Latest news with #EyalHarari
Yahoo
01-04-2025
- Business
- Yahoo
Allot to Present at the LD Micro Invitational XV Conference on April 10, 2025
Hod Hasharon, Israel, April 01, 2025 (GLOBE NEWSWIRE) -- Allot Ltd. (NASDAQ: ALLT, TASE: ALLT), a leading global provider of innovative security-as-a-service (SECaaS) and network intelligence solutions for communication service providers and enterprises, today announced that it will be participating at the 15th Annual LD Micro Invitational investor conference taking place in New York on April 9th and 10th, 2025. The event is expected to feature leading small-cap companies presenting in half-hour increments, as well as private one-on-one meetings. Mr. Eyal Harari, CEO of Allot, will be presenting to investors on Thursday, April 10 between 12:00-12:25pm in Track 1. Interested parties are invited to register to watch the presentation virtually through a link on Allot's website. In addition, management will also be available for one-on-one meetings with investors throughout that day at the conference. To schedule a meeting with management, please contact an LD Micro representative or email a request to the investor relations team at allot@ About Allot Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative converged cybersecurity solutions and network intelligence for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network-native cybersecurity services, network and application analytics, traffic control and shaping, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-native security-as-a-service solution is already used by many millions of subscribers globally. Allot. See. Control. Secure. For more information, visit Safe Harbor Statement This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: Seth Greenberg Allot +972 54 922 2294 sgreenberg@ Ehud Helft Allot Investor Relations +1 212 378 8040 allot@ in to access your portfolio
Yahoo
06-03-2025
- Business
- Yahoo
Allot to Present at the Roth Growth Conference on March 17, 2025
Hod Hasharon, Israel, March 06, 2025 (GLOBE NEWSWIRE) -- 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 that its management will be meeting with investors and presenting at the 37th Annual Roth Conference taking place between March 16 and 18, 2025. Allot's CEO, Eyal Harari will be attending and meeting one-on-one with investors on Monday March 17. For more information about the conference, or to schedule a meeting with Allot's management, please contact your Roth representative or email the investor relations team at Allot. About Allot Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative converged cybersecurity solutions and network intelligence for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network-native cybersecurity services, network and application analytics, traffic control and shaping, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-native security-as-a-service solution is already used by many millions of subscribers See. Control. Secure. For more information, visit Safe Harbor Statement This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: Seth Greenberg Allot +972 54 922 2294 sgreenberg@ Ehud Helft Allot Investor Relations +1-212-378-8040 Allot@
Yahoo
25-02-2025
- Business
- Yahoo
Allot Announces Fourth Quarter 2024 Financial Results
Strong Double-Digit SECaaS Growth and Significant Improvement in Profitability HOD HASHARON, Israel, Feb. 25, 2025 /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 financial results for the fourth quarter and full year of 2024. Financial Highlights for the Fourth Quarter Revenues of $24.9 million increased 2% year over year and 7% sequentially, representing a return to revenue growth; Security as a Service (SECaaS) revenues continued to grow strongly, increasing 49% year-over-year to $4.8 million; December 2024 SECaaS ARR* grew to $18.2 million, an increase of 43% year-over-year; Non-GAAP gross margin was 69.7%, a strong improvement versus gross margin of 51.7% in the fourth quarter of last year; Non-GAAP operating profit was $1.8 million, GAAP operating income was $0.3 million, versus operating losses last year; Generated strong positive operating cash flow in the quarter of $4.1 million; Management Comment Eyal Harari, CEO of Allot, commented, "We are very pleased to report solid fourth-quarter and full year 2024 results, demonstrating that Allot is at a key inflection point in its turnaround process. Our results show renewed revenue growth and a return to profitability, with growing positive cash flow generation. Our SECaaS growth engine continued its strong performance in 2024, with high double-digit growth rates in both revenues and ARR." Continued Mr. Harari, "Our security-first strategy and renewed go-to-market focus are gaining strong traction and momentum. As we recently announced, we were very excited to sign a new major agreement with Verizon Business. We are very happy that the significant Verizon Business mobile customer base will have the opportunity to sign up for Allot's cybersecurity protection solution. This new agreement adds to the strong momentum that Allot has recently seen, including our announcements with Vodafone, O2 and MEO. These important partnerships illustrate our growing success and expand our potential for long-term recurring revenue." Concluded Mr. Harari, "Looking ahead to 2025, we remain focused on advancing our strategy and executing on another year of double-digit SECaaS revenue and ARR growth, and improved profitability." Fourth Quarter 2024 Financial Results Summary Total revenues for the fourth quarter of 2024 were $24.9 million, a 7% increase sequentially compared with $23.2 million in the prior quarter and a 2% increase year-over-year compared with $24.3 million in the fourth quarter of 2023. . Gross profit on a GAAP basis for the fourth quarter of 2024 was $17.1 million (gross margin of 68.5%), a 49.6% increase compared with $11.4 million (gross margin of 46.8%) in the fourth quarter of 2023. Gross profit on a non-GAAP basis for the fourth quarter of 2024 was $17.4 million (gross margin of 69.7%), a 37.9% increase compared with $12.6 million (gross margin of 51.7%) in the fourth quarter of 2023. Operating income on a GAAP basis for the fourth quarter of 2024 was $0.3 million, compared with an operating loss of $18.9 million in the fourth quarter of 2023. Operating income on a non-GAAP basis for the fourth quarter of 2024 was $1.8 million, compared with an operating loss of $17.0 million in the fourth quarter of 2023. Net income on a GAAP basis for the fourth quarter of 2024 was $0.2 million, or $0.01 income per diluted share, an improvement compared to the net loss of $18.3 million, or $0.48 loss per basic share, in the fourth quarter of 2023. Net income on a non-GAAP basis for the fourth quarter of 2024 was $2.0 million, or $0.05 income per diluted share, an improvement compared to the non-GAAP net loss of $16.4 million, or $0.43 loss per basic share, in the fourth quarter of 2023. Operating cash flow generated in the quarter was $4.1 million. Full Year 2024 Financial Results Summary Total revenues for 2024 were $92.2 million, a 1% decrease compared to $93.2 million in 2023. Gross profit on a GAAP basis for 2024 was $63.7 million (gross margin of 69.1%), a 20.9% increase compared with $52.7 million (gross margin of 56.6%) in 2023. Gross profit on a non-GAAP basis for 2024 was $65.1 million (gross margin of 70.6%), a 17.2% year-over-year growth compared with $55.5 million (gross margin of 59.6%) in 2023. Net loss on a GAAP basis for 2024 was $5.9 million, or $0.15 per basic share, compared with a net loss of $62.8 million, or $1.66 per basic share, in 2023. Net income on a non-GAAP basis for 2024 was $1.6 million, or $0.04 income per diluted share, compared with a net loss of $53.3 million, or $1.41 loss per basic share, in 2023. Operating cash flow generated in 2024 was $4.8 million. Cash and cash equivalents, short-term bank deposits, short-term restricted deposits, and investments as of December 31, 2024, totaled $58.8 million, versus $54.8 million as of December 31, 2023. Conference Call & Webcast: The Allot management team will host a conference call to discuss its fourth quarter and full year 2024 earnings results today, February 25, 2025 at 9:00 am ET, 4:00 pm Israel time. To access the conference call, please dial one of the following numbers: US: 1-888-642-5032, UK: 0-800-917-5108, Israel: +972-3-918-0610 A live webcast and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: About Allot Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed, and cloud service providers and over 1,000 enterprises. Our industry-leading network-based security as a service solution is already used by many millions of subscribers globally. Allot. See. Control. Secure. For more information, visit Performance Metrics * SECaaS ARR – measures the current annual recurring of SECaaS revenues, which is calculated based on estimated revenues for the month of December 2024 and multiplied by 12. GAAP to Non-GAAP Reconciliation: The difference between GAAP and non-GAAP revenues is related to the acquisitions made by the Company and represents revenues adjusted for the impact of the fair value adjustment to acquired deferred revenue related to purchase accounting. Non-GAAP net income is defined as GAAP net income after including deferred revenues related to the fair value adjustment resulting from purchase accounting and excluding stock-based compensation expenses, amortization of acquisition-related intangible assets, deferred tax asset adjustment and changes in taxes-related items. These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results is provided in the accompanying Table 2. The Company provides these non-GAAP financial measures because it believes they present a better measure of the Company's core business and management uses the non-GAAP measures internally to evaluate the Company's ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company's operating performance. Safe Harbor Statement This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Investor Relations Contact: EK Global Investor Relations Ehud Helft +1 212 378 8040 allot@ Public Relations Contact: Seth Greenberg, Allot Ltd. +972 54 922 2294 sgreenberg@ TABLE - 1 ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except share and per share data) Three Months Ended Year Ended December 31, December 31,20242023 20242023(Unaudited) (Unaudited)(Audited)Revenues $ 24,906$ 24,342 $ 92,195$ 93,150 Cost of revenues 7,85312,941 28,50540,464 Gross profit 17,05311,401 63,69052,686Operating expenses: Research and development costs, net 5,7157,942 26,11239,115 Sales and marketing 7,50812,057 30,90843,850 General and administrative 3,51810,316 12,68434,656 Total operating expenses 16,74130,315 69,704117,621 Operating profit (loss) 312(18,914) (6,014)(64,935) Financial and other income (loss), net 368661 1,9103,215 Profit (Loss) before income tax benefit 680(18,253) (4,104)(61,720)Tax expenses 43996 1,7651,084 Net profit (Loss) 241(18,349) (5,869)(62,804) Basic net profit (loss) per share $ 0.01$ (0.48) $ (0.15)$ (1.66) Diluted net profit (loss) per share $ 0.01$ (0.48) $ (0.15)$ (1.66)Weighted average number of shares used in computing basic net loss per share 39,379,25438,293,808 38,928,47537,911,214Weighted average number of shares used in computing diluted net loss per share 41,772,40238,293,808 40,899,29437,911,214 TABLE - 2 ALLOT LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except per share data)Three Months EndedYear Ended December 31,December 31, 2024202320242023 (Unaudited)(Unaudited) GAAP cost of revenues $ 7,853$ 12,941$ 28,505$ 40,464 Share-based compensation (1) (148)(162)(779)(1,219) Amortization of intangible assets (2) (152)(1,024)(608)(1,606) Non-GAAP cost of revenues $ 7,553$ 11,755$ 27,118$ 37,639 GAAP gross profit $ 17,053$ 11,401$ 63,690$ 52,686 Gross profit adjustments 3001,1861,3872,825 Non-GAAP gross profit $ 17,353$ 12,587$ 65,077$ 55,511 GAAP operating expenses $ 16,741$ 30,315$ 69,704$ 117,621 Share-based compensation (1) (1,176)(1,449)(5,261)(7,626) Income related to M&A activities (2) -699-699 Non-GAAP operating expenses $ 15,565$ 29,565$ 64,443$ 110,694 GAAP financial and other income $ 368$ 661$ 1,910$ 3,215 Exchange rate differences* 159(50)502(378) Expenses related to M&A activities (3) ---43 Non-GAAP Financial and other income $ 527$ 611$ 2,412$ 2,880 GAAP taxes on income $ 439$ 96$ 1,765$ 1,084 Changes in tax related items (130)(25)(352)(100) Non-GAAP taxes on income $ 309$ 71$ 1,413$ 984 GAAP Net profit (Loss) $ 241$ (18,349)$ (5,869)$ (62,804) Share-based compensation (1) 1,3241,6116,0408,845 Amortization of intangible assets (2) 1521,0246081,606 Expenses related to M&A activities (3) -(699)-(656) Exchange rate differences* 159(50)502(378) Changes in tax related items 13025352100 Non-GAAP Net income (loss) $ 2,006$ (16,438)$ 1,633$ (53,287) GAAP profit (Loss) per share (diluted) $ 0.01$ (0.48)$ (0.15)$ (1.66) Share-based compensation 0.030.040.160.23 Amortization of intangible assets 0.000.030.020.05 Expenses related to M&A activities -(0.02)-(0.02) Exchange rate differences* 0.01(0.00)0.01(0.01) Changes in tax related items 0.000.000.000.00 Non-GAAP Net income (loss) per share (diluted) $ 0.05$ (0.43)$ 0.04$ (1.41) Weighted average number of shares used in computing GAAP diluted net income (loss) per share 39,379,25438,293,80838,928,47537,911,214 Weighted average number of shares used in computing non-GAAP diluted net income (loss) per share 42,560,45738,293,80842,289,63737,911,214* Financial income or expenses related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies. TABLE - 2 cont. ALLOT LTD. AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS (U.S. dollars in thousands, except per share data)Three Months EndedYear Ended December 31,December 31, 2024202320242023 (Unaudited)(Unaudited)(1) Share-based compensation: Cost of revenues $ 148$ 162$ 779$ 1,219Research and development costs, net 3015971,9883,010Sales and marketing 3104731,8552,651General and administrative 5653791,4181,965 $ 1,324$ 1,611$ 6,040$ 8,845 (2) Amortization of intangible assets Cost of revenues $ 152$ 1,024$ 608$ 1,606 $ 152$ 1,024$ 608$ 1,606 (3) Expenses related to M&A activities General and administrative $ -$ (699)$ -$ (699)Financial expenses (income) ---43 $ -$ (699)$ -$ (656) TABLE - 3 ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands) December 31,December 31, 20242023 (Unaudited)(Audited)ASSETS CURRENT ASSETS: Cash and cash equivalents$ 16,142$ 14,192 Short-term bank deposits15,25010,000 Restricted deposits9041,728 Available-for-sale marketable securities26,47028,853 Trade receivables, net (net of allowance for credit losses of $25,306 and $25,253 on December 31, 2024 and 2023, respectively)16,48214,828 Other receivables and prepaid expenses6,3178,437 Inventories8,61111,874 Total current assets90,17689,912LONG-TERM ASSETS: Severance pay fund464395 Restricted deposit279158 Operating lease right-of-use assets6,7413,057 Other assets 2,151704 Property and equipment, net7,69211,189 Intangible assets, net305915 Goodwill31,83331,833 Total non-current assets49,46548,251Total assets$ 139,641$ 138,163LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables$ 946$ 969 Deferred revenues17,05414,892 Short-term operating lease liabilities5621,453 Other payables and accrued expenses17,41222,094 Total current liabilities35,97439,408LONG-TERM LIABILITIES: Deferred revenues7,1367,437 Long-term operating lease liabilities5,807702 Accrued severance pay9461,080 Convertible debt39,97339,773 Total long-term liabilities53,86248,992SHAREHOLDERS' EQUITY49,80549,763Total liabilities and shareholders' equity$ 139,641$ 138,163 TABLE - 4 ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (U.S. dollars in thousands)Three Months EndedYear EndedDecember 31,December 31,2024202320242023(Unaudited)(Unaudited)(Audited) Cash flows from operating activities:Net profit (Loss) $ 241$ (18,349)$ (5,869)$ (62,804) Adjustments to reconcile net income to net cash provided by (used in) operating activities:Depreciation 2,1451,6385,6135,536 Stock-based compensation 1,3241,6116,0408,845 Amortization of intangible assets 1531,7666102,596 Increase (Decrease) in accrued severance pay, net (48)37(203)116 Decrease (Increase) in other assets, other receivables and prepaid expenses (274)(62)702621 Increase in accrued interest and amortization of premium/discount on marketable securities (223)(305)(1,392)(712) Decrease in operating leases liability (545)(845)(1,644)(3,322) Decrease in operating lease right-of-use asset 3256812,1742,686 Decrease (Increase) in trade receivables 8889,784(1,654)34,273 Decrease in inventories 1,4382,1653,2631,388 Decrease in trade payables (2,178)(2,857)(23)(10,692) Increase (Decrease) in employees and payroll accruals (1,798)1,115(4,358)(1,571) Increase (Decrease) in deferred revenues 3,265(2,806)1,861(5,781) Increase in other payables, accrued expenses and other long term liabilities (684)1,200(493)(1,113) Amortization of issuance costs of Convertible debt 5050200198 Net cash provided by (used in) operating activities 4,079(5,177)4,827(29,736) Cash flows from investing activities:Decrease (Increase) in restricted deposit -(804)703(836) Investment in short-term bank deposits (15,250)-(24,550)(15,900) Withdrawal of short-term bank deposits 5,5003,60019,30074,665 Purchase of property and equipment (445)(621)(2,117)(2,489) Investment in marketable securities (16,719)(12,064)(61,003)(46,742) Proceeds from redemption or sale of marketable securities 10,7507,75064,79022,935 Net cash provided by investing activities (16,164)(2,139)(2,877)31,633 Cash flows from financing activities:Proceeds from exercise of stock options 1(1)-- Net cash provided by (used in) financing activities 1(1)-- Increase (Decrease) in cash and cash equivalents (12,084)(7,317)1,9501,897 Cash and cash equivalents at the beginning of the period 28,22621,50914,19212,295 Cash and cash equivalents at the end of the period $16,142$ 14,192$ 16,142$ 14,192 Non-cash activity:Right-of-use assets obtained in the exchange for operating lease liabilities $ 63$ 279$ 5,858$ 356 Other financial metrics (Unaudited) U.S. dollars in millions, except number of full time employees, top 10 customers as a % of revenues and number of sharesQ4-2024FY 2024FY 2023Revenues geographic breakdownAmericas4.4 18 % 14.2 15 % 16.6 18 %EMEA15.8 63 % 54.0 59 % 56.1 60 %Asia Pacific4.7 19 % 24.0 26 % 20.5 22 %24.9 100 % 92.2 100 % 93.2 100 %Revenues breakdown by typeProducts4.9 20 % 30.1 33 % 37.6 40 %Professional Services 2.8 11 % 8.3 9 % 6.1 7 %SECaaS (Security as a Service) 4.8 19 % 16.5 18 % 10.6 11 %Support & Maintenance 12.5 50 % 37.3 40 % 38.9 42 %24.9 100 % 92.2 100 % 93.2 100 %Revenues per customer typeCSP20.7 83 % 75.4 82 % 75.1 81 %Enterprise4.2 17 % 16.8 18 % 18.1 19 %24.9 100 % 92.2 100 % 93.2 100 %Top 10 customers as a % of revenues 55 %43 %47 % Non-GAAP Weighted average number of basic shares (in millions) 39.438.937.9 Non-GAAP weighted average number of fully diluted shares (in millions) 42.642.340.3 SECaaS (Security as a Service) revenues- U.S. dollars in millions (Unaudited)Q4-2024: 4.8 Q3-2024: 4.7 Q2-2024: 3.7 Q1-2024: 3.4 Q4-2023: 3.2 SECaaS ARR* - U.S. dollars in millions (Unaudited)Dec. 2024: 18.2 Dec. 2023: 12.7 Dec. 2022: 9.2 Dec. 2021: 5.2 Logo - View original content: SOURCE Allot Ltd. 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Associated Press
25-02-2025
- Business
- Associated Press
Allot Partnering with Verizon Business on Enhanced Cybersecurity Protection for Its Customers' Mobile Devices
Hod Hasharon, Israel, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Allot Ltd. (NASDAQ: ALLT) (TASE: ALLT), a leading global provider of innovative security-as-a-service (SECaaS) and network intelligence solutions for communication service providers and enterprises, announced today that Allot's NetworkSecure offering is helping support the expansion of Verizon Business' cybersecurity capabilities to boost protection for customers against a broad range of mobile cyber threats. 'We always want to be a step ahead for our customers, particularly when it comes to security. Our network-based security portfolio makes it easy for our customers to enjoy peace of mind, including through our powerful mobile cybersecurity solutions,' said Jennifer Varner, AVP Security Products and Solutions, Verizon Business. 'This collaboration with Allot helps us enhance our offerings even further for our customers.' 'We are proud to enhance our collaboration with Verizon Business and excited with the opportunity to address the mass market,' said Eyal Harari, CEO, Allot. 'Allot is privileged to work with Verizon Business to enhance mobile security for businesses.' NetworkSecure is a monetizable network-based solution, offering zero-touch, clientless operation, requiring no application installation by the end customer. With NetworkSecure, customers can enjoy protection from cyberthreats, including viruses and other types of malware and phishing and ransomware attacks. An easy-to-use branded interface provides alerts and reporting that help strengthen brand loyalty. Customers, especially SMBs, can enjoy cutting-edge cybersecurity services, seamlessly delivered from the network without the need for any complicated IT support. Additional Resources: About Allot Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative converged cybersecurity solutions and network intelligence for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network-native cybersecurity services, network and application analytics, traffic control and shaping, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises. Our industry-leading network-native security-as-a-service solution is already used by many millions of subscribers globally. Allot. See. Control. Secure. Forward-Looking Statement This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading 'Risk Factors' in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
