Alarum Estimates Q1 2024 Quarterly Revenue Of More Than $8.3M And All Time High Operating Cashflow Of $3.2M

Author: Benzinga Newsdesk | April 08, 2024 08:35am

Subsidiary NetNut's revenues surged approximately 140% in the first quarter of 2024 compared to the equivalent period in 2023 

Tel Aviv, Israel, April 08, 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 three months ended on March 31, 2024.

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

• Revenue for the first quarter of 2024 is estimated at more than $8.3 million, representing the highest quarterly revenue achievement to date and an estimated increase of close to 50% compared to the same period in 2023.
• In the first quarter of 2024, the Company is estimated to have generated approximately $3.2 million in cashflow from operating activities, compared to a negative cashflow of approximately $0.3 million for the same period in 2023.
• Cash and cash equivalents balance as of March 31, 2024, amounted to approximately $15.0 million.
• NetNut's revenues surged approximately 140% in the first quarter of 2024 compared to the equivalent period in 2023. 

"We are proud to report preliminary numbers for yet another exceptional quarter, in which Alarum has achieved robust growth in both revenues and cash flow. This successful quarter reaffirms our dedication to driving innovation and excellence in everything we do. We continue to witness a growing demand for our new products, particularly our recently launched Web Unblocker, with the onboarding of new customers and the positive feedback we have received", said Shachar Daniel, Alarum's Chief Executive Officer.

Alarum expects to release fully reviewed financial statements for the first quarter of 2024 on or before May 31, 2024.

Posted In: ALAR