The following is a summary of the Allot Ltd. (ALLT) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Allot reported Q4 revenues of $24.3 million, a 26% decrease year over year.

• Full year 2023 revenues were $93.1 million, reflecting a decrease of 24% compared to 2022.

• Cash and equivalents at the end of 2023 were $54.9 million, down from $86.4 million at the end of 2022.

• Backlog as of December 31, 2023, stood at $58.8 million, down from $87.7 million at the end of 2022.

• Non-GAAP operating loss for 2023 was $55.2 million compared to a loss of $23.1 million in 2022.

• Negative net cash flow for 2023 was marked at $31.5 million.

Business Progress:

• Transformation to a SECaaS model faced headwinds with cancellation from two large operators.

• Budget constraints from governments and CSPs led to complications in the core DPI business.

• Cost-cutting and restructuring efforts took place in 2023, resulting in a reduced employee count and cost base.

• Sharper focus will be put on lower ARPU countries due to their perceived higher growth potential.

• The company's 2024 plan predicts breakeven while also investing in future growth.

• Despite slower than anticipated development, focus will stay on developing the SECaaS business.

• No further guidance on yearly or quarterly numbers will be provided for 2024.

• In 2023, EMEA accounted for 60% of Allot's revenues, America 18%, and Asia 22%.

• The company plans a reduction in workforce by 9% by the end of Q1 2024, from 559 to around 510 employees.

• Total investment amount for 2024 is expected to be between $17 million and $19 million.

More details: Allot IR

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