The following is a summary of the Allot Ltd. (ALLT) Q1 2024 Earnings Call Transcript:
Financial Performance:
Allot reported Q1 revenue of $22 million, a 4% increase from last year's Q1.
Gross margins improved significantly, returning to the 70% range from the 60% average of 2023.
The company posted an operating loss of $1.4 million and a cash flow deficit of $2.4 million, with an EBITDA loss just under the breakeven point at $1 million for the quarter.
SECaaS revenues stood at $3.4 million, marking a 48% year-over-year increase.
Business Progress:
The company is targeting a breakeven point in 2024, reducing operational expenses and lowering its employee count by 35% since September 2022.
Allot continues to focus on its current SECaaS customer base, maintaining ties with leading companies like Verizon, Vodafone, Telefonica, and Hutchison.
An aggressive go-to-market strategy is being adopted to broaden the customer base, with a selective focus on strategic SECaaS opportunities.
CFO Ziv Leitman is departing at the end of June 2024, and Liat Nahum will succeed him.
More details: Allot IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.