Earnings release
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Exhibit 99.1 Radware Reports Second Quarter 2026 Financial Results Second Quarter 2026 Financial Results and Highlights · Record revenue of $82.3 million, an increase of 11% year-over-year · Cloud ARR of $103 million, an increase of 22% year-over-year · Non-GAAP diluted EPS from continuing operations of $0.30; GAAP diluted EPS from continuing operations of $0.09 · Cash flow provided by continuing operations activities of $13.0 million dollars TEL AVIV, Israel, July 29, 2026 - Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced its consolidated financial results for the second quarter ended June 30, 2026. “We delivered another strong quarter, highlighted by double-digit revenue growth, Cloud ARR exceeding $100 million, and continued momentum across our cloud security platform,” said Roy Zisapel, President and Chief Executive Officer of Radware. “We continued to expand our security platform through innovation across cloud, application security, API Security, and DDoS protection, further strengthening our ability to address evolving customer requirements. We believe our expanding platform, innovation, and market position create significant opportunities for continued growth and long-term shareholder value.” Financial Highlights for the Second Quarter 2026 Revenue for the second quarter of 2026 totaled $82.3 million: · Revenue in the Americas region was $37.2 million for the second quarter of 2026, an increase of 24% from $30.1 million in the second quarter of 2025. · Revenue in the Europe, Middle East, and Africa (“EMEA”) region was $27.3 million for the second quarter of o 2026, a decrease of 2% from $27.8 million in the second quarter of 2025. · Revenue in the Asia-Pacific (“APAC”) region was $17.8 million for the second quarter of 2026, an increase of 9% from $16.3 million in the second quarter of 2025. GAAP net income from continuing operations for the second quarter of 2026 was $3.9 million, or $0.09 per diluted share, compared to GAAP net income from continuing operations of $6.4 million, or $0.14 per diluted share, for the second quarter of 2025. Non-GAAP net income from continuing operations for the second quarter of 2026 was $13.0 million, or $0.30 per diluted share, compared to non-GAAP net income from continuing operations of $14.3 million, or $0.32 per diluted share, for the second quarter of 2025.
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As of June 30, 2026, the Company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities of $422.9 million. Operating cash flow provided by continuing operations was $13 million in the second quarter of 2026. Conference Call Radware management will host a call today, July 29, 2026, at 8:30 a.m. ET to discuss its second quarter 2026 results and third quarter 2026 outlook. To participate in the call, please use the following link: Q2 2026 earnings call registration link. A replay of the call will be available within approximately 24 hours of the live event on the Investors section of Radware’s website at: https://www.radware.com/ir/financial-reports/. Use of Non-GAAP Financial Information and Key Performance Indicators Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. A reconciliation of each of the Company’s non-GAAP measures to the most directly comparable GAAP measure is included at the end of this press release. In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), Radware uses non-GAAP measures of gross profit, research and development expense, selling and marketing expense, general and administrative expense, total operating expenses, operating income, financial income, net, income before taxes on income, taxes on income, net income and diluted earnings per share, which are adjustments from results based on GAAP to exclude, as applicable, stock-based compensation expenses, amortization of intangible assets, litigation costs, acquisition costs, restructuring costs, exchange rate differences, net on balance sheet items included in financial income, net, and tax-related adjustments. Management believes that exclusion of these charges allows for meaningful comparisons of operating results across past, present, and future periods. Radware’s management believes the non-GAAP financial measures provided in this release are useful to investors for the purpose of understanding and assessing Radware’s ongoing operations. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP financial measures in evaluating and operating the business and, as such, has determined that it is important to provide this information to investors. Annual recurring revenue ("ARR") is a key performance indicator defined as the annualized value of booked orders for term-based cloud services, subscription licenses, and maintenance contracts that are in effect at the end of a reporting period. ARR should be viewed independently of revenue and deferred revenue and is not intended to be combined with or to replace either of those items. ARR is not a forecast of future revenue, which can be impacted by contract start and end dates and renewal rates and does not include revenue reported as perpetual license or professional services revenue in our consolidated statement of operations. We consider ARR a key performance indicator of the value of the recurring components of our business.
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Safe Harbor Statement This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. securities laws. Any forward-looking statements made herein that are not statements of historical fact, including statements about Radware’s plans, objectives, expectations, beliefs, projections, future financial performance, business strategies, market opportunities, and developments in our industry, are forward-looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “project,” “forecast,” “target,” and similar expressions, as well as future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global market and economic conditions; our dependence on independent distributors; disruptions in our supply chain, including shortages of components or manufacturing capacity; our reliance on a limited number of vendors; our ability to attract, train and retain qualified personnel; intense competition in the cybersecurity and application delivery markets; our ability to develop new solutions and enhance existing solutions; risks related to defects, vulnerabilities or failures in our products or services, including cybersecurity incidents affecting our systems or those of our customers; risks associated with the use of artificial intelligence technologies, including evolving regulatory frameworks, litigation exposure and reputational considerations; risks related to our information technology systems, including failures, disruptions or security breaches; outages, interruptions, or delays in hosting or cloud-based services; risks related to the interoperability of our products; risks associated with our global operations; and geopolitical risks, including instability in the Middle East and Israel. These factors are not exhaustive. For a more detailed description of the risks and uncertainties affecting Radware, please refer to Radware’s Annual Report on Form 20-F and other reports filed with or furnished to the Securities and Exchange Commission (SEC) from time to time. Forward-looking statements speak only as of the date on which they are made, and, except as required by applicable law, Radware undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of such statements. Radware’s public filings are available from the SEC’s website at www.sec.gov or on Radware’s website at www.radware.com. ### About Radware Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, API, and AI security solutions use AI-driven algorithms for precise, behavior-based, real-time protection against sophisticated web, application, and DDoS attacks, API abuse, business logic threats, and malicious bots. Radware delivers end-to-end API security, including discovery, posture management, testing, and runtime protection, along with advanced protection for AI agents and models. Enterprises and carriers worldwide rely on Radware to address evolving cyberthreats, protect their brands and business operations, and reduce costs. For more information, please visit the Radware website. Radware encourages you to join our community and follow us on Facebook, LinkedIn, Radware Blog, X, and YouTube. ©2026 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners. Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice. The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release. CONTACTS Investor Relations: Yisca Erez, +972-72-3917211, ir@radware.com Media Contact: Gina Sorice, ginaso@radware.com
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Radware Ltd. Condensed Consolidated Balance Sheets (U.S. Dollars in thousands) June 30, December 31, 2026 2025 (Unaudited) (Unaudited) Assets Current assets Cash and cash equivalents 85,200 102,748 Marketable securities 28,379 15,900 Short-term bank deposits 134,858 129,961 Trade receivables, net 39,480 34,604 Other receivables and prepaid expenses 13,423 10,639 Inventories 13,655 13,220 Current assets held for sale 5,149 9,435 320,144 316,507 Long-term investments Marketable securities 59,006 71,398 Long-term bank deposits 115,482 131,922 Other assets 3,150 2,830 177,638 206,150 Property and equipment, net 17,280 16,387 Goodwill and intangible assets, net 78,041 72,159 Other long-term assets 43,740 40,641 Operating lease right-of-use assets 14,208 15,456 Long-term assets held for sale 3,337 3,865 Total assets 654,388 671,165 Liabilities and equity Current liabilities Trade payables 8,157 7,231 Deferred revenues 128,212 111,917 Operating lease liabilities 4,861 4,862 Other payables and accrued expenses 52,743 67,948 Current liabilities held for sale 2,103 2,325 196,076 194,283 Long-term liabilities Deferred revenues 80,349 65,764 Operating lease liabilities 11,225 11,970 Other long-term liabilities 7,605 8,464 99,179 86,198 Equity Radware Ltd. equity Share capital 775 770 Additional paid-in capital 591,486 578,652 Accumulated other comprehensive income (loss) (252) 1,393 Treasury stock, at cost (425,720) (377,561) Retained earnings 151,364 146,107 Total Radware Ltd. shareholder's equity 317,653 349,361 Non–controlling interest 41,480 41,323 Total equity 359,133 390,684
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Total liabilities and equity 654,388 671,165 * The results of our subsidiary, SkyHawk, have been classified as discontinued operations effective the first quarter of 2026 and are presented accordingly. Comparative prior-year figures have been adjusted to align with this presentation and ensure consistency.
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Radware Ltd. Condensed Consolidated Statements of Income (U.S Dollars in thousands, except share and per share data) For the three months ended For the six months ended June 30, June 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues 82,280 74,108 162,093 146,130 Cost of revenues 15,819 13,904 30,931 27,466 Gross profit 66,461 60,204 131,162 118,664 Operating expenses, net: Research and development, net 23,773 18,163 44,876 35,715 Selling and marketing 32,264 30,737 64,856 61,377 General and administrative 7,955 6,192 14,443 12,424 Total operating expenses, net 63,992 55,092 124,175 109,516 Operating income 2,469 5,112 6,987 9,148 Financial income, net 3,543 3,517 7,315 8,179 Income before taxes on income from continuing operations 6,012 8,629 14,302 17,327 Taxes on income 2,131 2,237 4,300 4,337 Net income from continuing operations 3,881 6,392 10,002 12,990 Loss from discontinued operations (2,168) (2,170) (4,745) (4,424) Net income 1,713 4,222 5,257 8,566 Basic net income per share attributed to Radware Ltd.'s shareholders: Continuing operations 0.09 0.15 0.23 0.30 Discontinued operations (0.05) (0.05) (0.11) (0.10) Total basic net income per share attributed to Radware Ltd.'s shareholders 0.04 0.10 0.12 0.20 Weighted average number of shares used to compute basic net income per share 41,714,046 42,734,026 42,250,915 42,711,279 Diluted net income per share attributed to Radware Ltd.'s shareholders: Continuing operations 0.09 0.14 0.23 0.29 Discontinued operations (0.05) (0.05) (0.11) (0.10) Total diluted net income per share attributed to Radware Ltd.'s shareholders 0.04 0.09 0.12 0.19 Weighted average number of shares used to compute diluted net income per share 43,687,694 44,510,896 44,089,154 44,364,057 * The results of our subsidiary, SkyHawk, have been classified as discontinued operations effective the first quarter of 2026 and are presented accordingly. Comparative prior-year figures have been adjusted to align with this presentation and ensure consistency.
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Radware Ltd. Reconciliation of GAAP to Non-GAAP Financial Information (U.S Dollars in thousands, except share and per share data) For the three months ended June 30, For the six months ended June 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP gross profit 66,461 60,204 131,162 118,664 Share-based compensation 114 131 280 252 Amortization of intangible assets 734 732 1,466 1,465 Non-GAAP gross profit 67,309 61,067 132,908 120,381 GAAP research and development, net 23,773 18,163 44,876 35,715 Share-based compensation 1,723 1,259 3,411 2,394 Amortization of intangible assets 253 - 253 - Non-GAAP research and development, net 21,797 16,904 41,212 33,321 GAAP selling and marketing 32,264 30,737 64,856 61,377 Share-based compensation 3,279 2,669 5,931 5,722 Non-GAAP selling and marketing 28,985 28,068 58,925 55,655 GAAP general and administrative 7,955 6,192 14,443 12,424 Share-based compensation 2,216 1,401 3,218 2,772 Acquisition costs 100 138 389 291 Non-GAAP general and administrative 5,639 4,653 10,836 9,361 GAAP total operating expenses, net 63,992 55,092 124,175 109,516 Share-based compensation 7,218 5,329 12,560 10,888 Acquisition costs 100 138 389 291 Non-GAAP total operating expenses, net 56,674 49,625 111,226 98,337 GAAP operating income 2,469 5,112 6,987 9,148 Share-based compensation 7,332 5,460 12,840 11,140 Amortization of intangible assets 987 732 1,719 1,465 Acquisition costs 100 138 389 291 Non-GAAP operating income 10,888 11,442 21,935 22,044 GAAP financial income, net 3,543 3,517 7,315 8,179 Exchange rate differences, net on balance sheet items included in financial income, net 824 1,673 1,598 2,182 Non-GAAP financial income, net 4,367 5,190 8,913 10,361 GAAP income before taxes on income from continuing operations 6,012 8,629 14,302 17,327 Share-based compensation 7,332 5,460 12,840 11,140 Amortization of intangible assets 987 732 1,719 1,465 Acquisition costs 100 138 389 291 Exchange rate differences, net on balance sheet items included in financial income, net 824 1,673 1,598 2,182 Non-GAAP income before taxes on income from continuing operations 15,255 16,632 30,848 32,405 GAAP taxes on income 2,131 2,237 4,300 4,337 Tax related adjustments 91 61 153 123 Non-GAAP taxes on income 2,222 2,298 4,453 4,460 GAAP net income from continuing operations 3,881 6,392 10,002 12,990 Share-based compensation 7,332 5,460 12,840 11,140 Amortization of intangible assets 987 732 1,719 1,465 Acquisition costs 100 138 389 291 Exchange rate differences, net on balance sheet items included in financial income, net 824 1,673 1,598 2,182
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Tax related adjustments (91) (61) (153) (123) Non-GAAP net income from continuing operations 13,033 14,334 26,395 27,945 Non-GAAP loss from discontinued operations 1,898 1,739 4,192 3,532 Non-GAAP net income 11,135 12,595 22,203 24,413 GAAP diluted net income per share from continuing operations 0.09 0.14 0.23 0.29 Share-based compensation 0.17 0.12 0.29 0.25 Amortization of intangible assets 0.02 0.02 0.04 0.03 Acquisition costs 0.00 0.00 0.01 0.01 Exchange rate differences, net on balance sheet items included in financial income, net 0.02 0.04 0.03 0.05 Tax related adjustments (0.00) (0.00) (0.00) (0.00) Non-GAAP diluted net earnings per share from continuing operations 0.30 0.32 0.60 0.63 Non-GAAP diluted net loss per share from discontinued operations (0.05) (0.04) (0.10) (0.08) Non-GAAP diluted net earnings per share 0.25 0.28 0.50 0.55 Weighted average number of shares used to compute non-GAAP diluted net earnings per share 43,687,694 44,510,896 44,089,154 44,364,057
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Radware Ltd. Condensed Consolidated Statements of Cash Flow (U.S. Dollars in thousands) For the three months ended For the six months ended June 30, June 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Cash flow from operating activities: Net income 1,713 4,222 5,257 8,566 Loss from discontinued operations activities 2,168 2,170 4,745 4,424 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 2,910 2,594 5,504 5,476 Share-based compensation 7,332 5,460 12,840 11,139 Amortization of premium, accretion of discounts and accrued interest on marketable securities, net 112 (93) 137 (254) Decrease in accrued interest on bank deposits (610) (2,839) (1,078) (4,440) Increase (decrease) in accrued severance pay, net (193) 15 (480) 76 Decrease (increase) in trade receivables, net (7,545) 2,133 (4,876) (6,053) Increase in other receivables and prepaid expenses and other long-term assets (4,176) (928) (7,252) (1,088) Decrease (increase) in inventories (525) 199 (435) 718 Increase (decrease) in trade payables 1,658 438 926 (1,402) Increase (decrease) in deferred revenues 16,270 (1,261) 30,880 16,471 Increase (decrease) in other payables and accrued expenses (6,583) 2,281 (13,702) 5,562 Operating lease liabilities, net 511 1,228 502 1,000 Net cash provided by operating activities - continuing operations 13,042 15,619 32,968 40,195 Net cash used in operating activities - discontinued operations (1,904) (1,127) (4,190) (3,261) Net cash provided by operating activities 11,138 14,492 28,778 36,934 Cash flows from investing activities: Purchase of property and equipment (2,025) (2,659) (4,678) (3,770) Proceeds from (investment in) other long-term assets, net (32) (19) (16) 90 Proceeds from (investment in) bank deposits, net (12,279) (17,401) 12,621 (44,513) Investment in, redemption of and purchase of marketable securities, net (147) (5,239) (945) 10,955 Acquisition of subsidiary, net of cash acquired - - (5,938) - Proceeds from other deposits - - - 5,000 Net cash provided by (used in) investing activities - continuing operations (14,483) (25,318) 1,044 (32,238) Net cash provided by investing activities - discontinued operations 299 3,599 3,300 3,598 Net cash provided by (used in) investing activities (14,184) (21,719) 4,344 (28,640) Cash flows from financing activities: Proceeds from exercise of share options 1 - 4 1 Payment of contingent consideration related to acquisition (3,405) (3,167) (3,405) (3,167) Repurchase of shares (18,767) - (48,159) - Net cash used in financing activities - continuing operations (22,171) (3,167) (51,560) (3,166) Net cash used in financing activities - discontinued operations - (3) - - Net cash used in financing activities (22,171) (3,170) (51,560) (3,166) Increase (decrease) in cash and cash equivalents (25,217) (10,397) (18,438) 5,128 Cash and cash equivalents at the beginning of the period 111,857 114,239 105,078 98,714 Cash and cash equivalents at the end of the period 86,640 103,842 86,640 103,842 Less cash and cash equivalents of discontinued operations (1,440) (3,210) (1,440) (3,210) Cash and cash equivalents at the end of the period - continuing operations 85,200 100,632 85,200 100,632
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Radware Ltd. RECONCILIATION OF GAAP NET INCOME TO EBITDA AND ADJUSTED EBITDA (NON-GAAP) (U.S Dollars in thousands) For the three months ended June 30, For the six months ended June 30, 2026 2025 2026 2025 (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP net income for continuing operations 3,881 6,392 10,002 12,990 Exclude: Financial income, net (3,543) (3,517) (7,315) (8,179) Exclude: Depreciation and amortization expense 2,910 2,594 5,504 5,476 Exclude: Taxes on income 2,131 2,237 4,300 4,337 EBITDA 5,379 7,706 12,491 14,624 Share-based compensation 7,332 5,460 12,840 11,140 Acquisition costs 100 138 389 291 Adjusted EBITDA for continuing operations 12,811 13,304 25,720 26,055 For the three months ended For the six months ended June 30, June 30, 2026 2025 2026 2025 Amortization of intangible assets 987 732 1,719 1,465 Depreciation 1,923 1,862 3,785 4,011 2,910 2,594 5,504 5,476