Q2 2024 Alarum Technologies Ltd Earnings Call Transcript
Key Points
- Total revenues for Q2 2024 increased to $8.9 million, a 27.2% rise from Q2 2023.
- Adjusted EBITDA reached a record $3.4 million, more than three times higher than the same quarter last year.
- Q2 marked the first consecutive quarter of positive cash flow, with a cash balance of over $21 million.
- Significant progress in the data collection and labeling market with new products like the Web Unblocker and AI Data Collector.
- Addition of major high-caliber customers, including a Fortune 100 company, highlighting the robustness of Alarum's offerings.
- Q3 2024 projected revenues are expected to be lower than Q2 due to market dynamics affecting some customers.
- Operating expenses in Q2 2024 were $4.2 million, though down from $12.8 million in Q2 2023, still a significant amount.
- Non-cash finance expenses of $2.5 million due to the fair value increase of warrants issued in 2019-2020.
- Revenue drop in Q3 attributed to a slowdown in usage by some customers, impacting monthly revenues.
- High customer concentration, with a significant portion of revenue generated by a small number of top customers.
Good day, ladies and gentlemen, thank you for standing by. Welcome to the Alarum Technologies Second Quarter 2024 Corporate Update Conference Call. (Operator Instructions) This conference is being recorded today, August 26, 2024.
Before we get started, I will read a forward-looking statements disclaimer. This conference call may contain in addition to historical information, forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws.
Forward-looking statements include statements about plans, objectives, goals, strategies, future events of performance and underlying assumptions and other statements that are different than historical facts. These forward-looking statements are based on current management expectations and are subject to risks and uncertainties that may result in expectations not being realized and may cause actual outcomes to differ materially from expectations reflected in these forward-looking statements.
Potential risks and uncertainties include those
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