Radware Ltd Stock Price, News & Analysis

Radware (NASDAQ: RDWR) has been engaged by a major equipment provider facing a sophisticated DNS flood and ransomware attack. The company deployed its Emergency Response Team to mitigate threats, quickly restoring protection for the customer's global data centers. This incident highlights the growing trend of Ransom DDoS attacks, prompting Radware to actively onboard new clients throughout 2021. Furthermore, Radware's Cloud DDoS Protection Services are designed to offer real-time protection against evolving DDoS threats, ensuring business continuity and minimizing reputational damage.

Radware (NASDAQ: RDWR) has secured a multimillion-dollar deal with a Fortune 100 manufacturing company to bolster its hybrid cloud security. The agreement focuses on Radware's cloud application security solutions to protect numerous web applications hosted across Amazon Web Services and Microsoft Azure, ensuring consistent application safety and control. Radware's superior technology and consultative approach were key factors in the selection process. The company is noted for its ability to adapt security strategies across various cloud platforms.

Radware (NASDAQ: RDWR) has expanded its partnership with INAP, to offer advanced cybersecurity solutions including Cloud WAF and DDoS Protection Services globally. This expansion aims to enhance INAP's product line amid increasing cyber threats. Radware's latest Q2 DDoS Attack Report indicates a 40% rise in blocked attack volumes. Industries like technology, healthcare, and finance are among the most targeted. The partnership signifies a robust response to the growing demand for safe cloud environments as businesses accelerate their digital transformations.

Radware reported a significant rise in DDoS attack volumes in Q2 2021, with blocked attacks up over 40% year-over-year. Companies faced an average of nearly 5,000 malicious events monthly, totaling 2.3TB of attack traffic. The technology sector was the most targeted, with healthcare and finance also heavily affected. New trends included a resurgence of DDoS extortion and aggressive burst attacks aimed at finance and technology firms. The Americas and EMEA regions accounted for approximately 80% of the attack volume.

Radware (NASDAQ: RDWR) reported strong financial results for Q2 2021, achieving record revenue of $70 million, a 19% year-over-year increase. Annual Recurring Revenue (ARR) reached $177 million, up 8%. Non-GAAP operating income rose by 106% to $8.8 million, with a Non-GAAP EPS of $0.19. For the first six months, total revenue was $136 million, up 15%. CEO Roy Zisapel highlighted strong growth driven by application security and cloud solutions, with a robust pipeline as businesses undergo digital transformation amid increasing cyber threats.

Radware (NASDAQ: RDWR) will announce its Q2 2021 financial results on July 28, 2021. The company specializes in cyber security and application delivery solutions for data centers. A conference call will take place at 8:30 AM EDT to discuss the results and provide insights into the third quarter outlook. Participants are encouraged to join 15 minutes early. A replay will be available for two days post-call. For further information, visit their website.

Radware (NASDAQ: RDWR) has expanded its partnership with Acantho, a telecommunications subsidiary of Italy's Hera Group, to enhance cloud web application security for enterprise customers in Italy. Acantho upgraded its infrastructure to include Radware's hybrid DDoS attack protection and will offer the Cloud WAF service along with Bot Manager to improve application security and service quality. This decision comes in response to increased demand for robust security solutions amidst rising cloud migration and attack incidences.

Radware (NASDAQ: RDWR) announced a partnership with Involta to implement its DDoS Protection Service across various sectors including healthcare and finance. This deployment enhances Involta's security offerings, regarded as a leader in DDoS protection by Forrester Research. The partnership leverages Involta's expertise in IT solutions, boosting its capacity to combat sophisticated threats. The DDoS mitigation service aims to ensure continuous online access and safeguard sensitive data. Notably, the revenue recognition from this partnership is uncertain and based on customer experiences.

Radware (NASDAQ: RDWR) has reported an alarming rise in DDoS extortion threats from a group known as Fancy Lazarus. With numerous companies onboarded in response to these threats, the ransom demands now vary from 0.5 to 5 Bitcoin ($18,500 to $185,000), significantly lower than previous campaigns that demanded up to 20 Bitcoin. The attackers are increasingly targeting organizations lacking adequate DDoS protection, suggesting a tactical shift in their operations. Radware emphasizes the necessity for all enterprises, ISPs, and CSPs to diligently assess their DDoS defense strategies in light of this persistent threat.