Skip to Content

Stock Quote


30-day Stock Price
1 month stock price graph
Price
Change

May 25, 2024 2:43 AM EDT
Copyright Nasdaq.
Minimum 15 minutes delayed

Allot Announces Fourth Quarter & Full Year 2022 Financial Results

Allot Announces Fourth Quarter & Full Year 2022 Financial Results

February 28, 2023 at 5:00 AM EST

HOD HASHARON, Israel, Feb. 28, 2023 /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 fourth quarter and full year 2022 financial results.

Allot Ltd. Logo

Financial Highlights

  • Fourth quarter revenues were $33.0 million and full year 2022 revenues were $122.7 million;
  • SECaaS revenues were $2.2 million for Q4 and $7.2 million for FY 2022, up 79% and 73% year-over-year respectively;
  • December 2022 SECaaS ARR* was $9.2 million;
  • Q4 GAAP net loss was $6.7 million and non-GAAP net loss was $4.9 million; full year 2022 GAAP net loss was $32.0 million and non-GAAP net loss was $23.2 million;
  • Additional recurring security deals to be executed, providing incremental MAR** were reported at $191 million achieved in 2022;

Financial Outlook

Looking ahead, management's current expectations are as follows:

  • Full year 2023 revenues of $110 million to $120 million (of which SECaaS revenue are expected to be between $11 million and $13 million).
  • Full year 2023 operating loss and net negative cash flow of between $15 million and $20 million.
  • December 2023 total ARR*, including SECaaS ARR* and Support & Maintenance ARR*, is expected to be between $56 and $63 million.
  • Reiterates expectations to be profitable in 2024.

Management Comment

Erez Antebi, President & CEO of Allot, commented, "Despite a much more challenging economic environment in 2022, we are progressing with our ongoing strategy of transitioning our business to a recurring revenue model, which provides a more predictable and stable long-term revenue stream for our company.  2022 has shown continued growth in our customer roster and revenue for our security as a service product, demonstrating a viable and growing business. We are committed to being profitable in 2024 through ongoing growth of the SECaaS business, combined with tight expense control. We are confident that ultimately the shift of our business to a recurring SECaaS revenue model will deliver strong long-term value to our shareholders and drive sustainable profitable growth for years to come."

Q4 2022 Financial Results Summary

Total revenues for the fourth quarter of 2022 were $33.0 million, a decrease of 19% compared to $41.0 million in the fourth quarter of 2021.

Gross profit on a GAAP basis for the fourth quarter of 2022 was $21.9 million (gross margin of 66.3%), a 23% decline compared with $28.5 million (gross margin of 69.5%) in the fourth quarter of 2021.

Gross profit on a non-GAAP basis for the fourth quarter of 2022 was $22.4 million (gross margin of 67.7%), a 22% decline compared with $28.7 million (gross margin of 70.2%) in the fourth quarter of 2021. A one-time write off in the current quarter impacted the gross margin level.

Net loss on a GAAP basis for the fourth quarter of 2022 was $6.7 million, or $0.18 per basic share, compared with a net loss of $4.0 million, or $0.11 per basic share, in the fourth quarter of 2021.

Net loss on a non-GAAP for the fourth quarter of 2022 was $4.9 million, or $0.13 per basic share compared with a non-GAAP net loss of $2.1 million, or $0.06 per basic share, in the fourth quarter of 2021.

Full Year 2022 Financial Results Summary

Total revenues for 2022 were $122.7 million, a 16% decrease compared to $145.6 million in 2021.

Gross profit on a GAAP basis for 2022 was $82.9 million (gross margin of 67.5%), an 18% decline compared with $101.0 million (gross margin of 69.4%) in 2021.

Gross profit on a non-GAAP basis for 2022 was $84.7 million (gross margin of 69.0%), a 17% decline compared with $102.2 million (gross margin of 70.2%) in 2021.

Net loss on a GAAP basis for 2022 was $32.0 million, or $0.87 per basic share, compared with a net loss of $15.0 million, or $0.42 per basic share, in 2021.

Net loss on a non-GAAP basis for 2022 was $23.2 million, or $0.63 per basic share, compared with a net loss of $6.0 million, or $0.17 per basic share, in 2021.

Cash, short-term bank deposits and investments as of December 31, 2022 totaled $86.4 million, compared to $85.7 million as of December 31, 2021.

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

               
     

Dec. 2021 

 

Dec. 2022

 

Dec. 2023 target

 

2022 vs. 2021

 

2023 (target) vs. 2022 

Support & maintenance ARR *

42.0

 

42.5

 

41-43

 

1 %

 

(4%) -1%

                       

SECaaS ARR **

 

5.2

 

9.2

 

15-20

 

77 %

 

63%-117%

                       

Total ARR

 

47.2

 

51.7

 

 56-63

 

10 %

 

8%-22%

                       

* 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 month of December and multiplied by 12.

 

 

 

Conference Call & Webcast:

The Allot management team will host a conference call to discuss its fourth quarter and full year 2022 earnings results today, February 28, 2023 at 8:30 am ET, 3:30 pm Israel time. To access the conference call, please dial one of the following numbers:

US:  1-888-642-5032, 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: http://investors.allot.com/index.cfm 

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 over 20 million subscribers in Europe. Allot. See. Control. Secure.

For more information, visit www.allot.com

Performance Metrics

* Total ARR - Support & Maintenance ARR (measures the current annual run rate of 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 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 applicable customer segments only subscribers, as estimated by Allot, signed up for the service.

GAAP to Non-GAAP Reconciliation:

Non-GAAP net income is defined as GAAP net income after excluding stock-based compensation expenses, amortization of acquisition-related intangible assets, deferred tax asset adjustment, exchange rate differences related to revaluation of assets and liabilities denominated in non-dollar currencies, other acquisition-related expenses 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 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:

EK Global Investor Relations

Ehud Helft

+1 212 378 8040

allot@ekgir.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,

 

2022

 

2021

   

2022

 

2021

 

(Unaudited)

   

(Unaudited)

 

(Audited)

                 

Revenues

$       33,029

 

$       40,974

   

$     122,737

 

$     145,600

Cost of revenues

11,134

 

12,516

   

39,831

 

44,553

Gross profit  

21,895

 

28,458

   

82,906

 

101,047

                 

Operating expenses:

               

Research and development costs, net

12,371

 

13,005

   

49,800

 

47,093

Sales and marketing

12,881

 

15,025

   

49,393

 

52,337

General and administrative

3,703

 

4,145

   

15,982

 

15,145

Total operating expenses

28,955

 

32,175

   

115,175

 

114,575

Operating loss

(7,060)

 

(3,717)

   

(32,269)

 

(13,528)

Financial and other income, net

796

 

176

   

2,134

 

339

Loss before income tax expenses

(6,264)

 

(3,541)

   

(30,135)

 

(13,189)

                 

Tax expenses

474

 

489

   

1,895

 

1,851

Net Loss

(6,738)

 

(4,030)

   

(32,030)

 

(15,040)

                 

 Basic net loss per share

$         (0.18)

 

$         (0.11)

   

$         (0.87)

 

$         (0.42)

                 
                 

 Diluted net loss per share

$         (0.18)

 

$         (0.11)

   

$         (0.87)

 

$         (0.42)

                 

Weighted average number of shares used in 

               

computing basic net loss per share

37,325,971

 

36,426,471

   

36,975,424

 

36,050,540

                 

Weighted average number of shares used in 

               

computing diluted net loss per share

37,325,971

 

36,426,471

   

36,975,424

 

36,050,540

                 
                 
                 

 

 

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,

   

2022

 

2021

 

2022

 

2021

   

(Unaudited)

 

(Unaudited)

GAAP cost of revenues

$        11,134

 

$        12,516

 

$       39,831

 

$       44,553

 Share-based compensation (1) 

(323)

 

(137)

 

(1,133)

 

(581)

 Amortization of intangible assets (2) 

(157)

 

(152)

 

(613)

 

(608)

Non-GAAP cost of revenues

$        10,654

 

$        12,227

 

$       38,085

 

$       43,364

                 

 GAAP gross profit 

$        21,895

 

$        28,458

 

$       82,906

 

$     101,047

 Gross profit adjustments 

480

 

289

 

1,746

 

1,189

 Non-GAAP gross profit 

$        22,375

 

$        28,747

 

$       84,652

 

$     102,236

                 

 GAAP operating expenses 

$        28,955

 

$        32,175

 

$     115,175

 

$     114,575

 Share-based compensation (1) 

(1,966)

 

(1,749)

 

(8,032)

 

(7,419)

 Expenses related to M&A activities (3) 

274

 

-

 

274

 

-

 Changes in taxes and headcount related items (4)

325

 

367

 

325

 

367

 Non-GAAP operating expenses 

$        27,588

 

$        30,793

 

$     107,742

 

$     107,523

                 

 GAAP financial and other income 

$              796

 

$             176

 

$         2,134

 

$            339

 Expenses related to M&A activities (3) 

4

 

-

 

4

 

-

 Exchange rate differences* 

(85)

 

12

 

(442)

 

454

 Non-GAAP Financial and other income 

$              715

 

$             188

 

$         1,696

 

$            793

                 

 GAAP taxes on income 

$              474

 

$             489

 

$         1,895

 

$         1,851

 Tax expenses in respect of net deferred tax asset recorded 

-

 

(118)

 

-

 

(282)

 Changes in tax related items 

(25)

 

(100)

 

(100)

 

(100)

 Non-GAAP taxes on income 

$              449

 

$             271

 

$         1,795

 

$         1,469

                 

 GAAP Net Loss 

$         (6,738)

 

$        (4,030)

 

$     (32,030)

 

$     (15,040)

 Share-based compensation (1) 

2,289

 

1,886

 

9,165

 

8,000

 Amortization of intangible assets (2) 

157

 

152

 

613

 

608

 Expenses related to M&A activities (3) 

 

(270)

 

-

 

(270)

 

-

 Changes in taxes and headcount related items (4)

(325)

 

(367)

 

(325)

 

(367)

 Exchange rate differences* 

(85)

 

12

 

(442)

 

454

 Tax expenses in respect of net deferred tax asset recorded 

-

 

118

 

-

 

282

 Changes in tax related items 

 

25

 

100

 

100

 

100

 Non-GAAP Net income (loss) 

$         (4,947)

 

$        (2,129)

 

$     (23,189)

 

$       (5,963)

                 

 GAAP Loss per share (diluted) 

$           (0.18)

 

$          (0.11)

 

$         (0.87)

 

$         (0.42)

 Share-based compensation 

0.06

 

0.05

 

0.25

 

0.22

 Amortization of intangible assets 

0.01

 

0.00

 

0.02

 

0.02

 Expenses related to M&A activities 

(0.01)

 

-

 

(0.01)

 

-

Changes in taxes and headcount related items

 

(0.01)

 

(0.01)

 

(0.01)

 

(0.01)

 Exchange rate differences* 

(0.00)

 

0.01

 

(0.01)

 

0.02

 Non-GAAP Net income (loss) per share (diluted) 

$           (0.13)

 

$          (0.06)

 

$         (0.63)

 

$         (0.17)

                 
                 

Weighted average number of shares used in 

             

computing GAAP diluted net loss per share

37,325,971

 

36,426,471

 

36,975,424

 

36,050,540

                 
                 

Weighted average number of shares used in 

             

computing non-GAAP diluted net loss per share

37,325,971

 

36,426,471

 

36,975,424

 

36,050,540

                 

* 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,

   

2022

 

2021

 

2022

 

2021

   

(Unaudited)

 

(Unaudited)

                 

(1) Share-based compensation:

             
 

Cost of revenues

$              323

 

$             137

 

$                  1,133

 

$            581

 

Research and development costs, net

775

 

646

 

3,168

 

2,499

 

Sales and marketing

684

 

740

 

2,943

 

3,212

 

General and administrative

507

 

363

 

1,921

 

1,708

   

$           2,289

 

$          1,886

 

$                  9,165

 

$         8,000

                 

 (2) Amortization of intangible assets 

             
 

Cost of revenues

$              157

 

$             152

 

$                     613

 

$            608

   

$              157

 

$             152

 

$                     613

 

$            608

                 

 (3) Expenses related to M&A activities 

             
 

Research and development costs, net

$            (274)

 

$                 -

 

$                   (274)

 

$                -

 

Financial income

4

 

-

 

4

 

-

   

$            (270)

 

$                -

 

$                   (270)

 

$                -

                 

 (4) Changes in taxes and headcount related items  

             
 

Sales and marketing

$            (325)

 

$           (367)

 

$                  (325)

 

$          (367)

   

$            (325)

 

$           (367)

 

$                   (325)

 

$          (367)

                 
                 

 

 

TABLE  - 3

ALLOT LTD.

AND ITS SUBSIDIARIES

CONSOLIDATED  BALANCE  SHEETS

(U.S. dollars in thousands)

         
         
   

December 31,

 

December 31,

   

2022

 

2021

   

(Unaudited)

 

(Audited)

     

ASSETS

       

CURRENT ASSETS:

       

Cash and cash equivalents

 

$                     12,295

 

$                 11,717

Short-term bank deposits

 

68,765

 

60,720

Restricted deposits

 

1,050

 

1,480

Available-for-sale marketable securities

 

4,293

 

11,531

Trade receivables, net

 

44,167

 

30,829

Other receivables and prepaid expenses

 

7,985

 

8,490

Inventories

 

13,262

 

11,092

Total current assets

 

151,817

 

135,859

         

LONG-TERM ASSETS:

       

Long-term bank deposits

 

-

 

215

Severance pay fund

 

371

 

407

Operating lease right-of-use assets

 

5,387

 

8,513

Trade receivables, net

 

4,934

 

6,643

Other assets 

 

864

 

1,639

Total long-term assets

 

11,556

 

17,417

         

PROPERTY AND EQUIPMENT, NET

 

14,236

 

15,000

GOODWILL AND INTANGIBLE ASSETS, NET

 

35,344

 

35,138

         

Total assets

 

$                  212,953

 

$               203,414

         

LIABILITIES AND SHAREHOLDERS' EQUITY

       

CURRENT LIABILITIES:

       

Trade payables

 

$                     11,661

 

$                   3,940

Deferred revenues

 

20,825

 

22,138

Short-term operating lease liabilities

 

2,542

 

2,785

Other payables and accrued expenses

 

25,573

 

26,250

Total current liabilities

 

60,601

 

55,113

         

LONG-TERM LIABILITIES:

       

Deferred revenues

 

7,285

 

15,942

Long-term operating lease liabilities

 

2,579

 

5,467

Accrued severance pay

 

940

 

884

Convertible debt

 

39,575

 

-

Total long-term liabilities

 

50,379

 

22,293

         

SHAREHOLDERS' EQUITY

 

101,973

 

126,008

         

Total liabilities and shareholders' equity

 

$                  212,953

 

$               203,414

         
         
         

 

 

 

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,

 

2022

 

2021

 

2022

 

2021

 

(Unaudited)

 

(Unaudited)

 

(Audited)

               

Cash flows from operating activities:

             
               

Net Loss

$        (6,738)

 

$     (4,030)

 

$      (32,030)

 

$        (15,040)

Adjustments to reconcile net income to net cash used in operating activities:

             

Depreciation

2,287

 

1,255

 

6,406

 

4,635

Stock-based compensation

2,288

 

1,886

 

9,165

 

8,000

Amortization of intangible assets

241

 

235

 

946

 

941

Increase (Decrease) in accrued severance pay, net

57

 

(14)

 

92

 

(58)

Decrease (Increase) in other assets

196

 

(138)

 

775

 

1,006

Decrease (Increase) in accrued interest and  amortization of premium on marketable securities 

(13)

 

17

 

71

 

182

Changes in operating leases, net

979

 

(84)

 

(5)

 

(451)

Increase in trade receivables

(7,189)

 

(6,250)

 

(11,629)

 

(16,787)

Decrease (Increase) in other receivables and prepaid expenses

(338)

 

1,197

 

(55)

 

4,902

Decrease (Increase) in inventories

(586)

 

(2,194)

 

(2,170)

 

1,494

Decrease in long-term deferred taxes, net

-

 

255

 

-

 

420

Increase in trade payables

5,608

 

2,552

 

7,721

 

1,848

Increase (Decrease) in employees and payroll accruals

1,873

 

2,531

 

(385)

 

458

Increase (Decrease) in deferred revenues

(6,815)

 

(9,684)

 

(9,970)

 

1,640

Increase (Decrease) in other payables, accrued expenses and other long term liabilities

(1,586)

 

1,938

 

(1,668)

 

(1,559)

Amortization of issuance costs of Convertible debt

50

 

-

 

171

 

-

Net cash used in operating activities

(9,686)

 

(10,528)

 

(32,565)

 

(8,369)

               

Cash flows from investing activities:

             

Decrease (Increase) in restricted deposit

50

 

120

 

430

 

(280)

Redemption of (Investment in) short-term deposits

15,350

 

14,205

 

(7,830)

 

(13,495)

Purchase of property and equipment

(1,507)

 

(3,051)

 

(5,642)

 

(7,642)

Acquisitions, net of Cash acquired, and other

(500)

 

-

 

(500)

 

-

Proceeds from redemption or sale of available-for sale marketable securities

-

 

5,162

 

7,030

 

15,094

Net cash provided by (used in) investing activities

13,393

 

16,436

 

(6,512)

 

(6,323)

               

Cash flows from financing activities:

             

Proceeds from exercise of stock options

1

 

150

 

251

 

2,810

Issuance of convertible debt

-

 

-

 

39,404

 

-

Net cash provided by financing activities

1

 

150

 

39,655

 

2,810

               
               

Increase (Decrease) in cash and cash equivalents

3,708

 

6,058

 

578

 

(11,882)

Cash and cash equivalents at the beginning of the period

8,587

 

5,659

 

11,717

 

23,599

               

Cash and cash equivalents at the end of the period

$        12,295

 

$     11,717

 

$        12,295

 

$          11,717

               
               
               

 

 

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

 
 
     

Q4-2022

 

FY 2022

 

FY 2021

 

Revenues geographic breakdown

           
 

Americas

 

5.6

17 %

21.8

18 %

19.4

14 %

 

EMEA

 

21.2

64 %

71.2

58 %

82.0

56 %

 

Asia Pacific

 

6.2

19 %

29.7

24 %

44.2

30 %

     

33.0

100 %

122.7

100 %

145.6

100 %

                 

Revenue breakdown by type

           
 

Products

 

17.2

52 %

61.1

50 %

88.1

60 %

 

Professional Services

3.0

9 %

11.6

9 %

15.2

11 %

 

SECaaS (Security as a Service)

2.2

7 %

7.2

6 %

4.1

3 %

 

Support & Maintenance

10.6

32 %

42.8

35 %

38.2

26 %

     

33.0

100 %

122.7

100 %

145.6

100 %

                 

Revenues per customer type

           
 

CSP

 

27.0

82 %

98.3

80 %

116.9

80 %

 

Enterprise

 

6.0

18 %

24.4

20 %

28.7

20 %

     

33.0

100 %

122.7

100 %

145.6

100 %

                 

Security revenues

     

28.5

 

40.1

 
                 

Incremental MAR*

     

191.0

 

193.0

 
                 

Backlog (end of period)

     

87.7

 

88.6

 
                 

% of top-10 end-customers out of revenues

57 %

 

44 %

 

51 %

 
                 

Total number of full time employees 

749

 

749

 

741

 

(end of period)

             
                 

  Non-GAAP Weighted average number of basic shares 
  (in millions)

37.3

 

37.0

 

36.1

 
           
                 

Non-GAAP weighted average number of fully diluted shares 
  (in millions)

39.4

 

39.5

 

38.4

 

*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): 2019- 85, 2020- 192)

                 

 

 

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

       
                   

Q4-2022:

2.2

               

Q3-2022:

1.7

               

Q2-2022:

1.7

               

Q1-2022:

1.5

               
                   

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

       
                   

Dec. 2022:

9.2

               

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

     
                   

 

 

Cision View original content:https://www.prnewswire.com/news-releases/allot-announces-fourth-quarter--full-year-2022-financial-results-301757683.html

SOURCE Allot Ltd.