Q2 2024 Allot Ltd Earnings Call Transcript
Key Points
- Allot Ltd (ALLT) generated positive operating cash flow and increased its net cash position for the first time in three years.
- Operating expenses were significantly reduced by approximately 25% compared to the previous year.
- SECaaS revenue increased by 54% year-over-year, indicating strong growth in this segment.
- The company signed an expansion agreement with a Tier-1 European CSP customer, expected to contribute to revenue by the end of the year.
- Allot Ltd (ALLT) has a strong relationship with Verizon, with potential expansion opportunities within Verizon's different customer segments.
- Overall revenue declined by 12% year-over-year, despite a slight increase from the previous quarter.
- The gross margin slightly decreased from 71.4% last year to 70.6% this quarter.
- The company reported a non-GAAP net loss of $0.8 million for the quarter.
- There is a risk of project delays in the SECaaS segment, which could impact revenue timing.
- The DPI market demand is lower than in previous years, posing challenges for growth in this segment.
Ladies and gentlemen, thank you for standing by. Welcome to Allot's results conference call. (Operator Instructions). As a reminder, this conference is being recorded.
You should have all received by now the company's press release. If you have not, please check the company's website at www.allot.com or call EK Global Investor Relations.
I would now hand over the call to Allot Investor Relations Officer, Mr. Kenny Green of EK Global Investor Relations. Mr. Green, would you like to begin?
Thank you. Good day to all of you and welcome to Allot's conference call to discuss its financial results for the quarter. I would like to thank Allot's management for hosting this conference call.
With me today on the call are Mr. Eyal Harari, CEO; and Ms. Liat Nahum, CFO. Following Eyal's prepared remarks, we will open the call for the question-and-answer session. And both Eyar and Liat will be available to answer those questions.
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