Condensed Consolidated Statements of Financial Position (in thousands of U.S.dollars) September 30, December 31, 2024 2023 2023 (Unaudited) (Audited) Assets Current assets: Cash and cash equivalents 24,011 7,741 10,872 Trade receivables, net 2,474 1,862 1,994 Other receivables 498 434 399 26,983 10,037 13,265 Non-current assets: Long-term deposits 103 99 104 Other non-current assets 85 170 145 Property and equipment, net 129 80 88 Right-of-use assets 568 841 779 Deferred tax assets 339 202 181 Goodwill 4,118 4,118 4,118 Intangible assets, net 946 1,547 1,386 Total non-current assets 6,288 7,057 6,801 Total assets 33,271 17,094 20,066 Liabilities and equity Current liabilities: Trade payables 439 498 369 Other payables 3,714 1,978 2,439 Current maturities of long-term loan 855 469 290 Contract liabilities 2,293 1,545 1,983 Derivative financial instruments 224 2 109 Short-term lease liabilities 358 351 370 Total current liabilities 7,883 4,843 5,560 Non-current liabilities: Long-term loans 82 733 802 Long-term lease liabilities 332 573 523 Total non-current liabilities 414 1,306 1,325 Total liabilities 8,297 6,149 6,885 Equity: Ordinary shares - - - Share premium 111,607 99,875 100,576 Other equity reserves 10,362 15,075 14,938 Accumulated deficit (96,995) (104,005) (102,333)Total equity 24,974 10,945 13,181 Total liabilities and equity 33,271 17,094 20,066 Condensed Consolidated Statements of Profit or Loss(in thousands of U.S.dollars, except per share amounts) For theNine Months EndedSeptember 30, For theThree Months EndedSeptember 30, For theYear EndedDecember 31, 2024 2023 2024 2023 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) Continuing operations Revenue 24,454 19,414 7,194 6,750 26,521 Cost of revenue 5,883 5,933 2,029 1,543 7,711 Gross profit 18,571 13,481 5,165 5,207 18,810 Operating expenses: Research and development 3,285 2,762 1,142 814 3,557 Sales and marketing 5,045 8,456 1,673 1,984 10,035 General and administrative 3,912 3,199 1,286 913 4,406 Impairment of goodwill - 6,311 - - 6,311 Total operating expenses 12,242 20,728 4,101 3,711 24,309 Operating profit (loss) 6,329 (7,247) 1,064 1,496 (5,499) Finance income (expense), net 118 (536) 3,463 (652) (590)Profit (loss) from continuing operations before income tax 6,447 (7,783) 4,527 844 (6,089)Tax benefit (expense) (1,109) 504 (278) 266 482 Profit (loss) from continuing operations, net of income tax 5,338 (7,279) 4,249 1,110 (5,607)Profit from discontinued operations, net of income tax - 82 - 82 82 Net profit (loss) for the period 5,338 (7,197) 4,249 1,192 (5,525) Basic profit (loss) per share: Continuing operations $0.08 (0.20) 0.06 0.03 $(0.14) Discontinued operations - * - * * $0.08 (0.20) 0.06 0.03 $(0.14) Diluted profit (loss) per share: Continuing operations $0.07 (0.20) 0.06 0.03 $(0.14) Discontinued operations - * - * * $0.07 (0.20) 0.06 0.03 $(0.14) Basic profit (loss) per ADS: Continuing operations $0.80 (2.05) 0.60 0.28 $(1.35) Discontinued operations - 0.02 - 0.02 * $0.80 (2.03) 0.60 0.30 $(1.35) * Less than $0.01 Use of Non-IFRS Financial Results In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, this press release contains non-IFRS financial measures of EBITDA (EBITDA loss), Adjusted EBITDA (Adjusted EBITDA loss), non-IFRS net profit (loss), non-IFRS gross profit, non-IFRS gross margin and non-IFRS basic earnings (loss) per share or ADS for the periods presented.
Non-IFRS Financial Measures (in millions of U.S.dollars, rounded) The following tables present the reconciled effect of the above on the Company’s Adjusted EBITDA (EBITDA loss); non-IFRS net profit (loss); and non-IFRS gross profit for the nine and three months ended September 30, 2024 and 2023, and for the year ended December 31, 2023: For theNine Months EndedSeptember 30, For theThree Months EndedSeptember 30, For theYearEndedDecember 31, 2024 2023 2024 2023 2023 Net profit (loss) from continuing operations 5.3 (7.3) 4.2 1.1 (5.6)Adjustments: Depreciation, amortization and impairment of intangible assets 0.5 3.4 0.2 0.4 3.5 Finance expense (income), net (0.1) 0.5 (3.5) 0.7 0.6 Tax expense (benefit) 1.1 (0.5) 0.3 (0.3) (0.5)EBITDA (EBITDA loss) 6.8 (3.9) 1.2 1.9 (2.0)Adjustments: Impairment of goodwill - 6.3 - - 6.3 Share-based compensation 1.1 0.6 0.2 * 0.9 Adjusted EBITDA for the period 7.9 3.0 1.4 1.9 5.2 * Less than $0.1 million For theNine Months EndedSeptember 30, For theThree Months EndedSeptember 30, For theYear EndedDecember 31, 2024 2023 2024 2023 2023Net profit (loss) from continuing operations 5.3 (7.3) 4.2 1.1 (5.6)Adjustments: Depreciation, amortization and impairment of intangible assets 0.5 3.4 0.2 0.4 3.5 Finance expense (income), net effects 0.2 * (3.2) (0.1) 0.1 Deferred tax effects (0.1) (0.5) * (0.3) (0.5)Impairment of goodwill - 6.3 - - 6.3 Share-based compensation 1.1 0.6 0.2 * 0.9 Non-IFRS net profit for the period 7.0 2.5 1.4 1.1 4.7 * Less than $0.1 million For theNine Months EndedSeptember 30, For theThree Months EndedSeptember 30, For theYear EndedDecember 31, 2024 2023 2024 2023 2023 Gross profit from continuing operations 18.6 13.5 5.2 5.2 18.8 Adjustments: Depreciation, amortization and impairment of intangible assets 0.4 0.7 0.1 0.2 0.9 Share-based compensation * * * * * Non-IFRS gross profit for the period 19.0 14.2 5.3 5.4 19.7 * Less than $0.1 million About Alarum Technologies Ltd.Alarum Technologies Ltd.(Nasdaq, TASE: ALAR) is a global provider of internet access and web data collection solutions.
A growing pipeline of opportunities has emerged for the Website Unblocker, which has been tested and rated by industry experts as the best on the marketNet Retention Rate ("NRR”)2 reached 1.42 as of September 30, 2024 Summary of Financial Results3(in millions of U.S.dollars, rounded, except per share amounts and margins) For theNine Months EndedSeptember 30, For theThree Months EndedSeptember 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Total Revenue 24.5 19.4 7.2 6.7 of which, NetNut Revenue was 23.7 14.5 7.0 6.1 Gross profit 18.6 13.5 5.2 5.2 Gross margin (in percentage) 75.9% 69.4 % 71.8 % 77.1 %Non-IFRS gross margin (in percentage) 77.7% 73.2 % 73.6 % 79.4 %Total operating expenses 12.2 20.7 4.1 3.7 Finance income (expense), net 0.1 (0.5) 3.5 (0.7)Tax benefit (expense) (1.1) 0.5 (0.3) 0.3 Net profit (loss) from continuing operations 5.3 (7.3) 4.2 1.1 Adjusted EBITDA from continuing operations 7.9 3.0 1.4 1.9 Basic earnings (loss) per ADS from continuing operations (in U.S.dollars) $0.80 $(2.05) $0.60 $0.28 Non-IFRS basic earnings per ADS from continuing operations (in U.S.dollars) $1.05 $0.69 $0.20 $0.25 Cash, cash equivalents4 24.0 7.7 24.0 7.7 Shareholders’ equity4 25.0 10.9 25.0 10.9 Third Quarter and First Nine Months 2024 Financial Analysis Q3 2024 revenues grew 7% year-over-year to $7.2 million (Q3 2023: $6.7 million).
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