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Radware Reports Record Q4 and Full-Year 2025 Financial Results
Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced its consolidated financial results for the fourth quarter and full year ended December 31, 2025.
"2025 was a year of strong execution and significant progress for Radware. We closed the year with record revenue and earnings, driven by continued expansion in our cloud security business, momentum in our go-to-market strategy, and robust demand for our advanced protection solutions," said Roy Zisapel, president and CEO of Radware. "Our cloud ARR approached the $100 million milestone, and we advanced our cloud application platform with API security and agentic-AI protection, further strengthening our market position. As we enter 2026 with a healthy pipeline, an enhanced platform, and growing customer adoption of cloud-based security, we are well-positioned to sustain our growth."
Financial Highlights for the Fourth Quarter 2025
Revenue for the fourth quarter and full year of 2025 totaled $80.2 million and $301.9 million, respectively:
Revenue in the Americas region was $31.6 million for the fourth quarter of 2025, a decrease of 4% from $32.8 million in the fourth quarter of 2024. Revenue in the Americas region for the full year of 2025 was $124.5 million, an increase of 6% from $117.7 million in the full year of 2024.
Revenue in the Europe, Middle East, and Africa ("EMEA") region was $32.2 million for the fourth quarter of 2025, an increase of 38% from $23.3 million in the fourth quarter of 2024. Revenue in the EMEA region for the full year of 2025 was $111.3 million, an increase of 18% from $94.1 million in the full year of 2024.
Revenue in the Asia-Pacific ("APAC") region was $16.4 million for the fourth quarter of 2025, a decrease of 3% from $16.9 million in the fourth quarter of 2024. Revenue in APAC region for the full year of 2025 was $66.1 million, an increase of 5% from $63.1 million in the full year of 2024.
GAAP net income for the fourth quarter of 2025 was $6.0 million, or $0.13 per diluted share, compared to GAAP net income of $2.5 million, or $0.06 per diluted share, for the fourth quarter of 2024. GAAP net income for the full year of 2025 was $20.3 million, or $0.45 per diluted share, compared to GAAP net income of $6.0 million, or $0.14 per diluted share, for the full year of 2024.
Non-GAAP net income for the fourth quarter of 2025 was $14.5 million, or $0.32 per diluted share, compared to non-GAAP net income of $11.9 million, or $0.27 per diluted share, for the fourth quarter of 2024. Non-GAAP net income for the full year of 2025 was $51.5 million, or $1.15 per diluted share, compared to non-GAAP net income of $37.7 million, or $0.87 per diluted share, for the full year of 2024.
As of December 31, 2025, the Company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities of $460.6 million. Cash flow from operations was $17.3 million and $50.1 million in the fourth quarter and full year of 2025, respectively.
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.
Conference Call
Radware management will host a call today, February 11, 2026, at 8:30 a.m. ET to discuss its Fourth quarter and full year 2025 results and first quarter 2026 outlook.
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