Radware Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	309.58	301.85	274.88	261.29	293.43	286.5
Revenue Growth (YoY)	9.83%	9.81%	5.20%	-10.95%	2.42%	14.59%
Cost of Revenue	59.46	58.34	53.25	51.71	53.88	52.45
Gross Profit	250.12	243.51	221.63	209.58	239.54	234.05
Selling, General & Admin	154.46	153.12	150.79	158.65	156.32	141.73
Research & Development	81.31	78.98	74.72	82.62	86.56	74.1
Total Operating Expenses	235.77	232.1	225.52	241.26	242.88	215.83
Operating Income	14.36	11.41	-3.89	-31.68	-3.34	18.23
Total Non-Operating Income (Expense)	16.8	17.9	16.55	13.93	8.05	4.41
Pretax Income	31.15	29.31	12.67	-17.75	4.71	22.63
Provision for Income Taxes	9.12	9.05	6.63	3.84	4.88	14.82
Net Income	19.46	20.26	6.04	-21.59	-0.17	7.81
Earnings From Discontinued Operations	-2.58	-	-	-	-	-
Net Income to Common	19.46	20.26	6.04	-21.59	-0.17	7.81
Net Income Growth	67.67%	235.49%	-	-	-	-18.94%
Shares Outstanding (Basic)	44	43	42	43	45	46
Shares Outstanding (Diluted)	45	45	43	43	45	48
Shares Change (YoY)	2.55%	3.08%	1.15%	-4.61%	-5.39%	-0.50%
EPS (Basic)	0.43	0.47	0.14	-0.50	-	0.17
EPS (Diluted)	0.43	0.45	0.14	-0.50	-	0.16
EPS Growth	59.26%	221.43%	-	-	-	-20.00%
Shares Outstanding	43.15	43.15	42.55	41.7	44.31	45.87
Free Cash Flow	35.21	41.56	-3.33	-8.93	23.33	66.17
Free Cash Flow Growth	-15.26%	-	-	-	-64.74%	19.89%
Free Cash Flow Per Share	0.79	0.93	-0.08	-0.21	0.52	1.39
Gross Margin	80.79%	80.67%	80.63%	80.21%	81.64%	81.69%
Operating Margin	4.64%	3.78%	-1.41%	-12.12%	-1.14%	6.36%
Profit Margin	7.12%	6.71%	2.20%	-8.26%	-0.06%	2.73%
FCF Margin	11.37%	13.77%	-1.21%	-3.42%	7.95%	23.10%
EBITDA	25.48	23.09	-3.89	-19.44	8.35	28.42
EBITDA Margin	8.23%	7.65%	-1.41%	-7.44%	2.85%	9.92%
EBIT	14.36	11.41	-3.89	-31.68	-3.34	18.23
EBIT Margin	4.64%	3.78%	-1.41%	-12.12%	-1.14%	6.36%
Effective Tax Rate	29.27%	30.88%	52.33%	-21.61%	103.52%	65.49%

Updated May 7, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q