Alarum Technologies Ltd.
(Nasdaq, TASE: ALAR)
(“Alarum” or the “Company”), a global provider of internet
access and web data collection solutions, today announced
financial results for the second quarter ended June 30, 2024.
“Today we announced the results of yet another
strong record-breaking quarter, marking the first year since we
announced our shift to focusing on Enterprise Internet Access
through our NetNut data collection product line,” said Mr. Shachar
Daniel, Chief Executive Officer of Alarum. “As we intend to
establish the broadest data collection and insights offering in the
market, we continued to increase our market share in the IP Proxy
Network (IPPN) segment, won initial sales in the data collection
and labelling market with our new Web-Unblocker and continued to
make progress towards providing our customers with artificial
intelligence (AI) and analysis capabilities. Our cash balance
positions us well to invest in prospects that will provide the
foundation for sustained growth.”
Mr. Daniel concluded: “Looking into the third
quarter of 2024, I am extremely proud that NetNut revenues are
expected to surpass the full year 2023 revenue-bar within the first
three quarters of 2024. The market we operate in is an ever
evolving and nascent market and as we continue to expand our
customer base, enhance our offerings and grow the business we may
experience some short-term variances. In the third quarter of 2024,
we estimate continued year-over-year growth. While third quarter
revenues are assumed to be impacted by market dynamics that some of
our customers have been experiencing since June, our main growth
KPIs are positive: consistent growth in the monthly revenue rates
from June to July and into August. We evaluate the value created by
new customers over their lifecycle. Our new customer-indicator
shows enhanced growth in the second quarter compared to the first
quarter, and to the last four quarters’ average. Furthermore, we
will maintain strong net customer retention rates in the third
quarter, in line with our growth strategy and strong balance sheet.
These are all clear indicators of the strength and resilience of
our business, as Alarum is in it for the long run.”
Recent Business Highlights
As the Company focuses on expanding its presence
in the Data Collection Market, it:
- |
Added major and highly regarded brand names to the NetNut customer
base, including a Fortune 100 customer in Q3 2024 |
|
|
- |
Onboarded in Q2 2024 dozens of new customers who generated
approximately $400,000 in the first month of activity, 60% higher
than the revenue generated from those that onboarded in Q1 2024 and
about 35% higher than the last four quarters’ average |
|
|
- |
To date, NetNut customers have been generating revenues at an
average rate of about 15-18 times higher than their initial month’s
activity over a period of approximately three years |
|
|
- |
Net Retention Rate (“NRR”)1 reached 1.59 as of June 30, 2024 |
|
|
- |
Continued to expand and further the Company’s network ; its
infrastructure is now capable of handling significantly higher
traffic, supporting larger and a growing number of customers that
can drive scalable and profitable growth |
|
|
- |
Continued to invest in and make substantial progress into the Data
Collection and Labelling Market with the new Web-Unblocker and the
AI Data Collection products |
|
|
- |
Generated initial revenues from new customers who placed orders for
the Web-Unblocker in Q2 2024 |
|
|
- |
Continued to advance towards adding AI and analysis capabilities to
the Company’s Data Products |
|
|
1 |
NRR represents the average growth rate for the preceding four
quarters compared to the equivalent period in the prior year, of
current customers only, while excluding revenues generated from new
customers but including up-sales and cross-sales as well as
churn. |
|
|
Summary of Financial
Results2 |
(in millions of U.S. dollars, rounded, except per share
amounts and margins) |
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended
June 30, |
|
|
For the Three Months Ended
June 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Revenue |
|
|
17.3 |
|
|
|
12.7 |
|
|
|
8.9 |
|
|
|
7.0 |
|
of which, NetNut Revenue was |
|
|
16.7 |
|
|
|
8.4 |
|
|
|
8.7 |
|
|
|
5.0 |
|
Gross profit |
|
|
13.4 |
|
|
|
8.3 |
|
|
|
6.8 |
|
|
|
4.5 |
|
Gross margin (in
percentage) |
|
|
77.7 |
% |
|
|
65.3 |
% |
|
|
76.9 |
% |
|
|
64.7 |
% |
Non-IFRS gross margin
(in percentage) |
|
|
79.9 |
% |
|
|
69.9 |
% |
|
|
78.5 |
% |
|
|
71.0 |
% |
Total operating expenses |
|
|
8.1 |
|
|
|
17.0 |
|
|
|
4.2 |
|
|
|
12.8 |
|
Finance income (expense),
net |
|
|
(3.3 |
) |
|
|
0.1 |
|
|
|
(2.5 |
) |
|
|
0.3 |
|
Tax benefit (expense) |
|
|
(0.8 |
) |
|
|
0.2 |
|
|
|
(0.5 |
) |
|
|
0.2 |
|
Net profit (loss) for the
period |
|
|
1.1 |
|
|
|
(8.4 |
) |
|
|
(0.4 |
) |
|
|
(7.7 |
) |
Adjusted
EBITDA |
|
|
6.6 |
|
|
|
1.2 |
|
|
|
3.4 |
|
|
|
1.1 |
|
Basic earnings (loss) per ADS
(in U.S. Dollars) |
|
$ |
0.16 |
|
|
$ |
(2.51 |
) |
|
$ |
(0.05 |
) |
|
$ |
(2.26 |
) |
Non-IFRS basic earnings per
ADS (in U.S. Dollars) |
|
$ |
0.86 |
|
|
$ |
0.42 |
|
|
$ |
0.41 |
|
|
$ |
0.45 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash, cash equivalents3 |
|
|
21.6 |
|
|
|
3.8 |
|
|
|
21.6 |
|
|
|
3.8 |
|
Shareholders’ equity4 |
|
|
20.4 |
|
|
|
6.1 |
|
|
|
20.4 |
|
|
|
6.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Second Quarter and First Half 2024
Financial Analysis
● |
Revenues grew 27% year-over-year to a Company record $8.9 million
in Q2 2024 (Q2 2023: $7.0 million). The increase is attributed to
the growth of the enterprise internet access business, NetNut,
which increased to $8.7 million in Q2 2024, up from $5.0 million in
Q2 2023. H1 2024 revenues increased to a record $17.3 million (H1
2023: $12.7 million). NetNut’s revenues reached a record $16.7
million in H1 2024, achieving 99% year-over-year growth (H1 2023:
$8.4 million). |
|
|
● |
Operating expenses totaled $4.2 million (Q2 2023: $12.8 million),
and H1 2024 operating expenses totaled $8.1 million (H1 2023: $17.0
million). The quarterly and six-month year-over-year decrease
resulted mainly from impairment of goodwill and intangible assets
following the Company’s shift to enterprise internet access
(NetNut) from consumer internet access (CyberKick). In addition,
CyberKick’s operation expenses were reduced, while NetNut’s
operation expenses increased in line with its growth. |
|
|
● |
Finance expenses in Q2 2024 were $2.5 million (Q2 2023: finance
income of $0.3 million), and approximately $3.4 million in H1 2024
(H1 2023: financial income of $0.1 million). The year-over-year
differences were mainly from expenses resulting from the fair value
increase of derivative financial instruments (warrants issued in
2019 to 2020) due to the increase in the Company’s share price. The
increase was partially offset by interest income on short-term bank
deposits. |
|
|
2 |
The table below contains certain non-IFRS financial measures. See
“Use of non-IFRS Financial Results” for additional information
regarding these measures and reconciliations to the most comparable
IFRS measures. |
3 |
As of the last day of the period. |
4 |
As of the last day of the quarter. |
|
|
● |
Income tax expenses totaled $0.8 million in H1 2024 (H1 2023: tax
benefit of $0.2 million), following the first-time NetNut was
profitable for tax purposes. |
|
|
● |
H1 2024 cash flow from operating activities reached $6.3 million
(H1 2023: $(0.1) million). |
|
|
● |
As of June 30, 2024, shareholders’ equity totaled $20.4 million,
compared to $6.1 million as of June 30, 2023, and $13.2 million as
of December 31, 2023. The increase was driven by the H1 2024 net
profit as well as warrants and options exercises. |
|
|
● |
Outstanding ordinary share count as of June 30, 2024, was
approximately 68.4 million, or 6.8 million in ADSs. |
|
|
Financial Outlook
“Alarum ended Q2 2024 with growing revenues,
enhanced profitability, strong cash generation and a solid balance
sheet, which provides the flexibility and resources to invest in
the areas that will drive future growth,” said Mr. Shai Avnit,
Chief Financial Officer of Alarum. “Today, for the first time, we
are providing quarterly guidance, as we aim to enhance
transparency. We anticipate Q3 2024 revenue to demonstrate
year-over-year growth, and in fact, NetNut revenues are expected to
cross the full-year 2023 revenue-bar of $21.2 million within the
first nine months of 2024. Q3 2024 revenues are estimated at $7
million ±3% and Adjusted EBITDA for Q3 2024 is expected to range
from $0.8 to $1.0 million.”
Second Quarter 2024 Financial Results
Conference Call
Mr. Shachar Daniel, Chief Executive Officer of
Alarum, and Mr. Shai Avnit, Chief Financial Officer of Alarum, will
host a conference call today, August 26, 2024, at 8:30 a.m. ET,
5:30 a.m. Pacific time to discuss the second quarter 2024 results
and the third quarter 2024 outlook, followed by a Q&A session.
To attend, please dial one of the following numbers, at least five
minutes before the call starts: 1-877-407-0789 or 1-201-689-8562.
If you are unable to connect using the toll-free number, please try
the international dial-in number. An Israeli toll-free number is: 1
809 406 247.
Participants will be required to state their
name and company upon dialing in. If you have any difficulty
connecting, please contact Michal Efraty on behalf of Alarum at
+972-(0)-52-3044404. Replay: The conference call will be broadcast
live and available for replay here, after 11:30 a.m. ET on August
26, 2024, through September 24, 2024. Toll-free replay numbers:
1-844-512-2921 or 1-412-317-6671, ID: 13748415.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” words such as
“expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,”
“estimates” and similar expressions or variations of such words are
intended to identify forward-looking statements. For example,
Alarum is using forward-looking statements in this press release
when it discusses its guidance regarding revenue and Adjusted
EBITDA, potential due to its cash position and resources, growth,
profitability, AI and analysis capabilities, customer retention,
prospect, flexibility, market expansion and 2024 NetNut revenues,
as well as the expected benefits and impacts of its existing and
future products and services. Because such statements deal with
future events and are based on Alarum’s current expectations, they
are subject to various risks and uncertainties and actual results,
performance or achievements of Alarum could differ materially from
those described in or implied by the statements in this press
release. The forward-looking statements contained or implied in
this press release are subject to other risks and uncertainties,
including those discussed under the heading “Risk Factors” in
Alarum’s annual report on Form 20-F filed with the Securities and
Exchange Commission (“SEC”) on March 14, 2024, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Alarum undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Alarum is not responsible for the contents of third-party
websites.
Condensed Consolidated Statements of Financial
Position |
|
(in thousands of U.S. dollars) |
|
|
|
|
|
June 30, |
|
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2023 |
|
|
|
(Unaudited) |
|
|
(Audited) |
|
Assets |
|
|
|
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
21,626 |
|
|
|
3,813 |
|
|
|
10,872 |
|
Short-term restricted
deposits |
|
|
- |
|
|
|
500 |
|
|
|
- |
|
Trade receivables, net |
|
|
2,471 |
|
|
|
2,279 |
|
|
|
1,994 |
|
Other receivables |
|
|
961 |
|
|
|
481 |
|
|
|
399 |
|
|
|
|
25,058 |
|
|
|
7,073 |
|
|
|
13,265 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current
assets: |
|
|
|
|
|
|
|
|
|
|
|
|
Long-term restricted
deposits |
|
|
- |
|
|
|
111 |
|
|
|
- |
|
Long-term deposit |
|
|
102 |
|
|
|
119 |
|
|
|
104 |
|
Other non-current assets |
|
|
94 |
|
|
|
111 |
|
|
|
145 |
|
Property and equipment,
net |
|
|
119 |
|
|
|
92 |
|
|
|
88 |
|
Right-of-use assets |
|
|
638 |
|
|
|
605 |
|
|
|
779 |
|
Deferred tax assets |
|
|
298 |
|
|
|
- |
|
|
|
181 |
|
Goodwill |
|
|
4,118 |
|
|
|
4,118 |
|
|
|
4,118 |
|
Intangible assets, net |
|
|
1,082 |
|
|
|
1,901 |
|
|
|
1,386 |
|
Total non-current
assets |
|
|
6,451 |
|
|
|
7,057 |
|
|
|
6,801 |
|
Total
assets |
|
|
31,509 |
|
|
|
14,130 |
|
|
|
20,066 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and
equity |
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Trade payables |
|
|
570 |
|
|
|
963 |
|
|
|
369 |
|
Other payables |
|
|
3,058 |
|
|
|
2,312 |
|
|
|
2,439 |
|
Current maturities of
long-term loan |
|
|
564 |
|
|
|
497 |
|
|
|
290 |
|
Short-term bank loans |
|
|
- |
|
|
|
1,601 |
|
|
|
- |
|
Contract liabilities |
|
|
2,285 |
|
|
|
1,289 |
|
|
|
1,983 |
|
Derivative financial
instruments |
|
|
3,409 |
|
|
|
2 |
|
|
|
109 |
|
Short-term lease
liabilities |
|
|
362 |
|
|
|
227 |
|
|
|
370 |
|
Total current
liabilities |
|
|
10,248 |
|
|
|
6,891 |
|
|
|
5,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-current
liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Long-term loans |
|
|
398 |
|
|
|
647 |
|
|
|
802 |
|
Long-term lease
liabilities |
|
|
439 |
|
|
|
405 |
|
|
|
523 |
|
Deferred tax liabilities |
|
|
- |
|
|
|
63 |
|
|
|
- |
|
Total non-current
liabilities |
|
|
837 |
|
|
|
1,115 |
|
|
|
1,325 |
|
Total
liabilities |
|
|
11,085 |
|
|
|
8,006 |
|
|
|
6,885 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary shares |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Share premium |
|
|
108,963 |
|
|
|
95,754 |
|
|
|
100,576 |
|
Other equity reserves |
|
|
12,705 |
|
|
|
15,567 |
|
|
|
14,938 |
|
Accumulated deficit |
|
|
(101,244 |
) |
|
|
(105,197 |
) |
|
|
(102,333 |
) |
Total
equity |
|
|
20,424 |
|
|
|
6,124 |
|
|
|
13,181 |
|
Total liabilities and
equity |
|
|
31,509 |
|
|
|
14,130 |
|
|
|
20,066 |
|
|
Condensed Consolidated Statements of Profit or
Loss |
(in thousands of U.S. dollars, except per share
amounts) |
|
|
|
For the Six Months
EndedJune 30, |
|
|
For the Three Months
EndedJune 30, |
|
|
For the Year
EndedDecember 31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
2023 |
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Audited) |
|
Continuing
operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
|
17,260 |
|
|
|
12,664 |
|
|
|
8,884 |
|
|
|
6,985 |
|
|
|
26,521 |
|
Cost of revenue |
|
|
3,854 |
|
|
|
4,390 |
|
|
|
2,051 |
|
|
|
2,463 |
|
|
|
7,711 |
|
Gross
profit |
|
|
13,406 |
|
|
|
8,274 |
|
|
|
6,833 |
|
|
|
4,522 |
|
|
|
18,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
2,143 |
|
|
|
1,948 |
|
|
|
1,121 |
|
|
|
886 |
|
|
|
3,557 |
|
Sales and marketing |
|
|
3,372 |
|
|
|
6,472 |
|
|
|
1,647 |
|
|
|
4,289 |
|
|
|
10,035 |
|
General and
administrative |
|
|
2,626 |
|
|
|
2,286 |
|
|
|
1,386 |
|
|
|
1,291 |
|
|
|
4,406 |
|
Impairment of goodwill |
|
|
- |
|
|
|
6,311 |
|
|
|
- |
|
|
|
6,311 |
|
|
|
6,311 |
|
Total operating
expenses |
|
|
8,141 |
|
|
|
17,017 |
|
|
|
4,154 |
|
|
|
12,777 |
|
|
|
24,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit
(loss) |
|
|
5,265 |
|
|
|
(8,743 |
) |
|
|
2,679 |
|
|
|
(8,255 |
) |
|
|
(5,499 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income (expense),
net |
|
|
(3,345 |
) |
|
|
116 |
|
|
|
(2,497 |
) |
|
|
313 |
|
|
|
(590 |
) |
Profit (loss) from
continuing operations before income tax |
|
|
1,920 |
|
|
|
(8,627 |
) |
|
|
182 |
|
|
|
(7,942 |
) |
|
|
(6,089 |
) |
Tax benefit (expense) |
|
|
(831 |
) |
|
|
238 |
|
|
|
(533 |
) |
|
|
242 |
|
|
|
482 |
|
Profit (loss) from
continuing operations, net of income tax |
|
|
1,089 |
|
|
|
(8,389 |
) |
|
|
(351 |
) |
|
|
(7,700 |
) |
|
|
(5,607 |
) |
Profit from
discontinued operations, net of income tax |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
82 |
|
Net profit (loss) for
the period |
|
|
1,089 |
|
|
|
(8,389 |
) |
|
|
(351 |
) |
|
|
(7,700 |
) |
|
|
(5,525 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted
profit (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations |
|
$ |
0.02 |
|
|
$ |
(0.25 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.23 |
) |
|
$ |
(0.14 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued
operations |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
* |
|
|
|
$ |
0.02 |
|
|
$ |
(0.25 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.23 |
) |
|
$ |
(0.14 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic profit (loss)
per ADS: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing
operations |
|
$ |
0.16 |
|
|
$ |
(2.51 |
) |
|
$ |
(0.05 |
) |
|
$ |
(2.26 |
) |
|
$ |
(1.35 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Discontinued
operations |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
* |
|
|
|
$ |
0.16 |
|
|
$ |
(2.51 |
) |
|
$ |
(0.05 |
) |
|
$ |
(2.26 |
) |
|
$ |
(1.35 |
) |
Use of non-IFRS Financial
Results
In addition to disclosing financial results
calculated in accordance with International Financial Reporting
Standards (IFRS), as issued by the International Accounting
Standards Board, this press release contains non-IFRS financial
measures of EBITDA (EBITDA loss), Adjusted EBITDA (Adjusted EBITDA
loss), non-IFRS net profit (loss), non-IFRS gross profit, non-IFRS
gross margin and non-IFRS basic earnings (loss) per share or ADS
for the periods presented. The Company defines EBITDA (EBITDA loss)
as net profit (loss) from continuing operations before
depreciation, amortization and impairment of intangible assets,
finance income (expense) and income tax; defines Adjusted EBITDA
(Adjusted EBITDA loss) as EBITDA (EBITDA loss) as further adjusted
to remove the impact of (i) impairment of goodwill (if any); and
(ii) share-based compensation; defines non-IFRS net profit (loss)
as net profit (loss) from continuing operations before
depreciation, amortization and impairment of intangible assets,
impairment of goodwill, finance income (expense) effects primarily
related to derivative financial instruments as well as long-term
loan, deferred tax effects and share-based compensation; defines
non-IFRS gross profit as gross profit from continuing operations
adjusted to remove the impact of depreciation, amortization and
impairment of intangible assets and share-based compensation
recorded under cost of revenues; defines non-IFRS gross margin as
the percentage of the non-IFRS gross profit out of revenues; and
defines non-IFRS basic earnings (loss) per share or ADS as non-IFRS
net profit (loss) divided by the weighted average number of
ordinary shares or ADSs. The Company’s management believes the
non-IFRS financial information provided in this press release is
useful to investors’ understanding and assessment of the Company’s
ongoing operations. Management also uses both IFRS and
non-IFRS information in evaluating and operating its business
internally, and as such deemed it important to provide this
information to investors. The non-IFRS financial measures
disclosed by the Company should not be considered in
isolation, or as a substitute for, or superior to, financial
measures calculated in accordance with IFRS, and the financial
results calculated in accordance with IFRS and reconciliations to
those financial statements should be carefully
evaluated. Investors are encouraged to review the
reconciliations of these non-IFRS measures to their most directly
comparable IFRS financial measures provided in the financial
statement tables herein.
Other Metrics
Net retention rate (NRR) represents the average
growth rates for the preceding four quarters compared to the
equivalent period a year earlier, of current customers only,
without the revenues generated from new customers, but including
up-sales and cross-sales on one hand and churn on the other hand.
NRR greater than 1.00 indicates that the Company experiences
revenue growth from its existing customer base in the specific
period even after accounting for lost revenue due to customers’
churn. Conversely, an NRR lower than 1.00 suggests that the Company
loses revenue from existing customers in the specific period due to
churn which is higher than revenue gain through up-sells or
cross-sells.
Non-IFRS Financial
Measures(in millions of U.S. dollars,
rounded)
The following tables present the reconciled effect of the above
on the Company’s Adjusted EBITDA (EBITDA loss); non-IFRS net profit
(loss); and non-IFRS gross profit for the six and three months
ended June 30, 2024 and 2023, and for the year ended December 31,
2023:
|
|
For the Six Months Ended
June 30, |
|
|
For the Three Months Ended
June 30, |
|
|
For theYear EndedDecember
31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit (loss) from continuing operations |
|
|
1.1 |
|
|
|
(8.4 |
) |
|
|
(0.3 |
) |
|
|
(7.7 |
) |
|
|
(5.6 |
) |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortization and
impairment of intangible assets |
|
|
0.3 |
|
|
|
3.0 |
|
|
|
0.1 |
|
|
|
2.7 |
|
|
|
3.5 |
|
Finance expense (income),
net |
|
|
3.4 |
|
|
|
(0.1 |
) |
|
|
2.5 |
|
|
|
(0.3 |
) |
|
|
0.6 |
|
Tax expense (tax benefit) |
|
|
0.8 |
|
|
|
(0.2 |
) |
|
|
0.5 |
|
|
|
(0.2 |
) |
|
|
(0.5 |
) |
EBITDA (EBITDA loss) |
|
|
5.6 |
|
|
|
(5.7 |
) |
|
|
2.8 |
|
|
|
(5.5 |
) |
|
|
(2.0 |
) |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impairment of goodwill |
|
|
- |
|
|
|
6.3 |
|
|
|
- |
|
|
|
6.3 |
|
|
|
6.3 |
|
Share-based compensation |
|
|
1.0 |
|
|
|
0.6 |
|
|
|
0.6 |
|
|
|
0.3 |
|
|
|
0.9 |
|
Adjusted EBITDA for
the period |
|
|
6.6 |
|
|
|
1.2 |
|
|
|
3.4 |
|
|
|
1.1 |
|
|
|
5.2 |
|
|
|
For the Six Months Ended
June 30, |
|
|
For the Three Months Ended
June 30, |
|
|
For theYear EndedDecember
31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
2023 |
|
Net profit (loss) from continuing operations |
|
|
1.1 |
|
|
|
(8.4 |
) |
|
|
(0.3 |
) |
|
|
(7.7 |
) |
|
|
(5.6 |
) |
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortization and
impairment of intangible assets |
|
|
0.3 |
|
|
|
3.0 |
|
|
|
* |
|
|
|
2.7 |
|
|
|
3.5 |
|
Finance expense, net
effects |
|
|
3.3 |
|
|
|
0.1 |
|
|
|
2.5 |
|
|
|
0.1 |
|
|
|
0.1 |
|
Deferred tax effects |
|
|
(0.1 |
) |
|
|
(0.2 |
) |
|
|
* |
|
|
|
(0.2 |
) |
|
|
(0.5 |
) |
Impairment of goodwill |
|
|
- |
|
|
|
6.3 |
|
|
|
- |
|
|
|
6.3 |
|
|
|
6.3 |
|
Share-based compensation |
|
|
1.0 |
|
|
|
0.6 |
|
|
|
0.6 |
|
|
|
0.3 |
|
|
|
0.9 |
|
Non-IFRS net profit
for the period |
|
|
5.6 |
|
|
|
1.4 |
|
|
|
2.8 |
|
|
|
1.5 |
|
|
|
4.7 |
|
|
|
For the Six Months Ended
June 30, |
|
|
For the Three Months Ended
June 30, |
|
|
For theYear EndedDecember
31, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
2023 |
|
Gross profit from continuing operations |
|
|
13.4 |
|
|
|
8.3 |
|
|
|
6.8 |
|
|
|
4.5 |
|
|
|
18.8 |
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation, amortization and
impairment of intangible assets |
|
|
0.3 |
|
|
|
0.6 |
|
|
|
0.1 |
|
|
|
0.4 |
|
|
|
0.9 |
|
Share-based compensation |
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
|
* |
|
|
|
* |
|
Non-IFRS gross profit
for the period |
|
|
13.7 |
|
|
|
8.9 |
|
|
|
6.9 |
|
|
|
4.9 |
|
|
|
19.7 |
|
About Alarum Technologies
Ltd.
Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is
a global provider of internet access and web data collection
solutions. The solutions by NetNut, our enterprise internet access
and web data collection arm, are based on our world’s fastest and
most advanced and secured hybrid proxy network, enabling our
customers to collect data anonymously at any scale from any public
sources over the web. Our network comprises both exit points based
on our proprietary reflection technology and hundreds of servers
located at our ISP partners around the world. The infrastructure is
optimally designed to guarantee privacy, quality, stability, and
the speed of the service.
For more information about Alarum and its
internet access and web data collection solutions, please visit
www.alarum.io.
Follow us on Twitter
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Investor Relations
Contacts:
Michal Efraty+972-(0)52-3044404investors@alarum.io
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