UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2024
Commission File Number: 001-33129
ALLOT LTD.
(Translation of registrant’s name into English)
22 Hanagar Street
Neve Ne'eman Industrial Zone B
Hod-Hasharon 45240
Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________
EXPLANATORY NOTE
On February 15, 2024, Allot Ltd. issued a press release announcing the Fourth Quarter and Full Year 2023 Financial Results.
A copy of the press release entitled “Allot Announces Fourth Quarter and Full Year 2023 Financial Results” is attached to this Form 6-K as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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By:
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/s/ Ziv Leitman
Ziv Leitman
Chief Financial Officer
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Date: February 15, 2024
EXHIBIT INDEX
The following exhibit has been filed as part of this Form 6-K:
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Exhibit Number
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Description
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Allot Announces Fourth Quarter & Full Year 2023
Financial Results
Hod Hasharon, Israel – February 15, 2024 - 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 its unaudited fourth quarter and full-year 2023 financial results.
Financial Highlights
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• |
Fourth quarter revenues were $24.3 million and full-year 2023 revenues were $93.2 million;
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SECaaS revenues were $3.2 million for Q4 and $10.6 million for FY 2023, up 41.5% and 48.4% year-over-year respectively.
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December 2023 SECaaS ARR* was $12.7 million;
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Q4 GAAP net loss was $18.3 million and non-GAAP net loss was $16.4 million, including a credit loss provision for 2 specific customers of approximately $9 million; the full year 2023 GAAP net loss was $62.8 million and non-GAAP net loss
was $53.3 million, including a credit loss provision of approximately $23 million;
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Financial Outlook
Looking ahead to 2024, management expectations are as follows:
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Full-year 2024 non-GAAP operating profit and free cash flow breakeven
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Continued double-digit growth of SECaaS revenues and ARR
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Management Comment
Erez Antebi, President & CEO of Allot, commented, “2023 represented a year with significant challenges on multiple fronts. While the macro economic
environment and service provider spending remain challenging, we are controlling what we can control. As we announced in prior quarters, we have taken aggressive actions to align our expense footprint with the expected revenue level going ahead. Our
goal is to bring the business back to profitability while investing in our long-term growth engine, Security as a Service (SECaaS).”
The Company also announces that Mr. Manuel Echanove is stepping down from the Board to focus on other opportunities.
Q4 2023 Financial Results Summary
Total revenues for the fourth quarter of 2023 were $24.3 million, a decrease of 26.3% compared to $33.0 million in the fourth quarter of 2022.
Gross profit on a GAAP basis for the fourth quarter of 2023 was $11.4 million (gross margin of 46.8%), a 47.9% decline compared with $21.9 million (gross
margin of 66.3%) in the fourth quarter of 2022.
Gross profit on a non-GAAP basis for the fourth quarter of 2023 was $12.6 million (gross margin of 51.7%), a 43.7% decline compared with $22.4 million (gross
margin of 67.7%) in the fourth quarter of 2022. The fourth quarter gross margin level was negatively impacted by a one-time write-off.
Net loss on a GAAP basis for the fourth quarter of 2023 was $18.3 million, or $0.48 per basic share, compared with a net loss of $6.7 million, or $0.18 per
basic share, in the fourth quarter of 2022.
Net loss on a non-GAAP for the fourth quarter of 2023 was $16.4 million, or $0.43 per basic share compared with a non-GAAP net loss of $4.9 million, or $0.13
per basic share, in the fourth quarter of 2022. A credit loss provision for 2 specific customers of approximately $9 million increased the fourth quarter expenses.
Full Year 2023 Financial Results Summary
Total revenues for 2023 were $93.2 million, a 24.1% decrease compared to $122.7 million in 2022.
Gross profit on a GAAP basis for 2023 was $52.7 million (gross margin of 56.6%), a 36.5% decline compared with $82.9 million (gross margin of 67.5%) in 2022.
Gross profit on a non-GAAP basis for 2023 was $55.5 million (gross margin of 59.6%), a 34.4% decline compared with $84.7 million (gross margin of 69%) in 2022.
Net loss on a GAAP basis for 2023 was $62.8 million, or $1.66 per basic share, compared with a net loss of $32.0 million, or $0.87 per basic share, in 2022.
Net loss on a non-GAAP basis for 2023 was $53.3 million, or $1.41 per basic share, compared with a net loss of $23.2 million, or $0.63 per basic share, in
2022. A credit loss provision of approximately $23 million increased the 2023 expenses.
Cash, short-term bank deposits, and investments as of December 31, 2023, totaled $54.9 million, compared to $86.4 million as of December 31, 2022.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss its fourth quarter and full year 2023 earnings results today, February 15, 2024, at 8:30 am ET, 3:30 pm Israel time. 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 and, following the end of the call, an archive of the conference call, will be accessible on the Allot website at: http://investors.allot.com/index.cfm
About Allot
Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing value to their
customers. Our solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more. Allot's multi-service platforms are deployed by over 500 mobile, fixed, and cloud service
providers and over 1,000 enterprises. Our industry-leading network-based security as a service solution is already used by many millions of subscribers globally. Allot. See. Control. Secure.
For more information, visit www.allot.com
Performance Metrics
* Total ARR - Support & Maintenance ARR (measures the current annual run rate of support & maintenance revenues, which is calculated based on the expected revenues for the fourth quarter of
2023, excluding one-time items, and multiplied by 4) and SECaaS ARR (measures the current annual run rate of SECaaS revenues, which is calculated based on estimated revenues for the month of Dec. 2023 and multiplied by 12).
GAAP to Non-GAAP Reconciliation:
The difference between GAAP and non-GAAP revenues is related to the acquisitions made by the Company and represents revenues adjusted for the impact of the fair value adjustment to acquired deferred
revenue related to purchase accounting. Non-GAAP net income is defined as GAAP net income after including deferred revenues related to the fair value adjustment resulting from purchase accounting and excluding stock-based compensation expenses,
amortization of acquisition-related intangible assets, deferred tax asset adjustment and changes in taxes-related items.
These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results is
provided in the accompanying Table 2. The Company provides these non-GAAP financial measures because it believes they present a better measure of the Company’s core business and management uses the non-GAAP measures internally to evaluate the
Company’s ongoing performance. Accordingly, the Company believes they are useful to investors in enhancing an understanding of the Company’s operating performance.
Safe Harbor Statement
This release contains forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and
uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements set forth in such forward-looking statements. Important factors that could cause or contribute to
such differences include risks relating to: our accounts receivables, including our ability to collect outstanding accounts and assess their collectability on a quarterly basis; our ability to meet expectations with respect to our financial guidance
and outlook; our ability to compete successfully with other companies offering competing technologies; the loss of one or more significant customers; consolidation of, and strategic alliances by, our competitors; government regulation; the timing of
completion of key project milestones which impact the timing of our revenue recognition; lower demand for key value-added services; our ability to keep pace with advances in technology and to add new features and value-added services; managing
lengthy sales cycles; operational risks associated with large projects; our dependence on fourth party channel partners for a material portion of our revenues; and other factors discussed under the heading "Risk Factors" in the Company's annual
report on Form 20-F filed with the Securities and Exchange Commission. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking
statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
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Investor Relations Contact:
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Public Relations Contact:
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EK Global Investor Relations
Ehud Helft
+1 212 378 8040
allot@ekgir.com
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Seth Greenberg, Allot Ltd.
+972 54 922 2294
sgreenberg@allot.com
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TABLE - 1
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ALLOT LTD.
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AND ITS SUBSIDIARIES
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CONSOLIDATED STATEMENTS OF OPERATIONS
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(U.S. dollars in thousands, except share and per share data)
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Three Months Ended
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Year Ended
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December 31,
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December 31,
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2023
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2022
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2023
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2022
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(Unaudited)
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(Unaudited)
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(Audited)
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Revenues
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$
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24,342
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$
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33,029
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$
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93,150
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$
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122,737
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Cost of revenues
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12,941
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11,134
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40,464
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39,831
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Gross profit
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11,401
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21,895
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52,686
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82,906
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Operating expenses:
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Research and development costs, net
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7,942
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12,371
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39,115
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49,800
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Sales and marketing
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12,057
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12,881
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43,850
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49,393
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General and administrative
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10,316
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3,703
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34,656
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15,982
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Total operating expenses
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30,315
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28,955
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117,621
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115,175
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Operating loss
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(18,914
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)
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(7,060
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)
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(64,935
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)
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(32,269
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)
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Financial and other income, net
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661
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796
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3,215
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2,134
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Loss before income tax expenses
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(18,253
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)
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(6,264
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)
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(61,720
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)
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(30,135
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)
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Tax expenses
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96
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474
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1,084
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1,895
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Net Loss
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(18,349
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)
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(6,738
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)
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(62,804
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)
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(32,030
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)
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Basic net loss per share
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$
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(0.48
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)
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$
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(0.18
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)
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$
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(1.66
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)
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$
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(0.87
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)
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|
|
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Diluted net loss per share
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$
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(0.48
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)
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$
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(0.18
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)
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$
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(1.66
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)
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$
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(0.87
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)
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|
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Weighted average number of shares used in
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|
|
|
|
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computing basic net loss per share
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38,293,808
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37,325,971
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37,911,214
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36,975,424
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|
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|
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|
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|
|
|
|
|
|
|
|
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Weighted average number of shares used in
|
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|
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|
|
|
|
|
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computing diluted net loss per share
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38,293,808
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37,325,971
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37,911,214
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36,975,424
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TABLE - 2
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ALLOT LTD.
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AND ITS SUBSIDIARIES
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RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
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(U.S. dollars in thousands, except per share data)
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Three Months Ended
|
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Year Ended
|
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|
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December 31,
|
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December 31,
|
|
|
|
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2023
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2022
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2023
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2022
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|
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|
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(Unaudited)
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(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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GAAP cost of revenues
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$
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12,941
|
|
|
$
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11,134
|
|
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$
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40,464
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|
|
$
|
39,831
|
|
|
Share-based compensation (1)
|
|
|
(162
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)
|
|
|
(323
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)
|
|
|
(1,219
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)
|
|
|
(1,133
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)
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Amortization of intangible assets (2)**
|
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|
(1,024
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)
|
|
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(157
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)
|
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(1,606
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)
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(613
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)
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Non-GAAP cost of revenues
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$
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11,755
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|
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$
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10,654
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|
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$
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37,639
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|
|
$
|
38,085
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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GAAP gross profit
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$
|
11,401
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|
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$
|
21,895
|
|
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$
|
52,686
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|
|
$
|
82,906
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|
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Gross profit adjustments
|
|
|
1,186
|
|
|
|
480
|
|
|
|
2,825
|
|
|
|
1,746
|
|
|
Non-GAAP gross profit
|
|
$
|
12,587
|
|
|
$
|
22,375
|
|
|
$
|
55,511
|
|
|
$
|
84,652
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating expenses
|
|
$
|
30,315
|
|
|
$
|
28,955
|
|
|
$
|
117,621
|
|
|
$
|
115,175
|
|
|
Share-based compensation (1)
|
|
|
(1,449
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)
|
|
|
(1,966
|
)
|
|
|
(7,626
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)
|
|
|
(8,032
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)
|
|
Amortization of intangible assets (2)**
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|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Income related to M&A activities (3)
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|
|
699
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|
|
|
274
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|
|
|
699
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|
|
|
274
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|
|
Changes in taxes and headcount related items (4)
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|
|
-
|
|
|
|
325
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|
|
|
-
|
|
|
|
325
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|
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Non-GAAP operating expenses
|
|
$
|
29,565
|
|
|
$
|
27,588
|
|
|
$
|
110,694
|
|
|
$
|
107,742
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP financial and other income
|
|
$
|
661
|
|
|
$
|
796
|
|
|
$
|
3,215
|
|
|
$
|
2,134
|
|
|
Exchange rate differences*
|
|
|
(50
|
)
|
|
|
(85
|
)
|
|
|
(378
|
)
|
|
|
(442
|
)
|
|
Expenses related to M&A activities (3)
|
|
|
-
|
|
|
|
4
|
|
|
|
43
|
|
|
|
4
|
|
|
Non-GAAP Financial and other income
|
|
$
|
611
|
|
|
$
|
715
|
|
|
$
|
2,880
|
|
|
$
|
1,696
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP taxes on income
|
|
$
|
96
|
|
|
$
|
474
|
|
|
$
|
1,084
|
|
|
$
|
1,895
|
|
|
Changes in tax related items
|
|
|
(25
|
)
|
|
|
(25
|
)
|
|
|
(100
|
)
|
|
|
(100
|
)
|
|
Non-GAAP taxes on income
|
|
$
|
71
|
|
|
$
|
449
|
|
|
$
|
984
|
|
|
$
|
1,795
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Net Loss
|
|
$
|
(18,349
|
)
|
|
$
|
(6,738
|
)
|
|
$
|
(62,804
|
)
|
|
$
|
(32,030
|
)
|
|
Share-based compensation (1)
|
|
|
1,611
|
|
|
|
2,289
|
|
|
|
8,845
|
|
|
|
9,165
|
|
|
Amortization of intangible assets (2)**
|
|
|
1,024
|
|
|
|
157
|
|
|
|
1,606
|
|
|
|
613
|
|
|
Income related to M&A activities (3)
|
|
|
(699
|
)
|
|
|
(270
|
)
|
|
|
(656
|
)
|
|
|
(270
|
)
|
|
Changes in taxes and headcount related items (4)
|
|
|
-
|
|
|
|
(325
|
)
|
|
|
-
|
|
|
|
(325
|
)
|
|
Exchange rate differences*
|
|
|
(50
|
)
|
|
|
(85
|
)
|
|
|
(378
|
)
|
|
|
(442
|
)
|
|
Changes in tax related items
|
|
|
25
|
|
|
|
25
|
|
|
|
100
|
|
|
|
100
|
|
|
Non-GAAP Net income (loss)
|
|
$
|
(16,438
|
)
|
|
$
|
(4,947
|
)
|
|
$
|
(53,287
|
)
|
|
$
|
(23,189
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP Loss per share (diluted)
|
|
$
|
(0.48
|
)
|
|
$
|
(0.18
|
)
|
|
$
|
(1.66
|
)
|
|
$
|
(0.87
|
)
|
|
Share-based compensation
|
|
|
0.04
|
|
|
|
0.06
|
|
|
|
0.23
|
|
|
|
0.25
|
|
|
Amortization of intangible assets**
|
|
|
0.03
|
|
|
|
0.01
|
|
|
|
0.05
|
|
|
|
0.02
|
|
|
Income related to M&A activities
|
|
|
(0.02
|
)
|
|
|
(0.01
|
)
|
|
|
(0.02
|
)
|
|
|
(0.01
|
)
|
|
Changes in taxes and headcount related items
|
|
|
-
|
|
|
|
(0.01
|
)
|
|
|
-
|
|
|
|
(0.01
|
)
|
|
Exchange rate differences*
|
|
|
(0.00
|
)
|
|
|
(0.00
|
)
|
|
|
(0.01
|
)
|
|
|
(0.01
|
)
|
|
Non-GAAP Net income (loss) per share (diluted)
|
|
$
|
(0.43
|
)
|
|
$
|
(0.13
|
)
|
|
$
|
(1.41
|
)
|
|
$
|
(0.63
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
computing GAAP diluted net loss per share
|
|
|
38,293,808
|
|
|
|
37,325,971
|
|
|
|
37,911,214
|
|
|
|
36,975,424
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
computing non-GAAP diluted net loss per share
|
|
|
38,293,808
|
|
|
|
37,325,971
|
|
|
|
37,911,214
|
|
|
|
36,975,424
|
|
* Financial income or expenses related to exchange rate differences in connection with revaluation of assets and liabilities in non-dollar denominated currencies.
** While amortization of acquired intangible assets is excluded from the measures, the revenue of the acquired companies is reflected in the measures and the acquired assets contribute to revenue generation.
|
TABLE - 2 cont.
|
|
ALLOT LTD.
|
|
AND ITS SUBSIDIARIES
|
|
RECONCILIATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
(U.S. dollars in thousands, except per share data)
|
|
|
|
Three Months Ended
|
|
|
Year Ended
|
|
|
|
|
December 31,
|
|
|
December 31,
|
|
|
|
|
2023
|
|
|
2022
|
|
|
2023
|
|
|
2022
|
|
|
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Share-based compensation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
|
$
|
162
|
|
|
$
|
323
|
|
|
$
|
1,219
|
|
|
$
|
1,133
|
|
|
Research and development costs, net
|
|
|
597
|
|
|
|
775
|
|
|
|
3,010
|
|
|
|
3,168
|
|
|
Sales and marketing
|
|
|
473
|
|
|
|
684
|
|
|
|
2,651
|
|
|
|
2,943
|
|
|
General and administrative
|
|
|
379
|
|
|
|
507
|
|
|
|
1,965
|
|
|
|
1,921
|
|
|
|
|
$
|
1,611
|
|
|
$
|
2,289
|
|
|
$
|
8,845
|
|
|
$
|
9,165
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Amortization of intangible assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues
|
|
$
|
1,024
|
|
|
$
|
157
|
|
|
$
|
1,606
|
|
|
$
|
613
|
|
|
|
|
$
|
1,024
|
|
|
$
|
157
|
|
|
$
|
1,606
|
|
|
$
|
613
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Expenses (Income) related to M&A activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General and administrative
|
|
$
|
(699
|
)
|
|
$
|
-
|
|
|
$
|
(699
|
)
|
|
$
|
-
|
|
|
Research and development costs, net
|
|
|
-
|
|
|
|
(274
|
)
|
|
|
-
|
|
|
|
(274
|
)
|
|
Finanacial expensees (income)
|
|
|
-
|
|
|
|
4
|
|
|
|
43
|
|
|
|
4
|
|
|
|
|
$
|
(699
|
)
|
|
$
|
(270
|
)
|
|
$
|
(656
|
)
|
|
$
|
(270
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(4) Changes in taxes and headcount related items
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
$
|
-
|
|
|
$
|
(325
|
)
|
|
$
|
-
|
|
|
$
|
(325
|
)
|
|
|
|
$
|
-
|
|
|
$
|
(325
|
)
|
|
$
|
-
|
|
|
$
|
(325
|
)
|
|
TABLE - 3
|
|
ALLOT LTD.
|
|
AND ITS SUBSIDIARIES
|
|
CONSOLIDATED BALANCE SHEETS
|
|
(U.S. dollars in thousands)
|
| |
|
December 31,
|
|
|
December 31,
|
|
| |
|
2023
|
|
|
2022
|
|
| |
|
(Unaudited)
|
|
|
(Audited)
|
|
| |
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
CURRENT ASSETS:
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
14,192
|
|
|
$
|
12,295
|
|
|
Short-term bank deposits
|
|
|
10,000
|
|
|
|
68,765
|
|
|
Restricted deposits
|
|
|
1,728
|
|
|
|
1,050
|
|
|
Available-for-sale marketable securities
|
|
|
28,853
|
|
|
|
4,293
|
|
|
Trade receivables, net (net of allowance for credit losses of $25,253 and $2,908 on December 31, 2023 and December 31, 2022, respectively)
|
|
|
14,828
|
|
|
|
44,167
|
|
|
Other receivables and prepaid expenses
|
|
|
8,422
|
|
|
|
7,985
|
|
|
Inventories
|
|
|
11,874
|
|
|
|
13,262
|
|
|
Total current assets
|
|
|
89,897
|
|
|
|
151,817
|
|
| |
|
|
|
|
|
|
|
|
|
LONG-TERM ASSETS:
|
|
|
|
|
|
|
|
|
|
Restricted deposit
|
|
|
158
|
|
|
|
-
|
|
|
Severance pay fund
|
|
|
395
|
|
|
|
371
|
|
|
Operating lease right-of-use assets
|
|
|
3,057
|
|
|
|
5,387
|
|
|
Trade receivables, net
|
|
|
-
|
|
|
|
4,934
|
|
|
Other assets
|
|
|
562
|
|
|
|
864
|
|
|
Total long-term assets
|
|
|
4,172
|
|
|
|
11,556
|
|
| |
|
|
|
|
|
|
|
|
|
PROPERTY AND EQUIPMENT, NET
|
|
|
11,189
|
|
|
|
14,236
|
|
|
GOODWILL AND INTANGIBLE ASSETS, NET
|
|
|
32,748
|
|
|
|
35,344
|
|
| |
|
|
|
|
|
|
|
|
|
Total assets
|
|
$
|
138,006
|
|
|
$
|
212,953
|
|
| |
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES:
|
|
|
|
|
|
|
|
|
|
Trade payables
|
|
$
|
969
|
|
|
$
|
11,661
|
|
|
Deferred revenues
|
|
|
14,892
|
|
|
|
20,825
|
|
|
Short-term operating lease liabilities
|
|
|
1,453
|
|
|
|
2,542
|
|
|
Other payables and accrued expenses
|
|
|
21,937
|
|
|
|
25,573
|
|
|
Total current liabilities
|
|
|
39,251
|
|
|
|
60,601
|
|
| |
|
|
|
|
|
|
|
|
|
LONG-TERM LIABILITIES:
|
|
|
|
|
|
|
|
|
|
Deferred revenues
|
|
|
7,437
|
|
|
|
7,285
|
|
|
Long-term operating lease liabilities
|
|
|
702
|
|
|
|
2,579
|
|
|
Accrued severance pay
|
|
|
1,080
|
|
|
|
940
|
|
|
Convertible debt
|
|
|
39,773
|
|
|
|
39,575
|
|
|
Total long-term liabilities
|
|
|
48,992
|
|
|
|
50,379
|
|
| |
|
|
|
|
|
|
|
|
|
SHAREHOLDERS' EQUITY
|
|
|
49,763
|
|
|
|
101,973
|
|
| |
|
|
|
|
|
|
|
|
|
Total liabilities and shareholders' equity
|
|
$
|
138,006
|
|
|
$
|
212,953
|
|