Radware Ltd. and its affiliated companies are dedicated to the development, production, and distribution of advanced cybersecurity and application management tools. These ...
Radware Ltd. (RDWR) is a company focused on securing and optimizing how applications are delivered and protected across modern IT environments. The company’s positioning centers on application security (including web and network attack defense, such as DDoS mitigation) and application delivery (including controller/load-balancer and gateway-style technologies). These solutions are designed ...Radware Ltd. (RDWR) is a company focused on securing and optimizing how applications are delivered and protected across modern IT environments. The company’s positioning centers on application security (including web and network attack defense, such as DDoS mitigation) and application delivery (including controller/load-balancer and gateway-style technologies). These solutions are designed to work for applications hosted in public clouds, private clouds, traditional physical data centers, and software-defined infrastructures.
From a product perspective, Radware’s portfolio includes “DefensePro” for immediate network attack defense and “AppWall” as a web application firewall (WAF). It also offers a Kubernetes-oriented WAF designed to protect WAF needs within Kubernetes-orchestrated CI/CD pipelines (Radware Kubernetes WAF), reflecting the company’s emphasis on integrating security into cloud-native development and delivery workflows. For broader cyber command-and-control capabilities, Radware includes “DefenseFlow.” On the application delivery side, Radware provides “Alteon,” an application delivery controller (ADC) and load balancer for web, cloud, and mobile applications, and “LinkProof NG,” which supports enterprise connectivity through multi-homing and gateway functionality for both on-premises and cloud-based applications.
Radware additionally provides security monitoring and service layers, such as “APS olute Vision” for network surveillance aligned to cybersecurity and application delivery needs, and the MSSP Portal that streamlines detection and mitigation workflows for service providers. It also offers cloud-based DDoS protection services. In many deployments, Radware’s solutions are consumed alongside subscriptions and support offerings—e.g., security update subscriptions and threat-intelligence feeds (such as intelligence related to active attackers involved in DDoS and web attacks). These subscription components and operational services often represent recurring revenue elements typical for security platforms, where ongoing updates and managed support help maintain effectiveness against evolving threats.
Go-to-market commonly leverages independent distributors and channel partners such as value-added resellers (VARs), original equipment manufacturers (OEMs), and system integrators (SIs), which can reduce direct sales overhead while enabling deployment through partners with specific industry and infrastructure expertise. The “cost/BOM” profile for customers is typically driven by software licensing and subscription tiers (e.g., security updates and platform capabilities), plus possible implementation/professional services and ongoing managed services, rather than purely hardware-only purchases.
Financially, the company is a publicly traded technology business (NASDAQ Global Select) with market valuation in the order of about $1.2B based on the provided data. Business performance metrics show profitability margins and cash flow measures consistent with an established software/security solutions provider, and the company reports meaningful gross margin in the provided dataset.
Key people include Roy Zisapel, who serves as CEO and President and is also widely referenced as a co-founder. Other leadership roles (e.g., CFO and CRO) are part of Radware’s executive team structure. Overall, Radware’s long-term “wishes,” as reflected in its roadmap and product framing, are to expand protection and delivery performance across increasingly distributed and automated environments—especially where security controls must fit directly into CI/CD and Kubernetes-oriented workflows.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$301.9M
+9.8%
+3.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$20.3M
+235.5%
-51.7%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+80.7%
+0.1%
-0.4%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+3.8%
+367.3%
-50.2%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+6.7%
+205.5%
-53.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$41.6M
-37.4%
-39.2%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+13.8%
-42.9%
-41.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
4.9%
-15.7%
+1.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.63x
-14.2%
+2.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator : Hello. Good day, and welcome to Diebold Nixdorf's Second Quarter 2026 Earnings Call. My name is Paige, and I'll be coordinating today's call. I'd now like to turn the call over to our host, Maynard Um, Vice President of Investor Relations. Maynard, please go ahead.
Maynard Um : Hello, and welcome to our second quarter 2026 earnings call. To accompany our prepared remarks, we posted our slide presentation to the Investor Relations section of our website. Before we start, I'll remind all participants that you'll hear forward-looking statements during this call. These statements reflect the expectations and beliefs of our management team at the time of the call, but they are subject to risks that could cause actual results to differ materially from these statements. You can find additional information on these factors in the company's periodic and annual filings with the SEC. Participants should be mindful that subsequent events may render this information to be out of gate. We will also discuss certain non-GAAP financial measures on today's call. As noted on Slide 3, reconciliations between GAAP and non-GAAP financial measures can be found in the supplemental schedules of the presentation. With that, I'll turn the call over to Octavio, who will begin on Slide 4.
Octavio Marquez : Thank you, Maynard, and good morning, everyone. Thank you for joining us. Commercial momentum remained strong during the quarter. Order entry increased 3% year-over-year and 6% sequentially. First half order entry reached its highest level in 4 years. Backlog grew sequentially to $814 million, and we remain on track to deliver on our full year outlook. Revenue increased 1% year-over-year and 4% sequentially to $928 million. Adjusted EBITDA grew to $121 million, an increase of 8% year-over-year and 22% sequentially, while adjusted earnings per share increased 17% year-over-year to $1.10. Across the business, we continue to execute the strategic priorities we've discussed throughout the year. In banking, we continue to expand our branch automation strategy beyond the ATM with growth in teller cash recyclers, transaction middleware and managed services. Retail delivered another quarter of strong growth across all our regions. We also achieved record service level performance, meeting or exceeding our customers' expectations and continue improving the efficiency of our operating model through lean initiatives. At the same time, we also navigated several challenges. Higher memory costs in our electronic point-of-sale portfolio continue to be a headwind. We have taken pricing, sourcing and other mitigation actions. And while memory pricing environment remains uncertain, we expect these actions to continue gaining traction through the third and fourth quarters. In response to the evolving memory market dynamics, we made the strategic decision to increase inventory to secure components and support customer deployment schedules in the second half of the year. This …