Radware ( (RDWR) ) has released its Q3 earnings. Here is a breakdown of the information Radware presented to its investors.
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Radware Ltd., a prominent player in the cybersecurity and application delivery sector, specializes in providing AI-driven security solutions for multi-cloud environments, safeguarding enterprises against cyber threats like DDoS attacks and API abuse.
In its third-quarter 2024 financial results, Radware reported a significant year-over-year revenue increase of 13%, reaching $69.5 million, alongside a notable rise in profitability. The company also experienced a 15% growth in Cloud ARR, reflecting its strengthened market position and strategic advancements.
Key highlights from the report include the impressive non-GAAP diluted EPS of $0.23, a substantial increase from $0.07 the previous year, and a GAAP diluted EPS improvement to $0.07 from a loss of $(0.16) in Q3 2023. Radware’s revenue growth was driven by robust performance in the EMEA region with a 30% increase, despite a slight decline in the APAC region. Additionally, the company achieved a solid cash flow from operations totaling $14.7 million for the quarter.
The financial results underscore Radware’s successful initiatives, particularly its subscription revenue and the continued success of DefensePro X. Looking ahead, the company remains optimistic about its growth trajectory, supported by its strong financial standing and strategic focus on enhancing its cybersecurity solutions.
