Business
RADCOM Reports First Quarter 2022 Results
Wins two new customers logos for 5G TEL AVIV, Israel, May 12, 2022 /PRNewswire/ -- RADCOM Ltd. (Nasdaq: RDCM) today reported its financial results for the
About this update from Radcom Ltd.
[{"type":"text","content":"Wins two new customers logos for 5G\n TEL AVIV, Israel, May 12, 2022 /PRNewswire/ -- RADCOM Ltd. (Nasdaq: RDCM) today reported its financial results for the first quarter ended March 31, 2022.\nFirst Quarter 2022 Financial Highlights:\nFirst quarter revenues of $10.6 million, 16% year-over-year growth 11th consecutive quarter of year-over-year growth As of March 31, 2022, the Company had cash and cash equivalents and short-term bank deposits of $70.9 million and no debt. Increases 2022 revenue guidance range from $42 million-$45 million to $43 million-$47 millionCommenting on the results and recent announcements, Eyal Harari, RADCOM's Chief Executive Officer, said, \"we are excited that DISH selected RADCOM to monitor America's first 5G Smart Network. This win continues the positive momentum since the start of 2022 and is the second new 5G customer win that brings us to a total of $5O million in new contracts this year.\n\"With our recent wins and ongoing sales engagements, we have greater visibility into the second half of 2022. As a result, we are optimistic about our ability to deliver a growth year above our initial revenue guidance provided in February. Therefore, we are updating our full-year 2022 revenue guidance from $42 million-$45 million to $43 million-$47 million.\"\nHighlights of Recent Contract Wins:\nDISH Wireless selected RADCOM to monitor America's First 5G Smart Network™. This new 5G assurance contract provides DISH with our innovative cloud-native solution – RADCOM ACE – which is an additional order for standalone 5G and the first to be fully deployed on the public cloud. DISH needed an assurance market leader that runs on Amazon Web Services (AWS) to help launch 5G smoothly and monitor the service quality across its nationwide deployment. RADCOM won a multi-year 5G assurance contract with a mobile network in Europe. For this new contract, our solution will provide impartial, end-to-end visibility that helps network engineers make real-time, data-driven decisions and proactively improve service, ensuring unparalleled focus is on the quality delivered to customers. AT&T renewed its multi-year assurance contract with RADCOM. We continue delivering cutting-edge software releases and supporting the evolution of their network to the cloud with our cloud-based assurance solution that is highly scalable and efficient...