UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
 
Form 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2022
Commission File Number: 001-33129

ALLOT LTD.
 (Translation of registrant’s name into English)

22 Hanagar Street
Neve Ne'eman Industrial Zone B
Hod-Hasharon 45240
Israel
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒             Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes   ☐          No   ☒

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________


EXPLANATORY NOTE

On February 15, 2022, Allot Ltd. issued a press release announcing the Fourth Quarter and Full Year 2021 Financial Results.

A copy of the press release entitled “Allot Announces Fourth Quarter and Full Year 2021 Financial Results” is attached to this Form 6-K as Exhibit 99.1.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
Allot Ltd.
 
       

By:
/s/ Ziv Leitman
 
 
Ziv Leitman
 
 
Chief Financial Officer
 

Date: February 15th, 2022


EXHIBIT INDEX

The following exhibit has been filed as part of this Form 6-K:
 
Exhibit Number Description

99.1




Exhibit 99.1


Allot Announces Fourth Quarter & Full Year 2021
Financial Results
 
Total ARR up 39% year-over-year; New security recurring revenue deals executed in 2021
added $193 million of incremental MAR;

Hod Hasharon, Israel – February 15, 2022 - 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 fourth quarter and full year 2021 financial results.
 
 Financial Highlights
 

Fourth quarter revenues were $41.0 million, up 5% year-over-year;
 

Full year revenues were $145.6 million, up 7% year-over-year;
 

Gross margin on a non-GAAP basis in 2021 was 70% compared to 71% in 2020;
 

Total ARR* for December 2021, including SECaaS ARR* and Support & Maintenance ARR* was $47 million, up 39% year-over-year;
 

Incremental MAR** (maximum annual revenue potential of concluded transactions) reported for the year 2021 was $193 million;
 

GAAP operating loss for Q4 2021 was $3.7 million compared to $1.2 in Q4 2020;
 

Non-GAAP operating loss for Q4 2021 was $2 million compared to an operating profit of $0.5 million in Q4 2020;
 
Financial Outlook
 
For 2022, management expects:
 

Revenues to be between $147-153 million;
 

Additional recurring security deals to be executed, providing incremental MAR** of more than $180 million;
 

December 2022 total ARR* including SECaaS ARR* and Support & Maintenance ARR* to be between $61-$73 million, representing more than 40% year-over-year growth versus 2021 at the midpoint;
 

December 2022 SECaaS ARR* to be between $20-$30 million;
 

Recurring security revenue to be between $10-$15 million;
 

Management Comment
 
Erez Antebi, President & CEO of Allot, commented: “During 2021 more of our SECaaS partners began to launch their service, and we started to show traction and revenue growth from recurring security services. This year, more network-based security deals were signed by operators worldwide than in any previous year. By our count, we won most of these deals that were closed during the year. We see this as a testament to the accelerated growth in the network-based security market, as well as our leadership and strength in the market. I expect this trend will continue in 2022 and beyond.”
 
Convertible Notes
 
The Company issued a separate Press Release announcing the signing of a $40 million private financing with Lynrock Lake Master Fund LP.
 
 Q4 2021 Financial Results Summary
 
Total revenues for the fourth quarter of 2021 were $41.0 million, an increase of 5% compared to $39.1 million in the fourth quarter of 2020.
 
Gross profit on a GAAP basis for the fourth quarter of 2021 was $28.5 million (gross margin of 69.5%), a 4% improvement compared with $27.5 million (gross margin of 70.3%) in the fourth quarter of 2020.
 
Gross profit on a non-GAAP basis for the fourth quarter of 2021 was $28.7 million (gross margin of 70.2%), a 4% improvement compared with $27.7 million (gross margin of 70.9%) in the fourth quarter of 2020.
 
Net loss on a GAAP basis for the fourth quarter of 2021 was $4.0 million, or $0.11 per basic share, compared with a net loss of $1.7 million, or $0.05 per basic share, in the fourth quarter of 2020.
 
Net loss on a non-GAAP for the fourth quarter of 2021 was $2.1 million, or $0.06 loss per basic share compared with a net income of $0.4 million, or $0.01 earning per basic share, in the fourth quarter of 2020.
 
2021 Financial Results Summary
 
Total revenues for 2021 were $145.6 million, an increase of 7% compared to $135.9 million in 2020.
 
Gross profit on a GAAP basis for 2021 was $101.0 million (gross margin of 69.4%), a 5% improvement compared with $95.8 million (gross margin of 70.5%) in 2020.
 
Gross profit on a non-GAAP basis for 2021 was $102.2 million (gross margin of 70.2%), a 6% improvement compared with $96.8 million (gross margin of 71.2%) in 2020.
 
Net loss on a GAAP basis for 2021 was $15.0 million, or $0.42 per basic share, compared with a net loss of $9.3 million, or $0.27 per basic share, in 2020.
 
Net loss on a non-GAAP basis for 2021 was $6.0 million, or $0.17 per basic share, compared with a net loss of $3.6 million, or $0.10 per basic share, in 2020.
 
Cash and investments as of December 31, 2021 totaled $85.7 million, compared to $99.4 million as of December 31, 2020.
 
# # #
 

Conference Call & Webcast:
 
The Allot management team will host a conference call to discuss fourth quarter and full year 2021 earnings results today, February 15, 2022 at 8:30 am ET, 3:30 pm Israel time. To access the conference call, please dial one of the following numbers:
 
US:  1-888-668-5032, Israel: +972-3-918-0609
 
A live webcast and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: http://investors.allot.com/index.cfm
 
About Allot

Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a leading provider of 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 has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers in Europe. Allot. See. Control. Secure.
 
For more information, visit www.allot.com
 
*  Total ARR - Support & Maintenance ARR (measures the current annual run rate of the support & maintenance revenues, which is calculated based on these expected revenues in the fourth quarter and multiplied by 4) and SECaaS 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).
 
**  MAR (maximum annual revenue potential of concluded transactions) was estimated by Allot upon transaction signature and constitutes an approximation of the theoretical annual revenues Allot would receive if 100% of the customer’s subscribers, as estimated by Allot, signed up for the service.
 
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, changes in taxes related items and other acquisition-related expenses.
 

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 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; court approval of the Company’s proposed share buy-back program; 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:
GK Investor Relations
Ehud Helft
+1 212 378 8040
allot@gkir.com
Public Relations Contact:
Seth Greenberg, Allot Ltd.
+972 54 922 2294
sgreenberg@allot.com


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,
 
   
2021
   
2020
   
2021
   
2020
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Audited)
 
                         
Revenues
 
$
40,974
   
$
39,091
   
$
145,600
   
$
135,922
 
Cost of revenues
   
12,516
     
11,627
     
44,553
     
40,082
 
Gross profit
   
28,458
     
27,464
     
101,047
     
95,840
 
                                 
Operating expenses:
                               
Research and development costs, net
   
13,005
     
12,611
     
47,093
     
43,447
 
Sales and marketing
   
15,025
     
12,787
     
52,337
     
47,528
 
General and administrative
   
4,145
     
3,223
     
15,145
     
13,894
 
Total operating expenses
   
32,175
     
28,621
     
114,575
     
104,869
 
Operating loss
   
(3,717
)
   
(1,157
)
   
(13,528
)
   
(9,029
)
Financial and other income, net
   
176
     
343
     
339
     
1,857
 
Loss before income tax expenses
   
(3,541
)
   
(814
)
   
(13,189
)
   
(7,172
)
                                 
Tax expenses
   
489
     
867
     
1,851
     
2,176
 
Net Loss
   
(4,030
)
   
(1,681
)
   
(15,040
)
   
(9,348
)
                                 
 Basic net loss per share
 
$
(0.11
)
 
$
(0.05
)
 
$
(0.42
)
 
$
(0.27
)
                                 
 Diluted net loss per share
 
$
(0.11
)
 
$
(0.05
)
 
$
(0.42
)
 
$
(0.27
)
                                 
Weighted average number of shares used in
                         
computing basic net loss per share
   
36,426,471
     
35,317,213
     
36,050,540
     
35,007,201
 
                                 
Weighted average number of shares used in
                         
computing diluted net loss per share
   
36,426,471
     
35,317,213
     
36,050,540
     
35,007,201
 


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 Ended
   
Year Ended
 
   
December 31,
   
December 31,
 
   
2021
   
2020
   
2021
   
2020
 
   
(Unaudited)
   
(Unaudited)
 
GAAP cost of revenues
 
$
12,516
   
$
11,627
   
$
44,553
   
$
40,082
 
 Share-based compensation (1)
   
(137
)
   
(113
)
   
(581
)
   
(355
)
 Amortization of intangible assets (2)
   
(152
)
   
(152
)
   
(608
)
   
(608
)
Non-GAAP cost of revenues
 
$
12,227
   
$
11,362
   
$
43,364
   
$
39,119
 
                                 
 GAAP gross profit
 
$
28,458
   
$
27,464
   
$
101,047
   
$
95,840
 
 Gross profit adjustments
   
289
     
265
     
1,189
     
963
 
 Non-GAAP gross profit
 
$
28,747
   
$
27,729
   
$
102,236
   
$
96,803
 
                                 
 GAAP operating expenses
 
$
32,175
   
$
28,621
   
$
114,575
   
$
104,869
 
 Share-based compensation (1)
   
(1,749
)
   
(1,663
)
   
(7,419
)
   
(4,843
)
 Expenses related to M&A activities (3)
   
-
     
-
     
-
     
(82
)
 Changes in taxes and headcount related items (4)
   
367
     
296
     
367
     
296
 
 Non-GAAP operating expenses
 
$
30,793
   
$
27,254
   
$
107,523
   
$
100,240
 
                                 
 GAAP financial and other income
 
$
176
   
$
343
   
$
339
   
$
1,857
 
 Exchange rate differences*
   
12
     
(84
)
   
454
     
(552
)
 Non-GAAP Financial and other income
 
$
188
   
$
259
   
$
793
   
$
1,305
 
                                 
 GAAP taxes on income
 
$
489
   
$
867
   
$
1,851
   
$
2,176
 
 Tax expenses in respect of net deferred tax asset recorded
   
(118
)
   
(15
)
   
(282
)
   
(202
)
 Changes in tax related items
   
(100
)
   
(500
)
   
(100
)
   
(500
)
 Non-GAAP taxes on income
 
$
271
   
$
352
   
$
1,469
   
$
1,474
 
                                 
 GAAP Net Loss
 
$
(4,030
)
 
$
(1,681
)
 
$
(15,040
)
 
$
(9,348
)
 Share-based compensation (1)
   
1,886
     
1,776
     
8,000
     
5,198
 
 Amortization of intangible assets (2)
   
152
     
152
     
608
     
608
 
 Expenses related to M&A activities (3)
   
-
     
-
     
-
     
82
 
 Changes in taxes and headcount related items (4)
   
(367
)
   
(296
)
   
(367
)
   
(296
)
 Exchange rate differences*
   
12
     
(84
)
   
454
     
(552
)
 Tax expenses in respect of net deferred tax asset recorded
   
118
     
15
     
282
     
202
 
 Changes in tax related items
   
100
     
500
     
100
     
500
 
 Non-GAAP Net income (loss)
 
$
(2,129
)
 
$
382
   
$
(5,963
)
 
$
(3,606
)
                                 
 GAAP Loss per share (diluted)
 
$
(0.11
)
 
$
(0.05
)
 
$
(0.42
)
 
$
(0.27
)
 Share-based compensation
   
0.05
     
0.05
     
0.22
     
0.15
 
 Amortization of intangible assets
   
0.00
     
0.01
     
0.02
     
0.02
 
 Expenses related to M&A activities
   
-
     
-
     
-
     
0.01
 
 Changes in taxes and headcount related items
   
(0.01
)
   
(0.01
)
   
(0.01
)
   
(0.01
)
 Exchange rate differences*
   
0.01
     
(0.00
)
   
0.02
     
(0.01
)
 Changes in tax related items
   
0.00
     
0.01
     
0.00
     
0.01
 
 Non-GAAP Net income (loss) per share (diluted)
 
$
(0.06
)
 
$
0.01
   
$
(0.17
)
 
$
(0.10
)
                                 
Weighted average number of shares used in
                               
computing GAAP diluted net loss per share
   
36,426,471
     
35,317,213
     
36,050,540
     
35,007,201
 
                                 
Weighted average number of shares used in
                               
computing non-GAAP diluted net loss per share
   
36,426,471
     
37,574,546
     
36,050,540
     
35,007,201
 

* 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 Ended
   
Year Ended
 
   
December 31,
   
December 31,
 
   
2021
   
2020
   
2021
   
2020
 
   
(Unaudited)
   
(Unaudited)
 
                         
(1)  Share-based compensation:
                       
Cost of revenues
 
$
137
   
$
113
   
$
581
   
$
355
 
Research and development costs, net
   
646
     
412
     
2,499
     
1,368
 
Sales and marketing
   
740
     
683
     
3,212
     
2,145
 
General and administrative
   
363
     
568
     
1,708
     
1,330
 
   
$
1,886
   
$
1,776
   
$
8,000
   
$
5,198
 
                                 
(2)  Amortization of intangible assets
                               
Cost of revenues
 
$
152
   
$
152
   
$
608
   
$
608
 
   
$
152
   
$
152
   
$
608
   
$
608
 
                                 
(3)  Expenses related to M&A activities
                               
Research and development costs, net
 
$
-
   
$
-
   
$
-
   
$
82
 
   
$
-
   
$
-
   
$
-
   
$
82
 
                                 
(4)  Changes in taxes and headcount related items
                               
Sales and marketing
 
$
(367
)
 
$
(296
)
 
$
(367
)
 
$
(296
)
   
$
(367
)
 
$
(296
)
 
$
(367
)
 
$
(296
)
 

TABLE  - 3
ALLOT LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED  BALANCE  SHEETS
(U.S. dollars in thousands)

   
December 31,
   
December 31,
 
   
2021
   
2020
 
   
(Unaudited)
   
(Audited)
 
             
ASSETS
           
CURRENT ASSETS:
           
Cash and cash equivalents
 
$
11,717
   
$
23,599
 
Short-term bank deposits
   
60,720
     
47,225
 
Restricted deposits
   
1,480
     
1,200
 
Available-for-sale marketable securities
   
11,531
     
27,178
 
Trade receivables, net
   
30,829
     
20,685
 
Other receivables and prepaid expenses
   
8,490
     
14,205
 
Inventories
   
11,092
     
12,586
 
Total current assets
   
135,859
     
146,678
 
                 
LONG-TERM ASSETS:
               
Long-term bank deposits
   
215
     
215
 
Severance pay fund
   
407
     
434
 
Operating lease right-of-use assets
   
8,513
     
4,458
 
Trade receivables, net
   
6,643
     
-
 
Deferred taxes
   
(0
)
   
420
 
Other assets
   
1,639
     
2,975
 
Total long-term assets
   
17,417
     
8,502
 
                 
PROPERTY AND EQUIPMENT, NET
   
15,000
     
11,993
 
GOODWILL AND INTANGIBLE ASSETS, NET
   
35,138
     
34,427
 
                 
Total assets
 
$
203,414
   
$
201,600
 
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
               
CURRENT LIABILITIES:
               
Trade payables
 
$
3,940
   
$
2,092
 
Deferred revenues
   
22,138
     
26,658
 
Short-term operating lease liabilities
   
2,785
     
2,813
 
Other payables and accrued expenses
   
26,250
     
27,299
 
Total current liabilities
   
55,113
     
58,862
 
                 
LONG-TERM LIABILITIES:
               
Deferred revenues
   
15,942
     
9,782
 
Long-term operating lease liabilities
   
5,467
     
1,835
 
Accrued severance pay
   
884
     
969
 
Total long-term liabilities
   
22,293
     
12,586
 
                 
SHAREHOLDERS' EQUITY
   
126,008
     
130,152
 
                 
Total liabilities and shareholders' equity
 
$
203,414
   
$
201,600
 
 

TABLE  - 4
ALLOT LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(U.S. dollars in thousands)

   
Three Months Ended
   
Year Ended
 
   
December 31,
   
December 31,
 
   
2021
   
2020
   
2021
   
2020
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Audited)
 
                         
Cash flows from operating activities:
                       
                         
Net Loss
 
$
(4,030
)
 
$
(1,681
)
 
$
(15,040
)
 
$
(9,348
)
Adjustments to reconcile net income to net cash used in operating activities:
                               
Depreciation
   
1,255
     
1,041
     
4,635
     
3,704
 
Stock-based compensation
   
1,886
     
1,776
     
8,000
     
5,198
 
Amortization of intangible assets
   
235
     
152
     
941
     
608
 
Capital loss
   
-
     
18
     
-
     
18
 
Increase (Decrease) in accrued severance pay, net
   
(14
)
   
92
     
(58
)
   
128
 
Decrease (Increase) in other assets
   
(138
)
   
(2,315
)
   
1,006
     
(2,048
)
Decrease in accrued interest and  amortization of premium on marketable securities
   
17
     
11
     
182
     
357
 
Changes in operating leases, net
   
(84
)
   
198
     
(451
)
   
(413
)
Decrease (Increase) in trade receivables
   
(6,250
)
   
(1,740
)
   
(16,787
)
   
8,323
 
Decrease (Increase) in other receivables and prepaid expenses
   
1,197
     
(6,126
)
   
4,902
     
(7,272
)
Decrease (Increase)  in inventories
   
(2,194
)
   
2,950
     
1,494
     
(1,918
)
Decrease (Increase) in long-term deferred taxes, net
   
255
     
(76
)
   
420
     
96
 
Increase (Decrease) in trade payables
   
2,552
     
(8,807
)
   
1,848
     
(9,584
)
Increase in employees and payroll accruals
   
2,531
     
2,395
     
458
     
2,047
 
Increase (Decrease) in deferred revenues
   
(9,684
)
   
4,215
     
1,640
     
(5,182
)
Increase (Decrease) in other payables, accrued expenses and other long term liabilities
   
1,938
     
2,091
     
(1,559
)
   
3,061
 
             
     
     
 
Net cash used in operating activities
   
(10,528
)
   
(5,806
)
   
(8,369
)
   
(12,225
)
                                 
Cash flows from investing activities:
                               
Decrease (Increase) in restricted deposit
   
120
     
519
     
(280
)
   
32,896
 
Redemption of (Investment in) short-term deposits
   
14,205
     
7,936
     
(13,495
)
   
(41,883
)
Purchase of property and equipment
   
(3,051
)
   
(2,035
)
   
(7,642
)
   
(7,582
)
Investment in available-for sale marketable securities
   
-
     
(844
)
   
-
     
(1,219
)
Proceeds from redemption or sale of available-for sale marketable securities
   
5,162
     
5,483
     
15,094
     
34,847
 
Net cash provided by (used in) investing activities
   
16,436
     
11,059
     
(6,323
)
   
17,059
 
                                 
Cash flows from financing activities:
                               
                                 
Proceeds from exercise of stock options
   
150
     
155
     
2,810
     
1,835
 
Net cash provided by financing activities
   
150
     
155
     
2,810
     
1,835
 
                                 
                                 
Increase (Decrease) in cash and cash equivalents
   
6,058
     
5,408
     
(11,882
)
   
6,669
 
Cash and cash equivalents at the beginning of the period
   
5,659
     
18,191
     
23,599
     
16,930
 
                                 
Cash and cash equivalents at the end of the period
 
$
11,717
   
$
23,599
   
$
11,717
   
$
23,599
 




Other financial metrics (Unaudited)
U.S. dollars in millions, except number of full time employees, % of top-10 end-customers out of revenues and number of shares

     
Q4-2021
   
FY 2021
   
FY 2020
 
Revenues geographic breakdown
                                     
Americas
   
9.8
     
24
%
   
19.4
     
14
%
   
8.1
     
6
%
EMEA
   
16.5
     
40
%
   
82.0
     
56
%
   
104.3
     
77
%
Asia Pacific
   
14.7
     
36
%
   
44.2
     
30
%
   
23.5
     
17
%
     
41.0
     
100
%
   
145.6
     
100
%
   
135.9
     
100
%
                                                 
Breakdown between products & services revenues
                                               
Products
   
23.2
     
56
%
   
88.1
     
60
%
   
92.5
     
68
%
Professional Services
   
7.3
     
18
%
   
19.3
     
14
%
   
13.3
     
10
%
Support & Maintenance
   
10.5
     
26
%
   
38.2
     
26
%
   
30.1
     
22
%
     
41.0
     
100
%
   
145.6
     
100
%
   
135.9
     
100
%
                                                 
Revenues per customer type
                                               
CSP
   
34.5
     
84
%
   
116.9
     
80
%
   
114.8
     
84
%
Enterprise
   
6.5
     
16
%
   
28.7
     
20
%
   
21.1
     
16
%
     
41.0
     
100
%
   
145.6
     
100
%
   
135.9
     
100
%
                                                 
Security revenues
                   
40.1
             
22.8
         
                                                 
SECaaS (Security as a Service) revenues
                   
4.1
             
1.9
         
                                                 
Incremental MAR*
                   
193.0
             
192.0
         
                                                 
Backlog (end of period)
                   
88.6
             
109.7
         
                                                 
% of top-10 end-customers out of revenues
   
69
%
           
51
%
           
71
%
       
                                                 
Total number of full time employees (end of period)
   
741
             
741
             
676
         
                                                 
Non-GAAP Weighted average number of basic shares  (in millions)
   
36.4
             
36.1
             
35
         
                                                 
Non-GAAP weighted average number of fully diluted shares  (in millions)
   
38.6
             
38.4
             
37.2
         

*  MAR (maximum annual revenue potential of concluded transactions) was estimated by Allot upon transaction signature and constitutes an approximation of the theoretical annual revenues Allot would receive if 100% of the customer’s subscribers, as estimated by Allot, signed up for the service (the MAR of previous years ($ millions): 2018- 3, 2019- 85)
 

SECaaS (Security as a Service) revenues- U.S. dollars in millions (Unaudited)

Q4-2021:
   
1.3
   
Q3-2021:
   
1.2
   
Q2-2021:
   
0.9
   
Q1-2021:
   
0.8
   

SECaaS ARR* (annualized recurring revenues)- U.S. dollars in millions (Unaudited)

Dec. 2021:
   
5.2
   
Dec. 2020:
   
2.7
   
Dec. 2019:
   
0.5
   

*  ARR: annualized recurring SECaaS revenues, calculated based on the monthly revenues multiplied by 12

ARR - U.S. dollars in millions (Unaudited)

   
Dec. 2020
   
Dec. 2021
   
Dec. 2022 estimation
   
2021 vs. 2020
   
2022 (est.) vs. 2021
 
Support & maintenance ARR *
   
31.2
     
42.0
     
41-43
     
35%

   
(2%)-2%

                               
       
SECaaS ARR **
   
2.7
     
5.2
     
20-30
     
93%

   
285%-477%

                               
       
Total ARR
   
33.9
     
47.2
     
61-73
     
39%

   
29%-55%


*  Support & Maintenance ARR measures the current annual run rate of the support & maintenance revenues, which is calculated based on these expected revenues in the fourth quarter and multiplied by 4.

**  SECaaS 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.