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Can Allot's Strong SECaaS Momentum Fuel Continued ARR Growth?

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Key Takeaways

  • ALLT's SECaaS ARR grew roughly 60% year over year in Q3 2025, driven by telecom partner adoption.
  • SECaaS accounted for about 28% of revenues, while recurring revenues rose to 63% of total sales.
  • New offerings and upselling to existing telecom customers are supporting continued ARR expansion.

Allot Ltd. (ALLT - Free Report) is seeing steady progress in its Cybersecurity-as-a-Service (SECaaS) business, which is becoming the company’s main growth driver. In the third quarter of 2025, SECaaS’ annual recurring revenue (ARR) increased about 60% year over year. The growth was primarily driven by higher adoption from telecom partners and more end users signing up for security services.

Furthermore, SECaaS made up around 28% of Allot’s total revenues in the third quarter. Looking ahead, management expects this share to move closer to 30% if current trends continue, which bodes well for the company's prospects in the upcoming quarters. This is crucial because SECaaS is a subscription-based offering, which makes revenues more predictable. Recurring revenues accounted for 63% of total revenues in the third quarter compared with 58% a year ago, showing a gradual improvement in revenue quality.

During the third quarter earnings call, management outlined a few clear drivers behind SECaaS growth. Large Tier-1 telecom customers that launched services in recent quarters are continuing to add new subscribers, which is driving demand for Allot’s solutions. Existing customers are also buying additional services over time, which supports upselling. Allot is also introducing new offerings, such as OffNetSecure, which allows protection even when users are off the operator’s network. This broadens the use of SECaaS and could help increase revenue per user over time.

If telecom partners continue to scale these services and user adoption remains steady, SECaaS momentum could continue to support ALLT’s ARR growth in the coming quarters. The Zacks Consensus Estimate for 2025 and 2026 indicates revenue growth of around 10.3% and 13.3%, respectively.

How Competitors Fare Against ALLT

Companies like Cisco Systems (CSCO - Free Report) and F5 (FFIV - Free Report) compete with Allot mainly in network traffic management and security.

Cisco Systems competes with Allot through its broad networking and security portfolio. Cisco Systems offers advanced traffic analytics, network visibility, and security tools that help telecom and Internet service providers manage and secure their networks.

In October 2025, Cisco Systems collaborated with NVIDIA to introduce the world’s first AI-native wireless network stack designed for future 6G networks for the telecom sector. This collaboration is aimed at helping telecom operators use AI in mobile networks, starting with advanced 5G services and preparing for next-generation connectivity, creating a clear and smoother path toward next-generation wireless services.

F5 competes with Allot through its application delivery and security solutions. F5 offers BIG-IP Next CNF 2.0, a cloud-native networking product, which is designed to run fully on Kubernetes and helps telecom companies, Internet service providers, cloud providers, and large enterprises manage heavy network traffic in a more efficient and secure way.

ALLT’s Price Performance, Valuation and Estimates

Shares of Allot have lost 4.2% in the past three months against the Zacks Internet - Software industry’s decline of 11.3%.

ALLT 3-Month Price Return Performance

Zacks Investment Research
Image Source: Zacks Investment Research

From a valuation standpoint, Allot trades at a forward price-to-sales ratio of 4.05 lower than the industry’s average of 4.7.

ALLT Forward 12-Month P/S Ratio

Zacks Investment Research
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Allot’s full year 2026 earnings implies a year-over-year increase of 15.9%. The estimates for full-year 2026 have been revised upward by a penny over the past 60 days.

Zacks Investment Research
Image Source: Zacks Investment Research

Allot currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.


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