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Allot
Earnings Release • Feb 15, 2022
6632_rns_2022-02-15_a391ac33-3874-4c5f-b781-5583027c5b90.pdf
Earnings Release
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Allot Announces Fourth Quarter & Full Year 2021 Financial Results
Total ARR up 39% year-over-year; New security recurring revenue deals executed in 2021 added \$193 million of incremental MAR;
Hod Hasharon, Israel – February 15, 2022 - Allot Ltd. (NASDAQ: ALLT, TASE: ALLT), a leading global provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, today announced its unaudited fourth quarter and full year 2021 financial results.
Financial Highlights
- Fourth quarter revenues were \$41.0 million, up 5% year-over-year;
- Full year revenues were \$145.6 million, up 7% year-over-year;
- Gross margin on a non-GAAP basis in 2021 was 70% compared to 71% in 2020;
- Total ARR* for December 2021, including SECaaS ARR* and Support & Maintenance ARR* was \$47 million, up 39% year-over-year;
- Incremental MAR** (maximum annual revenue potential of concluded transactions) reported for the year 2021 was \$193 million;
- GAAP operating loss for Q4 2021 was \$3.7 million compared to \$1.2 in Q4 2020;
- Non-GAAP operating loss for Q4 2021 was \$2 million compared to an operating profit of \$0.5 million in Q4 2020;
Financial Outlook
For 2022, management expects:
- Revenues to be between \$147-153 million;
- Additional recurring security deals to be executed, providing incremental MAR** of more than \$180 million;
- December 2022 total ARR* including SECaaS ARR* and Support & Maintenance ARR* to be between \$61-\$73 million, representing more than 40% year-over-year growth versus 2021 at the midpoint;
- December 2022 SECaaS ARR* to be between \$20-\$30 million;
- Recurring security revenue to be between \$10-\$15 million;
Management Comment
Erez Antebi, President & CEO of Allot, commented: "During 2021 more of our SECaaS partners began to launch their service, and we started to show traction and revenue growth from recurring security services. This year, more network-based security deals were signed by operators worldwide than in any previous year. By our count, we won most of these deals that were closed during the year. We see this as a testament to the accelerated growth in the network-based security market, as well as our leadership and strength in the market. I expect this trend will continue in 2022 and beyond."
Convertible Notes
The Company issued a separate Press Release announcing the signing of a \$40 million private financing with Lynrock Lake Master Fund LP.
Q4 2021 Financial Results Summary
Total revenues for the fourth quarter of 2021 were \$41.0 million, an increase of 5% compared to \$39.1 million in the fourth quarter of 2020.
Gross profit on a GAAP basis for the fourth quarter of 2021 was \$28.5 million (gross margin of 69.5%), a 4% improvement compared with \$27.5 million (gross margin of 70.3%) in the fourth quarter of 2020.
Gross profit on a non-GAAP basis for the fourth quarter of 2021 was \$28.7 million (gross margin of 70.2%), a 4% improvement compared with \$27.7 million (gross margin of 70.9%) in the fourth quarter of 2020.
Net loss on a GAAP basis for the fourth quarter of 2021 was \$4.0 million, or \$0.11 per basic share, compared with a net loss of \$1.7 million, or \$0.05 per basic share, in the fourth quarter of 2020.
Net loss on a non-GAAP for the fourth quarter of 2021 was \$2.1 million, or \$0.06 loss per basic share compared with a net income of \$0.4 million, or \$0.01 earning per basic share, in the fourth quarter of 2020.
2021 Financial Results Summary
Total revenues for 2021 were \$145.6 million, an increase of 7% compared to \$135.9 million in 2020.
Gross profit on a GAAP basis for 2021 was \$101.0 million (gross margin of 69.4%), a 5% improvement compared with \$95.8 million (gross margin of 70.5%) in 2020.
Gross profit on a non-GAAP basis for 2021 was \$102.2 million (gross margin of 70.2%), a 6% improvement compared with \$96.8 million (gross margin of 71.2%) in 2020.
Net loss on a GAAP basis for 2021 was \$15.0 million, or \$0.42 per basic share, compared with a net loss of \$9.3 million, or \$0.27 per basic share, in 2020.
Net loss on a non-GAAP basis for 2021 was \$6.0 million, or \$0.17 per basic share, compared with a net loss of \$3.6 million, or \$0.10 per basic share, in 2020.
Cash and investments as of December 31, 2021 totaled \$85.7 million, compared to \$99.4 million as of December 31, 2020.
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Conference Call & Webcast:
The Allot management team will host a conference call to discuss fourth quarter and full year 2021 earnings results today, February 15, 2022 at 8:30 am ET, 3:30 pm Israel time. To access the conference call, please dial one of the following numbers:
US: 1-888-668-5032, Israel: +972-3-918-0609
A live webcast and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: http://investors.allot.com/index.cfm
About Allot
Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a leading provider of innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed, and cloud service providers and over 1,000 enterprises. Our industry leading networkbased security-as-a-service solution has achieved over 50% penetration with some service providers and is already used by over 20 million subscribers in Europe. Allot. See. Control. Secure.
For more information, visit www.allot.com
*Total ARR - Support & Maintenance ARR (measures the current annual run rate of the support & maintenance revenues, which is calculated based on these expected revenues in the fourth quarter and multiplied by 4) and SECaaS ARR (measures the current annual run rate of the SECaaS revenues, which is calculated based on these expected revenues in the current month of December and multiplied by 12).
**MAR (maximum annual revenue potential of concluded transactions) was estimated by Allot upon transaction signature and constitutes an approximation of the theoretical annual revenues Allot would receive if 100% of the customer's subscribers, as estimated by Allot, signed up for the service.
GAAP to Non-GAAP Reconciliation:
The difference between GAAP and non-GAAP revenues is related to the acquisitions made by the Company and represents revenues adjusted for the impact of the fair value adjustment to acquired deferred revenue related to purchase accounting. Non-GAAP net income is defined as GAAP net income after including deferred revenues related to the fair value adjustment resulting from purchase
accounting and excluding stock-based compensation expenses, amortization of acquisition-related intangible assets, deferred tax asset adjustment, changes in taxes related items and other acquisitionrelated expenses.
These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results is provided in the accompanying Table 2. The Company provides these non-GAAP financial measures because it believes they present a better measure of the Company's core business and management uses the non-GAAP measures internally to evaluate the Company's ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company's operating performance.
Safe Harbor Statement
This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors, government regulation; the timing of completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; court approval of the Company's proposed share buy-back program; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forwardlooking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: GK Investor Relations Ehud Helft +1 212 378 8040 [email protected]
Public Relations Contact: Seth Greenberg, Allot Ltd. +972 54 922 2294 [email protected]
TABLE - 1
ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)
| Three Months Ended | Year Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| December 31, | December 31, | ||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||||
| Revenues | \$ 40,974 |
\$ 39,091 |
\$ 145,600 |
\$ 135,922 |
|||||
| Cost of revenues | 12,516 | 11,627 | 44,553 | 40,082 | |||||
| Gross profit | 28,458 | 27,464 | 101,047 | 95,840 | |||||
| Operating expenses: |
|||||||||
| Research and development costs, net |
13,005 | 12,611 | 47,093 | 43,447 | |||||
| Sales and marketing |
15,025 | 12,787 | 52,337 | 47,528 | |||||
| General and administrative |
4,145 | 3,223 | 15,145 | 13,894 | |||||
| Total operating expenses |
32,175 | 28,621 | 114,575 | 104,869 | |||||
| Operating loss |
(3,717) | (1,157) | (13,528) | (9,029) | |||||
| Financial and other income, net |
176 | 343 | 339 | 1,857 | |||||
| Loss before income tax expenses |
(3,541) | (814) | (13,189) | (7,172) | |||||
| Tax expenses |
489 | 867 | 1,851 | 2,176 | |||||
| Net Loss | (4,030) | (1,681) | (15,040) | (9,348) | |||||
| Basic net loss per share | \$ (0.11) |
\$ (0.05) ₪ - |
\$ (0.42) |
\$ (0.27) |
|||||
| Diluted net loss per share |
\$ (0.11) |
\$ (0.05) |
\$ (0.42) |
\$ (0.27) |
|||||
| Weighted average number of shares used in computing basic net loss per share |
36,426,471 | 35,317,213 | 36,050,540 | 35,007,201 | |||||
| Weighted average number of shares used in computing diluted net loss per share |
36,426,471 | 35,317,213 | 36,050,540 | 35,007,201 |
TABLE -2 ALLOT LTD.
AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except per share data)
| Three Months Ended December 31, |
Year Ended December 31, |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 2020 |
2021 | |||||||||
| (Unaudited) | (Unaudited) | 2020 | ||||||||
| GAAP cost of revenues |
\$ | 12,516 | \$ | 11,627 | \$ 44,553 |
\$ | 40,082 | |||
| Share-based compensation (1) |
(137) | (113) | (581) | (355) | ||||||
| Amortization of intangible assets (2) |
(152) | (152) | (608) | (608) | ||||||
| Non-GAAP cost of revenues |
\$ | 12,227 | \$ | 11,362 | \$ 43,364 |
\$ | 39,119 | |||
| GAAP gross profit |
\$ | 28,458 | \$ | 27,464 | \$ 101,047 |
\$ | 95,840 | |||
| Gross profit adjustments | 289 | 265 | 1,189 | 963 | ||||||
| Non-GAAP gross profit |
\$ | 28,747 | \$ | 27,729 | \$ 102,236 |
\$ | 96,803 | |||
| GAAP operating expenses |
\$ | 32,175 | \$ | 28,621 | \$ 114,575 |
\$ | 104,869 | |||
| Share-based compensation (1) |
(1,749) | (1,663) | (7,419) | (4,843) | ||||||
| Expenses related to M&A activities (3) |
- | - | - | (82) | ||||||
| Changes in taxes and headcount related items (4) |
367 | 296 | 367 | 296 | ||||||
| Non-GAAP operating expenses |
\$ | 30,793 | \$ | 27,254 | \$ 107,523 |
\$ | 100,240 | |||
| GAAP financial and other income |
\$ | 176 | \$ | 343 | \$ 339 |
\$ | 1,857 | |||
| Exchange rate differences* |
12 | (84) | 454 | (552) | ||||||
| Non-GAAP Financial and other income |
\$ | 188 | \$ | 259 | \$ 793 |
\$ | 1,305 | |||
| GAAP taxes on income |
\$ | 489 | \$ | 867 | \$ 1,851 |
\$ | 2,176 | |||
| Tax expenses in respect of net deferred tax asset recorded |
(118) | (15) | (282) | (202) | ||||||
| Changes in tax related items |
(100) | (500) | (100) | (500) | ||||||
| Non-GAAP taxes on income |
\$ | 271 | \$ | 352 | \$ 1,469 |
\$ | 1,474 | |||
| GAAP Net Loss |
\$ | (4,030) | \$ | (1,681) | \$ (15,040) |
\$ | (9,348) | |||
| Share-based compensation (1) |
1,886 | 1,776 | 8,000 | 5,198 | ||||||
| Amortization of intangible assets (2) Expenses related to M&A activities (3) |
152 - |
152 - |
608 - |
608 82 |
||||||
| Changes in taxes and headcount related items (4) |
(367) | (296) | (367) | (296) | ||||||
| Exchange rate differences* |
12 | (84) | 454 | (552) | ||||||
| Tax expenses in respect of net deferred tax asset recorded |
118 | 15 | 282 | 202 | ||||||
| Changes in tax related items |
100 | 500 | 100 | 500 | ||||||
| Non-GAAP Net income (loss) |
\$ | (2,129) | \$ | 382 | \$ (5,963) |
\$ | (3,606) | |||
| GAAP Loss per share (diluted) |
\$ | (0.11) | \$ | (0.05) | \$ (0.42) |
\$ | (0.27) | |||
| Share-based compensation |
0.05 | 0.05 | 0.22 | 0.15 | ||||||
| Amortization of intangible assets |
0.00 | 0.01 | 0.02 | 0.02 | ||||||
| Expenses related to M&A activities |
- | - | - | 0.01 | ||||||
| Changes in taxes and headcount related items |
(0.01) | (0.01) | (0.01) | (0.01) | ||||||
| Exchange rate differences* |
0.01 | (0.00) | 0.02 | (0.01) | ||||||
| Changes in tax related items |
0.00 | 0.01 | 0.00 | 0.01 | ||||||
| Non-GAAP Net income (loss) per share (diluted) |
\$ | (0.06) | \$ | 0.01 | \$ (0.17) |
\$ | (0.10) | |||
| Weighted average number of shares used in |
||||||||||
| computing GAAP diluted net loss per share |
36,426,471 | 35,317,213 | 36,050,540 | 35,007,201 | ||||||
| Weighted average number of shares used in |
||||||||||
| computing non-GAAP diluted net loss per share |
36,426,471 | 37,574,546 | 36,050,540 | 35,007,201 |
* Financial income or expenses related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies.
ALLOT LTD. TABLE - 2 cont.
AND ITS SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except per share data)
| Three Months Ended December 31, |
Year Ended December 31, |
||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | ||||||
| (Unaudited) | (Unaudited) | ||||||||
| (1) Share-based compensation: |
|||||||||
| Cost of revenues | \$ | 137 | \$ | 113 | \$ | 581 | \$ | 355 | |
| Research and development costs, net |
646 | 412 | 2,499 | 1,368 | |||||
| Sales and marketing |
740 | 683 | 3,212 | 2,145 | |||||
| General and administrative |
363 | 568 | 1,708 | 1,330 | |||||
| \$ | 1,886 | \$ | 1,776 | \$ | 8,000 | \$ | 5,198 | ||
| (2) Amortization of intangible assets |
|||||||||
| Cost of revenues | \$ | 152 | \$ | 152 | \$ | 608 | \$ | 608 | |
| \$ | 152 | \$ | 152 | \$ | 608 | \$ | 608 | ||
| (3) Expenses related to M&A activities |
|||||||||
| Research and development costs, net |
\$ | - | \$ | - | \$ | - | \$ | 82 | |
| \$ | - | \$ | - | \$ | - | \$ | 82 | ||
| (4) Changes in taxes and headcount related items |
|||||||||
| Sales and marketing |
\$ | (367) | \$ | (296) | \$ | (367) | \$ | (296) | |
| \$ | (367) | \$ | (296) | \$ | (367) | \$ | (296) |
TABLE - 3 ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (U.S. dollars in thousands)
| December 31, 2021 |
December 31, 2020 |
||||||
|---|---|---|---|---|---|---|---|
| (Unaudited) | (Audited) | ||||||
| ASSETS | |||||||
| CURRENT ASSETS: |
|||||||
| Cash and cash equivalents |
\$ | 11,717 | \$ | 23,599 | |||
| Short-term bank deposits |
60,720 | 47,225 | |||||
| Restricted deposits |
1,480 | 1,200 | |||||
| Available-for-sale marketable securities |
11,531 | 27,178 | |||||
| Trade receivables, net |
30,829 | 20,685 | |||||
| Other receivables and prepaid expenses |
8,490 | 14,205 | |||||
| Inventories | 11,092 | 12,586 | |||||
| Total current assets |
135,859 | 146,678 | |||||
| LONG-TERM ASSETS: |
|||||||
| Long-term bank deposits |
215 | 215 | |||||
| Severance pay fund |
407 | 434 | |||||
| Operating lease right-of-use assets |
8,513 | 4,458 | |||||
| Trade receivables, net |
6,643 | - | |||||
| Deferred taxes |
(0) | 420 | |||||
| Other assets |
1,639 | 2,975 | |||||
| Total long-term assets |
17,417 | 8,502 | |||||
| PROPERTY AND EQUIPMENT, NET |
15,000 | 11,993 | |||||
| GOODWILL AND INTANGIBLE ASSETS, NET |
35,138 | 34,427 | |||||
| Total assets |
\$ | 203,414 | \$ | 201,600 | |||
| LIABILITIES AND SHAREHOLDERS' |
|||||||
| EQUITY | |||||||
| CURRENT LIABILITIES: Trade payables |
\$ | 3,940 | \$ | 2,092 | |||
| Deferred revenues |
22,138 | 26,658 | |||||
| Short-term operating lease liabilities |
2,785 | 2,813 | |||||
| Other payables and accrued expenses |
26,250 | 27,299 | |||||
| Total current liabilities |
55,113 | 58,862 | |||||
| LONG-TERM LIABILITIES: |
|||||||
| Deferred revenues |
15,942 | 9,782 | |||||
| Long-term operating lease liabilities |
5,467 | 1,835 | |||||
| Accrued severance pay |
884 | 969 | |||||
| Total long-term liabilities |
22,293 | 12,586 | |||||
| SHAREHOLDERS' EQUITY |
126,008 | 130,152 | |||||
| Total liabilities and shareholders' equity |
\$ | 203,414 | \$ | 201,600 |
TABLE - 4
ALLOT LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (U.S. dollars in thousands)
| Three Months Ended December 31, |
Year Ended December 31, |
|||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | 2021 | 2020 | |||||
| (Unaudited) (Unaudited) | (Unaudited) | (Audited) | ||||||
| Cash flows from operating activities: |
||||||||
| Net Loss | \$ | (4,030) | \$ | (1,681) | \$ | (15,040) | \$ | (9,348) |
| Adjustments to reconcile net income to net cash used in operating activities: |
||||||||
| Depreciation | 1,255 | 1,041 | 4,635 | 3,704 | ||||
| Stock-based compensation |
1,886 | 1,776 | 8,000 | 5,198 | ||||
| Amortization of intangible assets |
235 | 152 | 941 | 608 | ||||
| Capital loss | - | 18 | - | 18 | ||||
| Increase (Decrease) in accrued severance pay, net |
(14) | 92 | (58) | 128 | ||||
| Decrease (Increase) in other assets |
(138) | (2,315) | 1,006 | (2,048) | ||||
| Decrease in accrued interest and amortization of premium on marketable securities |
17 | 11 | 182 | 357 | ||||
| Changes in operating leases, net |
(84) | 198 | (451) | (413) | ||||
| Decrease (Increase) in trade receivables |
(6,250) | (1,740) | (16,787) | 8,323 | ||||
| Decrease (Increase) in other receivables and prepaid expenses |
1,197 | (6,126) | 4,902 | (7,272) | ||||
| Decrease (Increase) in inventories |
(2,194) | 2,950 | 1,494 | (1,918) | ||||
| Decrease (Increase) in long-term deferred taxes, net |
255 | (76) | 420 | 96 | ||||
| Increase (Decrease) in trade payables |
2,552 | (8,807) | 1,848 | (9,584) | ||||
| Increase in employees and payroll accruals |
2,531 | 2,395 | 458 | 2,047 | ||||
| Increase (Decrease) in deferred revenues |
(9,684) | 4,215 | 1,640 | (5,182) | ||||
| Increase (Decrease) in other payables, accrued expenses and other long term liabilities |
1,938 | 2,091 | (1,559) | 3,061 | ||||
| Net cash used in operating activities |
(10,528) | (5,806) | (8,369) | (12,225) | ||||
| Cash flows from investing activities: |
||||||||
| Decrease (Increase) in restricted deposit |
120 | 519 | (280) | 32,896 | ||||
| Redemption of (Investment in) short-term deposits |
14,205 | 7,936 | (13,495) | (41,883) | ||||
| Purchase of property and equipment |
(3,051) | (2,035) | (7,642) | (7,582) | ||||
| Investment in available-for sale marketable securities |
- | (844) | - | (1,219) | ||||
| Proceeds from redemption or sale of available-for sale marketable securities |
5,162 | 5,483 | 15,094 | 34,847 | ||||
| Net cash provided by (used in) investing activities |
16,436 | 11,059 | (6,323) | 17,059 | ||||
| Cash flows from financing activities: |
||||||||
| Proceeds from exercise of stock options |
150 | 155 | 2,810 | 1,835 | ||||
| Net cash provided by financing activities |
150 | 155 | 2,810 | 1,835 | ||||
| Increase (Decrease) in cash and cash equivalents |
6,058 | 5,408 | (11,882) | 6,669 | ||||
| Cash and cash equivalents at the beginning of the period |
5,659 | 18,191 | 23,599 | 16,930 | ||||
| Cash and cash equivalents at the end of the period |
\$ | 11,717 | \$ | 23,599 | \$ | 11,717 | \$ | 23,599 |
| Other | financial | metrics | (Unaudited) |
|---|---|---|---|
U.S. dollars in millions, except number of full time employees, % of top-10 endcustomers out of revenues and number of shares
| Q4-2021 | FY 2021 |
FY 2020 |
||||
|---|---|---|---|---|---|---|
| Revenues geographic breakdown | ||||||
| Americas | 9.8 | 24% | 19.4 | 14% | 8.1 | 6% |
| EMEA | 16.5 | 40% | 82.0 | 56% | 104.3 | 77% |
| Asia Pacific | 14.7 | 36% | 44.2 | 30% | 23.5 | 17% |
| 41.0 | 100% | 145.6 | 100% | 135.9 | 100% | |
| Breakdown between products & services revenues |
||||||
| Products | 23.2 | 56% | 88.1 | 60% | 92.5 | 68% |
| Professional Services | 7.3 | 18% | 19.3 | 14% | 13.3 | 10% |
| Support & Maintenance |
10.5 | 26% | 38.2 | 26% | 30.1 | 22% |
| 41.0 | 100% | 145.6 | 100% | 135.9 | 100% | |
| Revenues per customer type | ||||||
| CSP | 34.5 | 84% | 116.9 | 80% | 114.8 | 84% |
| Enterprise | 6.5 | 16% | 28.7 | 20% | 21.1 | 16% |
| 41.0 | 100% | 145.6 | 100% | 135.9 | 100% | |
| Security revenues | 40.1 | 22.8 | ||||
| SECaaS (Security as a Service) revenues | 4.1 | 1.9 | ||||
| Incremental MAR* | 193.0 | 192.0 | ||||
| Backlog (end of period) | 88.6 | 109.7 | ||||
| % of top-10 end-customers out of revenues |
69% | 51% | 71% | |||
| Total number of full time employees | 741 | 741 | 676 | |||
| (end of period) | ||||||
| Non-GAAP Weighted average number of basic shares (in millions) |
36.4 | 36.1 | 35 | |||
| Non-GAAP weighted average number of fully diluted | ||||||
| shares (in millions) | 38.6 | 38.4 | 37.2 | |||
| *MAR (maximum annual revenue potential of concluded transactions) was estimated by Allot upon transaction signature and constitutes an approximation of the theoretical annual revenues Allot would receive if 100% |
of the customer's subscribers, as estimated by Allot, |
signed up for the service (the MAR of previous years (\$ millions): 2018- 3, 2019- 85)
SECaaS (Security as a Service) revenues- U.S. dollars in millions (Unaudited)
Q4-2021: 1.3 Q3-2021: 1.2 Q2-2021: 0.9 Q1-2021: 0.8
SECaaS ARR* (annualized recurring revenues)- U.S. dollars in millions (Unaudited)
Dec. 2021: 5.2 Dec. 2020: 2.7 Dec. 2019: 0.5
*ARR: annualized recurring SECaaS revenues, calculated based on the monthly revenues multiplied by 12
| ARR - U.S. dollars in millions (Unaudited) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec. 2022 Dec. 2020 Dec. 2021 estimation 2021 vs. 2020 2022 (est.) vs. 2021 |
|||||||||||
| Support & maintenance ARR * |
31.2 | 42.0 | 41-43 | 35% | (2%) -2% | ||||||
| SECaaS ARR ** | 2.7 | 5.2 | 20-30 | 93% | 285%-477% | ||||||
| Total ARR | 33.9 | 47.2 | 61-73 | 39% | 29%-55% |
* Support & Maintenance ARR measures the current annual run rate of the support & maintenance revenues, which is calculated based on these expected revenues in the fourth quarter and multiplied by 4.
** SECaaS ARR measures the current annual run rate of the SECaaS revenues, which is calculated based on these expected revenues in the current month of December and multiplied by 12.