Welcome to our dedicated page for Radware news (Ticker: RDWR), a resource for investors and traders seeking the latest updates and insights on Radware stock.
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), 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.
Radware (NASDAQ: RDWR) has launched Series II of its 2021 Hacker’s Almanac, a guide for cybersecurity and IT professionals. This series details tactics used in real cyberattacks, including DDoS attacks, ransomware, and more. It incorporates the MITRE ATT&CK framework to help organizations understand their vulnerabilities. Pascal Geenens, director of threat intelligence, warns of increasing sophistication in cyberattacks in 2022, emphasizing the need for heightened vigilance and robust security measures to protect supply chains and critical infrastructures.
Radware (NASDAQ: RDWR) has expanded its cybersecurity solutions for Minnesota IT Services (MNIT) to enhance protection for over 5.7 million residents. This upgrade includes the implementation of Radware's Cloud DDoS Protection, Cloud Web Application Firewall, and Bot Management services, aimed at reinforcing the state's cyber defenses against increasingly sophisticated threats. MNIT supports more than 2800 applications that ensure public safety and well-being. Radware's solutions contribute to effective digital transformation and business continuity in Minnesota.
Radware (NASDAQ: RDWR) announced its 2021 Annual General Meeting of Shareholders scheduled for December 9, 2021, at 3:00 p.m. in Tel Aviv, Israel. Shareholders of record by November 5, 2021, can participate. The agenda includes the election of Class I directors, approval of grants to executives, and reappointment of auditors. The company may opt for a virtual meeting due to COVID-19. All proposals require simple majority approval. Position statements are due 10 days before the meeting, and detailed proxy statements will be provided to shareholders.
Radware reported a record revenue of $73 million for Q3 2021, marking a 17% increase year-over-year, surpassing guidance.
Annual Recurring Revenue (ARR) reached $185 million, a 9% year-over-year rise, supported by a 26% increase in cloud and subscription services.
Non-GAAP operating income improved 69% to $11.6 million, with non-GAAP EPS at $0.23. Cash flow from operations was $18 million.
In the first nine months of 2021, Radware (NASDAQ: RDWR) reported a significant increase in DDoS attack mitigation, with a 75% rise in blocked events compared to 2020. The total volume blocked was 44% higher year-over-year. Web application attacks also surged, doubling each quarter, with the most attacks targeting technology and healthcare sectors. The report highlights a need for improved defenses against complex DDoS attacks, as well as a rise in unsolicited network scanning activity, peaking at 27 million events daily in Q3 2021.
Radware (NASDAQ: RDWR) and Netsync have joined forces to offer enhanced security for AWS workloads, focusing on enterprise and public sector clients. Netsync will implement Radware’s Cloud Native Protector, which provides a comprehensive security solution, addressing compliance violations, misconfigurations, and malicious activity. This partnership aims to ensure 24/7 security coverage and business efficiency.
Radware's solution enhances visibility and control over cloud-hosted assets, marking a significant step in protecting against evolving cyber threats.