Business
Allot Announces First Quarter 2019 Financial Results
HOD HASHARON, Israel, May 14, 2019 /PRNewswire/ -- Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a global provider of leading innovative network intelligence and
About this update from Allot Ltd.
[{"type":"text","content":"HOD HASHARON, Israel, May 14, 2019 /PRNewswire/ -- Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a global provider of leading innovative network intelligence and security solutions for service providers worldwide, today announced its first quarter 2019 financial results.\n\n \n First Quarter 2019 – Financial Highlights\nRevenues were $25.3 million, up 17% year-over-year; GAAP gross margin improved to 71.2% up from 68.1% in Q1 2018; Non-GAAP gross margin improved to 72.4% up from 69.6% in Q1 2018; GAAP operating loss narrowed to $3.3 million compared to $3.5 million in Q1 2018; Non-GAAP operating loss narrowed to $1.8 million compared to $2.3 million in Q1 2018; Financial Outlook\nManagement maintains its 2019 expectations of revenues between $106-110 million, representing continued double-digit year-over-year growth; Continue to expect full year 2019 book to bill ratio at above 1; Management goal to sign security OPEX deals with an aggregate MAR (Maximum Annual Revenue) of $100M during 2019, remains unchanged.Management Comment\nErez Antebi, President & CEO of Allot, commented: \"We are pleased with the continued strong year-over-year growth in revenue as well as the improvement in profitability parameters in the quarter, and we are on target with our longer-term goals. Our momentum in the quarter remained positive and includes the win of a contract to provide a full suite of solutions comprising of network-based traffic management and network security solutions to Rakuten Mobile in Japan. Our pipeline of potential security OPEX deals remains strong and we are actively working to close further deals. We look forward to continued and sustainable growth in 2019 and beyond.\"\nQ1 2019 Financial Results Summary\nTotal revenues for the quarter were $25.3 million, up 17% compared to $21.7 million in the first quarter of 2018. \nGross profit on a GAAP basis for the quarter was $18.0 million (gross margin of 71.2%), a 22% improvement compared with $14.8 million (gross margin of 68.1%) in the first quarter of 2018. \nGross profit on a non-GAAP basis for the quarter of was $18.3 million (gross margin of 72.4%), a 21% improvement compared with $15.1 million (gross margin of 69.6%) in the first quarter of 2018. \nOperating loss on a GAAP basis for the quarter was $3.3 million, an improvement compared with an operating loss of $3.5 million, in...