Allot Ltd.

What they do

Allot Ltd. develops network intelligence and security solutions built around Deep Packet Inspection technology, sold to telecom carriers and enterprises. The company is incorporated in Israel, headquartered at 22 Hanagar Street, Hod-Hasharon, and its ordinary shares trade on Nasdaq under the symbol ALLT. It files as a foreign private issuer using U.S. GAAP and reports in U.S. dollars. The fiscal year ended December 31, 2025 was audited by Kost Forer Gabbay & Kasierer, PCAOB ID No. 1281.

Revenue drivers

• Carrier network intelligence and traffic management — The core business sells DPI-based products that let telecom carriers see, analyze and manage traffic on their networks. Revenue is reported annually by segment in the consolidated financial statements; product-line detail and relative sizing are not specified in the excerpts provided.
• Security solutions for carriers and enterprises — The company applies the same network-visibility technology to security use cases, including protection of network traffic. Segment-level revenue splits and customer names are not disclosed in the excerpts provided.
• Software and related support/services — Revenue includes software licenses and related support, though the excerpts provided do not break out the mix or the relative size of recurring versus non-recurring revenue.

Recent performance

Allot's annual revenue fell from $145.6M in 2021 to $93.2M in 2023 and $92.2M in 2024 before recovering to $102.0M in 2025. Net income went from losses of $15.0M in 2021, $32.0M in 2022 and $62.8M in 2023 to a loss of $5.9M in 2024 and net income of $3.7M in 2025. Diluted EPS followed the same path, at $0.08 in 2025 versus $(0.15) in 2024 and $(1.66) in 2023. Operating cash flow turned positive at $4.8M in 2024 and improved to $17.8M in 2025 after negative $29.7M in 2023. Recent quarterly revenue rose year over year to $23.1M in Q1 2025 and $24.1M in Q2 2025, versus $21.9M and $22.2M in the same 2024 quarters.

Strategy

The filings provided contain limited strategy disclosure: the 20-F/A is an amendment filed solely to correct two date errors in the auditor's reports, and it does not modify or update the original report's disclosure. The corrected items are the as-of date for the internal control over financial reporting audit (changed from December 31, 2024 to December 31, 2025) and the date of the audit report referenced in the ICFR opinion (changed from March 25, 2026 to March 26, 2026). No other changes were made to the original report. As a result, the source material does not describe new investments, product priorities or strategic initiatives.

Risks

• Revenue scale down from prior peak — Annual revenue of $102.0M in 2025 remains well below the $145.6M reported in 2021, indicating the business has not recovered its earlier top-line level.
• Short history of profitability — The company reported net losses every year from 2021 through 2024, and 2025 was the first year of positive net income at $3.7M.
• Thin liquidity relative to balance sheet — Cash and equivalents of $17.1M at December 31, 2025 were small relative to $172.7M of total assets and $113.3M of shareholder equity.
• Limited disclosure in the amended filing — The only 20-F/A excerpt provided is an amendment correcting two auditor-report dates, so current segment, customer and product detail cannot be verified from this source alone.

Outlook

The filings provided do not contain management guidance or forward-looking outlook statements. The only current-period datapoint available is the 2025 result: $102.0M of revenue, $3.7M of net income and $17.8M of operating cash flow. Management commentary on 2026 is not included in the source material.