HOD HASHARON, Israel, Feb. 15, 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 fourth quarter and full-year 2023 financial results.
![Allot Logo Allot Logo](https://mma.prnewswire.com/media/703889/Allot_Logo.jpg)
Financial Highlights
- Fourth quarter revenues were $24.3 million and full-year 2023 revenues were $93.2 million;
- SECaaS revenues were $3.2 million for Q4 and $10.6 million for FY 2023, up 41.5% and 48.4% year-over-year respectively.
- December 2023 SECaaS ARR* was $12.7 million;
- Q4 GAAP net loss was $18.3 million and non-GAAP net loss was $16.4 million, including a credit loss provision for 2 specific customers of approximately $9 million; the full year 2023 GAAP net loss was $62.8 million and non-GAAP net loss was $53.3 million, including a credit loss provision of approximately $23 million;
Financial Outlook
Looking ahead to 2024, management expectations are as follows:
- Full-year 2024 non-GAAP operating profit and free cash flow breakeven
- Continued double-digit growth of SECaaS revenues and ARR
Management Comment
Erez Antebi, President & CEO of Allot, commented, “2023 represented a year with significant challenges on multiple fronts. While the macro economic environment and service provider spending remain challenging, we are controlling what we can control. As we announced in prior quarters, we have taken aggressive actions to align our expense footprint with the expected revenue level going ahead. Our goal is to bring the business back to profitability while investing in our long-term growth engine, Security as a Service (SECaaS).”
The Company also announces that Mr. Manuel Echanove is stepping down from the Board to focus on other opportunities.
Q4 2023 Financial Results Summary
Total revenues for the fourth quarter of 2023 were $24.3 million, a decrease of 26.3% compared to $33.0 million in the fourth quarter of 2022.
Gross profit on a GAAP basis for the fourth quarter of 2023 was $11.4 million (gross margin of 46.8%), a 47.9% decline compared with $21.9 million (gross margin of 66.3%) in the fourth quarter of 2022.
Gross profit on a non-GAAP basis for the fourth quarter of 2023 was $12.6 million (gross margin of 51.7%), a 43.7% decline compared with $22.4 million (gross margin of 67.7%) in the fourth quarter of 2022. The fourth quarter gross margin level was negatively impacted by a one-time write-off.
Net loss on a GAAP basis for the fourth quarter of 2023 was $18.3 million, or $0.48 per basic share, compared with a net loss of $6.7 million, or $0.18 per basic share, in the fourth quarter of 2022.
Net loss on a non-GAAP for the fourth quarter of 2023 was $16.4 million, or $0.43 per basic share compared with a non-GAAP net loss of $4.9 million, or $0.13 per basic share, in the fourth quarter of 2022. A credit loss provision for 2 specific customers of approximately $9 million increased the fourth quarter expenses.
Full Year 2023 Financial Results Summary
Total revenues for 2023 were $93.2 million, a 24.1% decrease compared to $122.7 million in 2022.
Gross profit on a GAAP basis for 2023 was $52.7 million (gross margin of 56.6%), a 36.5% decline compared with $82.9 million (gross margin of 67.5%) in 2022.
Gross profit on a non-GAAP basis for 2023 was $55.5 million (gross margin of 59.6%), a 34.4% decline compared with $84.7 million (gross margin of 69%) in 2022.
Net loss on a GAAP basis for 2023 was $62.8 million, or $1.66 per basic share, compared with a net loss of $32.0 million, or $0.87 per basic share, in 2022.
Net loss on a non-GAAP basis for 2023 was $53.3 million, or $1.41 per basic share, compared with a net loss of $23.2 million, or $0.63 per basic share, in 2022. A credit loss provision of approximately $23 million increased the 2023 expenses.
Cash, short-term bank deposits, and investments as of December 31, 2023, totaled $54.9 million, compared to $86.4 million as of December 31, 2022.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss its fourth quarter and full year 2023 earnings results today, February 15, 2024, at 8:30 am ET, 3:30 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
* Total ARR – Support & Maintenance ARR (measures the current annual run rate of support & maintenance revenues, which is calculated based on the expected revenues for the fourth quarter of 2023, excluding one-time items, and multiplied by 4) and SECaaS ARR (measures the current annual run rate of SECaaS revenues, which is calculated based on estimated revenues for the month of Dec. 2023 and multiplied by 12).
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
|
Public Relations Contact: Seth Greenberg, Allot Ltd. +972 54 922 2294
|
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 |
Year Ended |
|||||||
December 31, |
December 31, |
|||||||
2023 |
2022 |
2023 |
2022 |
|||||
(Unaudited) |
(Unaudited) |
(Audited) |
||||||
Revenues |
$ 24,342 |
$ 33,029 |
$ 93,150 |
$ 122,737 |
||||
Cost of revenues |
12,941 |
11,134 |
40,464 |
39,831 |
||||
Gross profit |
11,401 |
21,895 |
52,686 |
82,906 |
||||
Operating expenses: |
||||||||
Research and development costs, net |
7,942 |
12,371 |
39,115 |
49,800 |
||||
Sales and marketing |
12,057 |
12,881 |
43,850 |
49,393 |
||||
General and administrative |
10,316 |
3,703 |
34,656 |
15,982 |
||||
Total operating expenses |
30,315 |
28,955 |
117,621 |
115,175 |
||||
Operating loss |
(18,914) |
(7,060) |
(64,935) |
(32,269) |
||||
Financial and other income, net |
661 |
796 |
3,215 |
2,134 |
||||
Loss before income tax expenses |
(18,253) |
(6,264) |
(61,720) |
(30,135) |
||||
Tax expenses |
96 |
474 |
1,084 |
1,895 |
||||
Net Loss |
(18,349) |
(6,738) |
(62,804) |
(32,030) |
||||
Basic net loss per share |
$ (0.48) |
$ (0.18) |
$ (1.66) |
$ (0.87) |
||||
Diluted net loss per share |
$ (0.48) |
$ (0.18) |
$ (1.66) |
$ (0.87) |
||||
Weighted average number of shares used in |
||||||||
computing basic net loss per share |
38,293,808 |
37,325,971 |
37,911,214 |
36,975,424 |
||||
Weighted average number of shares used in |
||||||||
computing diluted net loss per share |
38,293,808 |
37,325,971 |
37,911,214 |
36,975,424 |
||||
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 |
Year Ended |
|||||||
December 31, |
December 31, |
|||||||
2023 |
2022 |
2023 |
2022 |
|||||
(Unaudited) |
(Unaudited) |
|||||||
GAAP cost of revenues |
$ 12,941 |
$ 11,134 |
$ 40,464 |
$ 39,831 |
||||
Share-based compensation (1) |
(162) |
(323) |
(1,219) |
(1,133) |
||||
Amortization of intangible assets (2)** |
(1,024) |
(157) |
(1,606) |
(613) |
||||
Non-GAAP cost of revenues |
$ 11,755 |
$ 10,654 |
$ 37,639 |
$ 38,085 |
||||
GAAP gross profit |
$ 11,401 |
$ 21,895 |
$ 52,686 |
$ 82,906 |
||||
Gross profit adjustments |
1,186 |
480 |
2,825 |
1,746 |
||||
Non-GAAP gross profit |
$ 12,587 |
$ 22,375 |
$ 55,511 |
$ 84,652 |
||||
GAAP operating expenses |
$ 30,315 |
$ 28,955 |
$ 117,621 |
$ 115,175 |
||||
Share-based compensation (1) |
(1,449) |
(1,966) |
(7,626) |
(8,032) |
||||
Amortization of intangible assets (2)** |
– |
– |
– |
– |
||||
Income related to M&A activities (3) |
699 |
274 |
699 |
274 |
||||
Changes in taxes and headcount related items (4) |
– |
325 |
– |
325 |
||||
Non-GAAP operating expenses |
$ 29,565 |
$ 27,588 |
$ 110,694 |
$ 107,742 |
||||
GAAP financial and other income |
$ 661 |
$ 796 |
$ 3,215 |
$ 2,134 |
||||
Exchange rate differences* |
(50) |
(85) |
(378) |
(442) |
||||
Expenses related to M&A activities (3) |
– |
4 |
43 |
4 |
||||
Non-GAAP Financial and other income |
$ 611 |
$ 715 |
$ 2,880 |
$ 1,696 |
||||
GAAP taxes on income |
$ 96 |
$ 474 |
$ 1,084 |
$ 1,895 |
||||
Changes in tax related items |
(25) |
(25) |
(100) |
(100) |
||||
Non-GAAP taxes on income |
$ 71 |
$ 449 |
$ 984 |
$ 1,795 |
||||
GAAP Net Loss |
$ (18,349) |
$ (6,738) |
$ (62,804) |
$ (32,030) |
||||
Share-based compensation (1) |
1,611 |
2,289 |
8,845 |
9,165 |
||||
Amortization of intangible assets (2)** |
1,024 |
157 |
1,606 |
613 |
||||
Income related to M&A activities (3) |
(699) |
(270) |
(656) |
(270) |
||||
Changes in taxes and headcount related items (4) |
– |
(325) |
– |
(325) |
||||
Exchange rate differences* |
(50) |
(85) |
(378) |
(442) |
||||
Changes in tax related items |
25 |
25 |
100 |
100 |
||||
Non-GAAP Net income (loss) |
$ (16,438) |
$ (4,947) |
$ (53,287) |
$ (23,189) |
||||
GAAP Loss per share (diluted) |
$ (0.48) |
$ (0.18) |
$ (1.66) |
$ (0.87) |
||||
Share-based compensation |
0.04 |
0.06 |
0.23 |
0.25 |
||||
Amortization of intangible assets** |
0.03 |
0.01 |
0.05 |
0.02 |
||||
Income related to M&A activities |
(0.02) |
(0.01) |
(0.02) |
(0.01) |
||||
Changes in taxes and headcount related items |
– |
(0.01) |
– |
(0.01) |
||||
Exchange rate differences* |
(0.00) |
(0.00) |
(0.01) |
(0.01) |
||||
Non-GAAP Net income (loss) per share (diluted) |
$ (0.43) |
$ (0.13) |
$ (1.41) |
$ (0.63) |
||||
Weighted average number of shares used in |
||||||||
computing GAAP diluted net loss per share |
38,293,808 |
37,325,971 |
37,911,214 |
36,975,424 |
||||
Weighted average number of shares used in |
||||||||
computing non-GAAP diluted net loss per share |
38,293,808 |
37,325,971 |
37,911,214 |
36,975,424 |
||||
* Financial income or expenses related to exchange rate differences in connection with revaluation of assets and |
||||||||
liabilities in non-dollar denominated currencies. |
||||||||
** While amortization of acquired intangible assets is excluded from the measures, the revenue of the acquired |
||||||||
companies is reflected in the measures and the acquired assets contribute to revenue generation. |
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 |
Year Ended |
|||||||
December 31, |
December 31, |
|||||||
2023 |
2022 |
2023 |
2022 |
|||||
(Unaudited) |
(Unaudited) |
|||||||
(1) Share-based compensation: |
||||||||
Cost of revenues |
$ 162 |
$ 323 |
$ 1,219 |
$ 1,133 |
||||
Research and development costs, net |
597 |
775 |
3,010 |
3,168 |
||||
Sales and marketing |
473 |
684 |
2,651 |
2,943 |
||||
General and administrative |
379 |
507 |
1,965 |
1,921 |
||||
$ 1,611 |
$ 2,289 |
$ 8,845 |
$ 9,165 |
|||||
(2) Amortization of intangible assets |
||||||||
Cost of revenues |
$ 1,024 |
$ 157 |
$ 1,606 |
$ 613 |
||||
$ 1,024 |
$ 157 |
$ 1,606 |
$ 613 |
|||||
(3) Expenses (Income) related to M&A activities |
||||||||
General and administrative |
$ (699) |
$ – |
$ (699) |
$ – |
||||
Research and development costs, net |
– |
(274) |
– |
(274) |
||||
Finanacial expensees (income) |
– |
4 |
43 |
4 |
||||
$ (699) |
$ (270) |
$ (656) |
$ (270) |
|||||
(4) Changes in taxes and headcount related items |
||||||||
Sales and marketing |
$ – |
$ (325) |
$ – |
$ (325) |
||||
$ – |
$ (325) |
$ – |
$ (325) |
|||||
TABLE – 3 |
||||
ALLOT LTD. |
||||
AND ITS SUBSIDIARIES |
||||
CONSOLIDATED BALANCE SHEETS |
||||
(U.S. dollars in thousands) |
||||
December 31, |
December 31, |
|||
2023 |
2022 |
|||
(Unaudited) |
(Audited) |
|||
ASSETS |
||||
CURRENT ASSETS: |
||||
Cash and cash equivalents |
$ 14,192 |
$ 12,295 |
||
Short-term bank deposits |
10,000 |
68,765 |
||
Restricted deposits |
1,728 |
1,050 |
||
Available-for-sale marketable securities |
28,853 |
4,293 |
||
Trade receivables, net (net of allowance for credit losses of |
14,828 |
44,167 |
||
Other receivables and prepaid expenses |
8,422 |
7,985 |
||
Inventories |
11,874 |
13,262 |
||
Total current assets |
89,897 |
151,817 |
||
LONG-TERM ASSETS: |
||||
Restricted deposit |
158 |
– |
||
Severance pay fund |
395 |
371 |
||
Operating lease right-of-use assets |
3,057 |
5,387 |
||
Trade receivables, net |
– |
4,934 |
||
Other assets |
562 |
864 |
||
Total long-term assets |
4,172 |
11,556 |
||
PROPERTY AND EQUIPMENT, NET |
11,189 |
14,236 |
||
GOODWILL AND INTANGIBLE ASSETS, NET |
32,748 |
35,344 |
||
Total assets |
$ 138,006 |
$ 212,953 |
||
LIABILITIES AND SHAREHOLDERS’ EQUITY |
||||
CURRENT LIABILITIES: |
||||
Trade payables |
$ 969 |
$ 11,661 |
||
Deferred revenues |
14,892 |
20,825 |
||
Short-term operating lease liabilities |
1,453 |
2,542 |
||
Other payables and accrued expenses |
21,937 |
25,573 |
||
Total current liabilities |
39,251 |
60,601 |
||
LONG-TERM LIABILITIES: |
||||
Deferred revenues |
7,437 |
7,285 |
||
Long-term operating lease liabilities |
702 |
2,579 |
||
Accrued severance pay |
1,080 |
940 |
||
Convertible debt |
39,773 |
39,575 |
||
Total long-term liabilities |
48,992 |
50,379 |
||
SHAREHOLDERS’ EQUITY |
49,763 |
101,973 |
||
Total liabilities and shareholders’ equity |
$ 138,006 |
$ 212,953 |
||
TABLE – 4 |
|||||||
ALLOT LTD. |
|||||||
AND ITS SUBSIDIARIES |
|||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS |
|||||||
(U.S. dollars in thousands) |
|||||||
Three Months Ended |
Year Ended |
||||||
December 31, |
December 31, |
||||||
2023 |
2022 |
2023 |
2022 |
||||
(Unaudited) |
(Unaudited) |
(Audited) |
|||||
Cash flows from operating activities: |
|||||||
Net Loss |
$ (18,349) |
$ (6,738) |
$ (62,804) |
$ (32,030) |
|||
Adjustments to reconcile net income to net cash used in operating activities: |
|||||||
Depreciation |
1,638 |
2,287 |
5,536 |
6,406 |
|||
Stock-based compensation |
1,611 |
2,288 |
8,845 |
9,165 |
|||
Amortization of intangible assets |
1,766 |
241 |
2,596 |
946 |
|||
Increase in accrued severance pay, net |
37 |
57 |
116 |
92 |
|||
Decrease in other assets |
636 |
196 |
302 |
775 |
|||
Decrease (Increase) in accrued interest and amortization of premium on marketable securities |
(305) |
(13) |
(712) |
71 |
|||
Changes in operating leases, net |
(164) |
979 |
(636) |
(5) |
|||
Decrease (Increase) in trade receivables |
9,784 |
(7,189) |
34,273 |
(11,629) |
|||
Decrease (Increase) in other receivables and prepaid expenses |
(698) |
(338) |
476 |
(55) |
|||
Decrease (Increase) in inventories |
2,165 |
(586) |
1,388 |
(2,170) |
|||
Increase (Decrease) in trade payables |
(2,857) |
5,608 |
(10,692) |
7,721 |
|||
Increase (Decrease) in employees and payroll accruals |
1,115 |
1,873 |
(4,130) |
(385) |
|||
Decrease in deferred revenues |
(2,806) |
(6,815) |
(5,781) |
(9,970) |
|||
Increase (Decrease) in other payables, accrued expenses and other long term liabilities |
1,200 |
(1,586) |
1,289 |
(1,668) |
|||
Amortization of issuance costs of Convertible debt |
50 |
50 |
198 |
171 |
|||
Net cash used in operating activities |
(5,177) |
(9,686) |
(29,736) |
(32,565) |
|||
Cash flows from investing activities: |
|||||||
Decrease (Increase) in restricted deposit |
(804) |
50 |
(836) |
430 |
|||
Redemption of (Investment in) short-term deposits |
3,600 |
15,350 |
58,765 |
(7,830) |
|||
Purchase of property and equipment |
(621) |
(1,507) |
(2,489) |
(5,642) |
|||
Acquisitions, net of Cash acquired, and other |
– |
(500) |
– |
(500) |
|||
Investment in available-for sale marketable securities |
(12,064) |
– |
(46,742) |
– |
|||
Proceeds from redemption or sale of available-for sale marketable securities |
7,750 |
– |
22,935 |
7,030 |
|||
Net cash provided by (used in) investing activities |
(2,139) |
13,393 |
31,633 |
(6,512) |
|||
Cash flows from financing activities: |
|||||||
Proceeds from exercise of stock options |
(1) |
1 |
– |
251 |
|||
Issuance of convertible debt |
– |
– |
– |
39,404 |
|||
Net cash provided by (used in) financing activities |
(1) |
1 |
– |
39,655 |
|||
Increase (Decrease) in cash and cash equivalents |
(7,317) |
3,708 |
1,897 |
578 |
|||
Cash and cash equivalents at the beginning of the period |
21,509 |
8,587 |
12,295 |
11,717 |
|||
Cash and cash equivalents at the end of the period |
$ 14,192 |
$ 12,295 |
$ 14,192 |
$ 12,295 |
|||
Other financial metrics (Unaudited) |
||||||||
U.S. dollars in millions, except number of full time employees, % of top-10 end- |
||||||||
Q4-2023 |
FY 2023 |
FY 2022 |
||||||
Revenues geographic breakdown |
||||||||
Americas |
3.8 |
16 % |
16.6 |
18 % |
21.8 |
18 % |
||
EMEA |
14.4 |
59 % |
56.1 |
60 % |
71.2 |
58 % |
||
Asia Pacific |
6.1 |
25 % |
20.5 |
22 % |
29.7 |
24 % |
||
24.3 |
100 % |
93.2 |
100 % |
122.7 |
100 % |
|||
Revenue breakdown by type |
||||||||
Products |
10.7 |
44 % |
37.6 |
40 % |
61.1 |
50 % |
||
Professional Services |
1.1 |
5 % |
6.1 |
7 % |
11.6 |
9 % |
||
SECaaS (Security as a Service) |
3.2 |
13 % |
10.6 |
11 % |
7.2 |
6 % |
||
Support & Maintenance |
9.3 |
38 % |
38.9 |
42 % |
42.8 |
35 % |
||
24.3 |
100 % |
93.2 |
100 % |
122.7 |
100 % |
|||
Revenues per customer type |
||||||||
CSP |
19.7 |
81 % |
75.1 |
81 % |
98.3 |
80 % |
||
Enterprise |
4.6 |
19 % |
18.1 |
19 % |
24.4 |
20 % |
||
24.3 |
100 % |
93.2 |
100 % |
122.7 |
100 % |
|||
Security revenues |
21.7 |
28.5 |
||||||
Backlog (end of period) |
58.8 |
87.7 |
||||||
% of top-10 end-customers out of revenues |
63 % |
47 % |
44 % |
|||||
Total number of full time employees |
559 |
559 |
749 |
|||||
(end of period) |
||||||||
Non-GAAP Weighted average number of basic shares (in |
38.3 |
37.9 |
37.0 |
|||||
Non-GAAP weighted average number of fully diluted |
40.5 |
40.3 |
39.5 |
|||||
SECaaS (Security as a Service) revenues– U.S. dollars in millions (Unaudited) |
||||||||||||
Q4-2023: |
3.2 |
|||||||||||
Q3-2023: |
2.8 |
|||||||||||
Q2-2023: |
2.4 |
|||||||||||
Q1-2023: |
2.3 |
|||||||||||
Q4-2022: |
2.2 |
|||||||||||
SECaaS ARR* (annualized recurring revenues)- U.S. dollars in millions (Unaudited) |
||||||||||||
Dec. 2023: |
12.7 |
|||||||||||
Dec. 2022: |
9.2 |
|||||||||||
Dec. 2021: |
5.2 |
|||||||||||
Dec. 2020: |
2.7 |
|||||||||||
*ARR: annualized recurring SECaaS revenues, calculated based on the monthly revenues multiplied by 12 |
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SOURCE Allot Ltd.