Radware Ltd. - RDWR STOCK NEWS

Radware (NASDAQ: RDWR) has reported an alarming rise in DDoS extortion threats from a group known as Fancy Lazarus. With numerous companies onboarded in response to these threats, the ransom demands now vary from 0.5 to 5 Bitcoin ($18,500 to $185,000), significantly lower than previous campaigns that demanded up to 20 Bitcoin. The attackers are increasingly targeting organizations lacking adequate DDoS protection, suggesting a tactical shift in their operations. Radware emphasizes the necessity for all enterprises, ISPs, and CSPs to diligently assess their DDoS defense strategies in light of this persistent threat.

Radware (NASDAQ: RDWR) has expanded its partnership with Fujitsu to enhance traffic capacity for Spanish healthcare organizations during the Covid-19 pandemic. Fujitsu implemented Radware’s Alteon application delivery controller to manage network load balancing for web and cloud applications, addressing increased demand for secure remote access. This collaboration has resulted in improved SSL traffic capacity and TLS 1.3 communications, ensuring uninterrupted access for healthcare providers. Both systems are operational, meeting critical needs for data management and patient services.

Radware (NASDAQ: RDWR) announced the release of Part I of its 2021 Hacker’s Almanac eBook, focusing on current cyber threat actors, including nation states, organized crime, hacktivists, hackers, and disgruntled insiders. The eBook aims to raise awareness about these threats as organizations prepare for future cyber-attacks. Key highlights include profiles of significant nation-state groups and insights into the business of cybercrime. Further parts will cover tactics, techniques, and mitigation strategies later this year.

Radware (NASDAQ: RDWR) will announce its Q2 2021 financial results on July 28, 2021. The management team will host a conference call at 8:30 am ET to discuss the results and provide an outlook for Q3 2021. Participants should join 15 minutes early. The call will be available via webcast on Radware's website, with a replay accessible for two days post-call. Radware is a leader in cyber security and application delivery solutions, catering to over 12,500 enterprise and carrier customers globally.

Radware reported Q1 2021 revenues of $67 million, marking an 11% increase year-over-year, surpassing guidance. The Americas region saw a 15% growth, contributing 50% of total revenues. Record Annual Recurring Revenues (ARR) reached $176 million, up 10% year-over-year. Non-GAAP operating income surged 55% to $7.5 million, with a non-GAAP EPS of $0.17. GAAP EPS was $0.08. Cash flow from operations totaled $59 million over the last twelve months. The company is well-positioned amid increasing demand for cybersecurity solutions.

Radware (NASDAQ: RDWR) and Netsync announced a collaboration to offer Radware's Cloud DDoS Protection Service to U.S. State, Local, and Education (SLED) agencies. This service, sold under the Netsync brand, provides enterprise-grade DDoS protection with fast detection and response to evolving threats. Netsync has trained staff to act as trusted advisors, enhancing security for educational and government institutions struggling with network security challenges. This partnership aims to ensure 24/7 access to online services while keeping data safe.

Radware (NASDAQ: RDWR) announced that Guangqi Honda has selected its Cloud Native Protector service for enhanced cloud security. Guangqi Honda, producing around 800,000 vehicles annually, faced critical security issues in their AWS environment, prompting them to seek a robust security solution. Radware’s service provides real-time attack detection and automated breach monitoring, addressing problems like excessive permissions and misconfigurations. This partnership aims to bolster cloud security and improve operational efficiency, enabling the teams to focus on strategic priorities.

Radware (NASDAQ: RDWR), a leader in cybersecurity and application delivery, has upgraded its Cloud DDoS Protection Service to handle attacks up to 8Tbps. This comes with the opening of a new cloud scrubbing center in Amsterdam, bringing the total to 14 globally. The enhancements follow a significant rise in cyber threats, including a recent ransom DDoS campaign. Radware's technology utilizes advanced algorithms for automated protection against various DDoS attack types, ensuring service availability. Furthermore, Radware has been recognized as a leader in DDoS protection by Forrester.

Radware (NASDAQ: RDWR) announced the resignation of Chief Financial Officer Doron Abramovitch, effective June 10, 2021, to pursue other career opportunities. Abramovitch, who has been with the company since 2015, played a key role in its growth and expansion. The company is now searching for a successor, with Abramovitch ensuring a smooth transition. CEO Roy Zisapel expressed gratitude for Abramovitch's contributions, citing the company's strong financial position as he departs.