The following is a summary of the Radware Ltd. (RDWR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Radware reported robust Q3 2024 earnings with a revenue of $69.5 million, reflecting a 13% year-over-year growth.

• Non-GAAP EPS for Q3 was $0.23, significantly higher than the $0.07 of Q3 2023.

• Subscription revenue now constitutes 47% of total revenue, underlining a shift towards recurring revenue models.

• Gross margin expanded by 120 basis points to 82.3%.

• Operating income was $7.2 million, a turnaround from an operating loss of $0.5 million in Q3 2023.

Business Progress:

• Radware continued to strengthen its cloud security business, achieving a 15% growth in cloud ARR with significant new customer additions.

• DefensePro X product refresh contributed notably to revenue, with substantial deals closed, reflecting high demand for upgraded cybersecurity solutions.

• Strategic partnerships with major firms like Cisco and Check Point helped to push record numbers in total bookings.

• Launched new cloud services including the Threat Intelligence Service and AI SOC expert for DDoS, enhancing their cloud security offerings.

Opportunities:

• The expansion of the cloud security network and suite, alongside the shift towards subscription models, presents considerable growth potential.

• Opportunity in leveraging advanced AI and machine learning algorithms integrated into new products like DefensePro X and next-generation security services.

Risks:

• Despite robust growth, Radware notes a caution due to challenging economic conditions and conservative customer spending behaviors.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.