Alarum Technologies Ltd. (NASDAQ:ALAR)

Alarum Technologies Ltd. (NASDAQ:ALAR) ($28.00; $180.0M market cap) announced results for Q1 2024:

•  Sales of $8.3 million vs $5.6 million in the prior year
• Non-IFRS EPS of $0.45 vs $0.03

“We are thrilled to report that NetNut's upward trajectory continues robustly, with revenues reaching an all-time high, having surged by 139%. This growth is driven by the acquisition of new customers and a strong customer retention rate (NRR), which now stands at 1.66. This demonstrates our success in not only retaining, but also significantly expanding our engagements with existing customers.”

Recall, ALAR provided some preliminary data for Q1 in early April. 

ALAR, a global provider of internet access and web data collection solutions, is one of the holdings in our newly established Artificial Intelligence Screen.

Reported Q4 2023 results:

• Sales of $7.1 million vs $5.1 million in the prior year and in line with analyst estiamtes of $7.0 million
• EPS of $0.27 vs loss of $0.48 in the prior year and in line with analyst estiamtes of $0.26

"We began 2024 on a high note, by setting new monthly revenue records," Mr. Daniel added. "Looking ahead, our strategy for 2024 involves expanding our cutting-edge product line, with a special emphasis on our advanced AI data collector series. The AI and data collection sectors complement each other significantly; it is imperative that AI platforms have access to large volumes of data. Furthermore, we aim to grow our presence in the IP proxy network (IPPN) sector by entering new markets, enhancing our network infrastructure, and partnering with more top-tier customers globally."

Chen Katz, chairman of the board of directors of Alarum, commented, "The ongoing demonstration of financial stability, growth and operating performance supported the record financial results for the quarter and entire year. We successfully crystalized and executed our business strategy, transforming into a high-growth, profitable company, which we believe will create value for our shareholders."