Hod Hasharon, Israel – 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 preliminary unaudited financial results for the year ended December 31, 2023.

Allot expects revenues, SECaaS revenues, and Total ARR to be within the guidance range the company provided on November 16, 2023.

As of December 31, 2023, cash, bank deposits, and marketable securities totaled approximately $55 million, also within the guidance range previously provided.

Allot expects to recognize an increase of approximately $9 million in allowance for credit losses, most of which relates to receivables from DISH Purchasing Corporation (DISH), a customer in the United States. Allot received a notice from DISH alleging that the software provided to it by Allot failed to meet certain specifications as required in the contract. DISH is demanding that Allot rectify this default and provide compliant software and related support services.

Allot believes that DISH, who is currently delinquent in making certain due payments to Allot, raises allegations that are without merit and that there is no basis for DISH’s demands as Allot believes it provided compliant software and related support services to DISH in a timely manner. Importantly, the software and related support services were duly accepted by DISH in writing as required under the contract. Allot will vigorously pursue its rights to obtain full payment of all amounts due in accordance with the contract.

The Company’s expectations as to its results of operation are preliminary and subject to the completion of the Company’s financial close process and the completion of its annual audit.

The company plans to publish its fourth quarter and full year 2023 unaudited results on Thursday, February 15, 2024, and host a conference call to discuss those results on that day at 8:30 AM ET (1:30 PM UK, 3:30 PM Israel). The unaudited financial results of the quarter will be published prior to the commencement of the conference call.‎
To access the conference call, please dial one of the following numbers: US:  1-888-642-5032, UK: 0-800-917-5108, Israel: +972-3-918-0610. A live webcast of the conference call can be accessed on the Allot website at http://investors.allot.com/. The webcast will also be archived on the website following the conference call.