Allot Turns To Profit In Q4, Signs Deal With Verizon; Stock Climbs In Pre-market - Update

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(RTTNews) - Shares of Allot Ltd. (ALLT) were gaining around 13 percent in the pre-market activity on the Nasdaq after the provider of network intelligence and security solutions reported Tuesday a profit in its fourth quarter, compared to prior year's loss, with growth in revenues.

Separately, Allot announced that it is partnering with telecom major Verizon Communications Inc. (VZ) for expansion of cybersecurity capabilities.

Regarding the outlook, Eyal Harari, CEO of Allot, said, "Looking ahead to 2025, we remain focused on advancing our strategy and executing on another year of double-digit SECaaS revenue and ARR growth, and improved profitability."

Allot announced that its NetworkSecure offering is helping support the expansion of Verizon Business cybersecurity capabilities to boost protection for customers against a broad range of mobile cyber threats.

NetworkSecure is a monetizable network-based solution, offering zero-touch, clientless operation, requiring no application installation by the end customer. It gives protection from cyberthreats, including viruses and other types of malware and phishing and ransomware attacks.

In its fourth quarter, Allot's net income was $0.24 million or $0.01 per share, compared to net loss of $18.35 million or $0.48 loss per share in 2023.

Adjusted earnings were $2.01 million or $0.05 per share for the period, compared to adjusted net loss of $16.4 million or $0.43 loss per share last year.

Total revenues for the fourth quarter were $24.91 million, a 2 percent increase from $24.33 million in the same period last year.

On the Nasdaq, Allot shares closed Monday's regular trading at $6.61, down 2.4 percent.

In the pre-market activity, the shares were trading at $7.46, up 12.86 percent.

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