Radware Ltd Stock Price, News & Analysis

Radware's H1 2024 Global Threat Analysis Report reveals a significant surge in cyber attacks, with web DDoS attacks climbing 265% compared to H2 2023. Key findings include:

- Application-Layer DNS DDoS attacks quadrupled vs H1 2023
- North American online applications faced 66% of web attacks
- EMEA organizations bore over 90% of web DDoS attacks
- Finance sector experienced 44% of network-layer DDoS attacks
- Pro-Russian attacks on Ukraine doubled compared to 2023 average

The report highlights increased attack volumes, with EMEA seeing a 293% growth in average DDoS volume blocked per organization. Hacktivist activities remained high, with 1,000-1,200 claimed attacks monthly. The finance industry was the primary target for both network-layer DDoS (44%) and DNS DDoS attacks (52%).

Radware (NASDAQ: RDWR) announced its Q2 2024 financial results. The company reported revenue of $67.3 million, a 3% increase year-over-year. The Cloud ARR reached $70 million, growing by 19% year-over-year. Non-GAAP operating expenses decreased by 6% to $49 million, while non-GAAP diluted EPS was $0.20. GAAP diluted EPS was $0.04. Cash flow from operations stood at $23 million.

By region, the Americas showed strong growth with a 12% increase in revenue, totaling $30.1 million. EMEA revenue was $22.8 million, a slight increase of 1%. However, APAC revenue declined by 11% to $14.4 million.

The company emphasized its launch of Radware EPIC-AI and its potential impact on H2 2024. Radware also reported having $396.6 million in cash and equivalents as of June 30, 2024.

Radware (NASDAQ: RDWR) has launched EPIC-AI, a proprietary AI-powered intelligence system that enhances its security solutions and services. EPIC-AI aims to improve real-time attack detection, reduce mean time to resolution, and provide consistent protection across cloud, on-premises, and hybrid environments. The system incorporates AI and generative AI algorithms to combat evolving cyberthreats and address the challenges of automated attacks, stricter regulations, and cybersecurity expert shortages.

Key features of EPIC-AI include:

• Integration across multiple enforcement points
• Real-time cloud protection engines with AI-powered defenses
• Cross-platform AI reasoning for preemptive blocking
• AI-Driven SOC capabilities for managed services

Radware (NASDAQ: RDWR) has introduced a new PCI DSS 4.0 Compliance Solution to help organizations meet the regulation's updated application protection requirements. The solution, built on Radware's Cloud Application Protection Service, offers dedicated controls, extensive visibility, easy-to-access reports, and streamlined auditing.

Key features include:

• An AI-powered WAF for website protection
• Real-time API protection against business logic attacks
• Advanced client-side protection measures

Radware (NASDAQ: RDWR) has expanded its cloud services with two new offerings: Domain Name System as a Service (DNSaaS) and NoKey, a solution for private key protection, storage, and management. These additions aim to provide organizations with enhanced flexibility and control over application delivery, security, and performance.

The DNSaaS offers a centralized management console, customizable health checks, flexible record routing options, traffic distribution control, and real-time analytics. NoKey integrates with third-party hardware security modules, allowing customers to route encrypted traffic through Radware's Cloud Application Protection Service without exposing their SSL keys.

These new services reinforce Radware's integrated platform approach to application and network security, creating more conveniences for customers and addressing the growing complexity of managing application security and delivery across diverse technology stacks and environments.

Radware (NASDAQ: RDWR), a key player in cyber security and application delivery solutions, has scheduled a conference call for its second quarter 2024 financial results. The results will be disclosed on Wednesday, July 31, 2024.

The call, slated for 8:30 a.m. EDT, will discuss the company's Q2 results and provide an outlook for Q3 2024. US participants can join the call at 1-888-510-2008, while international callers can dial 1-646-960-0306. The Conference ID is 1864701. A live webcast will be available on Radware's website, and a replay will be accessible for two days post-call at 1-609-800-9909 (US toll-free: 1-800-770-2030), Passcode: 1864701#.

Radware (NASDAQ: RDWR) has introduced a new AI-powered API Protection engine designed to combat business logic attacks in real-time. The engine continuously learns an application's business logic to detect and block malicious API calls automatically. API attacks have become more sophisticated, increasing by 171% in 2023 compared to 2022, with retail (37%) and transportation (19%) being the most targeted industries. Radware's solution leverages continuous auto-learning, real-time context analysis, and precise bad actor identification to enhance API security, reducing risks and ensuring optimized protection.

Radware (NASDAQ: RDWR), a leader in cybersecurity and application delivery, has launched a new cloud security service center in Paris, France. This expansion boosts their DDoS attack mitigation capacity to 15Tbps across a network of over 50 centers worldwide. The new facility aims to enhance customer resilience, reduce latency, increase service redundancy, and support compliance with local data privacy laws. According to Radware’s Global Threat Analysis Report, DDoS attacks rose 94% globally between 2022 and 2023, with a significant surge in France due to hacktivist activities. The new center is part of Radware's strategy to strengthen its global defense infrastructure, especially in light of expected cybersecurity challenges during the 2024 Paris Olympics. David Aviv, Radware’s CTO, emphasizes the necessity for advanced security mechanisms in preparation for potential cyber-attacks during the event.

Radware (NASDAQ: RDWR) has been recognized as a Strong Performer in the 2024 Gartner Peer Insights Voice of the Customer for Cloud Web Application and API Protection (WAAP). The report highlights that 99% of Radware’s customers are willing to recommend its products. Gartner defines Cloud WAAP as security solutions offering protection from various runtime attacks, including web application firewall (WAF), bot management, distributed denial of service (DDoS) mitigation, and API protection.

Customer reviews praised Radware’s Cloud WAF for its ease of use, scalability, and effectiveness in protecting web applications. Radware was also named a Leader and Fast Mover in GigaOm’s 2024 Radar for Application and API Security Report and received top scores in AI-enhanced vulnerability detection. Additionally, it was ranked as a Product, Innovation, Market, and Overall Leader in the 2024 KuppingerCole Leadership Compass Report for Web Application Firewalls (WAF).