Radware Ltd. (FRA:RWA)

Radware Cash Flow Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	16.67	6.04	-21.59	-0.17	7.81	9.64
Depreciation & Amortization	11.75	11.84	12.24	11.69	8.34	10.56
Other Amortization	-	-	-	-	1.86	-
Loss (Gain) From Sale of Investments	-0.29	-0.42	2	2.28	2.28	0.29
Stock-Based Compensation	23.86	26.03	34.02	27.35	17.57	16.55
Change in Accounts Receivable	-10.03	3.44	-2.52	-4.56	3.66	5.76
Change in Inventory	0.22	1.51	-4.12	0.15	2.36	0.01
Change in Accounts Payable	-0.92	1.28	-2.17	2.15	0.43	-2.43
Change in Unearned Revenue	-0.47	5.5	-14.95	13.48	20.06	16.8
Change in Other Net Operating Assets	5.82	17.47	-5.87	-18.24	10.87	6.37
Operating Cash Flow	45.51	71.61	-3.5	32.15	71.77	63.87
Operating Cash Flow Growth	-26.02%	-	-	-55.21%	12.38%	20.84%
Capital Expenditures	-6.71	-5.28	-5.43	-8.81	-5.6	-8.67
Cash Acquisitions	-	-	-	-30	-	-
Investment in Securities	-63.88	-34.32	98.14	-17.24	13.4	-5.59
Other Investing Activities	0.12	0.08	0.07	0.04	0.05	-0.11
Investing Cash Flow	-70.48	-39.52	92.78	-56.02	7.85	-14.37
Issuance of Common Stock	0	0	0.37	2.03	10.59	11.9
Repurchase of Common Stock	-	-0.84	-63.23	-59.49	-52.47	-45.33
Other Financing Activities	-3.17	-3.08	-2.06	35	-	-2.05
Financing Cash Flow	-3.17	-3.91	-64.93	-22.46	-41.88	-35.48
Net Cash Flow	-28.14	28.18	24.35	-46.33	37.74	14.02
Free Cash Flow	38.8	66.33	-8.93	23.33	66.17	55.19
Free Cash Flow Growth	-31.16%	-	-	-64.74%	19.89%	23.48%
Free Cash Flow Margin	13.17%	24.13%	-3.42%	7.95%	23.10%	22.07%
Free Cash Flow Per Share	0.87	1.53	-0.21	0.52	1.39	1.16
Cash Income Tax Paid	0.92	0.92	4	18.07	2.75	1.31
Levered Free Cash Flow	29.13	43.35	2.35	23.14	60.32	47.17
Unlevered Free Cash Flow	29.13	43.35	2.35	23.14	60.32	47.17
Change in Working Capital	-6.47	28.13	-30.17	-9.01	33.91	26.83

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