
|
|
2024
|
|
2023
|
|
2024
|
|
2023
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
|
$(244)
|
|
$(12,361)
|
|
$(6,110)
|
|
$(44,455)
|
|
Adjustments to
reconcile net income to net cash provided by (used in) operating
activities:
|
|
|
|
|
|
|
Depreciation
|
|
1,097
|
|
1,251
|
|
3,468
|
|
3,898
|
|
Stock-based
compensation
|
|
1,169
|
|
1,341
|
|
4,716
|
|
7,234
|
|
Amortization of
intangible assets
|
|
152
|
|
277
|
|
457
|
|
830
|
|
Increase (Decrease) in
accrued severance pay, net
|
|
10
|
|
6
|
|
(155)
|
|
79
|
|
Decrease (Increase) in
other assets, other receivables and prepaid expenses
|
|
(696)
|
|
(127)
|
|
976
|
|
840
|
|
Increase in accrued
interest and amortization of premium/discount on marketable
securities
|
|
(392)
|
|
(260)
|
|
(1,169)
|
|
(407)
|
|
Increase (Decrease) in
operating leases liability
|
|
(481)
|
|
555
|
|
(1,099)
|
|
(2,477)
|
|
Decrease (Increase) in
operating lease right-of-use asset
|
|
675
|
|
(934)
|
|
1,849
|
|
2,005
|
|
Decrease (Increase) in
trade receivables
|
|
438
|
|
9,600
|
|
(2,542)
|
|
24,489
|
|
Decrease (Increase) in
inventories
|
|
(443)
|
|
4,321
|
|
1,825
|
|
(777)
|
|
Increase (Decrease) in
trade payables
|
|
2,139
|
|
(5,633)
|
|
2,155
|
|
(7,835)
|
|
Increase (Decrease) in
employees and payroll accruals
|
|
1,575
|
|
(2,751)
|
|
(2,560)
|
|
(5,245)
|
|
Decrease in deferred
revenues
|
|
(3,369)
|
|
(1,676)
|
|
(1,404)
|
|
(2,975)
|
|
Increase in other
payables, accrued expenses and other long term
liabilities
|
|
203
|
|
1,913
|
|
191
|
|
89
|
|
Amortization of
issuance costs of Convertible debt
|
|
50
|
|
50
|
|
150
|
|
148
|
|
Net cash provided by
(used in) operating activities
|
|
1,883
|
|
(4,428)
|
|
748
|
|
(24,559)
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (Increase) in
restricted deposit
|
|
-
|
|
192
|
|
703
|
|
(32)
|
|
Investment in
short-term bank deposits
|
|
(5,500)
|
|
-
|
|
(9,300)
|
|
(15,900)
|
|
Withdrawal of
short-term bank deposits
|
|
3,800
|
|
16,465
|
|
13,800
|
|
71,065
|
|
Purchase of property
and equipment
|
|
(286)
|
|
(1,308)
|
|
(1,672)
|
|
(1,868)
|
|
Investment in
marketable securities
|
|
(9,532)
|
|
(16,111)
|
|
(44,284)
|
|
(34,678)
|
|
Proceeds from
redemption or sale of marketable securities
|
|
21,980
|
|
11,225
|
|
54,040
|
|
15,185
|
|
Net cash provided by
investing activities
|
|
10,462
|
|
10,463
|
|
13,287
|
|
33,772
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from exercise
of stock options
|
|
(2)
|
|
1
|
|
(1)
|
|
1
|
|
Net cash provided by
(used in) financing activities
|
|
(2)
|
|
1
|
|
(1)
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in cash and
cash equivalents
|
|
12,343
|
|
6,036
|
|
14,034
|
|
9,214
|
|
Cash and cash
equivalents at the beginning of the period
|
|
15,883
|
|
15,473
|
|
14,192
|
|
12,295
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
|
$28,226
|
|
$21,509
|
|
$28,226
|
|
$21,509
|
|
|
|
|
|
|
|
Non-cash
activity:
|
|
|
|
|
|
|
Right-of-use assets
obtained in the exchange for operating lease liabilities
|
|
$5,795
|
|
$77
|
|
$5,795
|
|
$77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
|
|
|
|
|
|
|
|
|
|
|
Q3-2024
|
|
YTD 2024
|
|
FY 2023
|
|
|
Revenues geographic breakdown
|
|
|
|
|
|
|
|
|
Americas
|
|
3.4
|
15 %
|
9.8
|
15 %
|
16.6
|
18 %
|
|
EMEA
|
|
14.6
|
62 %
|
38.2
|
56 %
|
56.1
|
60 %
|
|
Asia Pacific
|
|
5.2
|
23 %
|
19.3
|
29 %
|
20.5
|
22 %
|
|
|
|
23.2
|
100 %
|
67.3
|
100 %
|
93.2
|
100 %
|
|
|
|
|
|
|
|
|
|
|
Revenues breakdown by type
|
|
|
|
|
|
|
|
Products
|
|
8.3
|
36 %
|
25.1
|
37 %
|
37.6
|
40 %
|
|
Professional
Services
|
|
1.4
|
6 %
|
5.6
|
8 %
|
6.1
|
7 %
|
|
SECaaS (Security as a
Service)
|
|
4.7
|
20 %
|
11.8
|
18 %
|
10.6
|
11 %
|
|
Support &
Maintenance
|
|
8.8
|
38 %
|
24.8
|
37 %
|
38.9
|
42 %
|
|
|
|
23.2
|
100 %
|
67.3
|
100 %
|
93.2
|
100 %
|
|
|
|
|
|
|
|
|
|
|
Revenues per customer type
|
|
|
|
|
|
|
|
|
CSP
|
|
18.7
|
81 %
|
54.7
|
81 %
|
75.1
|
81 %
|
|
Enterprise
|
|
4.5
|
19 %
|
12.6
|
19 %
|
18.1
|
19 %
|
|
|
|
23.2
|
100 %
|
67.3
|
100 %
|
93.2
|
100 %
|
|
|
|
|
|
|
|
|
|
|
Top 10 customers as a %
of revenues
|
|
45 %
|
|
40 %
|
|
47 %
|
|
|
|
|
|
|
|
|
|
|
|
Total number of full
time employees
|
|
508
|
|
508
|
|
559
|
|
|
(end of
period)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP Weighted
average number of basic shares (in millions)
|
|
|
|
|
|
|
|
39.2
|
|
38.8
|
|
37.9
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP weighted
average number of fully diluted shares (in
millions)
|
42.4
|
|
41.6
|
|
40.3
|
|
|
|
|
SECaaS (Security as a
Service) revenues- U.S. dollars in millions
(Unaudited)
|
|
|
|
Q3-2024:
|
4.7
|
|
Q2-2024:
|
3.7
|
|
Q1-2024:
|
3.4
|
|
Q4-2023:
|
3.2
|
|
Q3-2023:
|
2.8
|
|
|
|
SECaaS ARR* - U.S. dollars in millions
(Unaudited)
|
|
|
|
Sep. 2024:
|
17.2
|
|
Dec. 2023:
|
12.7
|
|
Dec. 2022:
|
9.2
|
|
Dec. 2021:
|
5.2
|
|
|
|
|
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SOURCE Allot Ltd.
