For fiscal 2025 (ended Dec 31, 2025), Radware Ltd. reported $301.85M of revenue and $20.26M of net income.
RDWR revenue was $301.85M for fiscal 2025 (ended Dec 31, 2025), up 9.8% from fiscal 2024. Compound annual growth was +3.8% over 5 years and +3.4% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.
RDWR net income was $20.26M for fiscal 2025 (ended Dec 31, 2025), up 235.5% from fiscal 2024. Compound annual growth was +16.0% over 5 years and +0.9% over 10 years.
RDWR diluted EPS was $0.45 for fiscal 2025 (ended Dec 31, 2025), up 221.4% from fiscal 2024. Compound annual growth was +17.6% over 5 years and +1.2% over 10 years.
RDWR free cash flow was $41.55M for fiscal 2025 (ended Dec 31, 2025), down 37.4% from fiscal 2024. Compound annual growth was -5.5% over 5 years and +5.1% over 10 years.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $301.85M | $274.88M | $261.29M | $293.43M | $286.50M | $250.03M | $252.07M | $234.40M | $211.37M | $196.59M |
| Cost of revenue | $58.34M | $53.25M | $51.71M | $53.88M | $52.45M | $45.08M | $45.17M | $41.67M | $39.62M | $35.70M |
| Gross profit | $243.51M | $221.63M | $209.58M | $239.54M | $234.05M | $204.94M | $206.90M | $192.73M | $171.75M | $160.89M |
| Research and development | $78.98M | $74.72M | $82.62M | $86.56M | $74.10M | $66.84M | $61.84M | $57.67M | $59.00M | $51.73M |
| Selling, general and admin | $25.54M | $28.34M | $32.41M | $29.79M | $21.89M | $18.92M | $18.58M | $16.14M | $17.58M | $18.13M |
| Operating income | $11.41M | -$3.89M | -$31.68M | -$3.34M | $18.23M | $6.17M | $16.92M | $7.52M | -$6.67M | -$12.75M |
| Pre-tax income | $29.31M | $12.66M | -$17.75M | $4.71M | $22.63M | $13.96M | $25.71M | $14.80M | -$1.84M | -$7.01M |
| Income tax | $9.05M | $6.63M | $3.84M | $4.88M | $14.82M | $4.33M | $3.14M | $3.06M | $5.65M | $1.65M |
| Net income | $20.26M | $6.04M | -$21.59M | -$166.0K | $7.81M | $9.64M | $22.57M | $11.73M | -$7.49M | -$8.66M |
| EPS, basic | $0.47 | $0.14 | -$0.50 | $0.00 | $0.17 | $0.21 | $0.48 | $0.26 | -$0.17 | -$0.20 |
| EPS, diluted | $0.45 | $0.14 | -$0.50 | $0.00 | $0.16 | $0.20 | $0.47 | $0.25 | -$0.17 | -$0.20 |
| Diluted shares | 44.7M | 43.4M | 42.9M | 44.9M | 47.5M | 47.7M | 48.5M | 47.7M | 43.5M | 43.9M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $105.08M | $98.71M | $70.54M | $46.19M | $92.51M | $54.77M | $40.75M | $45.20M | $65.24M | $79.64M |
| Receivables | $35.02M | $16.82M | $20.27M | $17.75M | $13.19M | $16.85M | $22.61M | $17.17M | $16.15M | $19.41M |
| Inventory | $13.22M | $14.03M | $15.54M | $11.43M | $11.58M | $13.94M | $13.94M | $18.40M | $18.77M | $17.11M |
| Current assets | $316.51M | $320.88M | $375.93M | $334.42M | $320.71M | $347.80M | $221.97M | $359.04M | $250.46M | $266.77M |
| Goodwill | $68.01M | $68.01M | $68.01M | $68.01M | $41.14M | $41.14M | $41.14M | $32.17M | $32.17M | $30.07M |
| Total assets | $671.16M | $618.68M | $571.92M | $643.59M | $635.37M | $623.26M | $595.20M | $532.72M | $471.41M | $430.34M |
| Current liabilities | $194.28M | $168.47M | $155.01M | $164.03M | $165.89M | $143.75M | $125.54M | $118.03M | $107.37M | $85.26M |
| Total liabilities | $280.48M | $261.60M | $248.64M | $275.14M | $265.38M | $234.80M | $199.87M | - | - | - |
| Shareholders' equity | $349.36M | $316.27M | $323.27M | $368.44M | $369.99M | $388.46M | $395.33M | $363.96M | $315.36M | $299.76M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $50.09M | $71.61M | -$3.50M | $32.15M | $71.77M | $63.87M | $52.85M | $49.25M | $31.46M | $38.48M |
| Capital expenditures | $8.54M | $5.28M | $5.43M | $8.81M | $5.60M | $8.67M | $8.15M | $8.87M | $7.21M | $9.40M |
| Free cash flow | $41.55M | $66.33M | -$8.93M | $23.33M | $66.17M | $55.19M | $44.70M | $40.38M | $24.25M | $29.08M |
| Investing cash flow | -$30.07M | -$39.52M | $92.78M | -$56.02M | $7.85M | -$14.37M | -$50.79M | -$85.50M | -$56.34M | $28.36M |
| Financing cash flow | -$13.66M | -$3.91M | -$64.93M | -$22.46M | -$41.88M | -$35.48M | -$6.51M | $16.22M | $10.48M | -$20.94M |
| Share repurchases | $10.49M | $839.0K | $63.23M | $59.49M | $52.47M | $45.33M | $24.51M | $4.28M | $413.0K | $21.98M |
| Stock-based compensation | $24.04M | $26.03M | $34.02M | $27.35M | $17.57M | $16.55M | $13.06M | $12.50M | $13.03M | $11.52M |
| Depreciation and amortization | $11.68M | $11.84M | $12.24M | $11.69M | $10.20M | $10.56M | $11.28M | $9.78M | $11.23M | $10.37M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | 9.8% | 5.2% | -11.0% | 2.4% | 14.6% | -0.8% | 7.5% | 10.9% | 7.5% | -9.2% |
| Net income growth, YoY | 235.5% | - | - | - | -18.9% | -57.3% | 92.3% | - | - | - |
| EPS growth, YoY | 221.4% | - | - | -100.0% | -20.0% | -57.4% | 88.0% | - | - | - |
| Gross margin | 80.7% | 80.6% | 80.2% | 81.6% | 81.7% | 82.0% | 82.1% | 82.2% | 81.3% | 81.8% |
| Operating margin | 3.8% | -1.4% | -12.1% | -1.1% | 6.4% | 2.5% | 6.7% | 3.2% | -3.2% | -6.5% |
| Net margin | 6.7% | 2.2% | -8.3% | -0.1% | 2.7% | 3.9% | 9.0% | 5.0% | -3.5% | -4.4% |
| Free cash flow margin | 13.8% | 24.1% | -3.4% | 8.0% | 23.1% | 22.1% | 17.7% | 17.2% | 11.5% | 14.8% |
| Return on equity | 5.8% | 1.9% | -6.7% | -0.0% | 2.1% | 2.5% | 5.7% | 3.2% | -2.4% | -2.9% |
| Return on assets | 3.0% | 1.0% | -3.8% | -0.0% | 1.2% | 1.5% | 3.8% | 2.2% | -1.6% | -2.0% |
| Current ratio | 1.63 | 1.90 | 2.43 | 2.04 | 1.93 | 2.42 | 1.77 | 3.04 | 2.33 | 3.13 |
Source: XBRL data Radware Ltd. files with the SEC, latest filing dated Mar 31, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
Per-share figures and share counts are restated for stock splits the filings show: 2-for-1, first reported Mar 31, 2014.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
Foreign private issuers file annual reports with the SEC, so there are no quarterly statements here.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| RDWR | $301.85M | +9.8% | $20.26M | 6.7% | $1.35B |
| FFIV | $3.31B | +9.4% | $726.51M | 22.0% | $17.99B |
| NTCT | $886.33M | +2.7% | $129.60M | 14.6% | $2.31B |
| ATEN | $327.04M | +15.0% | $47.94M | 14.7% | $2.11B |