The following is a summary of the Alarum Technologies Ltd. (ALAR) Q4 2023 Earnings Call Transcript:
Financial Performance:
Alarum Technologies reported strong growth with full-year 2023 revenues increasing by 39% from $18.5 million in 2022 to $26.5 million in 2023.
The company recorded an IFRS net loss from continuing operations of $5.6 million for the full year as compared to a net loss of $12.5 million in 2022.
Alarum reported a record net profit of $1.7 million for Q1 2024.
Gross profit for the full year increased by 85% to $18.8 million, mainly driven by the sharp growth in the NetNut business.
As of December 31, 2023, the company held cash and cash equivalents totalling $10.9 million.
Business Progress:
The company focused on its product NetNut and data collection solutions, which led to higher profitability by Q3 2023.
Alarum introduced two new products in 2023 : The Google SERP Scraper API and the Website Unblocker.
The company continues to explore new market segments, including AI-powered sales intelligence, fintech, and AI recruiting markets.
Alarum plans on increasing its market share in the IPPN vertical and expand to new regions in 2024.
The company aims to penetrate the data collection and labeling market with its AI scraper and Web Unblocker distribution and plans to add AI analysis capabilities to their data products.
More details: Alarum Technologies IR
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