Business
RADCOM Reports Second Quarter 2020 Results
TEL AVIV, Israel, Aug. 11, 2020 /PRNewswire/ -- Second quarter revenues of $9.2 million Cash, cash equivalents and short-term bank deposits of $66 million and
About this update from Radcom Ltd.
[{"type":"text","content":"TEL AVIV, Israel, Aug. 11, 2020 /PRNewswire/ -- \nSecond quarter revenues of $9.2 million Cash, cash equivalents and short-term bank deposits of $66 million and no debt Reiterating 2020 revenue guidance range of $35-$38 millionRADCOM Ltd. (Nasdaq: RDCM) today reported its financial results for the second quarter ended June 30, 2020. \n\"We are pleased by our second quarter performance, which was in line with our full-year growth plans as we increased revenues, and improved our bottom line while continuing to invest in R&D,\" commented Eyal Harari, RADCOM's CEO. \"Despite the challenges of COVID-19, we were able to further our technological capabilities for 5G while following regional health guidelines to keep our employees and customers safe. At the same time, the telecom industry continued to move forward with 5G rollouts.\" \n\"We were excited to announce last week the launch of RADCOM ACE – our Automated, Containerized, End-To-End assurance solution for 5G networks. This product launch is the culmination of research and development investments made over the last few years and our virtualization expertise, which we gained through working with leading operators worldwide. RADCOM ACE enables operators to integrate assurance into their cloud platforms and automate 5G network operations using artificial intelligence (AI)-driven insights. As 5G implementations continue, operators will need real-time, customer-centric insights of the network, which will require operators to upgrade their existing service assurance solutions to cloud-native offerings that are designed from the ground up for 5G networks. To that end, RADCOM ACE is already being trialed at some of the most advanced cloud-native networks worldwide.\"\n\"We believe that RADCOM is well-positioned to take advantage of 5G opportunities as the market evolves, and more operators migrate their networks to 5G. We believe that our strong cash position and balance sheet enable us to continue growing and investing in our innovative solutions, despite the uncertainty caused by the COVID-19 pandemic. Based on the current industry conditions and our visibility, we are reiterating our full-year 2020 revenue guidance range of $35 million to $38 million.\"\nSecond Quarter 2020 Financial Highlights:\nTotal revenues for the second quarter were $9.2 million, compared to $8.5 million in the...