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Alarum Estimated H1 2024 Revenue Of $17.2M, Operating Cashflow Of $6.3M

Author: Benzinga Newsdesk | July 10, 2024 08:52am

Cash and cash equivalents balance reaches all-time high of approximately $21.7 million

NetNut's revenues estimated to grow more than 95% YoY in the first half of 2024

Tel Aviv, Israel, July 10, 2024 (GLOBE NEWSWIRE) -- Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) ("Alarum" or the "Company"), a global provider of internet access and web data collection solutions, today provided preliminary key financial metrics guidance for the six months ended on June 30, 2024.

Based on a preliminary, unaudited review, Alarum anticipates reporting Strong performance for the first half and second quarter of 2024, highlighting accelerated operating and business growth:

  • Revenue for the first half of 2024 is estimated at $17.2 million, representing an estimated increase of more than 35% compared to the same period in 2023.  Revenue for the second quarter of 2024 is estimated at more than $8.8 million, representing the highest quarterly revenue achievement to date and an estimated increase of 25% compared to the same period in 2023.
  • In the first half of 2024, the Company is estimated to have generated approximately $6.3 million in cashflow from operating activities, compared to a negative cashflow of approximately $0.1 million for the same period in 2023. In the second quarter of 2024, the Company is estimated to have generated approximately $3.1 million in cashflow from operating activities, including annual commission payments for the sales teams following meeting their targets for 2023 revenues, compared to a negative cashflow of approximately $0.3 million for the same period in 2023.
  • Cash and cash equivalents balance as of June 30, 2024, amounted to approximately $21.7 million.
  • NetNut Ltd.'s ("NetNut") first half revenues are estimated at $16.7 million, a growth of more than 95% in the first half of 2024 compared to the equivalent period in 2023.
  • NetNut's revenues for the second quarter of 2024 are estimated at $8.6 million, a growth of approximately 70% compared to the equivalent period in 2023. 

Posted In: ALAR


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