Allot Ltd. (ALLT) Authorized For $40 Million Share Repurchase Program

Allot Ltd. (NASDAQ: ALLT ) is one of the best 11 small-cap software infrastructure stocks to buy now .

On June 23, Allot Ltd. (NASDAQ:ALLT) revealed that it received authorization from its Board regarding a share buyback program, allowing the company to repurchase up to $40 million of its ordinary shares. This repurchase program shows the Board's confidence in the company's long-run growth strategy. The Company would be able to buy back shares opportunistically while extending capital towards other growth initiatives as well.

According to Eyal Harari, Chief Executive Officer of Allot, the share repurchase program reflects favorably on the company's strategic and financial standing. He also cited consecutive quarters of growth over the past 12 months, where the company registered double-digit topline growth, along with continued improvements in its profitability and cash-generating ability. He further stated:

"We are confident in the momentum we are continuing to build. We believe repurchasing our shares is an attractive use of our excess capital, that allows us to create increased value for our shareholders, while we continue to invest in internal initiatives that will continue to drive Allot's long-term growth."

The buyback will be executed by the management from time to time, as it sees fit. It will be done through open market purchases, private negotiations, or by any other permitted methods.

Allot Ltd. (NASDAQ:ALLT) develops and sells network intelligence and security solutions for communication service providers and other enterprises. Through its Allot Secure Management platform, the company offers a comprehensive suite of end-to-end security management services. These include Allot NetworkSecure, Allot HomeSecure, Allot DNSecure, Allot BusinessSecure, and Allot Secure Cloud.

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Sinergia Empresarial continuará el seguimiento de esta información sobre allot Ltd. (ALLT) Authorized For $40 Million Share Repurchase Program y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.