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Allot Announces Third Quarter 2021 Financial Results
Continued revenue growth and signing of new security deals HOD HASHARON, Israel, Nov. 9, 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, Nov. 9, 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 third quarter of 2021, ended September 30, 2021.\n \n \nThird Quarter 2021 Highlights\nRevenue growth of 10% YoY to $38.2 million Operating profit on a non-GAAP basis of $0.3 million compared to a loss of $1 million in Q3 2020 Net loss on a non-GAAP basis reduced by 86% YoY to $0.2 million Signed Security as a Service deal with DISH in the US to deliver cybersecurity to their 5G customersFinancial Outlook\nManagement expects 2021 revenues to be between $145- 146 million and continues to expect to sign recurring security deals to be closed in 2021 with an MAR* of at least $180 million.\nManagement expectations of Security as a Service (SECaaS) revenues have been delayed due to delays in service launches. Formerly forecasted SECaaS revenues levels are expected to be reached with a delay of approximately two quarters. Considering the above, management is providing the following updates to the SECaaS revenue guidance:\nFor 2021, SECaaS revenues are expected to be between $4.1-4.3 million. SECaaS revenues in 2022 are expected to be between $10-15 million. SECaaS revenues for the 12 months between July 2022 and June 2023 are expected to be between $20 - $30 million. ARR* in December of 2021 is expected to be between $5–6 million and in December 2022 between $20–30 million. ARR measures the current annual run rate of the SECaaS revenues, which is calculated based on these expected revenues in the current month of December and multiplied by 12.Management Comment\nErez Antebi, President & CEO of Allot, commented: \"In the third quarter of 2021, we continued to execute on our plan and grow. This is our 15th straight quarter of year over year growth, and I am very pleased with the results we achieved. Our DPI business is showing solid results as we continue to sign up new customers and grow our market share. In our cybersecurity business, we are executing on our strategy to revolutionize consumer cybersecurity, by enabling CSPs to offer consumer cybersecurity as a network service. To date, we have signed Securit...