- Radware Ltd (NASDAQ:RDWR) reported fourth-quarter FY21 revenue growth of 11% year-on-year to $76.6 million, surpassing the consensus of $75.3 million.
- Revenue in the Americas region rose 14% Y/Y to $31.2 million, Europe, Middle East, and Africa (EMEA) region increased 23% Y/Y to $29.7 million, and Asia-Pacific (APAC) region declined 10% Y/Y to $15.7 million.
- The non-GAAP gross margin stood at 82.3%, down 70 bps.
- Non-GAAP EPS of $0.22 beat the consensus of $0.21.
- Radware generated $28.9 million in operating cash flow and held $465.8 million in cash and equivalents.
- "We executed well, achieving double-digit revenue growth each quarter and for the full year, and record revenue for Q4 and 2021. We also grew our subscription business to more than 30% of total revenue, achieved healthy operating income and earnings per share, and generated record cash flow from operations," said CEO Roy Zisapel.
- "In 2021, we witnessed an increased demand for our security solutions. The total addressable market is large and offers tremendous opportunities in the future."
- Price Action: RDWR shares closed lower by 0.09% at $34.02 on Tuesday.
