HOD HASHARON, Israel,
Feb. 4, 2020 /PRNewswire/ -- 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 2019 financial results.
Financial Highlights
- Fourth quarter revenues were $30.6
million, up 14% year-over-year;
- Full year revenues were $110.1
million, up 15% year-over-year;
- Backlog increased by $69 million
to $138 million at year-end 2019
compared with $69 million at year-end
2018;
- Year-end cash and investments totaled $117.6 million compared to $103.9 million at year-end 2018;
- Allot signed in 2019 recurring security revenue agreements with
a total MAR* of $85 million.
Financial Outlook
- Management expects 2020 revenues to grow to between
$135-140 million, representing
accelerated double digit growth;
- Management expects to close additional recurring security
revenue deals in 2020. The MAR* of new deals to be signed in
2020 is expected to exceed $140
million;
Management Comment
Erez Antebi, President &
CEO of Allot, commented: "We are very pleased with our
performance in 2019. Our Visibility & Control business
continued to perform well due to ongoing solid execution. We are
also happy with our performance in the security space and we had a
successful year bringing on several new operators to our
security offerings, some of them in a revenue share
arrangement. We believe that the recurring revenue and growth we
gain from these deals will have a significantly positive long-term
impact on our future. We expect to win further such deals in the
coming year."
Continued Mr. Antebi, "Looking out to 2020, we expect
accelerated top-line growth. While we continue to invest in our
offerings and in sales and marketing, our expenses should grow at a
slower rate than our revenue and subsequently we expect to reach
profitability in the last quarter of 2020 . We look forward to
continued growth as we successfully execute on our strategy."
Q4 2019 Financial Results Summary
Total revenues for the fourth quarter of 2019 were
$30.6 million, an increase of 14%
compared to $26.9 million in the
fourth quarter of 2018.
Gross profit on a GAAP basis for the fourth quarter of
2019 was $20.8 million (gross margin
of 68.0%), a 12% improvement compared with $18.6 million (gross margin of 69.1%) in the
fourth quarter of 2018.
Gross profit on a non-GAAP basis for the fourth quarter
of 2019 was $21.0 million (gross
margin of 68.7%), a 11% improvement compared with $18.9 million (gross margin of 70.3%) in the
fourth quarter of 2018.
Net loss on a GAAP basis for the fourth quarter of 2019
was $1.7 million, or $0.05 per basic share, compared with a net loss
of $1.8 million, or $0.05 per basic share, in the fourth quarter of
2018.
Non-GAAP net loss for the fourth quarter of 2019 was
$1.7 million, or $0.05 per basic share, compared with a non-GAAP
net loss of $0.5 million, or
$0.01 per basic share, in the fourth
quarter of 2018.
2019 Financial Results Summary
Total revenues for 2019 were $110.1 million, an increase of 15% compared to
$95.8 million in 2018.
Gross profit on a GAAP basis for 2019 was
$76.3 million (gross margin of 69.3%), a 15%
improvement compared with $66.5
million (gross margin of 69.4%) in 2018.
Gross profit on a non-GAAP basis for 2019 was
$77.3 million (gross margin of
70.2%), a 14% improvement compared with $67.8 million (gross margin of 70.7%) in
2018.
Net loss on a GAAP basis for 2019 was $8.7 million, or $0.25 per basic share, an improvement compared
with a net loss of $10.4 million, or
$0.31 per basic share, in 2018.
Non-GAAP net loss for 2019 was $7.5 million, or $0.22 per basic share, a decrease compared with a
non-GAAP net loss of $5.1 million, or
$0.15 per basic share, in 2018.
Cash and investments as of December 31, 2019 totaled $117.6 million, compared to $114.8 million as of September 30, 2019 and $103.9 million as of December 31, 2018.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss
fourth quarter and full year 2019 earnings results today,
February 4, 2020 at 8:30 am ET, 3:30 pm
Israel time. To access the
conference call, please dial one of the following numbers:
US: 1-888-668-9141, UK: 0-800-917-5108, 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 provider of leading
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 1000 enterprises. Our industry leading network-based security
as a service solution has achieved over 50% penetration with some
service providers and is already used by over
23 million subscribers in Europe. Allot. See. Control. Secure.
For more information, visit www.allot.com
*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:
Non-GAAP net income is defined as GAAP net income after
excluding stock-based compensation expenses, amortization of
acquisition-related intangible assets, restructuring expenses,
changes in taxes and headcount related items, deferred tax asset
adjustment, exchange rate differences related to revaluation of
assets and liabilities denominated in non-dollar currencies and
other acquisition-related 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 forward-looking statements, whether as a result of
new information, future events or otherwise.
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,
|
|
2019
|
|
2018
|
|
|
2019
|
|
2018
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
|
Revenues
|
$
30,567
|
|
$
26,885
|
|
|
$
110,100
|
|
$
95,837
|
Cost of
revenues
|
9,784
|
|
8,296
|
|
|
33,834
|
|
29,349
|
Gross
profit
|
20,783
|
|
18,589
|
|
|
76,266
|
|
66,488
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Research and
development costs, net
|
8,563
|
|
6,632
|
|
|
31,461
|
|
25,418
|
Sales and
marketing
|
12,186
|
|
10,754
|
|
|
47,105
|
|
40,849
|
General and
administrative
|
1,954
|
|
2,616
|
|
|
6,678
|
|
10,416
|
Total operating
expenses
|
22,703
|
|
20,002
|
|
|
85,244
|
|
76,683
|
Operating
loss
|
(1,920)
|
|
(1,413)
|
|
|
(8,978)
|
|
(10,195)
|
Financial and other
income, net
|
600
|
|
601
|
|
|
1,960
|
|
2,208
|
Loss before income
tax expenses
|
(1,320)
|
|
(812)
|
|
|
(7,018)
|
|
(7,987)
|
|
|
|
|
|
|
|
|
|
Tax
expenses
|
362
|
|
1,005
|
|
|
1,641
|
|
2,428
|
Net Loss
|
(1,682)
|
|
(1,817)
|
|
|
(8,659)
|
|
(10,415)
|
|
|
|
|
|
|
|
|
|
Basic net
loss per share
|
$
(0.05)
|
|
$
(0.05)
|
|
|
$
(0.25)
|
|
$
(0.31)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net
loss per share
|
$
(0.05)
|
|
$
(0.05)
|
|
|
$
(0.25)
|
|
$
(0.31)
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
|
computing basic net
loss per share
|
34,450,317
|
|
33,860,114
|
|
|
34,250,582
|
|
33,710,507
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
|
computing diluted net
loss per share
|
34,450,317
|
|
33,860,114
|
|
|
34,250,582
|
|
33,710,507
|
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
|
|
Year
Ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
|
(Unaudited)
|
|
(Unaudited)
|
GAAP cost of
revenues
|
$
9,784
|
|
$
8,296
|
|
$
33,834
|
|
$
29,349
|
Share-based
compensation (1)
|
(76)
|
|
(60)
|
|
(264)
|
|
(316)
|
Amortization of
intangible assets (2)
|
(152)
|
|
(233)
|
|
(853)
|
|
(930)
|
Changes in
taxes and headcount related items (5)
|
-
|
|
(17)
|
|
75
|
|
(17)
|
Non-GAAP cost of
revenues
|
$
9,556
|
|
$
7,986
|
|
$
32,792
|
|
$
28,086
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
$
20,783
|
|
$
18,589
|
|
$
76,266
|
|
$
66,488
|
Gross profit
adjustments
|
228
|
|
310
|
|
1,042
|
|
1,263
|
Non-GAAP gross
profit
|
$
21,011
|
|
$
18,899
|
|
$
77,308
|
|
$
67,751
|
|
|
|
|
|
|
|
|
|
GAAP operating
expenses
|
$
22,703
|
|
$
20,002
|
|
$
85,244
|
|
$
76,683
|
Share-based
compensation (1)
|
(942)
|
|
(634)
|
|
(3,156)
|
|
(2,546)
|
Amortization of
intangible assets (2)
|
(189)
|
|
(175)
|
|
(754)
|
|
(700)
|
Income
(Expenses) related to M&A activities (3)
|
1,246
|
|
(93)
|
|
3,980
|
|
(394)
|
Restructuring
expenses (4)
|
-
|
|
(62)
|
|
-
|
|
(62)
|
Changes in
taxes and headcount related items (5)
|
-
|
|
(40)
|
|
(31)
|
|
(420)
|
Non-GAAP
operating expenses
|
$
22,818
|
|
$
18,998
|
|
$
85,283
|
|
$
72,561
|
|
|
|
|
|
|
|
|
|
GAAP financial
and other income
|
$
600
|
|
$
601
|
|
$
1,960
|
|
$
2,208
|
Expenses
related to M&A activities (3)
|
-
|
|
(75)
|
|
-
|
|
(224)
|
Exchange rate
differences*
|
(119)
|
|
-
|
|
83
|
|
-
|
Non-GAAP
Financial and other income
|
$
481
|
|
$
526
|
|
$
2,043
|
|
$
1,984
|
|
|
|
|
|
|
|
|
|
GAAP taxes on
income
|
$
362
|
|
$
1,005
|
|
$
1,641
|
|
$
2,428
|
Tax expenses in
respect of net deferred tax asset recorded
|
(25)
|
|
(123)
|
|
(74)
|
|
(116)
|
Non-GAAP taxes
on income
|
$
337
|
|
$
882
|
|
$
1,567
|
|
$
2,312
|
|
|
|
|
|
|
|
|
|
GAAP Net
Loss
|
$
(1,682)
|
|
$
(1,817)
|
|
$
(8,659)
|
|
$
(10,415)
|
Share-based
compensation (1)
|
1,018
|
|
694
|
|
3,420
|
|
2,862
|
Amortization of
intangible assets (2)
|
341
|
|
408
|
|
1,607
|
|
1,630
|
Expenses
(Income) related to M&A activities (3)
|
(1,246)
|
|
18
|
|
(3,980)
|
|
170
|
Restructuring
expenses (4)
|
-
|
|
62
|
|
-
|
|
62
|
Changes in
taxes and headcount related items (5)
|
-
|
|
57
|
|
(44)
|
|
437
|
Exchange rate
differences
|
(119)
|
|
-
|
|
83
|
|
-
|
Tax expenses in
respect of net deferred tax asset recorded
|
25
|
|
123
|
|
74
|
|
116
|
Non-GAAP Net
Loss
|
$
(1,663)
|
|
$
(455)
|
|
$
(7,499)
|
|
$
(5,138)
|
|
|
|
|
|
|
|
|
|
GAAP Loss per
share (diluted)
|
$
(0.05)
|
|
$
(0.05)
|
|
$
(0.25)
|
|
$
(0.31)
|
Share-based
compensation
|
0.03
|
|
0.02
|
|
0.10
|
|
0.08
|
Amortization of
intangible assets
|
0.01
|
|
0.01
|
|
0.05
|
|
0.05
|
Expenses
(Income) related to M&A activities
|
(0.04)
|
|
-
|
|
(0.12)
|
|
0.01
|
Restructuring
expenses
|
-
|
|
0.00
|
|
-
|
|
-
|
Changes in
taxes and headcount related items
|
-
|
|
-
|
|
(0.00)
|
|
0.01
|
Exchange rate
differences
|
(0.00)
|
|
-
|
|
0.00
|
|
-
|
Tax expense in
respect of net deferred tax asset recorded
|
0.00
|
|
0.01
|
|
0.00
|
|
0.01
|
Non-GAAP Net
loss per share (diluted)
|
$
(0.05)
|
|
$
(0.01)
|
|
$
(0.22)
|
|
$
(0.15)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
computing GAAP
diluted net loss per share
|
34,450,317
|
|
33,860,114
|
|
34,250,582
|
|
33,710,507
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
computing non-GAAP
diluted net loss per share
|
34,450,317
|
|
33,860,114
|
|
34,250,582
|
|
33,710,507
|
|
|
|
|
|
|
|
|
|
* Financial income or
expenses related to exchange rate differences in connection with
revaluation of assets and liabilities in non-dollar denominated
currencies.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TABLE - 2
cont.
|
ALLOT
COMMUNICATIONS 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
|
|
Year
Ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
(1) Share-based
compensation:
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
76
|
|
$
60
|
|
$
264
|
|
$
316
|
|
Research and
development costs, net
|
230
|
|
174
|
|
847
|
|
678
|
|
Sales and
marketing
|
350
|
|
227
|
|
1,257
|
|
928
|
|
General and
administrative
|
362
|
|
233
|
|
1,052
|
|
940
|
|
|
$
1,018
|
|
$
694
|
|
$
3,420
|
|
$
2,862
|
|
|
|
|
|
|
|
|
|
(2)
Amortization of intangible assets
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
152
|
|
$
233
|
|
$
853
|
|
$
930
|
|
Sales and
marketing
|
189
|
|
175
|
|
754
|
|
700
|
|
|
$
341
|
|
$
408
|
|
$
1,607
|
|
$
1,630
|
|
|
|
|
|
|
|
|
|
(3) Expenses
(Income) related to M&A activities
|
|
|
|
|
|
|
|
|
General and
administrative
|
$
(1,374)
|
|
$
-
|
|
$
(4,882)
|
|
$
69
|
|
Research and
development costs, net
|
128
|
|
93
|
|
902
|
|
325
|
|
Financial
income
|
-
|
|
(75)
|
|
-
|
|
(224)
|
|
|
$
(1,246)
|
|
$
18
|
|
$
(3,980)
|
|
$
170
|
|
|
|
|
|
|
|
|
|
(4)
Restructuring expenses
|
|
|
|
|
|
|
|
|
General and
administrative
|
$
-
|
|
$
62
|
|
$
-
|
|
$
62
|
|
|
$
-
|
|
$
62
|
|
$
-
|
|
$
62
|
|
|
|
|
|
|
|
|
|
(5) Changes in
taxes and headcount related items
|
|
|
|
|
|
|
|
|
Sales and
marketing
|
$
-
|
|
$
40
|
|
$
16
|
|
$
262
|
|
Cost of
revenues
|
-
|
|
17
|
|
(75)
|
|
17
|
|
General and
administrative
|
-
|
|
-
|
|
15
|
|
158
|
|
|
$
-
|
|
$
57
|
|
$
(44)
|
|
$
437
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(*) Excluding
share-based compensation related to the restructuring plan, which
was already included under restructuring expenses.
|
|
|
TABLE -
3
|
ALLOT
LTD.
|
AND ITS
SUBSIDIARIES
|
CONSOLIDATED
BALANCE SHEETS
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31,
|
|
December
31,
|
|
|
2019
|
|
2018
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
ASSETS
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
$
16,930
|
|
$
16,336
|
Short term
deposits
|
|
5,557
|
|
22,543
|
Restricted
deposit
|
|
23,183
|
|
465
|
Marketable
securities
|
|
61,012
|
|
64,290
|
Trade receivables,
net
|
|
29,008
|
|
26,093
|
Other receivables and
prepaid expenses
|
|
6,935
|
|
3,647
|
Inventories
|
|
10,668
|
|
11,345
|
Total current
assets
|
|
153,293
|
|
144,719
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
Restricted
deposit
|
|
10,913
|
|
257
|
Severance pay
fund
|
|
387
|
|
345
|
Operating lease
right-of-use assets
|
|
6,368
|
|
-
|
Deferred
taxes
|
|
517
|
|
281
|
Other
assets
|
|
519
|
|
600
|
Total long-term
assets
|
|
18,704
|
|
1,483
|
|
|
|
|
|
PROPERTY AND
EQUIPMENT, NET
|
|
8,135
|
|
6,249
|
GOODWILL AND
INTANGIBLE ASSETS, NET
|
|
35,037
|
|
37,393
|
|
|
|
|
|
Total
assets
|
|
$
215,169
|
|
$
189,844
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
Trade
payables
|
|
$
11,676
|
|
$
7,813
|
Deferred
revenues
|
|
36,360
|
|
13,855
|
Short-term operating
lease liabilities
|
|
3,151
|
|
-
|
Other payables and
accrued expenses
|
|
22,255
|
|
21,052
|
Total current
liabilities
|
|
73,442
|
|
42,720
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
Deferred
revenues
|
|
5,262
|
|
-
|
Long-term operating
lease liabilities
|
|
3,820
|
|
4,247
|
Accrued severance
pay
|
|
794
|
|
-
|
Other long term
liabilities
|
|
-
|
|
806
|
Total long-term
liabilities
|
|
9,876
|
|
6,168
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
131,851
|
|
135,903
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
$
215,169
|
|
$
189,844
|
|
|
|
|
|
TABLE -
4
|
ALLOT
LTD.
|
AND ITS
SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
December
31,
|
|
December
31,
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
$
(1,682)
|
|
$
(1,817)
|
|
$
(8,659)
|
|
$
(10,415)
|
Adjustments to
reconcile net income to net cash used in operating
activities:
|
|
|
|
|
|
|
|
Depreciation
|
722
|
|
601
|
|
2,637
|
|
2,204
|
Stock-based
compensation related to options granted to employees
|
1,018
|
|
694
|
|
3,420
|
|
2,862
|
Amortization of
intangible assets
|
341
|
|
408
|
|
1,607
|
|
1,630
|
Capital
loss
|
-
|
|
-
|
|
-
|
|
39
|
Decrease (Increase)
in accrued severance pay, net
|
(21)
|
|
(18)
|
|
(54)
|
|
16
|
Decrease in other
assets
|
247
|
|
83
|
|
81
|
|
535
|
Decrease in accrued
interest and amortization of premium on marketable
securities
|
7
|
|
193
|
|
343
|
|
804
|
Changes in operating
leases, net
|
456
|
|
-
|
|
603
|
|
-
|
Decrease (Increase)
in trade receivables
|
(8,034)
|
|
359
|
|
(2,915)
|
|
(3,356)
|
Decrease (Increase)
in other receivables and prepaid expenses
|
(2,886)
|
|
184
|
|
(3,575)
|
|
(1,101)
|
Decrease (Increase)
in inventories
|
(1,387)
|
|
607
|
|
(138)
|
|
(3,448)
|
Increase (Decrease)
in long-term deferred taxes, net
|
33
|
|
27
|
|
(236)
|
|
20
|
Increase (Decrease)
in trade payables
|
4,389
|
|
(4,370)
|
|
3,863
|
|
1,945
|
Increase (Decrease)
in employees and payroll accruals
|
4,048
|
|
(998)
|
|
4,635
|
|
(1,178)
|
Increase in deferred
revenues
|
5,760
|
|
1,421
|
|
23,520
|
|
3,566
|
Increase (Decrease)
in other payables, accrued expenses and other long term
liabilities
|
464
|
|
3,383
|
|
(9,040)
|
|
6,906
|
|
|
|
|
|
|
|
|
Net cash provided by
operating activities
|
3,475
|
|
757
|
|
16,092
|
|
1,029
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
Increase in
restricted deposit
|
(23,331)
|
|
(32)
|
|
(33,374)
|
|
(294)
|
Redemption of
short-term deposits
|
3,000
|
|
1,900
|
|
16,986
|
|
8,500
|
Purchase of property
and equipment
|
(918)
|
|
(1,427)
|
|
(3,708)
|
|
(3,485)
|
Investment in
marketable securities
|
(8,154)
|
|
(9,584)
|
|
(39,950)
|
|
(34,777)
|
Proceeds from
redemption or sale of marketable securities
|
11,173
|
|
8,924
|
|
43,555
|
|
32,651
|
Acquisitions
|
-
|
|
-
|
|
-
|
|
(3,048)
|
Net cash used in
investing activities
|
(18,230)
|
|
(219)
|
|
(16,491)
|
|
(453)
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercise of employee
stock options
|
220
|
|
74
|
|
993
|
|
418
|
Net cash provided by
financing activities
|
220
|
|
74
|
|
993
|
|
418
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (Decrease)
in cash and cash equivalents
|
(14,535)
|
|
612
|
|
594
|
|
994
|
Cash, cash
equivalents and restricted cash at the beginning of the
period
|
31,465
|
|
15,724
|
|
16,336
|
|
15,342
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
$
16,930
|
|
$
16,336
|
|
$
16,930
|
|
$
16,336
|
Investor Relations Contact:
GK Investor Relations
Ehud Helft/Gavriel Frohwein
+1-646-688-3559
allot@gkir.com
Public Relations Contact:
Seth Greenberg, Allot Ltd.
+972-54-922-2294
sgreenberg@allot.com
View original
content:http://www.prnewswire.com/news-releases/allot-announces-fourth-quarter-and-full-year-2019-financial-results-300998305.html
SOURCE Allot Ltd.