MAHWAH, N.J., Nov. 19, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today launched its AI SOC Xpert. The new cloud security service redefines how modern security operation centers (SOCs) manage DDoS and application security incidents, leveraging AI-based technology to drastically cut mean time to resolution (MTTR) by up to 95%. Designed to instantly resolve incidents, the innovative technology provides SOC team ...

MAHWAH, N.J., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it has expanded its customer relationship with a prominent U.S. based communications platform as a service (CPaaS) provider. As part of a multimillion-dollar deal, the CPaaS provider purchased Radware’s hybrid Cloud DDoS Protection Services, Cloud Firewall as a Service (FWaaS), and Network Analytics. The new services add to the ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 reached $69.5 million, up from $61.6 million in the same period last year, representing a 13% year-over-year growth [18] - Non-GAAP EPS for Q3 2024 was $0.23, more than triple the EPS recorded in Q3 2023 [5][22] - Total ARR increased by 9% year-over-year to $223.6 million, with cloud ARR rising 15% to $71.6 million [18] - Gross margin in Q3 2024 was 82.3%, an expansion of 120 basis points from Q3 2023 [20] - Net income in Q3 2024 more than tripled to $10.2 million compared to $2.9 million in the same period last year [22] Business Line Data and Key Metrics Changes - Cloud security business grew with a record number of new cloud customers, contributing to 15% year-over-year growth in cloud ARR [6] - Total subscription revenue grew double-digits and now accounts for 47% of total revenue [8] - Significant strength in security product subscriptions driven by the DefensePro X refresh [8] Market Data and Key Metrics Changes - Revenue in the Americas grew 11% year-over-year to $27.7 million, accounting for 40% of total revenue [19] - EMEA revenue increased 30% year-over-year to $25.2 million, accounting for 36% of total revenue [19] - APAC revenue was $16.6 million, representing a decrease of 5% year-over-year [19] Company Strategy and Development Direction - The company is focused on accelerating growth in cloud security by expanding its channel and global cloud security network [6] - Strategic initiatives include broadening the cloud security platform and launching new services like Threat Intelligence Service and AI SOC expert for DDoS services [13][14] - The company aims to strengthen sales and marketing capabilities to capture market share in high-growth areas [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future despite a challenging economic environment and cautious spending behavior from customers [5] - The company expects total revenue for Q4 2024 to be in the range of $71 million to $72 million [24] - Management highlighted the potential for growth in North America, particularly in the security MSSP and 5G deployment sectors [34] Other Important Information - The company ended Q3 2024 with approximately $412 million in cash, cash equivalents, bank deposits, and marketable securities [23] - Adjusted EBITDA for Q3 increased to $9.2 million compared to $1.6 million in the same period last year [22] Q&A Session Summary Question: Inquiry about DefensePro X upgrade and current shipments - Management indicated that the migration to DefensePro X is a process, especially with large customers, and noted significant advantages in security with the new platform [26] Question: Clarification on subscription revenue percentage - Management confirmed that 47% of total revenues in Q3 were from subscriptions, with 46% year-to-date [31] Question: Discussion on EMEA market performance - Management expressed satisfaction with EMEA performance, highlighting strong cloud deals and cooperation with partners like Cisco and Check Point [32] Question: Concerns about softer performance in the Americas - Management acknowledged weaker service provider spending in North America but maintained high expectations for future growth [34]

Radware (RDWR) came out with quarterly earnings of $0.23 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15%. A quarter ago, it was expected that this network management software maker would post earnings of $0.17 per share when it actually produced earnings of $0.20, delivering a surprise of 17.65%.Over the last four quarter ...

Exhibit 99.1 Radware Reports Third Quarter 2024 Financial Results Third Quarter 2024 Financial Results and Highlights TEL AVIV, Israel, October 31, 2024 - Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced its consolidated financial results for the third quarter ended September 30, 2024. "We are pleased to report solid third-quarter results, highlighted by 13% year-over-year revenue growth and a significant improvement in profitability and cash ...

Third Quarter 2024 Financial Results and Highlights Revenue of $69.5 million, an increase of 13% year-over-year Cloud ARR of $71.6 million, an increase of 15% year-over-year Non-GAAP diluted EPS of $0.23 vs. $0.07 in Q3 2023; GAAP diluted EPS of $0.07 vs. $(0.16) in Q3 2023 Cash flow from operations of $14.7 million and $58.9 million year-to-date TEL AVIV, Israel, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announc ...

TEL AVIV, Israel, Oct. 14, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced the results of its Annual General Meeting of Shareholders held October 10, 2024. The Company presented three proposals for the shareholders to vote on at the meeting, of which one proposal (to approve grants of equity-based awards to the President and Chief Executive Officer of the Company) was not adopted by the requisite s ...

MAHWAH, N.J., Oct. 03, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today introduced a new Threat Intelligence Service designed to help security operation center (SOC) teams, threat researchers, and incident responders enhance threat detection, identify compromised systems, and ultimately lower MTTR. The service, which is an expansion of Radware's cloud security platform, offers them unique, real-time intellige ...

TEL AVIV, Israel, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, will announce its third quarter 2024 financial results on Thursday, October 31, 2024. Conference Call Details Radware management will host a call on Thursday, October 31, 2024, at 8:30 a.m. EDT to discuss its third quarter 2024 results and outlook for the fourth quarter of 2024. Participants are advised to join the call approximately 15 min ...

MAHWAH, N.J., Sept. 18, 2024 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced it closed a multimillion-dollar expansion deal with a leading European stock exchange. The multinational leader upgraded its Radware DDoS Protection Services to include Radware's recently released DefensePro® X and Cyber Controller as well as its Emergency Response Team (ERT) managed services. The international financial exchan ...