Radware (NASDAQ: RDWR) Q1 2026 results show $79.8M revenue and solid cash

Rhea-AI Filing Summary

Radware Ltd. reported first quarter 2026 results with revenue of $79.8 million, up from $72.0 million a year earlier, reflecting double‑digit growth led by cloud security and API protection offerings.

GAAP net income from continuing operations was $6.1 million, or $0.14 per diluted share, compared with $6.6 million, or $0.15 per diluted share, in first quarter 2025. Non‑GAAP net income from continuing operations was $13.4 million, or $0.30 per diluted share, versus $13.6 million, or $0.31 per diluted share, as a stronger Israeli shekel increased expenses.

Cash, cash equivalents, deposits and marketable securities totaled $433.8 million as of March 31, 2026, and continuing operations generated operating cash flow of $19.9 million in the quarter. Results of subsidiary SkyHawk are classified as discontinued operations, and prior‑year figures were restated to reflect this change.

Insights

Equity research analyst

Radware delivered double‑digit Q1 2026 revenue growth with stable non‑GAAP profitability and solid cash generation.

Radware posted revenue of $79.8 million for the quarter ended March 31, 2026, up from $72.0 million. Management highlighted strength in cloud security, new API protection offerings, and on‑prem DDoS products, with notable execution in North America.

GAAP net income from continuing operations was $6.1 million versus $6.6 million a year earlier, while non‑GAAP net income from continuing operations was broadly stable at $13.4 million compared with $13.6 million. The company noted that Israeli shekel appreciation adversely affected expenses; excluding foreign‑exchange effects, non‑GAAP net income would have been $15.6 million.

Radware ended the quarter with $433.8 million in cash, equivalents, deposits, and marketable securities and generated $19.9 million of operating cash flow from continuing operations. Results of the SkyHawk subsidiary are now treated as discontinued operations, and prior‑year figures were adjusted to maintain comparability.

Key Figures

Q1 2026 Revenue: $79.8 million Q1 2025 Revenue: $72.0 million GAAP net income (continuing ops): $6.1 million +5 more

8 metrics

Q1 2026 Revenue $79.8 million Revenue for the quarter ended March 31, 2026

Q1 2025 Revenue $72.0 million Revenue for the quarter ended March 31, 2025

GAAP net income (continuing ops) $6.1 million Q1 2026 net income from continuing operations

GAAP diluted EPS (continuing ops) $0.14 per share Q1 2026 diluted earnings per share from continuing operations

Non-GAAP net income (continuing ops) $13.4 million Q1 2026 non-GAAP net income from continuing operations

Non-GAAP diluted EPS (continuing ops) $0.30 per share Q1 2026 non-GAAP diluted EPS from continuing operations

Cash and investments $433.8 million Cash, equivalents, deposits and marketable securities as of March 31, 2026

Operating cash flow (continuing ops) $19.9 million Cash flow from continuing operating activities in Q1 2026

Key Terms

non-GAAP net income, discontinued operations, annual recurring revenue (ARR), EBITDA, +1 more

5 terms

non-GAAP net income financial

"Non-GAAP net income from continuing operations for the first quarter of 2026 was 13.4 million"

Non-GAAP net income is a company's profit figure that excludes certain costs or income that are included in standard accounting methods. Companies often use it to show what their earnings might look like without one-time expenses or other unusual items, helping investors see the company's core performance more clearly.

discontinued operations financial

"the results of our subsidiary, SkyHawk, have been classified as discontinued operations"

Discontinued operations are parts of a company that it has decided to sell or shut down, and no longer plans to run in the future. This matters to investors because it helps them understand which parts of the business are ongoing and which are being phased out, providing a clearer picture of the company’s current performance and future prospects. Think of it like a store closing a department—it no longer contributes to sales or profits.

annual recurring revenue (ARR) financial

"Annual recurring revenue ("ARR") is a key performance indicator defined as the annualized value of booked orders"

Annual Recurring Revenue (ARR) is the predictable amount of money a company expects to earn in a year from its ongoing services or subscriptions. It helps businesses understand their steady income stream, much like knowing how much rent they can count on each year, which is important for planning and growth.

EBITDA financial

"RECONCILIATION OF GAAP NET INCOME TO EBITDA AND ADJUSTED EBITDA (NON-GAAP)"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

share-based compensation financial

"Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses"

Share-based compensation is when a company pays employees, executives or directors with its own stock or rights to buy stock instead of, or in addition to, cash. Think of it like receiving store gift cards instead of extra paycheck — it can motivate staff to boost the company’s value, but it also increases the number of shares outstanding and can shrink each existing owner’s slice of profits and voting power. Investors watch it because it affects reported earnings, share count and the alignment between management and shareholders.

Form 6-K: How Foreign Companies Report to the SEC →

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 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission file number: 0-30324

RADWARE LTD.

(Name of registrant)

22 Raoul Wallenberg Street, Tel Aviv 6971917, Israel

(Address of principal executive office)

_____________________

        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 ☐

        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

        Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

CONTENTS

This report on Form 6-K of Radware Ltd. consists of the following documents, which are attached hereto and incorporated by reference herein:

1. Radware Reports First Quarter Financial Results, dated May 7, 2026

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.

 

	RADWARE LTD
Date: May 7, 2026	By:	/s/ Gadi Meroz
		Gadi Meroz
		Vice President & General Counsel

 

EXHIBIT INDEX

Exhibit Number	Description of Exhibits
99.1	Radware Reports First Quarter Financial Results

Exhibit 99.1

Radware Reports First Quarter 2026 Financial Results

First Quarter 2026 Financial Results and Highlights

• Revenue of $79.8 million, an increase of 11% year-over-year

• Cloud ARR of $98 million, an increase of 23% year-over-year

• Non-GAAP diluted EPS from continuing operations of $0.30; GAAP diluted EPS from continuing operations of $0.14

• Cash flow provided by continuing operations of $19.9 million dollars

TEL AVIV, Israel, May 7, 2026 - Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced its consolidated financial results for the first quarter ended March 31, 2026.

“We delivered a strong start to 2026, marked by solid execution across the business and sustained double‑digit revenue growth,” said Roy Zisapel, president and CEO of Radware. “Growth in the quarter was led by our cloud security business supported by strong momentum in our new API Protection, while our on‑prem DDoS protection portfolio, led by DefensePro X, performed exceptionally well. We also saw outstanding execution in North America, reflecting the strength of our go‑to‑market strategy. These results demonstrate the progress we are making in executing our strategy as we scale our platform and capitalize on the growing opportunities in cloud and API security.”

Financial Highlights for the First Quarter 2026

Revenue for the first quarter of 2026 totaled $79.8 million:

• Revenue in the Americas region was $38.4 million for the first quarter of 2026, an increase of 40% from $27.4 million in the first quarter of 2025.

• Revenue in the Europe, Middle East, and Africa (“EMEA”) region was $25.1 million for the first quarter of 2026, a decrease of 11% from $28.3 million in the first quarter of 2025.

• Revenue in the Asia-Pacific (“APAC”) region was $16.3 million for the first quarter of 2026, the same as in the first quarter of 2025.

GAAP net income from continuing operations for the first quarter of 2026 was $6.1 million, or $0.14 per diluted share, compared to GAAP net income from continuing operations of $6.6 million, or $0.15 per diluted share, for the first quarter of 2025.

Non-GAAP net income from continuing operations for the first quarter of 2026 was $13.4 million, or $0.30 per diluted share, compared to non-GAAP net income from continuing operations of $13.6 million, or $0.31 per diluted share, for the first quarter of 2025.

The appreciation of the Israeli shekel against the U.S. dollar had an adverse impact on expenses during the first quarter. Excluding the effect of foreign exchange movements compared to last year, non-GAAP net income and non-GAAP diluted EPS would have been $15.6 million and $0.35 respectively, compared to non-GAAP net income of $13.6 million, or $0.31 per diluted share, for the first quarter of 2025.

As of March 31, 2026, the Company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities of $433.8 million. Cash flow provided by continuing operations was $19.9 million in the first quarter of 2026.

Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. A reconciliation of each of the Company’s non-GAAP measures to the most directly comparable GAAP measure is included at the end of this press release.

As announced last quarter, the results of our subsidiary, SkyHawk, have been classified as discontinued operations effective the first quarter of 2026 and are presented accordingly. As a result, all financial results discussed today relate solely to continuing operations. In connection with this change, the previously reported Hawks segment will no longer be presented separately. Comparative prior‑year figures have been adjusted to align with this presentation and ensure consistency.

Conference Call

Radware management will host a call today, May 7, 2026, at 8:30 a.m. ET to discuss its first quarter 2026 results and second quarter 2026 outlook. To participate in the call, please use the following the following link: Q1 2026 earnings call registration link.

A replay of the call will be available within approximately 24 hours of the live event on the Investors section of Radware’s website at: https://www.radware.com/ir/financial-reports/.

Use of Non-GAAP Financial Information and Key Performance Indicators

In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), Radware uses non-GAAP measures of gross profit, research and development expense, selling and marketing expense, general and administrative expense, total operating expenses, operating income, financial income, net, income before taxes on income, taxes on income, net income and diluted earnings per share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. Management believes that exclusion of these charges allows for meaningful comparisons of operating results across past, present, and future periods. Radware’s management believes the non-GAAP financial measures provided in this release are useful to investors for the purpose of understanding and assessing Radware’s ongoing operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP financial measures in evaluating and operating the business and, as such, has determined that it is important to provide this information to investors.

Annual recurring revenue ("ARR") is a key performance indicator defined as the annualized value of booked orders for term-based cloud services, subscription licenses, and maintenance contracts that are in effect at the end of a reporting period. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items.  ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates and does not include revenue reported as perpetual license or professional services revenue in our consolidated statement of operations. We consider ARR a key performance indicator of the value of the recurring components of our business.

Safe Harbor Statement

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Any forward-looking statements made herein that are not statements of historical fact, including statements about Radware’s plans, objectives, expectations, beliefs, projections, future financial performance, business strategies, market opportunities, and developments in our industry, are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “forecast,” “target,” and similar expressions, as well as future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.”

Because such statements deal with future events, they are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global market and economic conditions; our dependence on independent distributors; disruptions in our supply chain, including shortages of components or manufacturing capacity; our reliance on a limited number of vendors; our ability to attract, train and retain qualified personnel; intense competition in the cybersecurity and application delivery markets; our ability to develop new solutions and enhance existing solutions; risks related to defects, vulnerabilities or failures in our products or services, including cybersecurity incidents affecting our systems or those of our customers; risks associated with the use of artificial intelligence technologies, including evolving regulatory frameworks, litigation exposure and reputational considerations; risks related to our information technology systems, including failures, disruptions or security breaches; outages, interruptions, or delays in hosting or cloud-based services; risks related to the interoperability of our products; risks associated with our global operations; and geopolitical risks, including instability in the Middle East and Israel.

These factors are not exhaustive. For a more detailed description of the risks and uncertainties affecting Radware, please refer to Radware’s Annual Report on Form 20-F and other reports filed with or furnished to the Securities and Exchange Commission (SEC) from time to time.

Forward-looking statements speak only as of the date on which they are made, and, except as required by applicable law, Radware undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of such statements. Radware’s public filings are available from the SEC’s website at www.sec.gov or on Radware’s website at www.radware.com.

###

About Radware

Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, API, and AI security solutions use AI-driven algorithms for precise, behavior-based, real-time protection against sophisticated web, application, and DDoS attacks, API abuse, business logic threats, and malicious bots. Radware delivers end-to-end API security, including discovery, posture management, testing, and runtime protection, along with advanced protection for AI agents and models. Enterprises and carriers worldwide rely on Radware to address evolving cyberthreats, protect their brands and business operations, and reduce costs. For more information, please visit the Radware website.

Radware encourages you to join our community and follow us on Facebook,  LinkedIn, Radware Blog, X, and YouTube.

©2026 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

CONTACTS

Investor Relations:

Yisca Erez, +972-72-3917211, ir@radware.com

Media Contact:

Gina Sorice, ginaso@radware.com

Radware Ltd.

Condensed Consolidated Balance Sheets

(U.S. Dollars in thousands)

		March 31,				December 31,
		2026				2025
		(Unaudited)				(Unaudited)
Assets
Current assets
Cash and cash equivalents			108,812				102,748
Marketable securities			15,550				15,900
Short-term bank deposits			127,447				129,961
Trade receivables, net			31,935				34,604
Other receivables and prepaid expenses			11,132				10,639
Inventories			13,130				13,220
Current assets held for sale			7,056				9,435
			315,062				316,507
Long-term investments
Marketable securities			72,006				71,398
Long-term bank deposits			110,004				131,922
Other assets			2,935				2,830
			184,945				206,150
Property and equipment, net			17,178				16,387
Goodwill and intangible assets, net			78,502				72,159
Other long-term assets			42,165				40,641
Operating lease right-of-use assets			14,999				15,456
Long-term assets held for sale			3,599				3,865
Total assets			656,450				671,165
Liabilities and equity
Current liabilities
Trade payables			6,499				7,231
Deferred revenues			121,506				111,917
Operating lease liabilities			4,817				4,862
Other payables and accrued expenses			63,312				67,948
Current liabilities held for sale			2,158				2,325
			198,292				194,283
Long-term liabilities
Deferred revenues			70,785				65,764
Operating lease liabilities			11,549				11,970
Other long-term liabilities			7,583				8,464
Long-term liabilities held for sale			20				-
			89,937				86,198
Equity
Radware Ltd. equity
Share capital			772				770
Additional paid-in capital			584,160				578,652
Accumulated other comprehensive income (loss)			(166	)			1,393
Treasury stock, at cost			(407,599	)			(377,561	)
Retained earnings			149,651				146,107
Total Radware Ltd. shareholder's equity			326,818				349,361
Non–controlling interest			41,403				41,323
Total equity			368,221				390,684
Total liabilities and equity			656,450				671,165

Radware Ltd.

Condensed Consolidated Statements of Income

(U.S Dollars in thousands, except share and per share data)

		For the three months ended
		March 31,
		2026				2025
		(Unaudited)				(Unaudited)
Revenues			79,813				72,022
Cost of revenues			15,112				13,562
Gross profit			64,701				58,460
Operating expenses, net:
Research and development, net			21,103				17,552
Selling and marketing			32,592				30,640
General and administrative			6,488				6,232
Total operating expenses, net			60,183				54,424
Operating income			4,518				4,036
Financial income, net			3,772				4,662
Income before taxes on income from continuing operations			8,290				8,698
Taxes on income			2,169				2,100
Net income from continuing operations			6,121				6,598
Loss from discontinued operations			(2,577	)			(2,254	)
Net income			3,544				4,344
Basic net income per share attributed to Radware Ltd.'s shareholders:
Continuing operations			0.14				0.15
Discontinued operations			(0.06	)			(0.05	)
Total basic net income per share attributed to Radware Ltd.'s shareholders			0.08				0.10
Weighted average number of shares used to compute basic net income per share			42,794,944				42,663,787
Diluted net income per share attributed to Radware Ltd.'s shareholders:
Continuing operations			0.14				0.15
Discontinued operations			(0.06	)			(0.05	)
Total diluted net income per share attributed to Radware Ltd.'s shareholders			0.08				0.10
Weighted average number of shares used to compute diluted net income per share			44,497,774				44,192,474

Radware Ltd.

Reconciliation of GAAP to Non-GAAP Financial Information

(U.S Dollars in thousands, except share and per share data)

		For the three months ended
		March 31,
		2026				2025
		(Unaudited)				(Unaudited)
GAAP gross profit			64,701				58,460
Share-based compensation			166				120
Amortization of intangible assets			732				733
Non-GAAP gross profit			65,599				59,313
GAAP research and development, net			21,103				17,552
Share-based compensation			1,688				1,135
Non-GAAP research and development, net			19,415				16,417
GAAP selling and marketing			32,592				30,640
Share-based compensation			2,652				3,053
Non-GAAP selling and marketing			29,940				27,587
GAAP general and administrative			6,488				6,232
Share-based compensation			1,002				1,371
Acquisition costs			289				153
Non-GAAP general and administrative			5,197				4,708
GAAP total operating expenses, net			60,183				54,424
Share-based compensation			5,342				5,559
Acquisition costs			289				153
Non-GAAP total operating expenses, net			54,552				48,712
GAAP operating income			4,518				4,036
Share-based compensation			5,508				5,679
Amortization of intangible assets			732				733
Acquisition costs			289				153
Non-GAAP operating income			11,047				10,601
GAAP financial income, net			3,772				4,662
Exchange rate differences, net on balance sheet items included in financial income, net			774				509
Non-GAAP financial income, net			4,546				5,171
GAAP income before taxes on income from continuing operations			8,290				8,698
Share-based compensation			5,508				5,679
Amortization of intangible assets			732				733
Acquisition costs			289				153
Exchange rate differences, net on balance sheet items included in financial income, net			774				509
Non-GAAP income before taxes on income from continuing operations			15,593				15,772
GAAP taxes on income			2,169				2,100
Tax related adjustments			62				62
Non-GAAP taxes on income			2,231				2,162
GAAP net income from continuing operations			6,121				6,598
Share-based compensation			5,508				5,679
Amortization of intangible assets			732				733
Acquisition costs			289				153
Exchange rate differences, net on balance sheet items included in financial income, net			774				509
Tax related adjustments			(62	)			(62	)
Non-GAAP net income from continuing operations			13,362				13,610
Non-GAAP loss from discontinued operations			2,294				1,793
Non-GAAP net income			11,068				11,817
GAAP diluted net income per share from continuing operations			0.14				0.15
Share-based compensation			0.12				0.13
Amortization of intangible assets			0.01				0.02
Acquisition costs			0.01				0.00
Exchange rate differences, net on balance sheet items included in financial income, net			0.02				0.01
Tax related adjustments			(0.00	)			(0.00	)
Non-GAAP diluted net earnings per share from continuing operations			0.30				0.31
Non-GAAP diluted net loss per share from discontinued operations			(0.05	)			(0.04	)
Non-GAAP diluted net earnings per share			0.25				0.27
Weighted average number of shares used to compute non-GAAP diluted net earnings per share			44,497,774				44,192,474

Radware Ltd.

Condensed Consolidated Statements of Cash Flow

(U.S. Dollars in thousands)

		For the three months ended
		March 31,
		2026				2025
		(Unaudited)				(Unaudited)
Cash flow from operating activities:
Net income			3,544				4,344
Loss from discontinued operations activities			2,577				2,254
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			2,594				2,882
Share-based compensation			5,508				5,679
Amortization of premium, accretion of discounts and accrued interest on marketable securities, net			25				(161	)
Decrease in accrued interest on bank deposits			(468	)			(1,601	)
Increase (decrease) in accrued severance pay, net			(287	)			61
Decrease (increase) in trade receivables, net			2,669				(8,186	)
Increase in other receivables and prepaid expenses and other long-term assets			(3,076	)			(160	)
Decrease in inventories			90				519
Decrease in trade payables			(732	)			(1,840	)
Increase in deferred revenues			14,610				17,732
Increase (decrease) in other payables and accrued expenses			(7,119	)			3,281
Operating lease liabilities, net			(9	)			(228	)
Net cash provided by operating activities - continuing operations			19,926				24,576
Net cash used in operating activities - discontinued operations			(2,286	)			(2,134	)
Net cash provided by operating activities			17,640				22,442
Cash flows from investing activities:
Purchase of property and equipment			(2,653	)			(1,111	)
Proceeds from other long-term assets, net			16				109
Proceeds from (investment in) bank deposits, net			24,900				(27,112	)
Investment in, redemption of and purchase of marketable securities, net			(798	)			16,194
Acquisition of subsidiary, net of cash acquired			(5,938	)			-
Proceeds from other deposits			-				5,000
Net cash provided by (used in) investing activities - continuing operations			15,527				(6,920	)
Net cash provided by (used in) investing activities - discontinued operations			3,001				(1	)
Net cash provided by (used in) investing activities			18,528				(6,921	)
Cash flows from financing activities:
Proceeds from exercise of share options			3				1
Repurchase of shares			(29,392	)			-
Net cash provided by (used in) financing activities - continuing operations			(29,389	)			1
Net cash provided by financing activities - discontinued operations			-				3
Net cash provided by (used in) financing activities			(29,389	)			4
Increase in cash and cash equivalents			6,779				15,525
Cash and cash equivalents at the beginning of the period			105,078				98,714
Cash and cash equivalents at the end of the period			111,857				114,239
Less cash and cash equivalents of discontinued operations			(3,045	)			(741	)
Cash and cash equivalents at the end of the period - continuing operations			108,812				113,498

Radware Ltd.

RECONCILIATION OF GAAP NET INCOME TO EBITDA AND ADJUSTED EBITDA (NON-GAAP)

(U.S Dollars in thousands)

		For the three months ended
		March 31,
		2026				2025
		(Unaudited)				(Unaudited)
GAAP net income for continuing operations			6,121				6,598
Exclude: Financial income, net			(3,772	)			(4,662	)
Exclude: Depreciation and amortization expense			2,594				2,882
Exclude:  Taxes on income			2,169				2,100
EBITDA			7,112				6,918
Share-based compensation			5,508				5,679
Acquisition costs			289				153
Adjusted EBITDA for continuing operations			12,909				12,750

		For the three months ended
		March 31,
			2026				2025
Amortization of intangible assets			732				733
Depreciation			1,862				2,149
			2,594				2,882

FAQ

How did Radware (RDWR) perform financially in Q1 2026?

Radware reported Q1 2026 revenue of $79.8 million, up from $72.0 million a year earlier. GAAP net income from continuing operations was $6.1 million, or $0.14 per diluted share, reflecting solid growth with slightly lower earnings per share.

What were Radware’s Q1 2026 non-GAAP earnings from continuing operations?

Radware’s non-GAAP net income from continuing operations in Q1 2026 was $13.4 million, or $0.30 per diluted share. This compares with $13.6 million, or $0.31 per diluted share, in Q1 2025, showing essentially stable underlying profitability.

How did foreign exchange impact Radware’s Q1 2026 results?

Radware stated that appreciation of the Israeli shekel against the U.S. dollar increased expenses in Q1 2026. Excluding this effect, non-GAAP net income would have been $15.6 million and diluted EPS $0.35, compared with non-GAAP net income of $13.6 million last year.

What was Radware’s cash and investment position at March 31, 2026?

As of March 31, 2026, Radware held $433.8 million in cash, cash equivalents, short- and long-term bank deposits, and marketable securities. This liquidity base supports ongoing operations and reflects cash flow from the business and balance sheet management during the quarter.

How much operating cash flow did Radware generate in Q1 2026?

Radware generated $19.9 million of cash flow from continuing operations in Q1 2026. This figure reflects net income plus non-cash items and working capital changes, demonstrating the company’s ability to convert earnings into cash during the period.

How are SkyHawk’s results presented in Radware’s 2026 financials?

Radware classified its SkyHawk subsidiary as discontinued operations starting Q1 2026. All financial results now focus on continuing operations, and prior-year figures were adjusted to align with this presentation for consistent comparisons across periods.

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