HOD HASHARON, Israel, May 29, 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 first quarter 2024 financial results.Financial Highlights for the First QuarterFirst quarter revenues were $21.9 million, up 4% year-over-year;First quarter gross margins improved year over year by 8.1% to 69.0% on a GAAP basis and by 4.7% to 70.4% on a non- ...

Hod Hasharon, Israel, May 29, 2024 (GLOBE NEWSWIRE) -- 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 the appointment of Mrs. Liat Nahum as the new Chief Financial Officer of the Company. Nahum, who will join Allot on July 1st, 2024, brings with her significant financial and international management experience from leadership roles at publicly listed technology compan ...

Hod Hasharon, Israel, May 29, 2024 (GLOBE NEWSWIRE) -- 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 the appointment of Mrs. Liat Nahum as the new Chief Financial Officer of the Company. Nahum, who will join Allot on July 1st, 2024, brings with her significant financial and international management experience from leadership roles at publicly listed technology compani ...

Hod Hasharon, Israel, May 09, 2024 (GLOBE NEWSWIRE) -- Allot Ltd. (NASDAQ:ALLT, TASE: ALLT))), a leading global provider of innovative network intelligence and security-as-a-service (SECaaS) solutions for communication service providers (CSPs) and enterprises, announced today that it will host a conference call to discuss its first quarter 2024 results on Wednesday, May 29, 2024 at 9:00AM ET (2:00PM UK, 4:00PM Israel). The unaudited financial results of the quarter will be published prior to the commenceme ...

Hod Hasharon, Israel, May 06, 2024 (GLOBE NEWSWIRE) -- 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 the appointment of Eyal Harari as its Chief Executive Officer effective May 6, 2024.  He will be replacing Mr. Erez Antebi.  At the request of the company's Board of Directors, Mr. Antebi has agreed to assist Mr. Harari during a transition period and thereafter, to co ...

Hod Hasharon, Israel, April 11, 2024 (GLOBE NEWSWIRE) -- 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 that its Chief Financial Officer, Ziv Leitman, is leaving the company to assume the position of Chief Financial Officer at a promising start up company in a different field of activity. The Company has commenced a formal search for a new Chief Financial Officer. To ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Ordinary Shares, par value ILS 0.10 per share ALLT The Nasdaq Stock Market, LLC FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSU ...

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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]