Radware Ltd. (NASDAQ:RDWR) Q3 2024 Earnings Call Transcript October 31, 2024 8:30 AM ET

Company Participants

Yisca Erez - Director, IR
Roy Zisapel - President and CEO
Guy Avidan - CFO

Conference Call Participants

George Notter - Jefferies
Chris Reimer - Barclays
Ryan Koontz - Needham & Company

Operator

Welcome to the Radware Conference Call discussing Third Quarter 2024 Results, and thank you all for holding. As a reminder, this conference is being recorded October 31, 2024. I would now like sto 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 third 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 third 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 estimates. Factors that could cause or contribute to such differences include, but are not limited to, impact from the changing or severe global economic conditions, 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 filings.

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. I'm pleased to report another solid quarter, which exceeded our guidance. We achieved 13% year-over-year revenue growth while successfully managing our operating expense. Given the strong leverage in our business model, we recorded substantial increase in non-GAAP EPS in the quarter, delivering earnings of $0.23 per share, more than triple the EPS recorded in the third quarter of 2023. These results underscore the significant progress we are making in executing against our strategy, despite the challenging economic environment and cautious spending behavior of our customers.