ALARNasdaqServices-Prepackaged SoftwareUS GAAP · USD

Alarum Technologies Ltd.

Alarum Technologies Ltd. develops web data collection and AI data infrastructure solutions through its NetNut subsidiary. Its platform combines proxy-network infrastructure, website unblocking, search-engine result collection, data collection tools, and AI-ready datasets for customers that need structured public web data at scale.

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Revenue40.8m USD
+28.1 %y/y
Operating profit (EBIT)1.7m USD
−77.3 %y/y
EBIT margin4.1%
−19.1 ppy/y
Net income1.0m USD
−83.3 %y/y
Free cash flow-2.4m USD
−127.6 %y/y

Fiscal year 2025 · change from previous year

Development 2022–2025

-200204060m USD2022: 19 m USD2022: EBIT -13 m USD20222023: 27 m USD2023: EBIT -5.7 m USD20232024: 32 m USD2024: EBIT 7.4 m USD20242025: 41 m USD2025: EBIT 1.7 m USD2025411.7
RevenueOperating profit (EBIT)
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Business

Share of revenue
Proxy and network infrastructure35 %

Residential and server-based IP infrastructure used to route and manage web traffic.

Web data collection tools30 %

Tools that help customers access, extract, and analyze public online data.

Website Unblocker and anti-bot access15 %

Software and services that bypass blocking, rate limits, and anti-bot defenses.

SERP and search data solutions10 %

Search-engine result collection and related structured data feeds.

AI data sets and training data10 %

Prepared datasets sold for LLM training, tuning, and downstream AI use cases.

Customers

Customers include foundation model labs, hyperscalers, enterprises, and other organizations that need large-scale public web data. The offering is used when internal scraping is blocked, too costly to operate, or needs to scale across many sites and geographies.

Foundation model labs

Buy datasets and collection infrastructure to support LLM training and fine-tuning.

Hyperscalers

Use web data infrastructure for AI pipelines, search, and structured data acquisition.

Enterprises

Buy web collection tools and datasets for pricing, research, and competitive intelligence.

Innovators and developers

Use proxy and collection tools to build automated data workflows and applications.

Strategy

Alarum is building a broader AI data infrastructure platform beyond its original proxy-network roots. The strategy is to combine access infrastructure, data collection software, and packaged datasets so customers can source structured web data more reliably at scale.

Broaden the product platformShort term

A wider stack increases wallet share and makes the company harder to replace.

Serve AI infrastructure demandMedium term

Model builders need scalable public-web data for training and fine-tuning.

Scale global network coverageMedium term

Broader IP and server coverage improves access rates and data collection reliability.

Geography

Alarum is a global business with infrastructure and ISP-partner servers distributed around the world. Its solutions are delivered online, so geography matters mainly through IP coverage, latency, and the ability to reach websites across multiple jurisdictions.

Risks

The business depends on access to public websites and on maintaining network infrastructure that can bypass anti-bot and blocking systems. It also faces legal, compliance, and operational risk because proxy and residential-network services can attract law-enforcement scrutiny and customer concentration can swing demand.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Network disruption from law-enforcement or domain actions1Anti-bot and website blocking escalation2Regulatory and legal scrutiny of proxy services3Customer concentration and demand variability4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Network disruption from law-enforcement or domain actionsImpact: HighLikelihood: High

    The company disclosed recent action affecting domains associated with NetNut's residential proxy network.

    Exposure: Certain network services and customer access routes

  2. Anti-bot and website blocking escalationImpact: HighLikelihood: High

    Customer value depends on collecting data from sites that actively block automated access.

    ExposureWebsite UnblockerSERPData collection products
  3. Regulatory and legal scrutiny of proxy servicesImpact: HighLikelihood: Medium

    Residential proxy networks can face compliance, privacy, and enforcement risk across jurisdictions.

    Exposure: Proxy and residential IP infrastructure

  4. Customer concentration and demand variabilityImpact: MediumLikelihood: Medium

    AI and enterprise workloads can be lumpy and concentrated among a few large buyers.

    Exposure: Revenue from large model labs and hyperscalers

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Accounting

Judgemental items
Revenue recognition

Different products may be recognized over time or at delivery depending on contract terms.

Impact: Affects reported growth and quarterly comparability

Intangible asset amortization

Software and platform investments are amortized over useful lives.

Impact: Affects operating profit and asset carrying values

Impairment testing

Technology assets and acquired intangibles must be tested if performance weakens.

Impact: Could trigger non-cash charges

Share-based compensation

Equity awards are expensed and can be material in growth-stage software businesses.

Impact: Affects operating margin and non-GAAP adjustments

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Last updated: 28/09/2026