RADCOM Reports Second Quarter 2017 Financial Results

TEL-AVIV, Israel, Aug. 7, 2017 /PRNewswire/ -- RADCOM Ltd. (NASDAQ: RDCM) today reported its financial results for the second quarter ended June 30, 2017.

"Our strong second quarter results were driven by our relationship with AT&T, an expansion of our relationship with one of our strategic accounts in APAC, as well as ongoing momentum with other Tier 1 service providers globally," commented Mr. Yaron Ravkaie, RADCOM's CEO.  "During the quarter, we finalized an NFV trial with a top-tier service provider, which we expect to result in a new NFV project for the company.  Given the ongoing momentum, we are reiterating our 2017 revenue guidance of $36-$39 million."

Second Quarter 2017 Financial Highlights

• Revenues: Total revenues for the second quarter were $8.9 million, up 24% compared to $7.2 million in the second quarter of 2016.  
  
• Net Income/(Loss): GAAP net loss for the period was $(0.2) million, or a loss of $(0.02) per diluted share, compared to net income of $1.7 million, or $0.17 per diluted share for the second quarter of 2016.
  
• Non-GAAP Net Income:  Non-GAAP net income for the period was $0.4 million, or $0.03 per diluted share, compared to net income of $2.0 million, or $0.20 per diluted share for the second quarter of 2016. 
  
  Both GAAP and non-GAAP results for the second quarter of 2017 included a $312,000, or $0.03 per diluted share, benefit related to grants from the Israel Innovation Authority (formerly Office of the Chief Scientist) compared to $756,000, or $0.07 per diluted share, in the second quarter of 2016.
  
• Balance sheet: As of June 30, 2017, the Company had cash and cash equivalents of $36.2 million and no debt.   

Earnings Conference Call
RADCOM's management will hold an interactive conference call today at 8:00 AM Eastern Time (15:00 Israel Time) to discuss the results and to answer participants' questions. To join the call, please call one of the following numbers approximately five minutes before the call is scheduled to begin:

From the US (toll-free): + 1-888-668-9141

From other locations: +972-3-918-0610

For those unable to listen to the call at the time, a replay will be available from August 8^th on RADCOM's website.

About RADCOM

RADCOM (NASDAQ: RDCM) is a first-mover and leading provider of NFV-ready service assurance and customer experience management solutions for Communications Service Providers (CSPs). RADCOM's software - MaveriQ - continuously monitors network performance and quality of services, to optimize user experience for CSPs' subscribers. RADCOM specializes in solutions for next-generation mobile and fixed networks, including LTE, VoLTE, IMS and others. MaveriQ enables CSPs to smoothly migrate their networks to NFV by assuring physical, NFV-based and hybrid networks. For more information, please visit www.radcom.com.

Non-GAAP Information

Certain non-GAAP financial measures are included in this press release. These non-GAAP financial measures are provided to enhance the reader's overall understanding of the Company's financial performance. By excluding non-cash stock-based compensation that has been expensed in accordance with ASC Topic 718, the Company's non-GAAP results provide information to both management and investors that is useful in assessing the Company's core operating performance and in evaluating and comparing the Company's results of operations on a consistent basis from period to period. These non-GAAP financial measures are also used by management to evaluate financial results and to plan and forecast future periods. The presentation of this additional information is not meant to be considered a substitute for the corresponding financial measures prepared in accordance with GAAP.

Risks Regarding Forward-Looking Statements

Certain statements made herein that use words such as "estimate," "project," "intend," "expect," "'believe", "may", "might", "predict", "potential", "anticipate", "plan" or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. For example, when the Company discusses its revenue guidance for 2017 and expected new projects for the Company it is using foward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in the demand for the Company's products, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the U.S. Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason.

For all investor enquiries, please contact:
Ran Vered
CFO
+972-77-774-5011
ranv@radcom.com

For all media enquiries, please contact:
Mark Rolston
Marketing Manager
+972-77-774-5036
markr@radcom.com

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SOURCE RADCOM Ltd.