The following is a summary of the Allot Ltd. (ALLT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Allot reported Q1 revenue of $22 million, a 4% increase from last year's Q1.

• Gross margins improved significantly, returning to the 70% range from the 60% average of 2023.

• The company posted an operating loss of $1.4 million and a cash flow deficit of $2.4 million, with an EBITDA loss just under the breakeven point at $1 million for the quarter.

• SECaaS revenues stood at $3.4 million, marking a 48% year-over-year increase.

Business Progress:

• The company is targeting a breakeven point in 2024, reducing operational expenses and lowering its employee count by 35% since September 2022.

• Allot continues to focus on its current SECaaS customer base, maintaining ties with leading companies like Verizon, Vodafone, Telefonica, and Hutchison.

• An aggressive go-to-market strategy is being adopted to broaden the customer base, with a selective focus on strategic SECaaS opportunities.

• CFO Ziv Leitman is departing at the end of June 2024, and Liat Nahum will succeed him.

More details: Allot IR

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