Allot Reports Growth and Loss Reduction in Q1 2024

Allot (ALLT) has released an update.

Allot Ltd., a provider of network intelligence and security solutions, reported a 4% year-over-year increase in first quarter revenues for 2024, reaching $21.9 million, with significant improvements in gross margins and reductions in net loss. Gross margins rose to 69.0% on a GAAP basis and 70.4% on a non-GAAP basis, while GAAP net loss dropped by 77.9% to $2.5 million and non-GAAP net loss by 88.8% to $0.9 million. The company reiterated its expectation for a non-GAAP operating profit and continued yearly double-digit growth for its Security as a Service (SECaaS) revenues and annual recurring revenue (ARR).

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