Business
Radware Reports 17% Revenue Growth for the Third Quarter 2021
Third Quarter 2021 Results and Financial Highlights Record revenue of $73 million, up 17% year-over-year, exceeding high end of guidanceARR of $185 million,
About this update from Radware Ltd.
[{"type":"text","content":"Third Quarter 2021 Results and Financial Highlights Record revenue of $73 million, up 17% year-over-year, exceeding high end of guidanceARR of $185 million, up 9% year-over-yearNon-GAAP operating income of $11.6 million, an increase of 69% year-over-year Non-GAAP EPS of $0.23, exceeding high end of guidance; GAAP EPS of $0.10Cash flow from operations of $18 million TEL AVIV, Israel, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced its consolidated financial results for the quarter and the nine months ended September 30, 2021. “We are pleased to report another strong quarter. Driven by our cloud and subscription business, we achieved record quarterly revenue of $73 million. In addition, we saw double digit growth across key financial metrics. Compared to the same period last year, total revenue grew 17%, cloud and subscription ARR increased by 26%, and EPS rose 32%,” said Roy Zisapel, president and CEO, Radware. “The growing number of increasingly complex cyber-attacks is creating more urgency and driving more organizations to strengthen the defenses around their critical assets. We are confident that this demand, coupled with our best of breed security offering — which includes DDoS protection; Web application, API and Bot security; and cloud posture security — will fuel our growth in the coming quarters.” Financial Highlights for the Third Quarter of 2021Revenue for the third quarter of 2021 totaled $73.4 million: Revenue in the Americas region was $35.7 million for the third quarter of 2021, up 18% from $30.2 million in the third quarter of 2020.Revenue in the Europe, Middle East and Africa (“EMEA”) region was $23.6 million for the third quarter of 2021, up 29% from $18.3 million in the third quarter of 2020.Revenue in the Asia-Pacific (“APAC”) region was $14.1 million for the third quarter of 2021, up 1% from $14.0 million in the third quarter of 2020. GAAP net income for the third quarter of 2021 was $5.0 million, or $0.10 per diluted share, compared to GAAP net income of $3.6 million, or $0.08 per diluted share, for the third quarter of 2020. Non-GAAP net income for the third quarter of 2021 was $11.0 million, or $0.23 per diluted share, compared to non-GAAP net income of $8.4 million, or $0.18 per diluted share, for the third...