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Allot Announces Second Quarter 2021 Financial Results
Continued revenue growth and signing of new security deals HOD HASHARON, Israel, Aug. 10, 2021 /PRNewswire/ -- Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a
About this update from Allot Ltd.
[{"type":"text","content":"Continued revenue growth and signing of new security deals\n\n\nHOD HASHARON, Israel, Aug. 10, 2021 /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 results for the second quarter of 2021, ended June 30, 2021.\nSecond Quarter 2021 Highlights\nRevenue growth of 8% YoY to $35.3 million Operating loss and net loss reduced by almost 40% YoY Cash and investments increased to $105.6 million 5G Netprotect product gaining momentum with another win with a Tier-1 in APAC Signed additional SECaas contracts with multiple operators in APAC, EMEA and Latam Signed a SECaas deal with a Tier-1 Communications Group with operating units in the EU and North AmericaFinancial Outlook\nManagement continues to expect: - 2021 revenues to grow to between $145-150 million; - Recurring security deals to be closed in 2021 with an MAR* of at least $180 million; - Recurring security revenues in 2021 of around $5 million and approximately $25 million in 2022;Management Comment\nErez Antebi, President & CEO of Allot, commented: \"We are very pleased with our performance in the second quarter and are confident we are on our way to achieve the goals we set for 2021. The revolution of shifting cybersecurity responsibility from the individual to the CSP is growing worldwide and gaining momentum. This is evidenced by growth in several directions: In the number of CSPs that are engaging with us; in the number of operators that contract with us; and in the number of consumers signing up for cybersecurity protection once the operator launches the service. I am very proud that Allot is the technology company leading this revolution.\"\nQ2 2021 Financial Results Summary\nTotal revenues for the second quarter of 2021 were $35.3 million, an increase of 8% compared to $32.8 million in the second quarter of 2020. \nGross profit on a GAAP basis for the second quarter of 2021 was $24.5 million (gross margin of 69%), compared with $23.0 million (gross margin of 70%) in the second quarter of 2020.\nGross profit on a non-GAAP basis for the second quarter of 2021 was $24.8 million (gross margin of 70.2%), compared with $23.2 million (gross margin of 70.7%) in the second quarter of 2020. \nNet loss on a GAAP basis ...