RADCOM (NASDAQ: RDCM) posts 17.2% revenue growth and record margins

Rhea-AI Filing Summary

RADCOM Ltd. reported record 2025 results with 17.2% full-year revenue growth to $71.5 million and its highest operating margins to date. Net income rose to $11.99 million, with diluted EPS of $0.71, and non-GAAP net income increased to $18.42 million.

The company ended 2025 with record cash of $109.9 million and no debt, and guided 2026 revenue growth of 8%–12%, implying about $78.6 million at the midpoint. The board appointed existing director Rami Schwartz as Chairman, succeeding Sami Totah, who will remain on the board.

Positive

• Strong 2025 financial performance: Revenue grew 17.2% to $71.5 million, GAAP operating income rose to $8.3 million, and GAAP net income increased to $12.0 million with diluted EPS of $0.71.
• Robust balance sheet and guidance: The company ended 2025 with $109.9 million of cash and no debt, and guided 2026 revenue growth of 8%–12%, implying approximately $78.6 million of revenue at the midpoint.

Negative

• None.

Insights

Equity analyst – software and communications

RADCOM delivered strong growth, rising profitability, and maintains a very cash-rich, debt-free balance sheet.

RADCOM grew 2025 revenue 17.2% to $71.5 million, with GAAP operating income more than doubling to $8.3 million. Net income rose to $11.99 million, and non-GAAP net income reached $18.42 million, indicating improving operating leverage in its AI-powered assurance business.

The company closed 2025 with record cash of $109.9 million and no debt, while shareholders’ equity increased to $114.1 million. This provides a solid cushion to support further investment and customer expansion in telecom assurance and analytics as described in the business overview.

Management issued 2026 revenue growth guidance of 8%–12%, implying about $78.6 million at the midpoint, which points to continued but moderating top-line expansion after 2025’s 17.2% growth. Leadership continuity is supported by naming long-time director Rami Schwartz as Chairman effective February 8, 2026.

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 February 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 AND THE PARAGRAPH UNDER THE CAPTION “CHAIRMAN OF THE BOARD TRANSITION” 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 February 11, 2026, reporting the Registrant’s Fourth Quarter and Full Year of 2025 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: February 11, 2026	By:	/s/ Hod Cohen
	Name:	Hod Cohen
	Title:	Chief Financial Officer

2

Exhibit 99.1

RADCOM Delivers 17.2% Full-Year Revenue Growth, Record Revenue and Operating Margins in 2025

Sixth consecutive year of revenue growth, reflecting ongoing business momentum

Tel Aviv, Israel – February 11, 2026 – RADCOM Ltd. (NASDAQ: RDCM), a leader in next-generation AI-powered assurance solutions, announced today its financial results for the fourth quarter and full year ended December 31, 2025.

“RADCOM delivered record revenue of $71.5 million and achieved its highest annual operating margins to date in 2025, marking six consecutive years of revenue growth,” said Benny Eppstein, Chief Executive Officer of RADCOM. “We are scaling profitability, generating strong cash flow, and strengthening our balance sheet, reflecting a business model with clear operating leverage while delivering measurable value to our customers. As telecom operators adapt to an AI-driven environment, they must operate their networks more efficiently while improving the customer experience, and our solutions enable both. We have built a strong foundation for sustainable, profitable growth as we work to continue to expand our customer base.”

“With record cash levels of $109.9 million and no debt as of year-end, we enter 2026 from a position of financial strength,” added Eppstein. “Our focus remains on expanding our Tier-1 customer footprint, deepening partnerships across our ecosystem, and continuing to lead in intelligent assurance and AI-driven analytics.”

Fourth Quarter 2025 Financial Highlights:

● Total revenues for the fourth quarter of 2025 were $18.9 million, compared to $16.3 million in the fourth quarter of 2024, or 15.9% growth year-over-year.

● GAAP operating income for the fourth quarter of 2025 was $2.7 million, or 14.2% of revenue, compared to GAAP operating income of $1.3 million, or 8.1% of revenue, for the fourth quarter of 2024.

● Non-GAAP operating income for the fourth quarter of 2025 was $4.3 million, or 23.0% of revenue, compared to non-GAAP operating income of $2.9 million, or 17.6% of revenue, for the fourth quarter of 2024.

● GAAP net income for the fourth quarter of 2025 was $3.6 million, or $0.21 per diluted share, compared to GAAP net income of $2.2 million, or $0.14 per diluted share, for the fourth quarter of 2024.

● Non-GAAP net income for the fourth quarter of 2025 was $5.2 million, or $0.31 per diluted share, compared to non-GAAP net income of $3.8 million, or $0.23 per diluted share, for the fourth quarter of 2024.

● Positive cash flow was $3.2 million in the fourth quarter of 2025.

Full Year 2025 Financial Highlights:

● Total revenues for the full year 2025 were $71.5 million, a new company record, compared to $61.0 million in 2024, representing 17.2% year-over-year growth, above the midpoint of our guidance of 15% to 18% growth, and marking six consecutive years of top-line growth.

● GAAP operating income for the full year 2025 was $8.3 million, or 11.6% of revenue, compared to GAAP operating income of $3.1 million, or 5.1% of revenue, for the full year 2024.

● Non-GAAP operating income for the full year 2025 was $14.8 million, or 20.6% of revenue, compared to non-GAAP operating income of $9.5 million, or 15.6% of revenue, for the full year 2024.

● GAAP net income for the full year 2025 was $12.0 million, or $0.71 per diluted share, compared to GAAP net income of $7.0 million, or $0.43 per diluted share, for the full year 2024.

● Non-GAAP net income for the full year 2025 amounted to $18.4 million, or $1.09 per diluted share, compared to non-GAAP net income of $13.5 million, or $0.83 per diluted share, for the full year 2024.

● Positive cash flow was $15.2 million in 2025. As of December 31, 2025, the company had cash and cash equivalents and short-term bank deposits of $109.9 million and no debt, ending the year with its highest-ever cash levels.

Outlook

RADCOM is providing full-year 2026 revenue growth guidance of 8% to 12%, implying revenue of $78.6 million at the guidance midpoint (10%).

Chairman of the Board Transition

The Company also announced that its Board of Directors has appointed an existing Board member, Mr. Rami Schwartz, as Chairman of the Board, effective February 8, 2026, succeeding Mr. Sami Totah. Mr. Rami Schwartz has served on RADCOM’s Board of Directors since July 2019 and brings deep experience in strategy, leadership, governance, and scaling technology businesses. Mr. Sami Totah will continue to serve as a member of the Company’s Board of Directors.

Conference Call and Webinar

RADCOM’s management will host an interactive conference call today, February 11, 2026, at 8:00 AM Eastern Time (3:00 PM Israel Standard Time) to discuss the financial results and answer participants’ questions.

Conference Call Access

To join the conference call, please dial +1-866-652-8972 (US toll-free) or +972-3-918-0609 for other locations. Please dial in 5 minutes before the scheduled start time. A recording will be available later the same day at https://radcom.com/financial-information/.

Audio Webinar Access

To access the audio webinar, log in at https://www.veidan-conferencing.com/radcom. Please log in at least 10 minutes before the start time to complete registration and install any required software. A replay will be available at the same link for 90 days following the event.

###

2

For all investor inquiries, please contact:

Investor Relations:

Rob Fink or Joey Delahoussaye

FNK IR

rdcm@fnkir.com

+1-646-809-4048 / +1-312-809-1087

Company Contact:

Hod Cohen

CFO

hod.cohen@radcom.com

+972-3-645-5055

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.

3

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) related to acquisitions, 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 guidance, momentum, scalability of the Company’s business model, and ongoing demand from telecom operators, sustainable, profitable growth and financial strength, increasing adoption of AI-driven assurance solutions, expanding its customer base, deepening its partnerships and continuing to lead in intelligent assurance and AI-driven analytics, 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, inability to timely develop and introduce new technologies, products, and applications, loss of market share and pressure on prices resulting from competition 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.

4

RADCOM LTD.

Consolidated Statements of Operations

Unaudited

(thousands of U.S. dollars, except share and per share data)

		Three months ended December 31,								Twelve months ended December 31,
		2025				2024				2025				2024
Revenues		$	18,857			$	16,264			$	71,494			$	61,009
Cost of revenues			4,370				4,137				17,193				15,746
Gross profit			14,487				12,127				54,301				45,263
Research and development, gross			5,407				4,749				20,239				18,659
Less - royalty-bearing participation			149				113				363				684
Research and development, net			5,258				4,636				19,876				17,975
Sales and marketing			4,739				4,632				19,683				17,794
General and administrative			1,804				1,549				6,439				6,407
Total operating expenses			11,801				10,817				45,998				42,176
Operating income			2,686				1,310				8,303				3,087
Financial income, net			1,207				1,080				4,283				4,115
Income before taxes on income			3,893				2,390				12,586				7,202
Taxes on income			251				142				595				234
Net income		$	3,642			$	2,248			$	11,991			$	6,968
Basic net income per ordinary share		$	0.22			$	0.14			$	0.74			$	0.44
Diluted net income per ordinary share		$	0.21			$	0.14			$	0.71			$	0.43
Weighted average number of ordinary shares used in computing basic net income per ordinary share			16,512,452				15,878,186				16,266,468				15,666,457
Weighted average number of ordinary shares used in computing diluted net income per ordinary share			17,039,753				16,612,554				16,835,529				16,155,150

5

RADCOM LTD.

Consolidated Statements of Operations

Unaudited

(thousands of U.S. dollars, except share and per share data)

		Three months ended December 31,								Twelve months ended December 31,
		2025				2024				2025				2024
GAAP gross profit		$	14,487			$	12,127			$	54,301			$	45,263
Stock-based compensation			89				91				387				381
Amortization of intangible assets			57				57				225				225
Non-GAAP gross profit		$	14,633			$	12,275			$	54,913			$	45,869
GAAP research and development, net		$	5,258			$	4,636			$	19,876			$	17,975
Stock-based compensation			468				497				1,776				2,047
Non-GAAP research and development, net		$	4,790			$	4,139			$	18,100			$	15,928
GAAP sales and marketing		$	4,739			$	4,632			$	19,683			$	17,794
Stock-based compensation			556				506				2,265				2,023
Amortization of intangible assets			29				29				115				116
Non-GAAP sales and marketing			4,154			$	4,097			$	17,303			$	15,655
GAAP general and administrative		$	1,804			$	1,549			$	6,439			$	6,407
Stock-based compensation			444				380				1,688				1,645
Non-GAAP general and administrative		$	1,360			$	1,169			$	4,751			$	4,762
GAAP total operating expenses		$	11,801			$	10,817			$	45,998			$	42,176
Stock-based compensation			1,468				1,383				5,729				5,715
Amortization of intangible assets			29				29				115				116
Non-GAAP total operating expenses		$	10,304			$	9,405			$	40,154			$	36,345
GAAP operating income		$	2,686			$	1,310			$	8,303			$	3,087
Stock-based compensation			1,557				1,474				6,116				6,096
Amortization of intangible assets			86				86				340				341
Non-GAAP operating income		$	4,329			$	2,870			$	14,759			$	9,524

6

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 December 31,								Twelve months ended December 31,
		2025				2024				2025				2024
GAAP income before taxes on income		$	3,893			$	2,390			$	12,586			$	7,202
Stock-based compensation			1,557				1,474				6,116				6,096
Amortization of intangible assets			86				86				340				341
Financial expenses (income)			(78	)			(28	)			(29	)			84
Non-GAAP income before taxes on income		$	5,458			$	3,922			$	19,013			$	13,723
GAAP net income		$	3,642			$	2,248			$	11,991			$	6,968
Stock-based compensation			1,557				1,474				6,116				6,096
Amortization of intangible assets			86				86				340				341
Financial expenses (income)			(78	)			(28	)			(29	)			84
Non-GAAP net income		$	5,207			$	3,780			$	18,418			$	13,489
GAAP net income per diluted share		$	0.21			$	0.14			$	0.71			$	0.43
Stock-based compensation			0.10				0.09				0.36				0.38
Amortization of intangible assets			(*	)			(*	)			0.02				0.02
Financial expenses (income)			(*	)			(*	)			(*	)			(*	)
Non-GAAP net income per diluted share		$	0.31			$	0.23			$	1.09			$	0.83
Weighted average number of shares used to compute diluted net income per share			17,039,753				16,612,554				16,835,529				16,155,150

(*) Less than $ 0.01

7

RADCOM LTD.

Consolidated Balance Sheets

(Unaudited)

(thousands of U.S. dollars)

		As of				As of
		December 31, 2025				December 31, 2024
Current Assets
Cash and cash equivalents		$	30,486			$	19,243
Short-term bank deposits			79,437				75,429
Trade receivables, net			20,245				19,038
Inventories			318				1,667
Other accounts receivable and prepaid expenses			2,036				1,819
Total Current Assets			132,522				117,196
Non-Current Assets
Severance pay fund			3,431				2,985
Other long-term receivables			2,866				3,484
Property and equipment, net			988				879
Operating lease right-of-use assets			2,898				3,421
Goodwill and intangible assets, net			2,269				2,609
Total Non-Current Assets			12,452				13,378
Total Assets		$	144,974			$	130,574
Liabilities and Shareholders’ Equity
Current Liabilities
Trade payables		$	2,632			$	2,457
Deferred revenues and advances from customers			1,100				6,848
Employee and payroll accruals			7,325				7,175
Operating lease liabilities			1,099				966
Other liabilities and accrued expenses			10,872				10,463
Total Current Liabilities			23,028				27,909
Non-Current Liabilities
Accrued severance pay			4,790				3,868
Operating lease liabilities			2,135				2,438
Other liabilities and accrued expenses			916				683
Total Non-Current Liabilities			7,841				6,989
Total Liabilities		$	30,869			$	34,898
Shareholders’ Equity
Share capital		$	809			$	769
Additional paid-in capital			167,172				160,761
Accumulated other comprehensive loss			(2,923	)			(2,910	)
Accumulated deficit			(50,953	)			(62,944	)
Total Shareholders’ Equity			114,105				95,676
Total Liabilities and Shareholders’ Equity		$	144,974			$	130,574

8

FAQ

How did RADCOM (RDCM) perform financially in full-year 2025?

RADCOM grew full-year 2025 revenue to $71.5 million, a 17.2% increase from 2024. GAAP net income rose to $11.99 million, reflecting significantly improved profitability alongside record operating margins in its AI-powered network assurance and analytics business.

What were RADCOM’s Q4 2025 revenue and net income results?

In Q4 2025, RADCOM generated $18.86 million in revenue, up from $16.26 million a year earlier. Quarterly GAAP net income reached $3.64 million, compared with $2.25 million in Q4 2024, demonstrating continued top-line growth and margin expansion exiting the year.

What revenue guidance did RADCOM (RDCM) provide for 2026?

RADCOM issued full-year 2026 guidance for 8%–12% revenue growth. At the midpoint, this implies revenue of about $78.6 million, suggesting continued expansion following its record 2025 revenue base of $71.5 million in AI-driven assurance and analytics solutions.

What is RADCOM’s cash and debt position at the end of 2025?

RADCOM ended 2025 with record cash levels of $109.9 million and no debt. The balance sheet shows strong liquidity, supported by $30.49 million in cash and equivalents plus $79.44 million in short-term bank deposits as of December 31, 2025.

How profitable was RADCOM in 2025 on a non-GAAP basis?

For 2025, RADCOM reported non-GAAP net income of $18.42 million and non-GAAP diluted EPS of $1.09. These figures exclude stock-based compensation, acquisition-related financial items, and amortization of acquisition intangibles to highlight underlying operating performance trends versus prior-year results.

What leadership change did RADCOM announce for its Board of Directors?

RADCOM’s board appointed Rami Schwartz, an existing director since 2019, as Chairman of the Board effective February 8, 2026. He succeeds Sami Totah, who will continue to serve as a member of the company’s Board of Directors.

When is RADCOM’s call to discuss Q4 and full-year 2025 results?

Management scheduled an interactive conference call for February 11, 2026 at 8:00 a.m. Eastern Time (3:00 p.m. Israel time). Investors can join via the provided U.S. and international dial-in numbers or access an audio webinar and replay through the listed web links.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 PRESS RELEASE, DATED FEBRUARY 11, 2026, REPORTING THE REGISTRANT'S FOURTH QUARTE 138.3 KB