Radware Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	301.85	274.88	261.29	293.43	286.5
Revenue Growth (YoY)	9.81%	5.20%	-10.95%	2.42%	14.59%
Cost of Revenue	58.34	53.25	51.71	53.88	52.45
Gross Profit	243.51	221.63	209.58	239.54	234.05
Selling, General & Admin	152.89	151.49	159.77	156.32	141.73
Research & Development	78.98	74.72	82.62	86.56	74.1
Operating Expenses	231.87	226.22	242.39	242.88	215.83
Operating Income	11.65	-4.59	-32.81	-3.34	18.23
Interest & Investment Income	14.67	13.12	11.38	5.14	4.13
Currency Exchange Gain (Loss)	3.23	-1.24	0.2	1.3	-1.82
Other Non Operating Income (Expenses)	-	-0.24	-0.2	-0.21	-0.2
EBT Excluding Unusual Items	29.54	7.06	-21.43	2.89	20.34
Merger & Restructuring Charges	-0.24	-	-	-	-
Gain (Loss) on Sale of Investments	-	4.9	2.54	1.82	2.29
Other Unusual Items	-	0.7	1.13	-	-
Pretax Income	29.31	12.67	-17.75	4.71	22.63
Income Tax Expense	9.05	6.63	3.84	4.88	14.82
Net Income	20.26	6.04	-21.59	-0.17	7.81
Net Income to Common	20.26	6.04	-21.59	-0.17	7.81
Net Income Growth	235.49%	-	-	-	-18.94%
Shares Outstanding (Basic)	43	42	43	45	46
Shares Outstanding (Diluted)	45	43	43	45	48
Shares Change (YoY)	3.08%	1.15%	-4.61%	-5.39%	-0.50%
EPS (Basic)	0.47	0.14	-0.50	-0.00	0.17
EPS (Diluted)	0.45	0.14	-0.50	-0.00	0.16
EPS Growth	221.43%	-	-	-	-20.00%
Free Cash Flow	41.56	66.33	-8.93	23.33	66.17
Free Cash Flow Per Share	0.93	1.53	-0.21	0.52	1.39
Gross Margin	80.67%	80.63%	80.21%	81.64%	81.69%
Operating Margin	3.86%	-1.67%	-12.56%	-1.14%	6.36%
Profit Margin	6.71%	2.20%	-8.26%	-0.06%	2.73%
Free Cash Flow Margin	13.77%	24.13%	-3.42%	7.95%	23.10%
EBITDA	23.33	7.25	-20.56	8.35	26.56
EBITDA Margin	7.73%	2.64%	-7.87%	2.85%	9.27%
D&A For EBITDA	11.68	11.84	12.24	11.69	8.34
EBIT	11.65	-4.59	-32.81	-3.34	18.23
EBIT Margin	3.86%	-1.67%	-12.56%	-1.14%	6.36%
Effective Tax Rate	30.88%	52.33%	-	103.52%	65.49%
Revenue as Reported	-	274.88	261.29	293.43	286.5

Source: S&P Global Market Intelligence. Standard template. Financial Sources.