RADCOM Q3 2026 revenue falls 23.6% to $14M
Cash, cash equivalents and short-term bank deposits totaled $111.4 million as of September 30, 2026, while RADCOM reaffirmed its $57 million to $63 million 2026 revenue outlook.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
RADCOM Ltd. reported third-quarter 2026 revenue of $14.0 million, up 19.4% sequentially but down 23.6% year over year. GAAP operating results were a loss of $893,000, while non-GAAP operating income was $689,000. GAAP net income was $441,000, versus $3.471 million in third-quarter 2025. RADCOM said it generated $1.7 million in positive cash flow and held $111.4 million in cash, cash equivalents and short-term bank deposits, with no debt, as of September 30, 2026.
The company reaffirmed its revised full-year 2026 revenue outlook of $57 million to $63 million, with a $60 million midpoint. Management said it sees positive signs that some customer deployments delayed in 2026 will begin moving forward in early 2027. RADCOM also expects to begin repurchasing shares after the current earnings-related blackout period ends, at management’s discretion. It added two new customers, VNPT and CETIN Networks, each replacing an incumbent vendor through a competitive process.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter revenue rose 19.4% sequentially to $14.0 million.
Negative
- Moderate pointYear-over-year revenue fell 23.6% to $14.0 million.
- Moderate pointGAAP net income was $441,000, versus $3.471 million in third-quarter 2025.
Filing Explained
This 6-K adds its third-quarter GAAP financial statements to the listed Form S-8 registration statements, effective when filed; it updates which documents are included in those registrations, but does not report an issuance of shares.
Key Figures
Key Terms
non-GAAP operating income financial
amortization of intangible assets financial
stock-based compensation financial
royalty-bearing participation financial
FAQ
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of November 2026
Commission File Number: 0-29452
RADCOM LTD.
(Translation of registrant’s name into English)
24 Raoul Wallenberg Street, Tel Aviv 69719, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form:40-F ☐
THE GAAP FINANCIAL STATEMENTS INCLUDED IN EXHIBIT 99.1 TO THIS FORM 6-K OF THE REGISTRANT ARE HEREBY INCORPORATED BY REFERENCE INTO THE REGISTRANT’S REGISTRATION STATEMENTS ON FORM S-8 (REGISTRATION STATEMENT NOS. 333-190207, 333-195465, 333-203087, 333-211628, 333-215591, 333-260997, 333-270983 AND 333-276692), AND SHALL BE A PART THEREOF FROM THE DATE ON WHICH THIS REPORT IS FILED, TO THE EXTENT NOT SUPERSEDED BY DOCUMENTS OR REPORTS SUBSEQUENTLY FILED OR FURNISHED.
CONTENTS
This report on Form 6-K of the registrant consists of the contents above and the following document, which is attached hereto and incorporated by reference herein:
| Exhibit 99.1 | Press release, dated November 11, 2026, reporting the Registrant’s Third Quarter of 2026 Results |
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| RADCOM LTD. | ||
| Date: November 12, 2026 | By: | /s/ Hod Cohen |
| Name: | Hod Cohen | |
| Title: | Chief Financial Officer | |
2
Exhibit 99.1
 |
 |
RADCOM Reports Third Quarter 2026 Results
Increased revenue 19.4% sequentially, returned to quarterly non-GAAP operating income, and maintained positive cash flow
TEL AVIV, Israel – November 11, 2026 – RADCOM Ltd. (Nasdaq: RDCM) announced today its financial results for the third quarter ended September 30, 2026.
Third-quarter revenues were $14.0 million, up 19.4% sequentially and down 23.6% year over year. Although RADCOM recorded a GAAP operating loss, it returned to non-GAAP operating profitability. RADCOM also generated $1.7 million in positive cash flow and ended the quarter with $111.4 million in cash, cash equivalents, and short-term bank deposits and no debt, up from $109.7 million as of June 30, 2026.
“We returned to non-GAAP operating profitability this quarter and added two new customers, VNPT and CETIN Networks, each replacing the incumbent vendor through a competitive process,” said Benny Eppstein, RADCOM’s Chief Executive Officer. “Our solutions remain integral to how customers manage their networks and end-user service quality, and our customer relationships remain strong. Operators continue to invest in their networks, and we are working closely with them on their deployment plans. Based on those discussions, we see positive signs that some deployments delayed in 2026 will begin to move forward in early 2027.”
“We are reaffirming our revised full-year outlook,” Eppstein continued. “With $111.4 million in cash and no debt, we are investing in RADCOM ACE and our agentic AI roadmap to drive growth. We expect to begin repurchasing shares after the current earnings-related blackout period ends, at management’s discretion. Looking ahead, we remain open to partnerships and targeted acquisitions that expand our solution portfolio, enhance customer value, and deliver greater returns to stakeholders. Together, these steps reflect our confidence in the business and our commitment to building long-term value for our shareholders.”
Third Quarter of 2026 Financial Highlights:
| ● | Total revenues for the third quarter of 2026 were $14.0 million, up 19.4% sequentially from $11.8 million in the second quarter of 2026, and down 23.6% year over year from $18.4 million in the third quarter of 2025. |
| ● | GAAP operating loss for the third quarter of 2026 was $0.9 million, or (6.4%) of revenue, compared to GAAP operating income of $2.4 million, or 13.1% of revenue, for the third quarter of 2025. |
| ● | Non-GAAP operating income for the third quarter of 2026 was $0.7 million, or 4.9% of revenue, compared to non-GAAP operating income of $3.8 million, or 20.9% of revenue, for the third quarter of 2025. |
| ● | GAAP net income for the third quarter of 2026 was $0.4 million, or $0.03 per diluted share, compared to GAAP net income of $3.5 million, or $0.21 per diluted share, for the third quarter of 2025. |
| ● | Non-GAAP net income for the third quarter of 2026 was $1.9 million, or $0.11 per diluted share, compared to non-GAAP net income of $4.9 million, or $0.29 per diluted share, for the third quarter of 2025. |
| ● | Cash flow for the third quarter of 2026 was positive at $1.7 million. As of September 30, 2026, the Company had cash, cash equivalents and short-term bank deposits of $111.4 million and no debt, compared to $109.7 million as of June 30, 2026. |
First Nine Months of 2026 Financial Highlights:
| ● | Total revenues for the first nine months of 2026 were $44.4 million, compared to $52.6 million in the first nine months of 2025, a decline of 15.7% year over year. |
| ● | GAAP operating loss for the first nine months of 2026 was $2.5 million, or (5.6%) of revenue, compared to GAAP operating income of $5.6 million, or 10.7% of revenue, for the first nine months of 2025. |
| ● | Non-GAAP operating income for the first nine months of 2026 was $2.3 million, or 5.1% of revenue, compared to non-GAAP operating income of $10.4 million, or 19.8% of revenue, for the first nine months of 2025. |
| ● | GAAP net income for the first nine months of 2026 was $0.4 million, or $0.02 per diluted share, compared to GAAP net income of $8.3 million, or $0.50 per diluted share, for the first nine months of 2025. |
| ● | Non-GAAP net income for the first nine months of 2026 was $5.1 million, or $0.30 per diluted share, compared to non-GAAP net income of $13.2 million, or $0.79 per diluted share, for the first nine months of 2025. |
Recent Highlights:
| ● | In the third quarter, VNPT (Vietnam Posts and Telecommunications Group), one of Vietnam’s largest telecom operators with over 30 million subscribers, selected RADCOM to provide AI-native, cloud-native service assurance for its roaming network. Following a competitive request for proposal (RFP) process, RADCOM will replace VNPT’s incumbent assurance vendor, deploying the cloud-native RADCOM ACE platform across multiple cloud environments with AI and machine learning (ML)-based anomaly detection to recognize issues before they affect the customer experience. |
| ● | RADCOM booked a multi-year contract with new customer CETIN Networks in Slovakia in the third quarter to deploy end-to-end, AI-driven assurance across its mobile network, from the radio access network (RAN) to the core, replacing the incumbent assurance provider. CETIN Networks is part of CETIN International and the wider e& PPF Telecom Group, which together serve more than 12 million customers across four countries. |
| ● | In September 2026, RADCOM’s Board of Directors authorized a share repurchase program of up to $20 million of the Company’s ordinary shares, expected to remain in effect for up to 18 months. No shares were repurchased during the third quarter, and the Company expects to begin repurchases at management’s discretion, after the current earnings-related blackout period ends. |
Outlook
RADCOM reaffirms its revised full-year 2026 revenue outlook of $57 to $63 million, with a midpoint of $60 million, as announced on July 30, 2026.
Conference Call and Webcast
RADCOM’s management will host an interactive conference call on Wednesday, November 11, 2026, at 8:00 a.m. Eastern Time (3:00 p.m. Israel Time) to discuss the results and answer questions.
Conference call details:
Date / Time: Wednesday, November 11, 2026, at 8:00 a.m. Eastern Time / 3:00 p.m. Israel Time
USA Toll-Free: 1-866-652-8972
USA Toll-Free (alternate): 1-800-994-4498
Local Access: 03-9180609
Webcast (live and replay): https://www.veidan-conferencing.com/radcom
An archived replay of the call will be available on the RADCOM website following the live event.
###
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About RADCOM
RADCOM (Nasdaq: RDCM) is a leading provider of advanced, intelligent assurance solutions with integrated AI Operations (AIOps) capabilities. Its flagship platform, RADCOM ACE, harnesses AI-driven analytics and generative AI (GenAI) to improve customer experiences. From lab testing to full-scale deployment, RADCOM utilizes cutting-edge networking technologies to capture and analyze real-time data. Its advanced 5G portfolio delivers end-to-end network observability, from the radio access network (RAN) to the core.
Designed to be open, vendor-neutral, and cloud-agnostic, RADCOM’s solutions drive next-generation network automation, optimization, and efficiency. By leveraging AI-powered intelligence, RADCOM reduces operational costs, enables predictive customer insights, and seamlessly integrates with business support systems (BSS), operations support systems (OSS), and service management platforms. Offering a complete, real-time view of mobile and fixed networks, RADCOM empowers telecom operators to ensure exceptional service quality, enhance user experiences, and build customer-centric networks.
For all investor inquiries, please contact:
Investor Relations:
Rob Fink or Joey Delahoussaye
FNK IR
rdcm@fnkir.com
646-809-4048 / 312-809-1087
Company Contact:
Hod Cohen
CFO
+972-3-645-5055
hod.cohen@radcom.com
Non-GAAP Information
Certain non-GAAP financial measures are included in this press release. These non-GAAP financial measures are provided to enhance the reader’s overall understanding of the Company’s financial performance. By excluding non-cash stock-based compensation that has been expensed in accordance with ASC Topic 718, financial income (expenses) and amortization of intangible assets related to acquisitions, the Company’s non-GAAP results provide information to both management and investors that is useful in assessing the Company’s core operating performance and in evaluating and comparing the Company’s results of operations on a consistent basis from period to period. These non-GAAP financial measures are also used by management to evaluate financial results and to plan and forecast future periods. The presentation of this additional information is not meant to be considered a substitute for the corresponding financial measures prepared in accordance with GAAP.
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 the Company discusses its full-year 2026 revenue outlook; the timing of customer deployments generally; continued investment by operators in their networks; the strength of its customer relationships building long-term value for shareholders and its investments in RADCOM ACE and its agentic AI roadmap; potential partnerships and targeted acquisitions and the initiation, timing, amount and duration of repurchases of its shares under its share repurchase program, 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 the Company 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 the Company’s products, delays in or cancellation of customer deployments, dependence on a limited number of customers, inability to timely develop and introduce new technologies, products, and applications, including AI-based capabilities, loss of market share and pressure on prices resulting from competition, market conditions, share price and other factors affecting whether and when the Company repurchases shares, and the effects of the conflict in Israel. For additional information regarding these and other risks and uncertainties associated with the Company’s business, reference is made to the Company’s reports filed from time to time with the U.S. Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason, except as required by law.
3
RADCOM Ltd.
Consolidated Statements of Operations
Unaudited
(thousands of U.S. dollars, except share and per share data)
| Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenues | $ | 14,041 | $ | 18,388 | $ | 44,386 | $ | 52,637 | ||||||||
| Cost of revenues | 3,817 | 4,364 | 11,260 | 12,823 | ||||||||||||
| Gross profit | 10,224 | 14,024 | 33,126 | 39,814 | ||||||||||||
| Research and development, gross | 5,355 | 5,119 | 16,754 | 14,832 | ||||||||||||
| Less - royalty-bearing participation | - | 189 | 113 | 214 | ||||||||||||
| Research and development, net | 5,355 | 4,930 | 16,641 | 14,618 | ||||||||||||
| Sales and marketing | 4,076 | 5,144 | 14,224 | 14,944 | ||||||||||||
| General and administrative | 1,686 | 1,535 | 4,734 | 4,635 | ||||||||||||
| Total operating expenses | 11,117 | 11,609 | 35,599 | 34,197 | ||||||||||||
| Operating (loss) income | (893 | ) | 2,415 | (2,473 | ) | 5,617 | ||||||||||
| Financial income, net | 1,493 | 1,163 | 3,513 | 3,076 | ||||||||||||
| Income before taxes on income | 600 | 3,578 | 1,040 | 8,693 | ||||||||||||
| Taxes on income | 159 | 107 | 636 | 344 | ||||||||||||
| Net income | $ | 441 | $ | 3,471 | $ | 404 | $ | 8,349 | ||||||||
| Basic net income per ordinary share | $ | 0.03 | $ | 0.21 | $ | 0.02 | $ | 0.52 | ||||||||
| Diluted net income per ordinary share | $ | 0.03 | $ | 0.21 | $ | 0.02 | $ | 0.50 | ||||||||
| Weighted average number of ordinary shares used in computing basic net income per ordinary share | 17,008,033 | 16,357,554 | 16,842,641 | 16,183,572 | ||||||||||||
| Weighted average number of ordinary shares used in computing diluted net income per ordinary share | 17,300,951 | 16,923,983 | 17,225,321 | 16,766,553 | ||||||||||||
| (*) | Less than $ 0.01 |
4
RADCOM LTD.
Reconciliation of GAAP to Non-GAAP Financial Information
Unaudited
(thousands of U.S. dollars, except share and per share data)
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| GAAP gross profit | $ | 10,224 | $ | 14,024 | $ | 33,126 | $ | 39,814 | ||||||||
| Stock-based compensation | 88 | 99 | 267 | 298 | ||||||||||||
| Amortization of intangible assets | 57 | 57 | 168 | 168 | ||||||||||||
| Non-GAAP gross profit | $ | 10,369 | $ | 14,180 | $ | 33,561 | $ | 40,280 | ||||||||
| GAAP research and development, net | $ | 5,355 | $ | 4,930 | $ | 16,641 | $ | 14,618 | ||||||||
| Stock-based compensation | 437 | 421 | 1,385 | 1,308 | ||||||||||||
| Non-GAAP research and development, net | $ | 4,918 | $ | 4,509 | $ | 15,256 | $ | 13,310 | ||||||||
| GAAP sales and marketing | $ | 4,076 | $ | 5,144 | $ | 14,224 | $ | 14,944 | ||||||||
| Stock-based compensation | 521 | 504 | 1,634 | 1,709 | ||||||||||||
| Amortization of intangible assets | 29 | 29 | 87 | 86 | ||||||||||||
| Non-GAAP sales and marketing | $ | 3,526 | $ | 4,611 | $ | 12,503 | $ | 13,149 | ||||||||
| GAAP general and administrative | $ | 1,686 | $ | 1,535 | $ | 4,734 | $ | 4,635 | ||||||||
| Stock-based compensation | 450 | 323 | 1,183 | 1,244 | ||||||||||||
| Non-GAAP general and administrative | $ | 1,236 | $ | 1,212 | $ | 3,551 | $ | 3,391 | ||||||||
| GAAP total operating expenses | $ | 11,117 | $ | 11,609 | $ | 35,599 | $ | 34,197 | ||||||||
| Stock-based compensation | 1,408 | 1,248 | 4,202 | 4,261 | ||||||||||||
| Amortization of intangible assets | 29 | 29 | 87 | 86 | ||||||||||||
| Non-GAAP total operating expenses | $ | 9,680 | $ | 10,332 | $ | 31,310 | $ | 29,850 | ||||||||
| GAAP operating (loss) income | $ | (893 | ) | $ | 2,415 | $ | (2,473 | ) | $ | 5,617 | ||||||
| Stock-based compensation | 1,496 | 1,347 | 4,469 | 4,559 | ||||||||||||
| Amortization of intangible assets | 86 | 86 | 255 | 254 | ||||||||||||
| Non-GAAP operating income | $ | 689 | $ | 3,848 | $ | 2,251 | $ | 10,430 | ||||||||
5
RADCOM LTD.
Reconciliation of GAAP to Non-GAAP Financial Information
Unaudited
(thousands of U.S. dollars, except share and per share data)
Three months ended September 30, | Nine months ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| GAAP income before taxes on income | $ | 600 | $ | 3,578 | $ | 1,040 | $ | 8,693 | ||||||||
| Stock-based compensation | 1,496 | 1,347 | 4,469 | 4,559 | ||||||||||||
| Amortization of intangible assets | 86 | 86 | 255 | 254 | ||||||||||||
| Financial (income) expenses, net | (90 | ) | 22 | 19 | 49 | |||||||||||
| Non-GAAP income before taxes on income | $ | 2,092 | $ | 5,033 | $ | 5,783 | $ | 13,555 | ||||||||
| GAAP net income | $ | 441 | $ | 3,471 | $ | 404 | $ | 8,349 | ||||||||
| Stock-based compensation | 1,496 | 1,347 | 4,469 | 4,559 | ||||||||||||
| Amortization of intangible assets | 86 | 86 | 255 | 254 | ||||||||||||
| Financial (income) expenses, net | (90 | ) | 22 | 19 | 49 | |||||||||||
| Non-GAAP net income | $ | 1,933 | $ | 4,926 | $ | 5,147 | $ | 13,211 | ||||||||
| GAAP net income per diluted share | $ | 0.03 | $ | 0.21 | $ | 0.02 | $ | 0.50 | ||||||||
| Stock-based compensation | 0.09 | 0.07 | 0.27 | 0.27 | ||||||||||||
| Amortization of intangible assets | (*) | 0.01 | 0.01 | 0.02 | ||||||||||||
| Financial (income) expenses, net | (0.01 | ) | (*) | (*) | (*) | |||||||||||
| Non-GAAP net income per diluted share | $ | 0.11 | $ | 0.29 | $ | 0.30 | $ | 0.79 | ||||||||
| Weighted average number of shares used to compute diluted net income per share | 17,300,951 | 16,923,983 | 17,225,321 | 16,766,553 | ||||||||||||
| (*) | Less than $ 0.01 |
6
RADCOM Ltd.
Consolidated Balance Sheets
Unaudited
(thousands of U.S. dollars)
| As of | As of | |||||||
| September 30, 2026 | December 31, 2025 | |||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 13,991 | $ | 30,486 | ||||
| Short-term bank deposits | 97,449 | 79,437 | ||||||
| Trade receivables, net | 19,745 | 20,245 | ||||||
| Inventories | 549 | 318 | ||||||
| Other accounts receivable and prepaid expenses | 2,587 | 2,036 | ||||||
| Total Current Assets | 134,321 | 132,522 | ||||||
| Non-Current Assets | ||||||||
| Severance pay fund | 3,297 | 3,431 | ||||||
| Other long-term receivables | 3,417 | 2,866 | ||||||
| Property and equipment, net | 1,242 | 988 | ||||||
| Operating lease right-of-use assets | 2,135 | 2,898 | ||||||
| Goodwill and intangible assets, net | 2,013 | 2,269 | ||||||
| Total Non-Current Assets | 12,104 | 12,452 | ||||||
| Total Assets | $ | 146,425 | $ | 144,974 | ||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current Liabilities | ||||||||
| Trade payables | $ | 2,676 | $ | 2,632 | ||||
| Deferred revenues and advances from customers | 1,062 | 1,100 | ||||||
| Employee and payroll accruals | 4,405 | 7,325 | ||||||
| Operating lease liabilities | 1,141 | 1,099 | ||||||
| Other liabilities and accrued expenses | 10,587 | 10,872 | ||||||
Total Current Liabilities | 19,871 | 23,028 | ||||||
| Non-Current Liabilities | ||||||||
| Accrued severance pay | 4,581 | 4,790 | ||||||
| Operating lease liabilities | 1,329 | 2,135 | ||||||
| Other liabilities and accrued expenses | 1,164 | 916 | ||||||
| Total Non-Current Liabilities | 7,074 | 7,841 | ||||||
| Total Liabilities | $ | 26,945 | $ | 30,869 | ||||
| Shareholders’ Equity | ||||||||
| Share capital | $ | 839 | $ | 809 | ||||
| Additional paid-in capital | 172,151 | 167,172 | ||||||
| Accumulated other comprehensive loss | (2,961 | ) | (2,923 | ) | ||||
| Accumulated deficit | (50,549 | ) | (50,953 | ) | ||||
| Total Shareholders’ Equity | 119,480 | 114,105 | ||||||
Total Liabilities and Shareholders’ Equity | $ | 146,425 | $ | 144,974 | ||||
7