Allot Ltd 6-K, filed Feb 25, 2026
Allot Ltd. (ALLT)
6-K
2026-02-25
For: 2026-02-25
View Original
Added on
April 10, 2026
About this 6-K
Allot Ltd filed this 6-K on February 25, 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2026
Commission File Number: 001-33129
ALLOT LTD.
(Translation of registrant’s name into English)
22 Hanagar Street
Neve Ne'eman Industrial Zone B
Hod-Hasharon 45240
Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes ☐ No ☒
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
EXPLANATORY NOTE
On February 25, 2026, Allot Ltd. issued a press release announcing the Fourth Quarter 2025 Financial Results.
A copy of the press release entitled “Allot Announces Fourth Quarter 2025 Financial Results” is attached to this Form 6-K as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Allot Ltd. | |||
|
By:
|
/s/ Liat Nahum | ||
| Liat Nahum | |||
| Chief Financial Officer | |||
Date: February 25, 2026
EXHIBIT INDEX
The following exhibit has been filed as part of this Form 6-K:
| Exhibit Number | Description |
| 99.1 |
Exhibit 99.1
Allot Announces Fourth Quarter 2025 Financial Results
69% YoY SECaaS ARR growth in 2025, with strong revenue growth and record profitability
Guiding for revenue growth acceleration to $113-$117 million in 2026
Hod Hasharon, Israel – February 25, 2026 - Allot Ltd. (NASDAQ: ALLT, TASE: ALLT), a leading global provider of innovative Security-as-a-Service
(SECaaS) and network intelligence solutions for communications service providers and enterprises, today announced its unaudited financial results for the fourth quarter and full year of 2025.
Financial Highlights for the Fourth Quarter of 2025
| • |
Revenues of $28.4 million, up 14% year over year;
|
| • |
December 2025 SECaaS ARR* of $30.8 million, up 69% year-over-year;
|
| • |
GAAP operating profit of $2.6 million, compared with $0.3 million in Q4 2024;
|
| • |
Non-GAAP operating profit of $3.6 million, a 101% increase compared with $1.8 million in Q4 2024;
|
| • |
Strong positive operating cash flow of $8.1 million, 99% increase year-over-year;
|
| • |
$88 million of total cash**, and no debt;
|
Financial Highlights for 2025
| • |
Revenues of $102.0 million, up 11% year over year;
|
| • |
GAAP operating profit of $3.6 million; compared with a loss of $6.0 million in 2024
|
| • |
Non-GAAP operating profit of $8.9 million, a significant improvement compared with $0.6 million in 2024;
|
| • |
Strong positive operating cash flow of $17.8 million;
|
Management Comment
Eyal Harari, CEO of Allot, commented, “We are very pleased with our turnaround and continued strong improvements throughout 2025. For the year, we drove
double-digit revenue growth, our highest profit in over a decade, and strong operating cash flow. Our growth was primarily driven by continued excellent performance from our cybersecurity solutions.”
Mr. Harari continued, “We are advancing strongly with our cybersecurity-first strategy and developing products that bring together cybersecurity and network
intelligence into a single, integrated solution. As the global AI transformation continues to accelerate, AI-driven threats and new attack surface are increasing the demand for our always-on, zero-effort security embedded in the network. Allot’s
advantages are resonating with customers, clearly differentiating us in the market and driving meaningful growth.”
Concluded Mr. Harari, “Given the continued growth in our cybersecurity business, strong visibility, and a solid backlog, our momentum is set to continue. In
2026, we expect SECaaS to deliver robust double-digit ARR growth and guiding for revenues to grow to between $113 and $117 million, with continued profitability improvements.”
Fourth Quarter 2025 Financial Results Summary
Total revenues for the fourth quarter of 2025 were $28.4 million, a 14% increase year-over-year compared with $24.9 million in the fourth quarter of 2024.
Gross profit on a GAAP basis for the fourth quarter of 2025 was $20.3 million (gross margin of 71.5%), a 19% increase compared with $17.1 million (gross
margin of 68.5%) in the fourth quarter of 2024.
Gross profit on a non-GAAP basis for the fourth quarter of 2025 was $20.4 million (gross margin of 71.9%), an 18% increase compared with $17.4 million (gross
margin of 69.7%) in the fourth quarter of 2024.
Operating income on a GAAP basis for the fourth quarter of 2025 was $2.6 million (operating margin of 9.1%), compared with $0.3 million (operating margin of
1.3%) in the fourth quarter of 2024.
Operating income on a non-GAAP basis for the fourth quarter of 2025 was $3.6 million (operating margin of 12.7%), compared with an operating income of $1.8
million (operating margin of 7.2%) in the fourth quarter of 2024.
Net income on a GAAP basis for the fourth quarter of 2025 was $2.9 million, or $0.06 per diluted share, compared with $0.2 million, or $0.01 per diluted
share, in the fourth quarter of 2024.
Net income on a non-GAAP basis for the fourth quarter of 2025 was $4.1 million, or income of $0.08 per diluted share, compared to the non-GAAP net income of
$2.0 million, or income of $0.05 per diluted share, in the fourth quarter of 2024.
Operating cash flow generated in the quarter was $8.1 million.
Full Year 2025 Financial Results Summary
Total revenues for 2025 were $102.0 million, an 11% increase compared to $92.2 million in 2024.
Gross profit on a GAAP basis for 2025 was $72.6 million (gross margin of 71.1%), a 14% increase compared with $63.7
million (gross margin of 69.1%) in 2024.
Gross profit on a non-GAAP basis for 2025 was $73.4 million (gross margin of 72.0%), a 13% year-over-year growth
compared with $65.1 million (gross margin of 70.6%) in 2024.
Operating income on a GAAP basis for 2025 was $3.6 million (operating margin of 3.5%), compared with a loss of $6.0 million in 2024.
Operating income on a non-GAAP basis for 2025 was $8.9 million (operating margin of 8.8%), compared with an operating income of $0.6 million (operating
margin of 0.7%) in 2024.
Net income on a GAAP basis for 2025 was $3.7 million, or $0.08 per diluted share, compared with a net loss of $5.9 million, or $0.15 per basic share, in
2024.
Net income on a non-GAAP basis for 2025 was $10.9 million, or $0.23 income per diluted share, compared with $1.6 million, or $0.04 per diluted share in 2024.
Operating cash flow generated in 2025 was $17.8 million.
Cash and cash equivalents, bank deposits, restricted deposits and investments as of December 31, 2025, totaled $88 million, an increase of $29 million versus $59 million cash
and cash equivalents, bank deposits, restricted deposits and investment as of December 31, 2024. As of December 31, 2025, the company has no debt.
# # #
Conference Call & Webcast:
The Allot management team will host a conference call to discuss its fourth quarter and full year 2025 earnings results today, February 25, 2026 at 9:00 am ET, 4:00 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: +972-3-918-0644
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 converged cybersecurity solutions and network intelligence offerings for service providers and enterprises worldwide. Allot
enhances value to its customers’ customers through its solutions, which are deployed globally for network-native cybersecurity services, network and application analytics, traffic control and shaping, 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-native security-as-a-service solution is already used by many millions of subscribers globally.
For more information, visit www.allot.com
Performance Metrics
* SECaaS ARR – measures the current annual recurring SECaaS revenues, which is calculated based on estimated revenues for the month of December 2025 and multiplied by 12.
** Total cash - cash and cash equivalents, bank deposits, restricted deposits and investments.
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 and changes in taxes-related items.
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 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 accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial
guidance and outlook; 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; 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.
|
Investor Relations Contact:
EK Global Investor Relations
Ehud Helft
+1 212 378 8040
allot@ekgir.com
|
Public Relations Contact:
Seth Greenberg, Allot Ltd.
+972 54 922 2294
sgreenberg@allot.com
|
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,
|
|||||||||||||||
|
2025
|
2024
|
2025
|
2024
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
||||||||||||||
|
Revenues
|
$
|
28,387
|
$
|
24,906
|
$
|
101,993
|
$
|
92,195
|
||||||||
|
Cost of revenues
|
8,079
|
7,853
|
29,441
|
$
|
28,505
|
|||||||||||
|
Gross profit
|
20,308
|
17,053
|
72,552
|
$
|
63,690
|
|||||||||||
|
Operating expenses:
|
||||||||||||||||
|
Research and development costs, net
|
5,755
|
5,715
|
24,496
|
26,112
|
||||||||||||
|
Sales and marketing
|
8,072
|
7,508
|
30,819
|
30,908
|
||||||||||||
|
General and administrative
|
3,911
|
3,518
|
13,633
|
12,684
|
||||||||||||
|
Total operating expenses
|
17,738
|
16,741
|
68,948
|
69,704
|
||||||||||||
|
Operating income (loss)
|
2,570
|
312
|
3,604
|
(6,014
|
)
|
|||||||||||
|
Loss from extinguishment
|
-
|
-
|
(1,410
|
)
|
-
|
|||||||||||
|
Other income
|
-
|
-
|
100
|
-
|
||||||||||||
|
Gain on sales of securities
|
-
|
-
|
193
|
-
|
||||||||||||
|
Financial income, net
|
742
|
368
|
2,451
|
1,910
|
||||||||||||
|
Income (loss) before income tax benefit
|
3,312
|
680
|
4,938
|
(4,104
|
)
|
|||||||||||
|
Income tax expenses
|
410
|
439
|
1,233
|
1,765
|
||||||||||||
|
Net income (loss)
|
$
|
2,902
|
$
|
241
|
$
|
3,705
|
$
|
(5,869
|
)
|
|||||||
|
Basic net income (loss) per share
|
$
|
0.06
|
$
|
0.01
|
$
|
0.08
|
$
|
(0.15
|
)
|
|||||||
|
Diluted net income (loss) per share
|
$
|
0.06
|
$
|
0.01
|
$
|
0.08
|
$
|
(0.15
|
)
|
|||||||
|
Weighted average number of shares used in computing basic net income (loss) per share
|
48,528,584
|
39,379,254
|
44,070,008
|
38,928,475
|
||||||||||||
|
Weighted average number of shares used in computing diluted net income (loss) per share
|
49,853,533
|
41,772,402
|
46,184,989
|
38,928,475
|
||||||||||||
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,
|
|||||||||||||||
|
2025
|
2024
|
2025
|
2024
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
GAAP cost of revenues
|
$
|
8,079
|
$
|
7,853
|
$
|
29,441
|
$
|
28,505
|
||||||||
|
Share-based compensation (1)
|
(99
|
)
|
(148
|
)
|
(564
|
)
|
(779
|
)
|
||||||||
|
Amortization of intangible assets (2)
|
-
|
(152
|
)
|
(305
|
)
|
(608
|
)
|
|||||||||
|
Non-GAAP cost of revenues
|
$
|
7,980
|
$
|
7,553
|
$
|
28,572
|
$
|
27,118
|
||||||||
|
GAAP gross profit
|
$
|
20,308
|
$
|
17,053
|
$
|
72,552
|
$
|
63,690
|
||||||||
|
Gross profit adjustments
|
99
|
300
|
869
|
1,387
|
||||||||||||
|
Non-GAAP gross profit
|
$
|
20,407
|
$
|
17,353
|
$
|
73,421
|
$
|
65,077
|
||||||||
|
GAAP operating expenses
|
$
|
17,738
|
$
|
16,741
|
$
|
68,948
|
$
|
69,704
|
||||||||
|
Share-based compensation (1)
|
(929
|
)
|
(1,176
|
)
|
(4,453
|
)
|
(5,261
|
)
|
||||||||
|
Non-GAAP operating expenses
|
$
|
16,809
|
$
|
15,565
|
$
|
64,495
|
$
|
64,443
|
||||||||
|
GAAP Loss from extinguishment
|
$
|
-
|
$
|
-
|
$
|
(1,410
|
)
|
$
|
-
|
|||||||
|
Loss from extinguishment
|
-
|
-
|
1,410
|
-
|
||||||||||||
|
Non-GAAP Loss from extinguishment
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||||
|
GAAP financial income
|
$
|
742
|
$
|
368
|
$
|
2,451
|
$
|
1,910
|
||||||||
|
Exchange rate differences*
|
(40
|
)
|
159
|
119
|
502
|
|||||||||||
|
Non-GAAP Financial income
|
$
|
702
|
$
|
527
|
$
|
2,570
|
$
|
2,412
|
||||||||
|
GAAP taxes on income
|
$
|
410
|
$
|
439
|
$
|
1,233
|
$
|
1,765
|
||||||||
|
Changes in tax related items
|
(225
|
)
|
(130
|
)
|
(375
|
)
|
(352
|
)
|
||||||||
|
Non-GAAP taxes on income
|
$
|
185
|
$
|
309
|
$
|
858
|
$
|
1,413
|
||||||||
|
GAAP Net income (Loss)
|
$
|
2,902
|
$
|
241
|
$
|
3,705
|
$
|
(5,869
|
)
|
|||||||
|
Share-based compensation (1)
|
1,028
|
1,324
|
5,018
|
6,040
|
||||||||||||
|
Amortization of intangible assets (2)
|
-
|
152
|
305
|
608
|
||||||||||||
|
Loss from extinguishment
|
-
|
-
|
1,410
|
-
|
||||||||||||
|
Exchange rate differences*
|
(40
|
)
|
159
|
119
|
502
|
|||||||||||
|
Changes in tax related items
|
225
|
130
|
375
|
352
|
||||||||||||
|
Non-GAAP Net income (loss)
|
$
|
4,115
|
$
|
2,006
|
$
|
10,931
|
$
|
1,633
|
||||||||
|
GAAP Net income (loss) per share (diluted)
|
$
|
0.06
|
$
|
0.01
|
$
|
0.08
|
$
|
(0.15
|
)
|
|||||||
|
Share-based compensation
|
0.02
|
0.03
|
0.11
|
0.16
|
||||||||||||
|
Amortization of intangible assets
|
-
|
-
|
0.01
|
0.02
|
||||||||||||
|
Loss from extinguishment
|
-
|
-
|
0.03
|
-
|
||||||||||||
|
Restructuring expenses
|
-
|
0.01
|
-
|
0.01
|
||||||||||||
|
Non-GAAP Net income (Loss) per share (diluted)
|
$
|
0.08
|
$
|
0.05
|
$
|
0.23
|
$
|
0.04
|
||||||||
|
|
||||||||||||||||
|
Weighted average number of shares used in computing GAAP diluted net income (loss) per share
|
48,528,584
|
39,379,254
|
44,070,008
|
38,928,475
|
||||||||||||
|
Weighted average number of shares used in computing non-GAAP diluted net income (loss) per share
|
50,913,796
|
42,560,457
|
47,181,673
|
42,289,637
|
||||||||||||
|
* 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 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,
|
|||||||||||||||
|
2025
|
2024
|
2025
|
2024
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
|||||||||||||||
|
(1) Share-based compensation:
|
||||||||||||||||
|
Cost of revenues
|
$
|
99
|
$
|
148
|
$
|
564
|
$
|
779
|
||||||||
|
Research and development costs, net
|
190
|
301
|
1,213
|
1,988
|
||||||||||||
|
Sales and marketing
|
334
|
310
|
1,571
|
1,855
|
||||||||||||
|
General and administrative
|
405
|
565
|
1,670
|
1,418
|
||||||||||||
|
$
|
1,028
|
$
|
1,324
|
$
|
5,018
|
$
|
6,040
|
|||||||||
|
(2) Amortization of intangible assets
|
||||||||||||||||
|
Cost of revenues
|
$
|
-
|
$
|
152
|
$
|
305
|
$
|
608
|
||||||||
|
$
|
-
|
$
|
152
|
$
|
305
|
$
|
608
|
|||||||||
TABLE - 3
ALLOT LTD.
AND ITS SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)
|
December 31,
|
December 31,
|
|||||||
|
2025
|
2024
|
|||||||
|
(Unaudited)
|
(Audited)
|
|||||||
|
ASSETS
|
||||||||
|
CURRENT ASSETS:
|
||||||||
|
Cash and cash equivalents
|
$
|
17,107
|
$
|
16,142
|
||||
|
Restricted deposit
|
3,573
|
904
|
||||||
|
Short-term bank deposits
|
15,100
|
15,250
|
||||||
|
Available-for-sale marketable securities
|
48,663
|
26,470
|
||||||
|
Trade receivables, net (net of allowance for credit losses of $9,611 and $25,306 on December 31, 2025 and December 31, 2024 , respectively)
|
17,451
|
16,482
|
||||||
|
Other receivables and prepaid expenses
|
9,906
|
6,317
|
||||||
|
Inventories
|
13,180
|
8,611
|
||||||
|
Total current assets
|
124,980
|
90,176
|
||||||
|
NON-CURRENT ASSETS:
|
||||||||
|
Severance pay fund
|
$
|
295
|
$
|
464
|
||||
|
Restricted deposit
|
3,327
|
279
|
||||||
|
Operating lease right-of-use assets
|
5,518
|
6,741
|
||||||
|
Other assets
|
732
|
2,151
|
||||||
|
Property and equipment, net
|
6,014
|
7,692
|
||||||
|
Intangible assets, net
|
-
|
305
|
||||||
|
Goodwill
|
31,833
|
31,833
|
||||||
|
Total non-current assets
|
47,719
|
49,465
|
||||||
|
Total assets
|
$
|
172,699
|
$
|
139,641
|
||||
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
||||||||
|
CURRENT LIABILITIES:
|
||||||||
|
Trade payables
|
$
|
938
|
$
|
946
|
||||
|
Employees and payroll accruals
|
9,254
|
8,208
|
||||||
|
Deferred revenues
|
24,700
|
17,054
|
||||||
|
Short-term operating lease liabilities
|
348
|
562
|
||||||
|
Other payables and accrued expenses
|
11,919
|
9,200
|
||||||
|
Total current liabilities
|
47,159
|
35,970
|
||||||
|
LONG-TERM LIABILITIES:
|
||||||||
|
Deferred revenues
|
5,912
|
7,136
|
||||||
|
Long-term operating lease liabilities
|
5,392
|
5,807
|
||||||
|
Accrued severance pay
|
886
|
946
|
||||||
|
Convertible debt
|
-
|
39,973
|
||||||
|
Total long-term liabilities
|
12,190
|
53,862
|
||||||
|
SHAREHOLDERS' EQUITY
|
113,350
|
49,809
|
||||||
|
Total liabilities and shareholders' equity
|
$
|
172,699
|
$
|
139,641
|
||||
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,
|
|||||||||||||||
|
2025
|
2024
|
2025
|
2024
|
|||||||||||||
|
(Unaudited)
|
(Unaudited)
|
(Audited)
|
||||||||||||||
|
Cash flows from operating activities:
|
||||||||||||||||
|
Net income (loss)
|
$
|
2,902
|
$
|
241
|
$
|
3,705
|
$
|
(5,869
|
)
|
|||||||
|
Adjustments to reconcile net loss to net cash used in operating activities:
|
||||||||||||||||
|
Depreciation and amortization
|
794
|
2,348
|
4,048
|
6,424
|
||||||||||||
|
Share-based compensation
|
1,029
|
1,324
|
5,018
|
6,040
|
||||||||||||
|
Capital loss
|
-
|
-
|
255
|
-
|
||||||||||||
|
Loss from extinguishment
|
-
|
-
|
1,410
|
-
|
||||||||||||
|
Other income
|
-
|
-
|
(100
|
)
|
-
|
|||||||||||
|
Gain on sales of securities
|
-
|
-
|
(193
|
)
|
-
|
|||||||||||
|
Changes in operating assets and liabilities:
|
||||||||||||||||
|
Decrease (Increase) in accrued severance pay, net
|
(8
|
)
|
(48
|
)
|
109
|
(203
|
)
|
|||||||||
|
Decrease (Increase) in other assets, other receivables and prepaid expenses
|
2,063
|
(274
|
)
|
(135
|
)
|
702
|
||||||||||
|
Decrease in accrued interest and amortization of premium on available-for sale marketable securities
|
(309
|
)
|
(223
|
)
|
(1,215
|
)
|
(1,392
|
)
|
||||||||
|
Decrease in operating leases liability
|
(533
|
)
|
(545
|
)
|
(546
|
)
|
(1,644
|
)
|
||||||||
|
Decrease in operating lease right-of-use asset
|
269
|
325
|
1,140
|
2,174
|
||||||||||||
|
Decrease (Increase) in trade receivables
|
3,363
|
888
|
(969
|
)
|
(1,654
|
)
|
||||||||||
|
Decrease (Increase) in inventories
|
1,028
|
1,438
|
(4,569
|
)
|
3,263
|
|||||||||||
|
Increase in trade payables
|
(6,260
|
)
|
(2,178
|
)
|
(8
|
)
|
(24
|
)
|
||||||||
|
Increase (Decrease) in employees and payroll accruals
|
(371
|
)
|
(1,798
|
)
|
1,046
|
(4,358
|
)
|
|||||||||
|
Increase in deferred revenues
|
3,466
|
3,265
|
6,422
|
1,861
|
||||||||||||
|
Increase (Decrease) in other payables and accrued expenses
|
813
|
(684
|
)
|
2,938
|
(494
|
)
|
||||||||||
|
Gain of foreign exchange on cash and cash equivalents
|
(112
|
)
|
-
|
(565
|
)
|
-
|
||||||||||
|
Net cash provided by operating activities
|
8,134
|
4,079
|
17,791
|
4,826
|
||||||||||||
|
Cash flows from investing activities:
|
||||||||||||||||
|
Decrease (Increase) in restricted deposit
|
(6,070
|
)
|
-
|
(5,717
|
)
|
703
|
||||||||||
|
Investment in short-term bank deposits
|
(12,800
|
)
|
(15,250
|
)
|
(45,350
|
)
|
(24,550
|
)
|
||||||||
|
Withdrawal of short-term bank deposits
|
14,500
|
5,500
|
45,500
|
19,300
|
||||||||||||
|
Purchase of property and equipment
|
(1,504
|
)
|
(445
|
)
|
(2,293
|
)
|
(2,117
|
)
|
||||||||
|
Investment in marketable securities
|
(14,022
|
)
|
(16,719
|
)
|
(113,669
|
)
|
(61,003
|
)
|
||||||||
|
Proceeds from redemption or sale of marketable securities
|
4,525
|
10,750
|
92,902
|
64,790
|
||||||||||||
|
Proceeds from sale of patent
|
-
|
-
|
100
|
-
|
||||||||||||
|
Net cash used in investing activities
|
(15,371
|
)
|
(16,164
|
)
|
(28,527
|
)
|
(2,877
|
)
|
||||||||
|
Cash flows from financing activities:
|
||||||||||||||||
|
Issuance of share capital
|
-
|
-
|
42,308
|
-
|
||||||||||||
|
Proceeds from exercise of stock options
|
-
|
1
|
238
|
1
|
||||||||||||
|
Redemption of convertible debt
|
-
|
-
|
(31,410
|
)
|
-
|
|||||||||||
|
Net cash provided by financing activities
|
-
|
1
|
11,136
|
1
|
||||||||||||
|
Effect of exchange rate changes on cash and cash equivalents
|
112
|
-
|
565
|
-
|
||||||||||||
|
Increase (Decrease) in cash and cash equivalents
|
(7,125
|
)
|
(12,084
|
)
|
965
|
1,950
|
||||||||||
|
Cash, cash equivalents at the beginning of the period
|
24,232
|
28,226
|
16,142
|
14,192
|
||||||||||||
|
Cash, cash equivalents at the end of the period
|
$
|
17,107
|
$
|
16,142
|
$
|
17,107
|
$
|
16,142
|
||||||||
|
Non-cash activities:
|
||||||||||||||||
|
ROU asset and lease liability decrease, due to lease termination
|
-
|
-
|
(83
|
)
|
-
|
|||||||||||
|
Redemption of convertible debt
|
-
|
-
|
(10,000
|
)
|
-
|
|||||||||||
|
Right-of-use assets obtained in the exchange for operating lease liabilities
|
-
|
63
|
-
|
5,858
|
||||||||||||
Other financial metrics (Unaudited)
U.S. dollars in millions, except top 10 customers as a % of revenues and number of shares
|
Q4-25
|
FY 2025
|
FY 2024
|
||||||||||||||||||||||
|
Revenues geographic breakdown
|
||||||||||||||||||||||||
|
Americas
|
4.2
|
15
|
%
|
19.1
|
19
|
%
|
14.2
|
15
|
%
|
|||||||||||||||
|
EMEA
|
18.2
|
64
|
%
|
63.7
|
62
|
%
|
54.0
|
59
|
%
|
|||||||||||||||
|
Asia Pacific
|
6.0
|
21
|
%
|
19.2
|
19
|
%
|
24.0
|
26
|
%
|
|||||||||||||||
|
28.4
|
100
|
%
|
102.0
|
100
|
%
|
92.2
|
100
|
%
|
||||||||||||||||
|
Revenues breakdown by type
|
||||||||||||||||||||||||
|
SECaaS (Security as a Service)
|
8.1
|
28
|
%
|
26.8
|
26
|
%
|
16.5
|
18
|
%
|
|||||||||||||||
|
Products
|
8.4
|
30
|
%
|
31.1
|
30
|
%
|
30.1
|
33
|
%
|
|||||||||||||||
|
Professional Services
|
2.9
|
10
|
%
|
8.2
|
8
|
%
|
8.3
|
9
|
%
|
|||||||||||||||
|
Support & Maintenance
|
9.0
|
32
|
%
|
35.9
|
36
|
%
|
37.3
|
40
|
%
|
|||||||||||||||
|
28.4
|
100
|
%
|
102.0
|
100
|
%
|
92.2
|
100
|
%
|
||||||||||||||||
|
Top 10 customers as a % of revenues
|
46
|
%
|
41
|
%
|
43
|
%
|
||||||||||||||||||
|
Non-GAAP Weighted average number of basic shares (in millions)
|
48.5
|
44.1
|
38.9
|
|||||||||||||||||||||
|
Non-GAAP weighted average number of fully diluted shares (in millions)
|
50.9
|
47.2
|
42.3
|
|||||||||||||||||||||
SECaaS (Security as a Service) revenues- U.S. dollars in millions (Unaudited)
|
Q4-2025:
|
8.1
|
|||
|
Q3-2025:
|
7.3
|
|||
|
Q2-2025:
|
6.4
|
|||
|
Q1-2025:
|
5.1
|
|||
|
Q4-2024:
|
4.8
|
SECaaS ARR* - U.S. dollars in millions (Unaudited)
|
Dec. 2025:
|
30.8
|
|||
|
Dec. 2024:
|
18.2
|
|||
|
Dec. 2023:
|
12.7
|
|||
|
Dec. 2022:
|
9.2
|