Radware Ltd. (NASDAQ:RDWR) Q2 2024 Earnings Conference Call July 31, 2024 8:30 AM ET

Company Participants

Yisca Erez – Director, Investor Relations
Roy Zisapel – President and Chief Executive Officer
Guy Avidan – Chief Financial Officer

Conference Call Participants

Alex Henderson – Needham
Chris Reimer – Barclays
George Notter – Jefferies
Alex Henderson – Needham

Operator

Hello, and welcome to the Radware Conference Call discussing Second Quarter 2024 Results. Thank you all for holding. You will have the opportunity to ask questions to our speakers later on in the Q&A session. [Operator Instructions] As a reminder, this conference is being recorded July 31, 2024.

I would now like to turn this call over to Yisca Erez, Director, Investor Relations at Radware. Please go ahead.

Yisca Erez

Thank you, operator. Good morning, everyone, and welcome to Radware’s second quarter 2024 earnings conference call. Joining me today are Roy Zisapel, President and Chief Executive Officer; and Guy Avidan, Chief Financial Officer. A copy of today’s press release and financial statements, as well as the investor kit for the second quarter are available in the Investor Relations section of our website.

During today’s call, we may make projections or other forward-looking statements regarding future events or the future financial performance of the company. These forward-looking statements are subject to various risks and uncertainties, and actual results could differ materially from Radware’s current forecast and estimate.

Factors that could cause or contribute to such differences include, but are not limited to, impact from changing or severe global economic conditions, the COVID-19 pandemic, general business conditions and our ability to address changes in our industry, changes in demand for products, the timing in the amount of orders and other risks detailed from time to time in Radware’s filing.

We refer you to the documents the company files and furnishes from time to time with the SEC, specifically, the company’s last Annual Report on Form 20-F as filed on March 18, 2024. We undertake no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date of such statement is made.

I will now turn the call to Roy Zisapel.

Roy Zisapel

Thank you, Yisca, and thank you all for joining us today. We ended the second quarter of 2024 with revenues of $67 million and non-GAAP earnings per share of $0.20, all succeeding the high end of our guidance. These results were driven by our cloud security business with cloud ARR growing 19% year-over-year.