Radware Ltd. (RDWR) Tops Q1 EPS by 3c, Revenues Beat

Radware Ltd. (NASDAQ: RDWR) reported Q1 EPS of $0.17, $0.03 better than the analyst estimate of $0.14. Revenue for the quarter came in at $67 million versus the consensus estimate of $64.6 million.

First Quarter 2021 Results and Financial Highlights

• Total revenues of $67 million, up 11% year over year, exceeding high end of the guidance
• Americas revenues grew 15% year over year and accounts for 50% of total revenues
• Record ARR of $176 million, up 10% year over year
• Non-GAAP operating income increased 55% year over year to $7.5 million
• Non-GAAP EPS of $0.17, exceeding high end of the guidance; GAAP EPS of $0.08
• Cash flow from operations of $59 million in the last twelve months

“We are pleased to start the year with a strong quarter, highlighted by double-digit growth in total revenue and earnings per share. We continue to execute on our growth pillars, focusing on our security and cloud offerings,” said Roy Zisapel, President and CEO, Radware.

Mr. Zisapel continued, “We are facing a new reality with an increased level of infrastructure and application attacks. As a result, organizations are seeking innovative and sophisticated solutions to protect their assets and applications. The business climate is very positive and given the breadth of our product offering, we are well positioned to capture the opportunities ahead of us.”

For earnings history and earnings-related data on Radware Ltd. (RDWR) click here.

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