0001178913-23-003032 | 6-K | XBRL Viewer

Document and Entity Information	6 Months Ended
Jun. 30, 2023
Cover Abstract
Entity Registrant Name	ALLOT LTD.
Entity Central Index Key	0001365767
Document Type	6-K
Document Period End Date	Jun. 30, 2023
Amendment Flag	false
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Entity Address, Address Line One	22 Hanagar Street
Entity Address, Address Line Two	Neve Ne'eman Industrial Zone B
Entity Address, City or Town	Hod-Hasharon
Entity Address, Postal Zip Code	45240
Entity Address, Country	IL

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 15,473	$ 12,295
Short-term bank deposits	30,065	68,765
Restricted deposits	1,274	1,050
Available-for-sale marketable securities	19,061	4,293
Trade receivables, net (net of allowance for credit losses of $17,365 and $2,908 on June 30, 2023 and December 31, 2022, respectively)	29,445	44,167
Other receivables and prepaid expenses	7,023	7,985
Inventories	18,360	13,262
Total current assets	120,701	151,817
LONG-TERM ASSETS:
Severance pay fund	361	371
Operating lease right-of-use assets	3,937	5,387
Trade receivables, net	4,767	4,934
Other assets	1,058	864
Total long-term assets	10,123	11,556
PROPERTY AND EQUIPMENT, NET	12,149	14,236
GOODWILL AND INTANGIBLE ASSETS, NET	34,791	35,344
Total assets	177,764	212,953
CURRENT LIABILITIES:
Trade payables	9,460	11,661
Deferred revenues	20,427	20,825
Short-term operating lease liabilities	2,103	2,542
Other payables and accrued expenses	21,173	25,573
Total current liabilities	53,163	60,601
LONG-TERM LIABILITIES:
Deferred revenues	6,384	7,285
Long-term operating lease liabilities	1,475	2,579
Accrued severance pay	1,003	940
Convertible Debt	39,673	39,575
Total long-term liabilities	48,535	50,379
SHAREHOLDERS' EQUITY	76,066	101,973
Total liabilities and shareholders' equity	$ 177,764	$ 212,953

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 25,047	$ 32,772	$ 46,173	$ 64,668
Cost of revenues	7,707	10,242	15,358	20,034
Gross profit	17,340	22,530	30,815	44,634
Operating expenses:
Research and development costs, net	10,752	12,480	21,246	24,510
Sales and marketing	10,522	12,220	21,409	23,909
General and administrative	17,558	4,303	21,518	8,340
Total operating expenses	38,832	29,003	64,173	56,759
Operating loss	(21,492)	(6,473)	(33,358)	(12,125)
Financial and other income, net	985	620	1,779	867
Loss before income tax expenses	(20,507)	(5,853)	(31,579)	(11,258)
Tax expenses	225	380	515	1,102
Net Loss	$ (20,732)	$ (6,233)	$ (32,094)	$ (12,360)
Basic net loss per share	$ (0.55)	$ (0.17)	$ (0.85)	$ (0.34)
Diluted net loss per share	$ (0.55)	$ (0.17)	$ (0.85)	$ (0.34)
Weighted average number of shares used in computing basic net loss per share (shares)	37,743,328	36,827,197	37,583,412	36,684,017
Weighted average number of shares used in computing diluted net loss per share (shares)	37,743,328	36,827,197	37,583,412	36,684,017

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net Loss	$ (20,732)	$ (6,233)	$ (32,094)	$ (12,360)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	1,327	1,332	2,647	2,746
Stock-based compensation	2,425	2,169	5,893	4,706
Amortization of intangible assets	277	235	553	470
Increase in accrued severance pay, net	13	26	73	20
Decrease (Increase) in other assets	168	19	(194)	436
Decrease (Increase) in accrued interest and amortization of premium on marketable securities	(166)	16	(147)	48
Changes in operating leases, net	290	(191)	(93)	(563)
Decrease (Increase) in trade receivables	10,403	(4,082)	14,889	(4,807)
Decrease (Increase) in other receivables and prepaid expenses	300	141	1,161	(893)
Decrease (Increase) in inventories	(1,645)	591	(5,098)	(1,164)
Decrease in trade payables	(2,941)	(1,433)	(2,202)	(937)
Increase (Decrease) in employees and payroll accruals	(1,042)	523	(2,494)	(1,963)
Increase (Decrease) in deferred revenues	870	287	(1,299)	1,129
Decrease in other payables, accrued expenses and other long term liabilities	(923)	(1,252)	(1,824)	(1,523)
Amortization of issuance costs of Convertible debt	49	49	98	71
Net cash used in operating activities	(11,327)	(7,803)	(20,131)	(14,584)
Cash flows from investing activities:
Decrease (Increase) in restricted deposit	(224)	260	(224)	380
Redemption of (Investment in) short-term deposits	21,700	520	38,700	(25,180)
Purchase of property and equipment	(290)	(1,281)	(560)	(2,556)
Investment in available-for sale marketable securities	(9,584)	0	(18,567)	0
Proceeds from redemption or sale of available-for sale marketable securities	590	2,872	3,960	6,030
Net cash provided by (used in) investing activities	12,192	2,371	23,309	(21,326)
Cash flows from financing activities:
Proceeds from exercise of stock options	0	15	0	250
Issuance of convertible debt	0	0	0	39,404
Net cash provided by financing activities	0	15	0	39,654
Increase (Decrease) in cash and cash equivalents	865	(5,417)	3,178	3,744
Cash and cash equivalents at the beginning of the period	14,608	20,878	12,295	11,717
Cash and cash equivalents at the end of the period	$ 15,473	$ 15,461	$ 15,473	$ 15,461

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 17,365	$ 2,908

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Cover Document and Entity Information Financial Statements CONSOLIDATED STATEMENTS OF OPERATIONS CONSOLIDATED BALANCE SHEETS CONSOLIDATED BALANCE SHEETS (Parenthetical) CONSOLIDATED STATEMENTS OF CASH FLOWS All Reports