Radware Ltd. - RDWR STOCK NEWS

Radware (NASDAQ: RDWR) held its Annual General Meeting of Shareholders on November 10, 2020, where all six proposals presented were approved by the shareholders. The company, a leader in cyber security and application delivery solutions, emphasized its commitment to providing robust protection and availability services for enterprises worldwide. The successful adoption of the proposals signals strong shareholder support and aligns with Radware's strategic goals to adapt to market challenges and enhance business productivity.

Radware (NASDAQ: RDWR) announced the enhancement of its DefensePro Virtual Appliance for AWS, integrating expanded elastic scaling capabilities. This allows users to automatically scale DDoS mitigation without manual intervention, supporting AWS Gateway Load Balancer. The upgraded DefensePro VA provides advanced Layer 7 DDoS protection and improved monitoring, contributing to efficient cost management. This feature ensures AWS users can protect workloads from various attack sizes, optimizing resource usage and enhancing overall resilience.

Radware (NASDAQ: RDWR) reported third-quarter 2020 revenues of $62.5 million, a slight decline of 1% from $62.9 million in Q3 2019. Non-GAAP EPS was $0.18, down from $0.25 year-over-year. The Americas region saw a 24% revenue increase to $30.2 million, while EMEA revenues decreased by 5% to $18.3 million, and APAC revenues fell 27% to $14.0 million. GAAP net income was $3.6 million, compared to $7.1 million in Q3 2019. The company generated $6.8 million in net cash from operations, with $437.4 million in cash and equivalents as of September 30, 2020.

Radware (NASDAQ: RDWR) has secured a contract with one of the world's largest healthcare companies, implementing its Cloud DDoS Protection services across six global data centers. This win comes after Radware displaced a competitor by showcasing superior protection capabilities. The company emphasized the increasing demand for robust digital asset protection in the post-pandemic world. Radware's service offers low latency, enhanced attack detection accuracy, and proactive management by security experts, further solidifying its position in the cyber security market.

Radware (NASDAQ: RDWR) has launched its Bot Manager service for Salesforce Commerce Cloud, aimed at protecting eCommerce companies from malicious bot attacks that can harm revenues. This service is crucial as 27.7% of bad bot attacks targeted the eCommerce sector, with threats including payment fraud and account takeovers. The rise in online retail, accelerated by COVID-19, has made these protections vital. US online sales reached $73.2 billion in June 2020, a significant 76.2% increase from the previous year, highlighting the urgency for robust security solutions.

Radware (NASDAQ: RDWR) has secured a significant contract with one of the world’s largest online trading platforms, enhancing its cybersecurity offerings. The agreement sees Radware providing Always-On Cloud DDoS and Cloud WAF services, effectively replacing two previous vendors. This comprehensive solution covers four major data centers and 51 applications, ensuring robust protection against sophisticated attacks. The Chief Business Officer, Raffi Kesten, emphasized the critical need for security in the financial sector due to increasing threats targeting online trading platforms.

Radware (NASDAQ: RDWR) announced a successful deployment of its Bot Manager for Alza, a leading e-commerce platform in Central Europe, which processes over 12 million transactions annually. Amid peak holiday traffic, Radware's solution eliminated brute force attacks and reduced CPU usage by 10%, enhancing the user experience significantly. This partnership highlights Radware’s capability in mitigating bot threats during crucial sales periods, aligning with increasing global bot attack trends, as noted in Radware's own research which revealed bad bot traffic constituted nearly 25% of total internet activity in 2019.

Radware (NASDAQ: RDWR) has introduced multi-dimensional DDoS detection and protection tailored for the online gaming industry, a sector that is increasingly targeted by cyber attacks. New algorithms specifically protect against sophisticated DDoS attacks, particularly relevant for Massive Multi-Player Online (MMO) games that often rely on UDP protocol. The enhanced solution addresses non-volumetric attacks and minimizes false positives, ensuring continuous service. This offering positions Radware as a key player in protecting the gaming ecosystem, vital for maintaining user experience and brand reputation.

Radware (NASDAQ: RDWR) has announced its 2020 Annual General Meeting of Shareholders on November 10, 2020, at 3:00 p.m. (Israel time). Shareholders eligible as of October 7, 2020, will be able to participate. The agenda includes the election of directors, amendments to Articles of Association, and equity-based grants to executives. The meeting may shift to a virtual format due to COVID-19. All proposals require a simple majority for approval. Detailed position statements must be submitted by October 30, 2020, and shareholders can access related documents via the SEC or company website.