Alarum sees Q4 revenue exceeding $7M, up 35% y/y

In the fourth quarter of 2023, the Company generated approximately $2.8 million in cashflow from operating activities, compared to a negative cashflow of approximately $1.8 million for the same period in 2022. Total expected revenue for 2023 is estimated at $26.5 million, an increase of approximately 41% compared to total revenue of $18.8 million in 2022. Cash and cash equivalents balance as of December 31, 2023, amounted to approximately $10.8 million. “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.” commented Shachar Daniel, Chief Executive Officer of Alarum. “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.”