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Earnings Call Summary | Allot(ALLT.US) Q1 2024 Earnings Conference

moomoo AI ·  May 29 15:05  · Conference Call

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

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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