Q3 2024 Radware Ltd Earnings Call Transcript
Key Points
- Radware Ltd (RDWR) reported a 13% year-over-year revenue growth, exceeding their guidance.
- The company achieved a substantial increase in non-GAAP EPS, delivering earnings of $0.23 per share, more than triple the EPS recorded in the third quarter of 2023.
- Radware Ltd (RDWR)'s cloud security business continues to grow, with a record number of new cloud customers and a 15% year-over-year growth in cloud ARR.
- The company saw significant strength in its security product subscription, driven by the DefensePro X refresh.
- Radware Ltd (RDWR) was recognized as a technology leader in the SPARK Matrix analysis for the web application firewall market for the fourth consecutive year.
- APAC revenue decreased by 5% year-over-year, accounting for 24% of total revenue.
- The Americas region showed a decrease in revenue on a 12-month trailing basis, with a 1% year-over-year decline.
- Service provider spending in North America was weak, impacting overall performance in the region.
- Despite strong results, the company faces challenges from the cautious spending behavior of customers due to the challenging economic environment.
- Radware Ltd (RDWR) anticipates needing to increase investment in sales and marketing to sustain growth, which may impact short-term profitability.
Welcome to the Radware Conference Call Discussing Third-Quarter, 2024 Results and thank you all for holding. As a reminder, this conference is being recorded, October 31, 2024. I would now like to turn this call over to Yisca Erez, Director Investor Relations at Radware. Please go ahead.
Thank you, Operator. Good morning, everyone and welcome to Radware third quarter, 2024 Earnings Conference Call. Joining me today are Roy Zisapel, President and Chief Executive Officer and Guy Avidan, Chief Financial Officer.
A copy of today's press release and financial statements as well as the Investor kit for the third quarter are available in the Investor Relations section of our website. During today's call we may make projections or other forward-looking statements regarding future events or the future financial performance of the company.
The forward looking statements are subject to various risks and uncertainties and actual results could differ materially from current forecast and estimates.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
