Q4 2024 Radware Ltd Earnings Call Transcript
Key Points
- Radware Ltd (RDWR) reported a strong finish to 2024, with both top and bottom lines exceeding fourth-quarter guidance.
- The company achieved 12% year-over-year revenue growth and more than doubled its non-GAAP earnings per share.
- Cloud security business was a key growth driver, with cloud ARR growth accelerating to 19% in Q4 2024.
- Radware Ltd (RDWR) plans to increase investment in cloud security, aiming to exceed a 20% ARR growth rate and establish a $100 million ARR cloud security business by the end of 2025.
- Strong partnerships with OEMs like Cisco and Check Point contributed to double-digit growth in OEM bookings, setting a new annual record.
- EMEA region experienced a 6% year-over-year decline in Q4 revenue, contributing to a 2% decline for the full year.
- Despite strong performance in the Americas, there is cautious spending by large enterprise customers globally.
- The competitive environment remains challenging with strong competitors like Cloudflare and Akamai.
- Radware Ltd (RDWR) plans to increase R&D investment, which may impact operating expenses.
- The company is still in the early stages of refreshing its DefensePro X product line, indicating potential delays in realizing full growth opportunities.
Welcome to the Radware conference call discussing fourth quarter and full-year 2024 results. (Operator Instructions)
As a reminder, this is being recorded, February 12, 2025. I would now like to turn the call over to Yisca Erez, Director, Investor Relations at Radware. Please go ahead.
Thank you, operator. Good morning, everyone, and welcome to Radware's fourth quarter and full-year 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 fourth quarter are available in the Investor Relations sector 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. These forward-looking statements are subject to various risks and uncertainties, and actual results could differ materially from Radware's
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