LOS ANGELES, Jan. 17, 2024 (GLOBE NEWSWIRE) -- via IBN -- Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of internet access and web data collection solutions, today announces that it has been featured in a broadcast via NetworkNewsAudio (“NNA”), a solution that delivers additional visibility, recognition and brand awareness in the investment community via distribution to thousands of syndication points. The audio news release covers the recent announcement that the Company anticipates reporting record revenue and operating cashflow for the fourth quarter of 2023.
To hear the audio production, visit: https://www.nnw.fm/l0CTn
To read the original press release, visit: https://www.nnw.fm/W9zk8
The Company estimates that $2.8 million in cashflow from operating activities was generated for the fourth quarter of 2023, compared to a negative cashflow of approximately $1.8 million for the same period a year earlier. With total expected revenue for last year estimated at $26.5 million, Alarum anticipates reporting an increase of approximately 41% compared to the total revenue of 2022. Furthermore, it was reported that the cash and cash equivalents balance was approximately $10.8 million as of December 31, 2023. In addition, Alarum estimates that NetNut, its wholly owned subsidiary, will see 2023 annual revenue ramp up to a record of more than $21 million, an increase of 150% compared to full year 2022.
"Alarum is pleased to start 2024 with a strong growth momentum, following the year 2023. We intend to continue supporting our future growth also by expanding our offering in the data collection market and launch new innovative products," Shachar Daniel, Chief Executive Officer of Alarum, stated in the news release.
"The amazing results we achieved in the fourth quarter of 2023 emphasize the positive impact advanced by the strategic business changes we implemented during 2023, which are fostering growth and success. Following our decision to focus on improved profitability and reduce investments in the consumer segment, we anticipated that most of our fourth-quarter revenues will be generated by NetNut. These revenues alone surpass the combined revenue of both NetNut and consumer segments from previous periods," Daniel added. "During the fourth quarter, we also increased our cashflow from operating activities and continued our focus on being a profitable growth company."
The fully reviewed financial statements for the fourth quarter and full year 2023 are expected to be released on or before March 31, 2024.
About Alarum Technologies Ltd.
Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of internet access and web data collection solutions. The solutions by NetNut, our Enterprise Internet Access arm, are based on our world’s fastest and most advanced and secured hybrid proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
For more information about Alarum, please visit www.alarum.io
About NetworkNewsAudio
NetworkNewsAudio (“NNA”), one of 50+ brands within IBN (InvestorBrandNetwork), allows you to sit back and listen to market updates, CEO interviews and AudioPressRelease (“APR”) productions. These audio clips provide snapshots of position, opportunity and momentum. NNA can assist by cutting through the overload of information in today's market, while bringing its clients unparalleled visibility, recognition and brand awareness. IBN is where news, content and information converge. IBN is a comprehensive provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, IBN has the unparalleled ability to reach a wide audience of investors, consumers, journalists and the general public with an ever-growing distribution network of 5,000+ key syndication outlets across the nation.
For more information, visit: www.NetworkNewsAudio.com
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws and the Israeli securities law. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Alarum is using forward-looking statements in this press release when it discusses potential profitability, its preliminary unaudited results for the fourth quarter and the year ended December 31, 2023, the expected positive cashflow from operating activities and that the above mentioned preliminary unaudited results are highlighting continued operating and business growth. Because such statements deal with future events and are based on Alarum’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alarum could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Alarum’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 31, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, Alarum undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Company is providing revenue, cashflow from operating activities and cash and cash equivalents balance estimates in this press release, rather than final amounts, primarily because the financial closing process and audit are not yet complete and, as a result, the Company’s final results upon completion of its closing process and audit may vary from these preliminary estimates.
Investor Relations
Michal Efraty
+972-(0)52-3044404
investors@alarum.io
Wire Service Contact
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
