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Hod Hasharon, Israel, March 06, 2024 (GLOBE NEWSWIRE) -- Allot Ltd. (NASDAQ:ALLT) (TASE: ALLT), a leading global provider of innovative network intelligence and converged network-native security solutions for communication service providers and enterprises, today announced that Frost & Sullivan has recognized Allot as the 2024 Customer Value Leader in the SOHO and consumer space for its contribution to CSP security. Frost & Sullivan Best Practices Awards recognize companies in various regional and global ma ...

Financial Data and Key Metrics Changes - Q4 2023 revenues were $24.3 million, a decrease of 26% compared to the same quarter last year [5] - Total revenues for the full year 2023 were $93.1 million, down 24% from 2022 [5] - Cash and equivalents as of December 31, 2023, were $54.9 million, down from $86.4 million at the end of 2022 [6] - Backlog as of December 31, 2023, was $58.8 million, down from $87.7 million at the end of 2022 [6] - Non-GAAP operating loss for 2023 was $55.2 million compared to a loss of $23.1 million in 2022 [6] Business Line Data and Key Metrics Changes - SECaaS ARR was $12.7 million as of December 2023, up 20% from September 2023 and 38% higher than December 2022 [5] - The transition to the SECaaS recurring revenue model has been slower than anticipated, with cancellations from two large operators impacting revenues [7] - The core DPI business faced macro-related headwinds, leading to lower bookings and revenues than expected [8] Market Data and Key Metrics Changes - In 2023, approximately 60% of revenues came from EMEA, 18% from America, and 22% from Asia [31] - The company is shifting focus towards developing countries and lower ARPU markets due to more significant growth opportunities [24][29] Company Strategy and Development Direction - The company aims to reach breakeven in 2024 while investing in profitable multiyear growth [12][19] - A conservative approach is being taken for planned bookings and revenues, focusing on a larger pipeline of large deals in government and emerging markets [15] - The company is reallocating resources to target specific market segments, including fixed wireless access and small Tier 3 or 4 CSPs [16] Management's Comments on Operating Environment and Future Outlook - Management expressed commitment to turning the situation around and stopping losses in 2024 [9] - The SECaaS business is expected to continue growing, with a focus on existing customers and expanding service offerings [17][40] - The company anticipates cash levels to stabilize around $50 million before increasing by the end of 2024 [20] Other Important Information - The company underwent significant cost-cutting measures, reducing full-time employees from 749 at the end of 2022 to 559 by the end of 2023 [6][12] - An executive committee was formed to identify opportunities for improvement and enhance shareholder value [11] Q&A Session Summary Question: Shift in focus towards CSPs and emerging markets - Management noted that CSPs in developed countries are embracing the cloud, leading to fewer opportunities, while developing countries present more significant growth potential [24] Question: Refresh opportunities within mature markets - There are some refresh opportunities, but they are less than in the past, with new use cases emerging in fixed wireless access [26][27] Question: DPI revenue from emerging markets - Approximately 60% of revenues derived from EMEA, with established sales in emerging markets expected to grow in 2024 [31][33] Question: Improvement in DPI pipeline and deal closures - Management indicated a larger pipeline of large deals but cautioned that it is premature to say the market is healthier or that close rates have improved [36] Question: Performance of Verizon deal - The Verizon launch is performing according to plan, with discussions for expanding market segments ongoing [38] Question: Trends in SECaaS business - Most launched SECaaS services are performing well, and the company is focusing on a smaller number of new customers to ensure successful conversions [40]

Allot Communications (ALLT) came out with a quarterly loss of $0.43 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -207.14%. A quarter ago, it was expected that this internet protocol services company would post a loss of $0.35 per share when it actually produced a loss of $0.28, delivering a surprise of 20%.Over the last four qua ...

Core Viewpoint - Allot Ltd. reported a challenging financial performance for Q4 and full-year 2023, with significant revenue declines and net losses, while emphasizing growth in its Security as a Service (SECaaS) segment. Financial Highlights - Q4 2023 revenues were $24.3 million, a decrease of 26.3% from $33.0 million in Q4 2022 [5] - Full-year 2023 revenues totaled $93.2 million, down 24.1% from $122.7 million in 2022 [7] - SECaaS revenues for Q4 were $3.2 million, up 41.5% year-over-year, and for FY 2023 were $10.6 million, an increase of 48.4% year-over-year [2] - Q4 GAAP net loss was $18.3 million, or $0.48 per share, compared to a net loss of $6.7 million, or $0.18 per share, in Q4 2022 [5][6] - Full-year 2023 GAAP net loss was $62.8 million, or $1.66 per share, compared to a net loss of $32.0 million, or $0.87 per share, in 2022 [8] Management Outlook - For 2024, management expects to achieve non-GAAP operating profit and free cash flow breakeven [3] - Continued double-digit growth in SECaaS revenues and Annual Recurring Revenue (ARR) is anticipated [3] Management Commentary - CEO Erez Antebi highlighted the significant challenges faced in 2023 due to macroeconomic conditions and service provider spending, while emphasizing efforts to align expenses with expected revenue levels [4] Performance Metrics - As of December 31, 2023, SECaaS ARR was $12.7 million [2] - Cash, short-term bank deposits, and investments totaled $54.9 million, down from $86.4 million as of December 31, 2022 [8]

HOD HASHARON, Israel , Jan. 11, 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 preliminary unaudited financial results for the year ended December 31, 2023. Allot expects revenues, SECaaS revenues, and Total ARR to be within the guidance range the company provided on November 16, 2023. As of December 31, 2023, cash, bank deposits, and marketable ...

Allot Ltd. (NASDAQ:ALLT) Q3 2023 Earnings Conference Call November 22, 2023 8:30 AM ET Company Participants Kenny Green - IR, E.K. Global IR Erez Antebi - President & CEO Ziv Leitman - CFO Conference Call Participants Max Michaelis - Lake Street Nehal Chokshi - Northland Capital Markets Marc Silk - Silk Investment Advisors Rory Wallace - Outerbridge Capital Operator Ladies and gentlemen, thank you for standing by. Welcome to Allot's Third Quarter 2023 Results Conference Call. All participants are at present ...

Allot Ltd. (NASDAQ:ALLT) Q2 2023 Earnings Conference Call August 31, 2023 8:30 AM ET Company Participants Kenny Green - Investor Relations, E.K. Global Investor Relations Erez Antebi - President and Chief Executive Officer Ziv Leitman - Chief Financial Officer Conference Call Participants Eric Martinuzzi - Lake Street Nehal Chokshi - Northland Capital Markets Marc Silk - Silk Investment Advisors Rory Wallace - Outerbridge Operator Ladies and gentlemen, thank you for standing by. Welcome to Allot's Second Qu ...

Exhibit 99.1 Allot Announces Q2 2023 Financial Results and Cost Reduction Plan Hod Hasharon, Israel – August 31, 2023 - 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 ended June 30, 2023. Q2 Financial Highlights • Second quarter revenues were $25.0 million; • SECaaS revenues were $2.4 million; June 2023 SECaaS ARR* ...

Allot Ltd. (NASDAQ:ALLT) Q1 2023 Earnings Conference Call May 16, 2023 8:30 AM ET Company Participants Kenny Green - EK Global, Investor Relations Erez Antebi - President and Chief Executive Officer Ziv Leitman - Chief Financial Officer Conference Call Participants Eric Martinuzzi - Lake Street Capital Markets, LLC Nehal Chokshi - Northland Capital Markets Marc Silk - Silk Investment Advisors Operator Ladies and gentlemen, thank you for standing by. Welcome to Allot's First Quarter 2023 Results Conference C ...