The following is a summary of the Allot Ltd. (ALLT) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Allot reported Q2 2024 revenue of $22.2 million, marking a 12% year-over-year decline but a 1% increase compared to the previous quarter.

• SECaaS revenue was $3.7 million, up 54% year-over-year, comprising 17% of total revenue.

• Gross margin was stable at 70.6%.

• Non-GAAP operating loss significantly reduced by 95% to $1 million.

• Generated positive operating cash flow of $1.2 million and increased net cash position.

• Non-GAAP net loss was $0.8 million, or $0.02 per share.

Business Progress:

• Continued investment and growth in SECaaS, with revenue increasing 54% year-over-year.

• Signed an expansion agreement with a Tier 1 European CSP, expected to contribute to revenue by end of year.

• Launched SECaaS with Verizon business; discussing potential service expansions within different customer segments.

• Increased sales to new and existing customers for Allot Smart products, including expanding relationships with Rakuten Mobile.

• Developing a strategic plan to drive renewed revenue growth and long-term profitability.

Opportunities:

• Cybersecurity market growth and increased need for mobile security offerings.

• Expanding and improving SECaaS offerings to enhance customer value and protection.

• Capitalizing on the roll-out of 5G networks and the increasing adoption of cloud services for significant security needs.

Risks:

• Implementation times and integration requirements within the telecom sector could affect project timelines and revenue recognition.

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