Shares of Alarum Technologies Ltd. (ALAR) tanked over 30% on Monday morning after reporting second-quarter results.
ALAR is currently trading at $14.65, down $6.95 or 32.15%, on the Nasdaq. The stock opened its trading at $15.57 after closing Friday at $21.60. The stock has traded between $2.41 and $46.69 in the past 52-week period.
Revenues grew 27% year-over-year to $8.9 million in second quarter, compared to $7.0 million last year. The increase is attributed to the growth of the enterprise internet access business, NetNut, which increased to $8.7 million, up from $5.0 million last year.
The company reported net loss of $351 thousand or $0.05 per ADS, compared to a loss of $7.70 million or $2.26 per share last year.
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