Allot Lowered FY23 Revenue Guidance To $95M - $110M From $110M-$120M Vs. Consensus Of $112.47M
Portfolio Pulse from Benzinga Newsdesk
Allot has revised its FY23 revenue guidance downwards to $95M - $110M from the previous $110M-$120M, against a consensus of $112.47M. The company expects a full year 2023 operating loss of between $38M and $44M, including a $14.1M provision for credit losses from two customers in Africa. It also anticipates a negative cash flow of between $24M and $44M for the same period. However, Allot reiterates its expectations to be profitable in 2024.
August 31, 2023 | 9:05 am
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Allot's downward revision of its FY23 revenue guidance and expected operating loss and negative cash flow for 2023 could negatively impact its stock price in the short term. However, the company's reiteration of its profitability expectations for 2024 may provide some reassurance to investors.
The downward revision of revenue guidance and expected losses for 2023 indicate potential financial difficulties for Allot, which could lead to a decrease in investor confidence and a drop in the stock price. However, the company's reaffirmation of its profitability expectations for 2024 may mitigate some of this negative impact.
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