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Allot Reports 2018 Sales Hike

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2/6/2019

HOD HASHARON -- Allot Ltd. (NASDAQ: ALLT, TASE: ALLT), a global provider of leading innovative network intelligence and security solutions for service providers worldwide, today announced its fourth quarter and full year 2018 financial results.

Fourth Quarter 2018 – Financial Highlights

  • Revenues were $26.9 million, up 16% year-over-year;
  • GAAP gross margin improved to 69.1% up from 66.8% in Q4 2017;
  • Non-GAAP gross margin improved to 70.3% up from 68.4% in Q4 2017;
  • GAAP operating loss narrowed to $1.4 million compared to $4.3 million in Q4 2017;
  • Non-GAAP operating loss at $99 thousand compared to a loss of $1.3 million in Q4 2017;
  • Book-to-bill above one;

    2018 – Financial Highlights

  • Revenues were $95.8 million, up 17% year-over-year;
  • GAAP gross margin improved to 69.4% up from 65.2% in 2017; Non-GAAP gross margin improved to 70.7% up from 68.0% in 2017;
  • GAAP operating loss reduced to $10.2 million compared to a loss of $17.4 million in 2017; Non-GAAP operating loss reduced to $4.8 million compared to $8.6 million in 2017;
  • Full year book-to-bill above one;
  • Backlog grew by $13.3 million to $68.9 million at year-end 2018 compared to $55.6 million at year-end 2017;
  • Year-end cash and investments totaled to $103.9 million;

    Financial Outlook

  • Management expects 2019 revenues to grow to between $106-110 million, representing continued double-digit year-over-year growth;
  • Full year 2019 book to bill ratio is expected to be above 1;
  • Management expects to close several security subscription-based deals in 2019 in addition to the Tier-1 European deal recently announced

    Management Comment

    Erez Antebi, President & CEO of Allot, commented: “We are very pleased with our performance in 2018, with revenues growing at a faster pace than we had originally expected . Our DPI business performed well in 2018, resulting from much improved execution of our teams across the globe. We are also satisfied with our performance in the security space: our pipeline of “security opex deals” is strong and we expect to close several such deals that can bring impact on our future growth beyond 2019.”

    Continued Mr. Antebi, "As we enter into 2019, I have increased confidence in our long-term potential. Following our restructuring and changes, we are now executing better in sales, support and R&D and we look forward to continue to leverage these strengths to create continuing growth in 2019 and beyond."

    Allot Ltd. (Nasdaq: ALLT)

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