RADCOM Secures Over $45M in New Contracts Since the Beginning of 2024

Rhea-AI Summary

RADCOM (Nasdaq: RDCM) announced securing over $45 million in new contracts since January 2024. This milestone demonstrates the company's effective strategy to grow its business and revenue through innovative solutions, particularly in cloud-based 5G networks.

Interim CEO Hilik Itman emphasized the company's leading position in providing cloud-based solutions for telecom operators transitioning to 5G. Itman highlighted that these new contracts will help expand solution deployments and drive future growth, reflecting RADCOM's commitment to meeting customer needs with advanced technology.

Positive

• RADCOM secured over $45 million in new contracts since January 2024.
• These contracts highlight RADCOM's effective strategy to grow its business and increase revenue.
• The new contracts mainly focus on innovative solutions in cloud-based 5G networks.
• RADCOM's position as a leading provider of cloud-based solutions for telecom operators is strengthened.
• The contracts will contribute to expanding RADCOM's solution deployments and future business growth.
• Interim CEO Hilik Itman expresses confidence that this positive momentum will continue.

Negative

• None.

News Market Reaction

+7.69%

1 alert

+7.69% News Effect

On the day this news was published, RDCM gained 7.69%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TEL AVIV, Israel, June 6, 2024 /PRNewswire/ -- RADCOM Ltd. (Nasdaq: RDCM) announced that it has secured over $45 million in new contracts since the beginning of 2024.

This significant achievement validates the company's strategy for growing the business and increasing revenue through RADCOM's innovative solutions, especially with the transition to 5G and cloud-based networks.

Mr. Hilik Itman, RADCOM's interim Chief Executive Officer, commented, "Securing over $45 million in new contracts strengthens our position as a leading provider of cloud-based solutions for telecom operators, especially for the transition to cloud-based 5G networks. This success highlights our ability to expand our solution deployments and drive the business forward. These achievements emphasize our commitment to delivering innovative solutions that meet the evolving needs of our customers, and we believe this positive momentum will continue throughout the year."

For all investor inquiries, please contact:

Investor Relations:
Miri Segal
MS-IR LLC
917-607-8654
msegal@ms-ir.com 

Company Contact:
Hadar Rahav  
CFO  
+972-77-7745062   
hadar.rahav@radcom.com    

About RADCOM

RADCOM (Nasdaq: RDCM) is the leading expert in 5G ready cloud-native network intelligence solutions for telecom operators transitioning to 5G. RADCOM Network Intelligence consists of RADCOM Network Visibility, RADCOM Service Assurance, and RADCOM Network Insights. The RADCOM Network Intelligence suite offers intelligent, container-based, on-demand solutions to deliver network analysis from the RAN to the core for 5G assurance. Utilizing automated and dynamic solutions with smart minimal data collection and on-demand troubleshooting, and cutting-edge techniques based on machine learning, these solutions work in harmony to provide operators with an understanding of the entire customer experience and allow them to troubleshoot network performance from a high to granular level while reducing storage costs and cloud resource utilization. For more information on how to RADCOMize your network today, please visit www.radcom.com, the content of which does not form a part of this press release.

Risks Regarding Forward-Looking Statements

Certain statements made herein that use words such as "estimate," "project," "intend," "expect," "'believe," "may," "might," " potential," "anticipate," "plan" or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. For example, when RADCOM discusses the potential to execute and deliver under new contracts, the validation of the company's strategy for growing the business and increasing revenue through innovative solutions, the ability to further expand its solution deployments and drive the business forward, continued growth, and further delivering innovative solutions that meet the evolving needs of our customers, it is using forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance, or achievements of RADCOM to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in demand for RADCOM's products, inability to timely develop and introduce new technologies, products, and applications, loss of market share and pressure on prices resulting from competition and the effects of the war in Israel. For additional information regarding these and other risks and uncertainties associated with RADCOM's business, reference is made to RADCOM's reports filed from time to time with the U.S. Securities and Exchange Commission. RADCOM does not undertake to revise or update any forward-looking statements for any reason.

 

 

 

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SOURCE RADCOM Ltd.

FAQ

What is the total value of new contracts RADCOM secured in 2024?

RADCOM secured over $45 million in new contracts since the beginning of 2024.

What strategy has RADCOM followed to secure new contracts?

RADCOM's strategy focuses on growing its business and increasing revenue through innovative solutions, particularly in cloud-based 5G networks.

Who commented on RADCOM's contract achievements?

Hilik Itman, RADCOM's interim Chief Executive Officer, commented on the contract achievements.

How do these new contracts reflect on RADCOM's market position?

The new contracts strengthen RADCOM's position as a leading provider of cloud-based solutions for telecom operators.

What is RADCOM's focus area for its new contracts?

RADCOM's new contracts focus on cloud-based solutions for the transition to 5G networks.