Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Alarum (NASDAQ: ALAR) Crushes Top and Bottom-Line Results For Q1 2024

Alarum Technologies (NASDAQ: ALAR) continues to see its NetNut-centric strategy pay off, after reporting another round of record results during the first quarter of 2024. The company has successfully focused on the web data collection space, which is becoming a coveted asset for companies and organizations across many different industries. Furthermore, the company’s technology is a complementary play to the artificial intelligence (AI) boom and the rise of large language models (LLMs) like OpenAI’s ChatGPT.

ALAR: Record Revenue and Adjusted EBITDA For Q1 2024, NetNut Revenues Jump 139% Y/Y

During the first three months of 2024, Alarum reported a record total revenue of $8.4 million, which represented year-over-year growth of 47%. The web data collection company reported an IFRS net profit of $1.4 million, compared to a net loss of $0.7 for Q1 2023. Non-IFRS net profit and earnings per share (EPS) surged to $2.8 million and $0.45 respectively. Earnings per American Depository Share (EPS) came in at $0.23.

Adjusted EBITDA hit a new record of $3.2 million, compared to $0.1 million last year. Margins continue to see impressive gains to 78%, up from 66% during the same period last year.

NetNut-specific results really impressed investors with year-over-year revenue growth of 139% to $8.1 million. Another important statistic is the fact that NetNut is not just growing its customer base, but it is also seeing growth in retained customers. The Net Retention Rate (NRR) for the quarter grew to 1.66.

Alarum’s balance sheet continues to see impressive strength. The company’s current assets have expanded to $19.45 million, compared to $13.27 million at the end of Q4 2023 and $6.28 million during Q1 2023. The overwhelming driver of the current asset growth has come from its ability to generate cash and equivalents. With such impressive growth, it makes sense to see the company’s cash position continue to expand. While assets have exploded higher, Alarum has kept its costs and liabilities in check despite its ability to roll out new products and features. This is an impressive feat and shows impressive operational efficiency.

Alarum Launched AI Web Data Collection and Website Unblocker Products During Q1 2024

The company has been hard at work expanding its product line and providing its vast customer base with cutting-edge technologies to help meet its growing web data collection needs. Alarum announced two key new announcements through the start of 2024: launched the website Unblocker and an innovative AI web data collection product line.

The AI web data collection product will use an intuitive, no-code interface that allows users to continuously collect web data within minutes. Using advanced AI, the product can automatically adapt to website changes to help customers ensure web collection continues without interruption. The Website Unblocker product, which also utilizes AI technology, provides automated web data collection tools with the ability to access public-facing websites without being shut down by anti-bot and other blocker solutions.

Alarum CEO, Mr. Shachar Daniel, has also provided investors with hints of further product launches in the pipeline: “I am thrilled to report another record quarter, marking continued growth and profitability for our company. As market leaders, our dedication to innovation has never been stronger. This quarter, we introduced the ‘Website Unblocker,’ a product that has not only received positive feedback but has also attracted new customers. We also launched our revolutionary ‘AI Data Collector’ product line, which features a user-friendly, no-code interface, that allows users to set up data collection in just minutes. We believe this will be a game-changer in the web data collection industry.”

Conclusion

Overall, the latest first quarter 2024 results continue to show that Alarum’s web data collection strategy is not only working but also paying off at an incredible scale. The company’s technologies have propelled it to a market leadership position at a time when data collection tools and capabilities are seeing high global demand.

Alarum’s commitment to continued innovation for product R&D provides the investment community with further anticipation that this growth run can continue forward. For their customer base, this R&D helps to build confidence that new technologies and improvements will continue to satisfy their data collection needs. This is evident in NetNut’s growing Net Retention Rate. In the end, there is a lot to be excited about at Alarum Technologies after its latest first-quarter 2024 results.

Disclaimer:

Spotlight Growth is compensated, either directly or via a third party, to provide investor relations services for its clients. Spotlight Growth creates exposure for companies through a customized marketing strategy, including design of promotional material, the drafting and editing of press releases and media placement.

All information on featured companies is provided by the companies profiled, or is available from public sources. Spotlight Growth and its employees are not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and we are not qualified to give financial advice. The information contained herein is based on external sources that Spotlight Growth believes to be reliable, but its accuracy is not guaranteed. Spotlight Growth may create reports and content that has been compensated by a company or third-parties, or for purposes of self-marketing. Spotlight Growth was compensated one thousand seven hundred and fifty dollars cash for the creation and dissemination of this content by the company.

This material does not represent a solicitation to buy or sell any securities. Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management.

The above communication, the attachments and external Internet links provided are intended for informational purposes only and are not to be interpreted by the recipient as a solicitation to participate in securities offerings. Investments referenced may not be suitable for all investors and may not be permissible in certain jurisdictions.

Spotlight Growth and its affiliates, officers, directors, and employees may have bought or sold or may buy or sell shares in the companies discussed herein, which may be acquired prior, during or after the publication of these marketing materials. Spotlight Growth, its affiliates, officers, directors, and employees may sell the stock of said companies at any time and may profit in the event those shares rise in value. For more information on our disclosures, please visit: http://spotlightgrowth.com/disclosures/

The post Alarum (NASDAQ: ALAR) Crushes Top and Bottom-Line Results For Q1 2024 appeared first on Spotlight Growth.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.