Radware Misses On Q2 As Macro Headwinds Led To Delays In Deal Closures; Clocks 8% Revenue Growth
Radware Ltd (NASDAQ: RDWR) reported second-quarter FY22 revenue growth of 8% year-on-year to $75.1 million, missing the consensus of $75.5 million.
Revenue in the Americas region rose 6% Y/Y to $29.7 million, Europe, Middle East, and Africa (EMEA) region increased 24% Y/Y to $29.7 million, and Asia-Pacific (APAC) region declined 10% Y/Y to $15.7 million.
The non-GAAP gross margin expanded by 100 bps to 83.3%.
Non-GAAP EPS of $0.18 missed the consensus of $0.19.
Radware generated $31.5 million in operating cash flow and held $442 million in cash and equivalents.
"We delivered solid revenue and earnings results in the second quarter. Our solutions, which protect our customers' most critical applications and data centers in real time against cyber-attacks, are more critical to their businesses than ever before," said Roy Zisapel, Radware's president and CEO. "We have witnessed some delays in closing deals due to macro environment conditions that may have an impact on our short-term results."
Price Action: RDWR shares closed lower by 1.24% at $23.91 on Friday.
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