Allot Shares Fall on Narrowing FY21 Revenue Outlook

By Benzinga
Benzinga
Benzinga
November 9, 2021 Updated: November 9, 2021

Allot Ltd. reported third-quarter FY21 revenue growth of 10 percent year-on-year to $38.2 million, beating the estimate of $37 million.

Margin

The non-GAAP gross margin expanded 140 bps to 70.4 percent.

Non-GAAP EPS loss of $0.00 beats the analyst estimate loss of $0.05.

Allot held $99.2 million in cash and equivalents and used $5.5 million in operating cash flow.

“Our DPI business is showing solid results as we continue to sign up new customers and grow our market share,” CEO Erez Antebi said.

Outlook

Allot sees FY21 revenue of $145 million – $146 million (prior view $145 million – $150 million).

Allot sees SECaaS revenues of $4.1 million – 4.3 million for 2021 and $10 million – $15 million in 2022.

Allot sees SECaaS revenues of $20 million – $30 million for the 12 months of July 2022 and June 2023.

Allot sees an ARR of $5 million – $6 million in December 2021 and $20 million – $30 million in December 2022.

Price Action

ALLT shares traded lower by 8.11 percent at $14.50 in the premarket session on the last check Tuesday.

By Anusuya Lahiri 

© 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.

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