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.
