Radware (RDWR) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $82.3 million, up 11% year-over-year, marking the seventh consecutive quarter of double-digit growth.

• Cloud ARR reached $103 million, up 22% year-over-year, with total ARR at $257 million.

• Cloud security, especially API security and new AI-driven solutions, drove recurring revenue growth and customer wins.

• Launched Xploit Shield, an AI-powered product addressing rapid vulnerability exploitation, receiving strong market interest.

• Positioned as a leader in cloud-first, AI-driven cybersecurity with strong innovation and market recognition.

Financial highlights

• Q2 2026 revenue: $82.3 million, up 11% year-over-year.

• Cloud ARR surpassed $100 million, up 22% year-over-year, now 40% of total ARR.

• Gross profit: $67.3 million (non-GAAP), gross margin at 81.8%.

• Non-GAAP net income from continuing operations: $13 million; diluted EPS $0.30.

• Cash flow from operations: $13 million; ended quarter with $422.9 million in cash and equivalents.

Outlook and guidance

• Q3 2026 revenue expected between $82.5 million and $83.5 million.

• Q3 2026 non-GAAP operating expenses projected at $57–$58 million.

• Q3 2026 non-GAAP diluted EPS expected between $0.28 and $0.29.

• Cloud ARR target set to reach 25% growth as a next milestone.

• Management highlighted significant opportunities for continued growth and long-term shareholder value based on platform expansion and market position.