Radware Ltd. develops application security and delivery solutions for multi-cloud environments, with cloud application, infrastructure, API and AI security products that address web, application and DDoS attacks, API abuse, business logic threats and malicious bots. Company news commonly covers quarterly results, cloud ARR, regional revenue trends and demand for offerings such as API Protection, DefensePro X and Web DDoS Protection.
Updates also include cloud security partnerships, service-provider deployments, threat research, share repurchase authorizations, investor conference participation and annual general meeting matters tied to the company’s Israeli corporate governance framework.
Radware (NASDAQ: RDWR) has launched enhanced cloud application security features, introducing automated API Discovery capabilities that identify undocumented APIs and optimize security policies without human involvement. This innovation is part of Radware's Application-Protection-as-a-Service solution, addressing the challenges organizations face in API security due to frequent application updates. The use of machine learning allows for real-time threat detection, including protection against data leakage and bot attacks. Radware's technology has received recognition in the industry, ranking high in Gartner's reports.
Radware (NASDAQ: RDWR) announced the acquisition of SecurityDAM for $30 million to enhance its cloud security services. The firm aims to bolster its innovation center in India and expand its cloud network capacity to 10Tbps, addressing rising cyber threats. This strategic initiative reflects Radware's commitment to deliver advanced security solutions, already serving a quarter of the Fortune 50 companies. The acquisition is expected to be accretive to earnings on a non-GAAP basis in 2023.
Radware (RDWR) reported record revenues of $76.6 million for Q4 2021, a rise of 11% year-over-year, exceeding expectations. The company achieved a full-year revenue of $286.5 million, up 15%. Non-GAAP operating income increased 21% to $11 million in Q4. However, GAAP net loss was $5.6 million for Q4, contrasting with a profit in Q4 2020.
Subscription revenue now constitutes over 30% of total revenue. Cash flow from operations reached $29 million in Q4, and $72 million for the year.
Radware (NASDAQ: RDWR) expands its DDoS protection and application delivery solutions through a multimillion-dollar deal with a Tier-1 U.S. carrier. This investment bolsters the carrier's defenses, ensuring enhanced application traffic management across its growing global cloud infrastructure. The carrier sought to improve security and availability while facing escalating cyber threats. Following competitive evaluations, Radware's DefensePro and Alteon solutions were selected for their advanced capabilities, which are essential for today's cloud environments.
Radware (NASDAQ: RDWR) announced the appointment of Guy Avidan as its new Chief Financial Officer (CFO), effective February 18, 2022. Avidan comes from Kornit Digital, where he served as president and CFO, leading the company to its IPO. He has extensive experience in finance and executive roles in technology companies and is a certified public accountant. CEO Roy Zisapel expressed confidence in Avidan's ability to support Radware's growth strategy. This leadership change aims to enhance financial strategy and sustain business momentum.
Radware (NASDAQ: RDWR) will release its fourth quarter and full year 2021 financial results on February 9, 2022. The management team will host a conference call at 8:30 a.m. EST to discuss the results and provide an outlook for Q1 2022. Participants are advised to join the call 15 minutes early. A replay will be available for two days after the call. Radware specializes in cyber security and application delivery solutions, aiming to enhance business continuity while helping reduce costs.
Radware (NASDAQ: RDWR), a cyber security and application delivery solutions provider, announced that Armis has selected its Cloud Native Protector for safeguarding its Amazon Web Services (AWS) environment. The solution enhances Armis' visibility and governance, allowing the DevOps team to track assets and detect vulnerabilities before they become threats. With automated risk assessments and alerts, Radware's agentless solution provides a comprehensive security posture, addressing unique needs of cloud-native companies.
Radware (NASDAQ: RDWR) announced the results of its Annual General Meeting of Shareholders held on December 9, 2021. Four proposals were voted on, with three adopted by the requisite shareholder vote. However, the proposal to approve equity-based awards for the company's president and CEO was not adopted. This outcome indicates mixed results for shareholder interests, as one significant proposal failed to pass.
Radware (NASDAQ: RDWR) has partnered with Toronto-based Oncore Cloud Services to enhance cloud security for enterprise and public sector organizations. Oncore will resell Radware's cloud security portfolio, focusing on the Cloud Native Protector designed to secure cloud migrations. This collaboration aims to prevent compliance violations and cyber threats while facilitating agile and flexible cloud environments. Key offerings include integrated web application security and DDoS protection, bolstering organizations' defenses against malicious activities.
Radware (NASDAQ: RDWR) announced that CHT Security has adopted its DefensePro® DDoS Protection solution to protect NCSoft Taiwan during a game launch. This partnership helped mitigate significant DDoS attacks, ensuring a smooth rollout. Radware's recent report highlights a surge in DDoS attacks, particularly affecting gaming and telecom sectors, with incidents in 2021 surpassing those in 2020. Radware emphasizes the need for layered DDoS defense as attacks become more sophisticated.