Radware Ltd. - RDWR STOCK NEWS

Radware (NASDAQ: RDWR) announced the appointment of Mr. Stanley B. Stern and Ms. Naama Zeldis as independent directors, effective until the 2020 annual meeting. Mr. Stern, with over 30 years in finance and technology, and Ms. Zeldis, with extensive operational experience, aim to enhance Radware's strategic growth. Meanwhile, Mr. Avraham Asheri is stepping down for health reasons after 11 years, and Mr. Joel Maryles resigns after 6.5 years to focus on other interests. The company appreciates their contributions and looks forward to the new board members' insights.

Radware (NASDAQ: RDWR) announced the launch of three new scrubbing centers in India, Brazil, and Israel to bolster its global Cloud DDoS Protection Service. These additions increase the company's scrubbing capacity by approximately 30%, supporting customer demands in emerging markets, especially concerning data residency due to rising data privacy laws. COO Gabi Malka emphasized that the expansion enhances localized customer support and attack mitigation capabilities, allowing organizations to manage DDoS threats effectively, which are becoming increasingly sophisticated.

Radware (NASDAQ: RDWR) reported its second quarter 2020 results, showing revenues of $58.4 million, a 3% decline from the prior year. The company achieved a GAAP EPS of $0.01 and a non-GAAP EPS of $0.13. For the first six months, revenues totaled $118.5 million, down 3% year-over-year. Regional performance varied: Americas increased 8%, EMEA grew 2%, while APAC declined by 25%. Cash and equivalents stood at $442.8 million, with $18 million cash provided by operations in Q2. Management remains optimistic about ongoing business fundamentals.

Radware (NASDAQ: RDWR) announced an earnings call set for July 29, 2020, at 8:30 am ET, to discuss its second quarter 2020 financial results and offer insights into its third quarter outlook. Interested participants can join via a toll-free number or an international line, with a replay available shortly after the call. As a leader in cybersecurity and application delivery solutions, Radware serves over 12,500 enterprise clients worldwide, addressing market challenges while maintaining operational continuity.

Radware (NASDAQ: RDWR) has upgraded its application security solutions to shield mission-critical APIs from sophisticated bot attacks. The Bot Manager now offers comprehensive protection, responding to a substantial rise in API vulnerabilities, with bot attacks increasing by 50% in the first half of 2020 compared to 2019. Research indicates 81% of organizations faced API attacks last year. As organizations increasingly rely on APIs, Radware’s solution harnesses machine learning to effectively counteract these automated threats, enhance data protection, and minimize financial impacts.

Radware (NASDAQ: RDWR) has enhanced its Cloud Workload Protection Service (CWP), providing enterprises with advanced visibility, compliance, and reporting features for multi-cloud environments. The upgraded service includes a new security posture dashboard and improvements to its attack detection engine, which now addresses cloud-native attack vectors. A new attack simulation tool enables organizations to test their cloud security proactively. Radware's CWP aims to help companies identify security risks, manage compliance, and enhance overall security against potential breaches effectively.

Radware (NASDAQ: RDWR) has been selected by HT Media for its Attack Mitigation Solution to enhance data center security. The solution integrates on-premise and cloud DDoS protection, addressing a rise in attack frequency and volume. Radware's hybrid solution provides always-on detection, mitigation, and 24/7 emergency support. The implementation showed immediate results in blocking attacks effectively. HT Media's Group CIO praised the fast and easy deployment of the system, emphasizing its capability to combat zero-day attacks.

Radware (NASDAQ: RDWR) has appointed Gabi Seligsohn as an independent director on its Board of Directors, effective immediately. His term will run until the next annual shareholder meeting, where his appointment will be subject to a vote. Seligsohn, who has extensive leadership experience in the tech sector, previously served as CEO of Kornit Digital and Nova Measuring Instruments. His track record includes significant business growth and strategic insight, which Radware believes will enhance its focus on value delivery to stakeholders.