Radware Tops Q4 Consensus Backed By Security Solutions Demand - Radware (NASDAQ:RDWR)

Radware Ltd RDWR reported fourth-quarter FY21 revenue growth of 11% year-on-year to $76.6 million, surpassing the consensus of $75.3 million.
Revenue in the Americas region rose 14% Y/Y to $31.2 million, Europe, Middle East, and Africa (EMEA) region increased 23% Y/Y to $29.7 million, and Asia-Pacific (APAC) region declined 10% Y/Y to $15.7 million.
The non-GAAP gross margin stood at 82.3%, down 70 bps.
Non-GAAP EPS of $0.22 beat the consensus of $0.21.
Radware generated $28.9 million in operating cash flow and held $465.8 million in cash and equivalents.
"We executed well, achieving double-digit revenue growth each quarter and for the full year, and record revenue for Q4 and 2021. We also grew our subscription business to more than 30% of total revenue, achieved healthy operating income and earnings per share, and generated record cash flow from operations," said CEO Roy Zisapel.
"In 2021, we witnessed an increased demand for our security solutions. The total addressable market is large and offers tremendous opportunities in the future."
Price Action: RDWR shares closed lower by 0.09% at $34.02 on Tuesday.