Business
Allot Announces Second Quarter 2019 Financial Results
HOD HASHARON, Israel, Aug. 6, 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, Aug. 6, 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 second quarter 2019 financial results.\n\n \nSecond Quarter 2019 – Financial Highlights\nRevenue growth to $26.6 million, up 15% year-over-year; GAAP gross profit up 12% year-over-year to $18.3 million; non-GAAP gross profit up 12% to $18.5 million; GAAP operating loss of $1.5 million; non-GAAP operating loss of $2.1 million. Financial Outlook\nManagement continues to maintain its 2019 expectations of yearly revenues between $106-110 million, representing continued double-digit year-over-year growth; Management continue to expect full year 2019 book to bill ratio at above 1. Management Comment\nErez Antebi, President & CEO of Allot, commented: \"We are pleased with our ongoing year-over-year growth in revenue and we remain on target with our strategy and longer-term goals. Our pipeline remains strong and we are actively working to close further deals in the coming months, both in the Visibility and Control, as well as in the Security areas. We look forward to continued and sustainable growth for the remainder of this year and beyond.\"\nSecond Quarter 2019 Financial Results Summary\nTotal revenues for the quarter were $26.6 million, an increase of 15% compared to $23.0 million in the second quarter of 2018. \nGross profit on a GAAP basis for the quarter was $18.3 million (gross margin of 68.7%), a 12% improvement compared with $16.3 million (gross margin of 70.8%) in the second quarter of 2018. \nGross profit on a non-GAAP basis for the quarter of was $18.5 million (gross margin of 69.8%), a 12% improvement compared with $16.6 million (gross margin of 72.2%) in the second quarter of 2018. \nOperating loss on a GAAP basis for the quarter was $1.5 million, compared with an operating loss of $2.8 million, in the second quarter of 2018. \nNon-GAAP operating loss for the quarter was $2.1 million, compared with a non-GAAP operating loss of $1.3 million in the second quarter of 2018.\nNet loss on a GAAP basis for the quarter was $1.5 million, or $0.04 per basic and diluted share, compared with a net loss of $2.4 million, or $0.07 per basic and diluted share, in the second quarter of 2018.\nNon-GAAP net loss...