Welcome to our dedicated page for Radcom Ltd. news (Ticker: RDCM), a resource for investors and traders seeking the latest updates and insights on Radcom Ltd. stock.
Radcom Ltd. (Nasdaq: RDCM) is a leading provider of innovative service assurance and customer experience management solutions for telecom operators worldwide. Established in Israel, Radcom specializes in advanced network intelligence solutions designed to transition telecom operators to next-generation mobile and fixed networks, including LTE, VoLTE, IMS, VoIP, UMTS/GSM, and 5G. Radcom's core offerings, such as Radcom Network Visibility, Radcom Service Assurance, and Radcom Network Insights, enable operators to optimize network performance, prevent revenue leakage, and enhance customer care management.
Radcom's flagship product, Radcom ACE, is a 5G-ready, cloud-native network intelligence platform that employs big data analytics and AI-driven insights to deliver comprehensive network analysis from the RAN to the core. Recently, Radcom launched the Virtual Drive Test (VDT) solution, significantly reducing drive test costs and improving 5G service coverage using advanced AI to analyze real user insights.
Radcom's financial performance has shown consistent growth. In the second quarter of 2023, the company achieved record revenues of $12.4 million, marking the 16th consecutive quarter of year-over-year growth. The third quarter saw an increase to $13.2 million, maintaining this positive trajectory. For the full year 2023, Radcom reported record revenues of $51.6 million, a 12% growth year-over-year, and scaled up to a mid-size software company for the first time. The company remains debt-free with positive cash flow totaling $82.2 million.
Key partnerships include ongoing collaborations with Rakuten Mobile in Japan and a U.S. telecom operator, leveraging Radcom ACE hosted on Amazon Web Services. Radcom's solutions are also used by WINDTRE in Italy to enhance mobile service quality and reduce environmental impact.
As of 2024, Radcom has secured over $45 million in new contracts, underscoring its strong market position and the effectiveness of its innovative solutions. The company is committed to sustaining growth and profitability, with a focus on expanding its market presence and delivering cutting-edge technology to telecom operators globally.
RADCOM (NASDAQ: RDCM) has announced its participation in the Benchmark 13th Annual Discovery One-on-One Investor Conference. The event is scheduled for December 11, 2024, in New York. Hadar Rahav, the company's Chief Financial Officer, will be present at the conference and available for individual investor meetings. Interested parties can arrange meetings through their Benchmark representatives.
RADCOM (NASDAQ: RDCM) reported strong Q3 2024 financial results with revenue reaching $15.8 million, up 20% year-over-year. The company achieved GAAP net income of $2.3 million ($0.14 EPS) compared to a net loss in Q3 2023. Cash position reached a record $90.2 million. For the first nine months of 2024, revenue grew 19% to $44.8 million with GAAP net income of $4.7 million. Following these results, RADCOM raised its 2024 revenue guidance to $59-62 million. The company also announced the appointment of Mr. Benny Eppstein as new CEO effective December 1st, 2024.
RADCOM (Nasdaq: RDCM) has appointed Benny Eppstein as its new Chief Executive Officer, effective December 1st, 2024. Eppstein brings over 20 years of telecom industry experience from Ericsson and Amdocs, where he held key leadership positions including General Manager and Division President for Canada. He previously managed relationships with major operators like Sprint, T-Mobile, and Softbank Mobile. Following this appointment, current Interim CEO Hilik Itman will return to his role as Chief Operating Officer, focusing on product development, R&D, sales processes, and customer satisfaction.
RADCOM (Nasdaq: RDCM) announced a multi-year, low seven-figure contract with a North American operator to enhance its 5G RAN network service quality. The contract leverages RADCOM's advanced RAN Analysis solution, bolstered by Continual's analytics, acquired in May 2023. This integration improves RADCOM's cloud-focused assurance and intelligent analytics portfolio. The solution provides real-time insights into network performance, helping engineers prioritize and resolve issues efficiently, reducing workload, cutting costs, and enhancing customer satisfaction. The operator can now conduct on-demand RAN analysis, correlating radio, core, and geolocation data, optimizing Voice over New Radio (VoNR) services. This approach reduces the need for physical drive tests, lowering CO2 emissions.
RADCOM (Nasdaq: RDCM) announced its participation in the 18th Annual Needham Virtual Security, Networking, & Communications Conference on November 19, 2024. Interim CEO Hilik Itman and CFO Hadar Rahav will be available for virtual one-on-one investor meetings during the conference. Interested parties can schedule meetings through their Needham salesperson.
RADCOM (Nasdaq: RDCM) announced it will release its third quarter 2024 financial results on Wednesday, November 13, 2024, before Nasdaq's market opening. The company will host an interactive conference call at 8:00 AM Eastern Time (3:00 PM Israel Standard Time) on the same day to discuss results and answer questions. A live webcast will be available and archived for 90 days. The company provided toll-free numbers for US participants and international dial-in options for the conference call.
RADCOM (Nasdaq: RDCM) announced that Heli Bennun will step down as Executive Chairman on December 31, 2024, after 14 years with the company. The Board has nominated Sami Totah as her successor, effective January 1, 2025, subject to shareholder approval. Under Bennun's leadership since 2015, RADCOM has grown into a profitable company and established itself as a leading automated assurance provider in the 5G market.
Bennun expressed pride in the company's achievements, including expanding its customer base to include innovative telecom operators. Totah, the nominated successor, stated his commitment to advancing RADCOM's strategic initiatives and enhancing stakeholder value. The transition marks a significant change in leadership for the company, which has become a key player in cloud-based 5G network assurance solutions.
RADCOM (Nasdaq: RDCM) reported strong financial results for Q2 2024, with record quarterly revenues of $14.8 million, up 20% year-over-year. The company's net income increased by approximately 120% to $1.7 million, or $0.11 diluted EPS. RADCOM achieved a new milestone with cash and cash equivalents reaching $86.1 million.
Key highlights for H1 2024 include total revenues of $28.9 million, a 19% year-over-year growth, and GAAP net income of $2.5 million. The company secured over $50 million in new 5G contracts since the start of the year. Based on strong performance, RADCOM raised its 2024 revenue guidance to $58 to $61 million.
RADCOM (Nasdaq: RDCM) has announced its upcoming second quarter 2024 financial results conference call and webcast, scheduled for Wednesday, August 7, 2024, at 8:00 AM Eastern Time. The company will report its financial results for the quarter ended June 30, 2024, before the Nasdaq Stock Market opens. RADCOM's management will host an interactive conference call to discuss the results and answer questions.
A live webcast of the presentation will be available, and archived for 90 days. Participants can join the interactive call by dialing in from the US (toll-free) at +1-866-652-8972 or from other locations at +972-3-918-0644. A conference call replay will be accessible on RADCOM's investor relations webpage shortly after the call.
RADCOM (Nasdaq: RDCM) announced securing over $45 million in new contracts since January 2024. This milestone demonstrates the company's effective strategy to grow its business and revenue through innovative solutions, particularly in cloud-based 5G networks.
Interim CEO Hilik Itman emphasized the company's leading position in providing cloud-based solutions for telecom operators transitioning to 5G. Itman highlighted that these new contracts will help expand solution deployments and drive future growth, reflecting RADCOM's commitment to meeting customer needs with advanced technology.
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