RDWR · Radware Ltd.

Radware delivered a strong Q1 2026 with revenue growth of 11% to $79.8 million, driven primarily by 40% expansion in the Americas to $38.4 million, offsetting an 11% decline in EMEA to $25.1 million while APAC held steady at $16.3 million. CEO Roy Zisapel highlighted solid execution, with cloud security leading growth via new API Protection and on-prem DDoS portfolio, particularly DefensePro X, performing exceptionally in North America. Cloud ARR surged 23% to $98 million, underscoring recurring revenue momentum. Non-GAAP profitability remained resilient at $0.30 diluted EPS despite shekel appreciation pressures on expenses; adjusted for FX, it would have reached $0.35. GAAP net income from continuing operations dipped slightly to $6.1 million or $0.14 per share. Operating cash flow strengthened to $19.9 million, bolstering liquidity with $433.8 million in cash and investments as of March 31. SkyHawk results shifted to discontinued operations, refining continuing ops focus. Balance sheet shows total assets at $656.5 million versus $671.2 million at year-end, with equity at $368.2 million. Management will discuss Q2 outlook on the May 7 call. Non-GAAP excludes stock-based compensation, intangibles amortization, litigation, and other items for comparability.