Slide 1: Q1-23 Conference Call
Q1-23 CONFERENCE CALL May 10, 2023
Slide 2: Agenda
AGENDA Introduction and safe harbor CEO – Eyal Harari, Chief Executive Officer CFO – Hadar Rahav, Chief Financial Officer Q&A
Slide 3: Safe Harbor Provision
SAFE HARBOR PROVISION Forward-looking statements in this presentation involve several risks and uncertainties, including, but not limited to, the Company's statements about its full-year 2023 revenue guidance as well as revenue from its business with AT&T, levels of gross margin, operating expenses
Slide 4: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES In this conference call, management will be referring to certain non-GAAP financial measures, which are provided to enhance the user's overall understanding of the Company’s financial performance. By excluding certain non-cash stock-based compensation expenses, non-GAAP r
Slide 5: Q1-23 Overview
Q1-23 OVERVIEW Revenues for the first quarter of 2023 were $12 million dollars Cash and cash equivalents and short-term bank deposits of $77.9 million dollars and no debt 2023 revenue guidance range of $50 - $53 million 5
Slide 6: First Quarter 2023 Financial Results
FIRST QUARTER 2023 FINANCIAL RESULTS
Slide 7: Consolidated Statements of Operations (GAAP)
CONSOLIDATED STATEMENTS OF OPERATIONS (GAAP) (in thousands of U.S. dollars, except per share data) UNAUDITED Three months ended March 31, 2023 2022 Unaudited Unaudited Revenues $ 12,023 $ 10,624 Cost of revenues $ 3,348 $ 2,837 Gross profit $ 8,675 $ 7,787 Gross profit % 72% 73% Research and develop
Slide 8: Consolidated Statements of Operations (Non-GAAP)
CONSOLIDATED STATEMENTS OF OPERATIONS (NON-GAAP) (thousands of U.S. dollars, except per share data) UNAUDITED Three months ended March 31, 2023 2022 Unaudited Unaudited NON-GAAP (1) Revenues $ 12,023 $ 10,624 Cost of revenues $ 3,259 $ 2,745 Gross profit $ 8,764 $ 7,879 Gross profit % 73% 74% Resear
Slide 9: Operating Expenses (GAAP)
OPERATING EXPENSES (GAAP) (thousands of U.S. dollars) UNAUDITED Three months ended March 31, 2023 2022 Unaudited Unaudited Research and development, gross $ 4,769 $ 5,559 Less - royalty-bearing participation $ 262 $ 218 Research and development, net $ 4,507 $ 5,341 Sales and marketing $ 3,313 $ 2,90
Slide 10: Operating Expenses (Non-GAAP)
OPERATING EXPENSES (NON-GAAP) (thousands of U.S. dollars) UNAUDITED Three months ended March 31, 2023 2022 Unaudited Unaudited NON-GAAP (1) Research and development, gross $ 4,224 $ 4,948 Less - royalty-bearing participation $ 262 $ 218 Research and development, net $ 3,962 $ 4,730 Sales and marketi
Slide 11: Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS (thousands of U.S. dollars) As of As of December 31, March 31, 2023 2022 (Unaudited) (audited) Cash and cash equivalents $ 9,727 $ 9,527 Short-term bank deposits $ 68,155 $ 64,130 Trade receivables, net $ 11,953 $ 11,074 Inventories $ 407 $ 795 Other accounts receivable a
Slide 12: Current Assets vs. Current Liabilities ($M)
CURRENT ASSETS VS. CURRENT LIABILITIES ($M) 100.0 92.3 90.0 84.2 79.9 80.0 70.0 60.0 50.0 40.0 30.0 21.4 20.0 16.0 12.2 10.0 - Q1-21 Q1-22 Q1-23 Current Assets Current Liabilities 12
Slide 13: Thank You
THANK YOU All rights reserved. This presentation contains proprietary information of RADCOM Ltd. Without the express prior written permission of RADCOM Ltd., no part of the contents hereof may be used for any other purpose, disclosed to persons or firms outside the recipient company, or reproduced b