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Radware Ltd. logo
Radware Ltd. RDWR
$ 29.89 -0.9%
report update icon

Quarterly report 2022-Q4
added 10-28-2026

Radware Ltd. Income Statement 2025-2008 | RDWR

Brief overview of profit and loss at Radware Ltd.

The comparison covers a five-year financial horizon. Radware Ltd. reported revenue of $250 million in 2020 and $302 million by 2025. Overall revenue changed by +20.7%, equal to an annualized rate of about 3.8%. Revenue was effectively stagnant over the period.

Gross profit was $205 million at the start and $244 million at the end of the period (+18.8%). Cost of revenue developed less favorably than sales and pressured gross profitability. Comparing the endpoints gives gross margins of 82% and 80.7%. The relationship between gross profit and revenue changed only slightly.

EBITDA changed from 16.7 million dollars to 23.1 million dollars (+38.1%). EBITDA grew faster than revenue, indicating positive operating leverage. The EBITDA share of revenue changed from 6.7% to 7.7%. The operating margin showed no pronounced shift.

The five-year change in net income was +110.2%: from 9.6 million dollars to 20.3 million dollars. Net profit ended the five years at a local peak.

Over the period, capitalization shifted from 1.2 billion dollars to 1 billion dollars (−17.2%). Market value lagged the financial performance.

What the figures show

The financial profile remains mixed, with strengths and risks moving in different directions. The positive side is supported by stable operating profitability and net-income growth. The weaker side of the profile includes weaker gross profitability and weak sales momentum. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.

Annual Income Statement Radware Ltd.

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

Market Cap

1 B 830 M 713 M 766 M 1.58 B 1.21 B 1.06 B 1.14 B 899 M 678 M 624 M 902 M 802 M 851 M 178 M 187 M - -

Shares

42.9 M 42 M 42.9 M 44.9 M 45.9 M 46.5 M 46.8 M 45.3 M 43.5 M 43.9 M 46.7 M 46.9 M 46.7 M 46.6 M 11.4 M 19.6 M - -

Historical Prices

23.4 19.8 16.6 17.1 34.4 26.1 22.7 25.1 20.7 15.4 11.5 21.2 17.6 18.2 16.6 9.56 3.84 4.93

Net Income

20.3 M 6.04 M -21.6 M -166 K 7.81 M 9.64 M 22.6 M 11.7 M -7.49 M -8.66 M 18.6 M 25 M 18.1 M 31.8 M 21.3 M 9.63 M -5.94 M -

Revenue

302 M 275 M 261 M 293 M 286 M 250 M 252 M 234 M 211 M 197 M 217 M 222 M 193 M 189 M 167 M - - -

Cost of Revenue

58.3 M 53.3 M 51.7 M 53.9 M 52.4 M 45.1 M 45.2 M 41.7 M 39.6 M 35.7 M 38.2 M 39.7 M 36.7 M 35.7 M 33.4 M 29.2 M 23.3 M -

Gross Profit

244 M 222 M 210 M 240 M 234 M 205 M 207 M 193 M 172 M 161 M 178 M 182 M 156 M 154 M 134 M 115 M 85.6 M -

Operating Income

11.4 M -3.89 M -31.7 M -3.34 M 18.2 M 6.17 M 16.9 M 7.52 M -6.67 M -12.7 M 18 M 25.1 M 17.6 M 30.9 M 18.4 M 8.46 M -7.1 M -

Interest Expense

17.9 M 16.6 M 13.9 M 8.05 M 4.41 M 7.8 M 8.79 M 7.27 M 4.83 M 5.74 M 5.87 M 5.8 M 4.49 M 4.79 M 4.2 M 2.06 M - -

EBITDA

23.1 M 7.95 M -19.4 M 8.35 M 28.4 M 16.7 M 28.2 M 17.3 M 4.56 M -2.38 M 27.4 M 33.2 M 25.7 M 40.8 M 28.7 M 17.5 M 2.69 M -

Operating Expenses

232 M 226 M 241 M 243 M 216 M 199 M 190 M 185 M 178 M 174 M 160 M 157 M 139 M 123 M 115 M 106 M 92.7 M -

General and Administrative Expenses

25.5 M 28.3 M 32.4 M 29.8 M 21.9 M 18.9 M 128 M 128 M 126 M 122 M 110 M 113 M 97.7 M 86.3 M 77.5 M 10.2 M 11.9 M -

All numbers in USD currency

Quarterly Income Statement Radware Ltd.

2025-Q4 2024-Q4 2023-Q4 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q4 2009-Q4 2008-Q4

Shares

42.9 M 42 M 42.9 M - - - - 45.9 M - - - 46.4 M - - - 47 M - - - 46.3 M - - - 44.1 M - - - 43.2 M - - - 44.8 M - - - 46.9 M - - - 44.7 M - - - 44.4 M - - - 21.3 M - - - 19.6 M - -

Net Income

20.3 M 6.04 M -21.6 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 9.63 M -5.94 M -

Revenue

302 M 275 M 261 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Cost of Revenue

58.3 M 53.3 M 51.7 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 29.2 M 23.3 M -

Gross Profit

244 M 222 M 210 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 115 M 85.6 M -

Operating Income

11.4 M -3.89 M -31.7 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 8.46 M -7.1 M -

Interest Expense

17.9 M 16.6 M 13.9 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2.06 M - -

EBITDA

23.1 M 7.95 M -19.4 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 17.5 M 2.69 M -

Operating Expenses

232 M 226 M 241 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 106 M 92.7 M -

General and Administrative Expenses

25.5 M 28.3 M 32.4 M - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 10.2 M 11.9 M -

All numbers in USD currency

The income statement is one of the three key financial reports of a company Radware Ltd. (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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