Business
Allot Announces Fourth Quarter & Full Year 2021 Financial Results
Total ARR up 39% year-over-year; New security recurring revenue deals executed in 2021 added $193 million of incremental MAR HOD HASHARON, Israel, Feb. 15,
About this update from Allot Ltd.
[{"type":"text","content":"Total ARR up 39% year-over-year; New security recurring revenue deals executed in 2021 added $193 million of incremental MAR\n\n\nHOD HASHARON, Israel, Feb. 15, 2022 /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 2021 financial results.\n\n \n \n \n \n \n \n\n \n Financial Highlights\nFourth quarter revenues were $41.0 million, up 5% year-over-year; Full year revenues were $145.6 million, up 7% year-over-year; Gross margin on a non-GAAP basis in 2021 was 70% compared to 71% in 2020; Total ARR* for December 2021, including SECaaS ARR* and Support & Maintenance ARR* was $47 million, up 39% year-over-year; Incremental MAR** (maximum annual revenue potential of concluded transactions) reported for the year 2021 was $193 million; GAAP operating loss for Q4 2021 was $3.7 million compared to $1.2 in Q4 2020; Non-GAAP operating loss for Q4 2021 was $2 million compared to an operating profit of $0.5 million in Q4 2020.Financial Outlook\nFor 2022, management expects:\n\nRevenues to be between $147-153 million; Additional recurring security deals to be executed, providing incremental MAR** of more than $180 million; December 2022 total ARR* including SECaaS ARR* and Support & Maintenance ARR* to be between $61-$73 million, representing more than 40% year-over-year growth versus 2021 at the midpoint; December 2022 SECaaS ARR* to be between $20-$30 million; Recurring security revenue to be between $10-$15 million.Management Comment\nErez Antebi, President & CEO of Allot, commented: \"During 2021 more of our SECaaS partners began to launch their service, and we started to show traction and revenue growth from recurring security services. This year, more network-based security deals were signed by operators worldwide than in any previous year. By our count, we won most of these deals that were closed during the year. We see this as a testament to the accelerated growth in the network-based security market, as well as our leadership and strength in the market. I expect this trend will continue in 2022 and beyond.\"\nConvertible Notes\nThe Company issued a separate Press Release announcing the signing of a $40 million private financing with Lynrock...