Allot's Mixed Q2 Results Reflect Resilience Amid Market Challenges
Allot's Financial Highlights from Q2
The latest press release from Allot (ALLT) reveals that the company reported a Non-GAAP EPS of -0.02, outperforming market expectations by $0.02. In contrast, the revenue totals $22.2 million, depicting a 12% year-over-year decline, slightly missing estimates by $0.1 million.
Growth in Security as a Service
Despite the challenging financial landscape, Allot reported strong growth in its Security as a Service segment, with revenue increasing by 54% compared to the previous quarter. This growth demonstrates Allot's strategic focus on expanding its security offerings amidst evolving market demands.
Future Outlook
Looking ahead, Allot affirms its fiscal year 2024 outlook, recognizing the potential for recovery and opportunities in the security sector amidst ongoing digital transformation trends.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.