Alarum Technologies Ltd. Files 2023 Annual Report on Form 20-F

TL;DR

<b>Alarum Technologies Ltd. submitted its 2023 annual report, detailing share structure and confirming its Nasdaq listing.</b>

AI Summary

Alarum Technologies Ltd. (ALAR) filed a Foreign Annual Report (20-F) with the SEC on March 14, 2024. Alarum Technologies Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company's ordinary shares are listed on the Nasdaq Capital Market under the ticker symbol ALAR. As of December 31, 2023, Alarum Technologies Ltd. had 59,681,632 ordinary shares outstanding. The filing confirms the company is not a well-known seasoned issuer. Alarum Technologies Ltd. was formerly known as Safe-T Group Ltd., with a name change effective December 13, 2017.

Why It Matters

For investors and stakeholders tracking Alarum Technologies Ltd., this filing contains several important signals. This filing provides investors with the company's official year-end financial and operational overview, crucial for assessing performance and future prospects. The confirmation of outstanding share count is vital for calculating market capitalization and understanding potential dilution.

Risk Assessment

Risk Level: low — Alarum Technologies Ltd. shows low risk based on this filing. The filing is a routine annual report and does not contain new material information that would significantly alter the risk profile.

Analyst Insight

Review the full 20-F filing for detailed financial statements and management discussion to understand the company's performance and outlook.

Key Numbers

• 59,681,632 — Ordinary Shares Outstanding (As of December 31, 2023.)
• 20231231 — Fiscal Year End (Period covered by the annual report.)
• 20240314 — Filing Date (Date the 20-F was filed.)
• 001-38610 — SEC File Number (Commission file number for Alarum Technologies Ltd.)

Key Players & Entities

• Alarum Technologies Ltd. (company) — Filer of the 20-F report.
• ALAR (company) — Trading symbol for Alarum Technologies Ltd. on Nasdaq.
• Nasdaq Capital Market (company) — Exchange where ALAR is listed.
• Safe-T Group Ltd. (company) — Former name of Alarum Technologies Ltd.
• Shachar Daniel (person) — Chief Executive Officer of Alarum Technologies Ltd.

FAQ

Industry Context

Alarum Technologies Ltd. operates in the software services industry, specifically prepackaged software.

Regulatory Implications

The company is incorporated in Israel and files reports with the U.S. Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full Form 20-F for detailed financial statements and disclosures.
2. Analyze the company's operational and financial performance for the fiscal year 2023.
3. Monitor future filings for updates on business strategy and financial results.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended December 31, 2023, providing an update from the previous year's filings.

Filing Documents

• ea0201426-20f_alarum.htm (20-F) — 2268KB
• ea020142601ex2-2_alarumtech.htm (EX-2.2) — 69KB
• ea020142601ex4-3_alarumtech.htm (EX-4.3) — 265KB
• ea020142601ex8-1_alarumtech.htm (EX-8.1) — 5KB
• ea020142601ex12-1_alarumtech.htm (EX-12.1) — 10KB
• ea020142601ex12-2_alarumtech.htm (EX-12.2) — 10KB
• ea020142601ex13-1_alarumtech.htm (EX-13.1) — 3KB
• ea020142601ex13-2_alarumtech.htm (EX-13.2) — 3KB
• ea020142601ex15-1_alarumtech.htm (EX-15.1) — 5KB
• ea020142601ex97-1_alarumtech.htm (EX-97.1) — 46KB
• image_001.jpg (GRAPHIC) — 10KB
• image_002.jpg (GRAPHIC) — 67KB
• 0001213900-24-022367.txt (&nbsp;) — 10493KB
• alar-20231231.xsd (EX-101.SCH) — 131KB
• alar-20231231_cal.xml (EX-101.CAL) — 72KB
• alar-20231231_def.xml (EX-101.DEF) — 432KB
• alar-20231231_lab.xml (EX-101.LAB) — 834KB
• alar-20231231_pre.xml (EX-101.PRE) — 455KB
• ea0201426-20f_alarum_htm.xml (XML) — 1488KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company. Yes No TABLE OF CONTENTS Page INTRODUCTION iii CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS iv Summary Risk Factors v PART I ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS. 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE. 1 ITEM 3. KEY INFORMATION. 1 A. [Reserved.] 1 B. Capitalization and Indebtedness. 1 C. Reasons for the Offer and Use of Proceeds. 1 D. Risk Factors. 1 ITEM 4. INFORMATION ON THE COMPANY. 27 A. History and Development of the Company. 27 B. Business Overview. 27 C. Organizational Structure. 38 D. Property, Plant and Equipment. 38 ITEM 4A. UNRESOLVED STAFF COMMENTS. 38 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS. 38 A. Operating Results. 41 B. Liquidity and Capital Resources. 45 C. Research and Development, Patents and Licenses, etc. 48 D. Trend Information. 48 E. Critical Accounting Estimates. 49 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES. 50 A. Directors and Senior Management. 50 B. Compensation. 52 C. Board Practices. 54 D. Employees. 67 E. Share Ownership. 67 F. Disclosure of a Registrant's Action to Recover Erroneously Awarded Compensation. 69 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS. 70 A. Major Shareholders. 70 B. Related Party Transactions. 71 C. Interests of Experts and Counsel. 71 ITEM 8. FINANCIAL INFORMATION. 71 A. Consolidated Statements and Other Financial Information. 71 B. Significant Changes. 72 ITEM 9. THE OFFER AND LISTING. 72 A. Offer and Listing Details. 72 B. Plan of Distribution. 72 C. Markets. 72 D. Selling Shareholders. 72 E. Dilution. 72 F. Expenses of the Issue. 72 ITEM 10. ADDITIONAL INFORMATION. 72 A. Share Capital. 72 B. Memorandum and Articles of Association. 72 C.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK. 82 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES. 83 A. Debt Securities. 83 B. Warrants and Rights. 83 C. Other Securities. 83 D. American Depositary Shares. 83 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES. 85 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS. 85 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES. 85 ITEM 16. [Reserved]. 86 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT. 86 ITEM 16B. CODE OF ETHICS. 86 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES. 86 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES. 87 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS. 87 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT. 87 ITEM 16G. CORPORATE GOVERNANCE. 87 ITEM 16H. MINE SAFETY DISCLOSURE. 89 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS. 89 ITEM 16J. INSIDER TRADING POLICIES 89 ITEM 16K. CYBERSECURITY 89 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS. 91 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS. 91 ITEM 19. EXHIBITS. 91

SIGNATURES

SIGNATURES 93 ii INTRODUCTION We are a global internet access and web data collection provider. We operate in two distinct segments, providing solutions according to specific needs. The segments include enterprise internet access and web data collection solutions, which is our main segment, and consumer internet access solutions and services. Our enterprise internet access and web data collection segment offers a global web data collection cloud service, based on our proprietary proxy traffic optimization and routing technology, and built on partnership agreements with tens of Internet Service Providers, or ISPs, and with application publishers. Our service allows organizations to collect vast amounts of web and internet data by simultaneously connecting to the internet from different IP addresses while maintaining full anonymity and privacy. Our customers can choose from various types of Internet Protocol addresses, or IPs, from our IP pool which contains millions of IPs, including ISP IPs, data center IPs and residential service provider IPs. With our web data collection service, organizations can collect accurate, transparent web data from public online sources. The solution also allows access to undiscovered data from non-traditional data sources and allows customers to gain additional data-driven information that provides valuable insights with respect to predictive capabilities or behaviors, thereby assisting ongoing business management operation and decision making. An added benefit to our customers is the fact that utilizing our network completely hides enterprises from the internet by modifying IP addresses, thus ensuring high levels of privacy for their online presence. Our internet access solutions for consumers provide a powerful, secured and encrypted connection, masking consumers' online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring complete protection for all personal and digi

Forward-looking statements are not guarantees

Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause actual results, developments, and business decisions to differ materially from those anticipated in these forward-looking statements include, among other things: our planned level of revenues and capital expenditures; our ability to market and sell our products; our plans to continue to invest in research and development to develop technology for both existing and new products; our ability to maintain our relationships with partners and customers; our ability to maintain or protect the validity of our European, U.S. and other patents and other intellectual property; our ability to launch and penetrate markets in new locations, including taking steps to expand our worldwide activities and to enter into engagements with new business partners in those markets; our intention to increase marketing and sales activities; our intention to establish partnerships with industry leaders; our ability to locate additional funding available to us on acceptable terms; our ability to retain professional employees and executive members; our ability to internally develop new inventions and intellectual property; our expectations regarding future changes in our cost of revenues and our operating expenses; our expectations regarding our tax classifications; interpretations of current laws and the passages of future laws and/or regulations; our ability to continue to effectively comply with the requirements of Nasdaq; the potential impact of litigation; iv acceptance of our business model and performance by investors; general market, polit

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION A. [Reserved.] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors You should carefully consider the risks described below, together with all of the other information in this annual report on Form 20-F. The risks described below are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially and adversely affect our business operations. If any of these risks actually occurs, our business and financial condition could suffer and the price of our ADSs could decline. Risks Related to Our Business and Industry The internet access markets are rapidly evolving within the increasingly challenging landscape. If the industry does not continue to develop as we anticipate, our sales will not grow as quickly as expected and our share price could decline. We operate in a rapidly evolving industry focused on providing organizations and consumers with internet access solutions. We experience intense competition from smaller new players and need to constantly adapt our solutions to the new technologies and growing and constantly changing challenges. It is therefore difficult to predict how large the markets will be for our solutions. If solutions such as ours are not viewed by organizations as necessary, or if business or consumer customers do not recognize the benefit of our solution as a critical layer of an effective security strategy, then our revenues may not grow as quickly as expected, or may decline, and our share price could suffer. We are engaged in on-going development of our current and future products. Our research and development efforts may not produce successful products or enhancements to our solution that result in significant revenue or other benefits in the near future, if at all. We expect to continue to dedicate significant financial and other resour

View Full Filing

View this 20-F filing on SEC EDGAR