RDWR - Earnings call transcript Q1 2024

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Operator

Welcome to the Radware Conference Call discussing First Quarter 2024 results, and thank you all for holding. [Operator Instructions] As a reminder, this conference is being recorded, May 8, 2024. I would now like to turn the call over to Yisca Erez, Director, Investor Relations at Radware. Please go ahead.

Yisca Erez

Thank you, operator. welcome First and Conference XXXX everyone, Call. morning, to Quarter Radware's Earnings Good

are and are website. of Zisapel, and me for of as Roy Joining today our investor the President the and financial Chief kit Investor Officer. well section as release first Guy Financial Chief in A press copy quarter today's the the statements available Avidan, Officer; Executive Relations

or impact of economic other other orders the severe During to, company. products, business forward-looking from demand time regarding in could changing include, the estimates. changes Radware's pandemic, to make today's could general or and in call, are or performance and not we from differ conditions, Factors forecast future of from risks and and cause COVID-XX statements future our forward-looking contribute projections financial the various but global and and our the may ability time in These for filings. events materially to to risks such timing conditions actual to detailed address current limited or that statements the changes the industry, are subject Radware's uncertainties, results amount differences

files or will to last SEC, and after Zisapel. you revise any statements to now the forward-looking March to with Roy call commitment We XXXX. Form on update XX, of is the report from to date the circumstances no such made. events turn the refer XX-F time undertake documents or on in order statement reflect specifically time I to We annual furnishes company's company the the as filed

Roy Zisapel

diligently earning quarter all ended expenses And above and our million. with you of XXXX high-end $X.XX; guidance. thank for profitability. improved joining revenues of share and $XX We first our We Yisca, of of the per managed both us the you, today. Thank non-GAAP

the first a account ongoing for XX% favorable previous first model. shift In and quarter, uptick year-over-year, growth deals, CapEx in our ARR increased cloud by marked to total engagement business customer and driven witnessed quarter by to of our adjusted year, environment healthier Similar X% the more XX% an we Subscription a now quarter, of demonstrating pipeline. last to large in SaaS total revenue revenues compared subscription business. in

with Our we business performance again a cloud ARR sustained growing by security bookings cloud X number growth robust and is our growth new momentum year-over-year. The of cloud underscored believe This logos. XX% security drivers new are record by behind that is business key driven also sustainable.

draws our security-conscious First, consistently customers. offering fueled product strength

a unique deals. detect new traffic large Our highly driving battery AI-powered attacks of Customers value without designed security capabilities, offering cloud leads with to logos and numerous legitimate algorithms security and these block slots. disrupting expansion

of expansion upsell additional our security growth cloud ongoing the and offering Second, opportunities. creates

The us our thank first XXXX services expansion service growth momentum services X revenues driven and cloud by we behind We and with bookings cloud announced the These and for you, application of first logos. of cloud include sustainable. organizations Thank quarter all balance new are is new in During load Radware joining new that you Esa, believe business the to enhanced and assist network optimizing services. performance, we security network the a quarter, application as a analytics our security today. drivers ended key

product drove our consistently First, fuel offering customers. security-conscious strength

to abilities, a expansion the unique these with Customers highly legitimate Our detect deals. AI-powered disrupting without slots. block battery numerous leads new traffic large designed offering security cloud of attacks logos and security driving algorithms and value

offering our of expansion creates additional opportunities. growth Second, cloud and the upsell security ongoing

and ensuring include service further load in availability assist During security These provide, application cloud monitoring application the strengthening balance our this optimizing services proposition we visibility a radar announced time. organizations quarter, value network to first a cloud as clients. They services. network complement network to during the the expansion and enhanced performance, we of and our analytics and services maximizing new

our geographical new opportunities. steady creates expansion Third, footprint, customer the it of acquisition

DDoS During in center We year. the and first additional Paris. later to plan quarter, we introduce the locations expanded new launched cloud in service our scrubbing global network a

of surge Fourth, a major conflicts sophistication DDoS These particular, intensified in A in application network Russia motivated has emerged attacks. XXXX. sophistication during last fueling and new set attacks pivotal web year demand further and led factor previous enhanced increased in to attacks, escalation frequency web X DDoS of protection. attacks This activities. in activist the quarter invasion Ukraine an trend web complexity and is been expectations layer frequency, has geopolitical the throughout attacks, for and customer and DDoS of for by wave with

is real-time protection DefensePro against and The attacks. of competitive. been advanced protection which solution, and for growing advanced has X DDoS in our DNS X web evident the success highly demand performed well DefensePro very provides

This The some AI-powered to of faster time block for maintaining automatically resolution, is business first our The offering security is continuity. of improved DDoS ability web attacks. result wins. surgically strength is value proposition in in evident customer unmatched its quarter detect to and this crucial and

For DefensePro example, protection. X in their Tier we carrier upgraded signed America North X with a X DDoS deals: major one that X-digit defense

their experienced a for replaced DDoS The our with latter X layer cloud The European win with solution provider institution was protection. a large other financial complete major incumbent DDoS cloud attack. a hybrid also that

In AI with Check first were Cisco bookings following also AI of time complex year innovating constantly attack. the partnership record to We a XXXX, with another we're also in taking protect not a and Check are but XXXX increasingly only while off fingertips Point a response, with quarter. Our contributor demonstrated our the the adaptive, Fight at to our To for approach to customers, and reduced record With threats in strong security. attackers, becoming we're fiscal start Point kicked AI offering. with our performance year.

new addition manager. AI-driven aggressive our bots manager in for example is a to the with legitimate of newest generation users. is Fight our bot without introduced of enhancements The good human-like our to designed A AI strategy blocking AI automatically mitigate we bot

our lost end-user revenues. and in like reduction For customer experience better churn means this and costly customers, impacts a business

rule-free DNS Another DDoS adapt patented automatically and example instantly distinguishes defenses specific and the it between is solution. Using based legitimate attack. algorithms, our DDoS on attack protection traffic AI-powered the

our countering DNS intelligence report, increased XXX% Flood shorten attacks to between most recent time XXXX. the algorithms threat significantly nearly new when will According XXXX DNS these sophisticated to and resolution And attacks. even

metrics innovation as market Compass receive and by KuppingerCole's an application for leader ] named reports the [ to analysts. XXXX, fourth continued as was recognition DDoS report was consecutive offering in the for In leader also Leadership Our named Radware other leader Quadrant Radware mitigation, year. Spark industry product, web as well for firewalls.

leader. XXXX Radware API In application report fast for security, a recognition as GigaOm mover and and earned

the vendor top vulnerability for we detection only scores addition, AI-enhanced to and key bot In GigaOm's earn management were features.

a security. In attacks, a with to our in of core integrated as lead in our one firewall API API evidence suite as provide center of an evaluated DDoS, pillars security market each in best and of for applications were the application capabilities while in leader web fleet the is when quarter, capability. protect and data we customers WAF, standalone and DDoS, bot This another recognized We approach.

best-of-breed best receive security of customers alongside suite. fully Our fleet, integrated a hence

ongoing results presence environment, began performance. improvements a our customer ARR, business we and call that believe cyber-attacks. OEMs. delivered momentum These meet intend for supported heightened offering response Guy. cloud market to Radware for spending XXXX profitability. in growth to were with that, faster sustained solid expanded on we demand to right We security and leverage over improved the has capitalize and the and increased We I in with by With the growth turn summary, times, the market and best-in-class rebounding will recovery In profitability, and

Guy Avidan

to the second and day, business as our for analysis of Roy, I'm for everyone. of quarter as and Thank performance first results our quarter XXXX. provide outlook well the of pleased you, good the XXXX financial

would financial press and to A the non-GAAP a and in remind you our all results earnings indicated, basis unless Before that is the beginning on on the of otherwise financial GAAP release section non-GAAP. are website. issued today like earlier I of reconciliation Investors available results our full overview,

the by Revenue the last million product XXXX for growth, by offset of $XX compared of in to driven subscription period year. million quarter and Revenue was first cloud decline. was $XX.X same

we on track. back the demand recovery customer by engagement in we not As is encouraged and Roy see completely signs spending are even highlighted, though customer

XX% compared to XX% XXXX the and QX accounted in Americas to a the $XX.X of accounts The in year similar first business last revenue revenue. the regional strength year-over-year million; year same continued XX% cloud and reached of security now the ARR XX% first to demonstrate total in for growth to with XXXX. in ARR for XXXX. similar last of Cloud ARR, million On total quarter quarter of period was $XX breakdown, cloud in

accounted revenue XX% quarter year-over-year. On XX% EMEA to decrease a in attributed revenue. XX% year-over-year. to of XXXX decreased is XX-month XXXX. recognized million The revenue first QX XX% revenue basis, XX-month deal EMEA and decreased On of mainly basis, the for decreased total large Americas a year-over-year in a $XX.X

APAC quarter an XX-month accounted revenue revenue. year-over-year. increase year-over-year a X% APAC revenue represents was and of basis, On increased first the which total $XX.X in of XXXX XX% for million, of XX%

expenses. period year-over-year the $X.X in of OpEx, of million, to the positioned XX.X% to of is and the at $X.X Gross year. better reached and QX our guidance. Operating X% million in profitability believe same last in $XX profits discuss quarters. now expenses totaled income in end to period And I'll compared decreased with was the Operating margin we level the million that XX% in same XXXX. which company is XXXX this compared lower coming

now X% in of committed and revenue with couple of QX aligned our and are margin structure a ago, highlighted was I'll compared increased drive XX-month XX% to we in keep Gross profits APAC XXXX level year-over-year. a basis, XX.X% As the period cost same XXXX. efficiencies quarters in expenses. we the discuss to

compared end totaled in decreased income which with level profitability is X% of Operating believe to the Operating same is period year. our the expenses last for reached at better OpEx, the we year-over-year million coming guidance. this quarters. million lower of that positioned And of $XX $X.X in company and $X.X the million,

a of highlighted of our ago, we operations. drive we efficiencies As to aligned keep and quarters committed couple company's structure the with are level cost

or to was the million, in profitability Hawk's our business excluding confident adjust improve million period million to The The EBITDA last to $X.X million first excluding in of Radware's or the $X.X adjusted for quarter as $X.X same Hawk's our are ability year. necessary. compared continue and $X.X We business expenses

$X.X was the Financial same level XX.X% for first period XX.X% was of income rate quarter. tax to in in compared the XXXX million expected The is of year. XXXX. This last first income quarter continue throughout to of the financial

remain rate next the approximately tax to the same quarter. expect We

last period in Diluted income year. $X.XX share Net same the was was $X.X $X.XX as million XXXX. compared in $X.X million quarter to XXXX QX compared in first earnings to QX per the for

last Turning million to balance XXXX from and flow QX operations $XX.X statement negative in the a first of from higher The from year. operations flow is the quarter period income. sheet. to XXXX in compared cash Cash of cash in the the of strong in flow same operation million net QX $X.X cash and derived from performance in and improvement billing flow XXXX was

we shares first of approximately quarter, the repurchased During $XXX,XXX. amount in the

cash, As and the $XX in bank first million million deposits repurchase in approximately ended securities. XXXX, marketable quarter of cash March XX, with plan. share approximately our remain $XXX We equivalents,

with conclude remarks I'll my guidance.

million. total be in of range second to XXXX expect the revenue $XX million quarter $XX for the of to We

between XXXX $XX million. QX be to non-GAAP to expect operating We million expenses $XX

$X.XX non-GAAP return $X.XX, the please? call an year-over-year We Operator, XXXX expect XX% be questions. increase guidance. the approximately earnings over for midpoint between per and QX to net I'll share to of representing diluted operator now the at

Operator

Thank you.

the begin Henderson first line from now question-and-answer question Alex of Instructions] Needham. your will We And of comes [Operator session. the

Alex Henderson

looks So that bit what a quarter? you're and about could the quarter you pipeline where hoping in pipeline in comments the of I book-to-bill book-to-bill you the like in kind numbers talk evident of seeing in trajectory. -- encouraging was the little the Is made the

Roy Zisapel

Alex.

We be conditions. to market improvement, Guy better long mentioned that I in to see mentioned time want but see as parking to deals improvement remarks, definitely, customers. definitely yet conservative. previous customer not do back activity, pipe in move. We were a So starting for our of tempo in it's say the We there's better and the levels, we the an

And So pipeline. overall, more booking, by for hence, encouraged we the optimistic are we are XXXX. by the

Alex Henderson

the sounds of contracts go close duration Did improved? If you could size some improve, did has improve into Just mechanics, the deal improved? deal like process off deal mechanics. that the clicking time, rates key of it

Roy Zisapel

Yes.

was pipeline we in Starting to but see. those not there, the XXXX, in meaning first advancing, our coming stalling, the in It customer discussed we for sign So expectations already think in I call, QX, the large continued quarter. saw the have the tempo deals not used we and started the up. we of in also last conference we that QX, were opening

seeing we're attacks the decisions faster strategy. on forcing a many broader that, and their customers With to application take security

are Here, this are broad very in in cycles. application we our the positioned application cloud in with fast capabilities we the web DDoS, well market, seeing security with protection. And very unique

So it's with the a continued large more business. of starting deployment to architecture say, the cloud security I would application deals, move in strong combination growth CapEx

Alex Henderson

like What has and And it is about So Okay. on process of deal rates deals duration durations? rates deal size sounds closure and improved closure as improved? times well? improved deal the

Roy Zisapel

think rates I and shortened have changed. is duration think don't I closure

was nor now it so It the not rates. faster seeing deal. are we mainly stall, the did last year, not I As win did the deal cycles. But lose, you impact said,

Alex Henderson

talk Could bring your ability traditional a you result to in terms and supply going down chain bring improvements? inventory the business? your the ADC the And of what market you about of what's little going inventory? a bit as in on on extent can traditional down to What's

Roy Zisapel

Yes.

So...

Guy Avidan

Yes.

the question. I'll So answer inventory

in last at transition end So we new the XXXX, ADC to X we peak inventory of the the us in of quarter, for and came sale expect it We of in reduce versions continue little level level. about to future. bit to terms reduced DefensePro talked quarter pushing support, place and of first XXXX, of it end of the a a a in put end

So extra levels the throughout but be to down we on just got inventory go safe side, will XXXX.

Alex Henderson

by million do of the it end of think? million. Will net So go level year, the $XX towards $X.X down the improvement you

Guy Avidan

to XX%. Closer

Alex Henderson

great. okay. XX, That's

life of so you of product some end line? portion your did And a say -- you

Roy Zisapel

we when refresh that the Yes. older It's thing platforms a the new line... we of common then generation and bring platforms,

Alex Henderson

other replacing platform line. That It's very on older or is any a And The partners? much comment were line. typically you new the Cisco older saying. the

Roy Zisapel

Yes.

a performance in as a is It's So in QX. record revenues Also record I Point year in in booking very had Check my said with following with strong XXXX. of a currently. Cisco remarks, we level

Point We to all, to relationships. also all more DefensePro in on the broadened putting offerings We're X. new of those enterprise the more So we continue and enhance Cisco Check agreements. the agreement line

by our partners better So we cooperation new and are overall of seeing in the good uptake market. OEM the offerings

So high at both relationships at those this level are a level of execution.

Alex Henderson

floor Great. back in and I'll see get the queue.

Operator

Chris Your of next Reimer the question from Barclays. of comes line

Chris Reimer

was have changing results. Congratulations more a how you talk is if and on just wondering AI. the was if fighting I a about you AI strong mentioned that? give the repel could about more in could about turn little how AI how I lot wondering color the you with landscape products -- a little to

Roy Zisapel

Thanks,. Okay.

I So are there to think aspects several that.

more quickly. their first way attack The automate is AI hackers to that scale allows and aspect

aspect the morph more meaning they we're attack most requires the seeing attack, that very starts also to X, combat difference The change quickly, we're is part which are to to during static the is simply signatures, if are And quickly. with industry in the that adjust attack is XX This working second them these way. that then is one time minutes, -- to and and better changing, the people attacks rules the for hard doing how going that the attack means and change. to because it's changing we in it mitigation attacks allows

much So block to order attacks. the more you in be more also automated different side adaptive, based, to much need the algorithmic

past, code, was what to creating vulnerability was you programs that when vulnerability, is advantage there of we take would to attack. that write aspect take the and and time In experts that a discovered need third attack. the the call The that vulnerability right

our to do attack more the what do an to call With attack. that. way The are we leadership becoming we've expert months the all to given enhance going jumped in The another way die, from to we that algorithms the getting algorithms. expertise the And order on those of it's be continue or different set game. is WAF time In be we GenAI [ I've becoming now positioned need believe ahead need we we our to what in you of analysts, that, of And or several which and but in security here. time very is is adaptive, solutions why time to This are and nonissue. examples is minutes, is to side, we a again There's done years. been by has for going our to ] don't of considerably, days now well live This This means of solutions. over QX. QX. that core indeed time statements shortened API

attack DDoS I mentioned to with with able intervention human excellent set are quickly the very mission-critical those impact extent the are our are to very to the example And It's seconds mission scale applications. XX of to an completely excellent to to ability how web example we automated that strong attacks. every no minutes. the the Those algorithm our critical X, morphing no in an customer attacks a to are hackers and attacks applications. with within mitigate

and very our us. security we it move cloud wins to from especially If WAF offering, of from a that. moves app cloud those or QX, in deployment QX, you a very, on-prem an ADC look to contributor whether of This was competitors, strong on was different many security in as an them

our different to side, be the our bringing and we as our believe going in solutions, we result, and we of actually are trends those that security to forward, application, part will will for data believe And algorithms translate in cloud meaningful benefits up ramping AI, customers. on investments a So those accelerate.

Chris Reimer

Great. it. color. great Got That's really

could you're different Just little the I of know some touch if in growth also, number. XX-month a seeing of a geographies, you about you the the number gave on and a about EMEA. also bit characteristics Americas

customers seeing could you If you're the talk for in geographies? just what about different

Roy Zisapel

Yes.

So you some seen are know to back. we a -- coming we've extent XXXX us was in now Americas the but for in EMEA difficult that year and

point, and for at view Americas our XXXX for growth. is both So EMEA this for

say, improvement very much feeling those we're more There's potential. we in the in in business the are So the seeing but clearly X would business. markets. definitely better lot the on a I cycle, beginning, We're of

Chris Reimer

That's Thanks. Great. it for me.

Operator

comes question Jefferies. line next of Your Notter from of the George

George Notter

interested just centers. was I in additional in scrubbing your investments

I mentioned going a you think in. facility Paris

think you're I what what of while scrubbing turn And you it's to that's just going see been forward I'm you that do a seeing guys marketplace terms in centers scrubbing new centers. the since added in additional the you about curious investment? have up? pushing make you

Roy Zisapel

George. Thanks,

once So It's facilities as local taxes -- especially we expansion not do localization, the to in processing geographical see from from in so government a compliance global these capacity, more more for banking, much customers, ability the areas. traffic. it's mitigate

the broad at around on. leverage Zealand throughout But MSSP announced our It's they recent definitely we we're that our data locations growth seeing in a the our additional quarters same cloud in in XXXX open security, in so open areas Taiwan we of for with MSSP centers, the especially opening do the opportunities and world. operating have from. to drivers see, need do come plans we're and do growing We one do to that. with want network different these and operation, to additional New and We today, XX so very time, We and see up. like we

George Notter

security Got traditional of presence, the it. point I'm And is your correct? sorry. MSSP

Roy Zisapel

that security application their It's DDoS service offering enhance MSSP and the into managed the around world to security. the providers want is

equipment in or New a Spark service. from and and from about seeing trying or for past, more Now were the world, they stand to Viettel Zealand, refer us and algorithms in our a around want share. competitors on, and in to they example, Vietnam, our the buying cloud it really a our to such I in announcement and We're portal, utilize [ with up state-of-the-art solution AI analytics, network, it ] in Eltel the back so them because global the allows brings solutions past capture end, to them market more more today

good Vietnam them, are serve we planning to and are It's As we opportunity business with a New that. that partners for to outcomes local continue. enjoying the the those or We're of gave I great example, opening certain example of we that as market, us. there to do for their Zealand with seen additional are power markets, centers we've

George Notter

Got it.

Okay. like helpful. you Akamai And folks FX, a or marketplace, just are then the What That's in competitively question. the seeing Cloudflare what's or broader picture? very

Roy Zisapel

Yes.

feel and So it's products. Akamai as very in security, our cloud Cloudflare. And relates about competitive our to good positioning competing with we really it the

very see opportunity see You strong from customer very But all large activity. feedback the The large. we the analysts, also is opportunity. the

that think is especially on we excelling position and our very are put top. That's security a actually there. alternative, for huge, market security-conscious competitive and the I the we strong those are we buyers, opportunity where like

customers appliances, those we definitely, we for to the satisfied in the we traditional . mitigator our activity. started I are more X, DefensePro business in of [indiscernible] large the as beyond say QX, ADC, landscape there. believe on-prem DefensePro the the and we level competitive And changes with doing XXXX. there of not reasons and we in much market. would we to the refreshes best one optimism security of with of DDoS, see see X, the QX in are Again, for now the to That's have FX in said continue quite the towards cloud In

Operator

of a have of Alex the line from We Henderson Needham. question follow-up

Alex Henderson

challenges into going on of result mechanics be the impact around is the Has and the at AI in have as AI Clearly, an of the There of of there amount increase getting a seems been their security that decision of mechanics the attention. they enterprises. Great. deployment. process most it lot to the spend an a

resulting it. seems there's now my how budget, but about -- like pretty spend, deployed most to big this I year, secure concern gee, of I last But about don't to sure from there's I to it hesitation AI I'm want exactly think but you economy. know how get not the know If a was, or

guess are how so Is does be applications that AI And drive offerings? because this you your think of you loosen do that? half bigger the And might back the I seeing going question when And to is, that, up? it? a

Roy Zisapel

Yes.

So thanks, Alex.

are behind be application. So there's about platform firewall, web is but all I which, as starting that, on. growth. it's very large is early of think some applications with and discussions application the early stronger driver teaching very AI will security, getting yet given security, very AI but And just is models and journey. Having the that the are a need obviously, platform, models end-to-end information, the to very see the again, bot deploying encompasses said criticality enterprises it, API with to especially The that, cloud don't they and data going it's correct applications, And DDoS, security our important AI and data that strong and on. very I stronger. a is which and ensuring the important be once that have we going application security, right

can a our customer that sustained forecast building are need AI are very in that we backed security, for think or application, with better what going whether our started. or start. think it's landscape, we We an area. be also and So analysis positioned. that growth the the I it's offering counting to that think in attack drive we application wave not to on I application for current And have XXXX, don't has well mission-critical

Alex Henderson

you globe. the and those over that on coming X sound Is of some regional that -- and traction because Over signs to supply finally slew years, loss conditions are expansion guys signed that now, -- macro across is distribution chain like partnerships XX that back that It over years you issues. showing some partners and have you the of life? announced the and all of counted have basis stalled kind last X the a of does those

Roy Zisapel

Yes.

their said, new scaling would with those have some of you logo they and do their I ARR So are like and some contribution say increasing the participation. some contributing, stalled, wins. and partners see are not increasing We the definitely us but

definitely carriers, some playing So And see partners, mix We cloud that's helping growth the do years plan VARs last in that. by definitely driven regular those that enhance of partnerships. we XX% of is in security. plus in area. MSSPs, the ARR. couple cloud our of we are to This And a consistent application our enjoying

If you look at MSSP it's on, around those our and targeting so our definitely programs partnerships. announcements

Alex Henderson

competing are the Makes The Akamai Congratulations. brings sense. in dynamics And API the just does at question One announced question. Good. about that no you name change market. players the up acquisition more salts? in that that in names you no the Akamai, all private with acquisition Are do the seeing think?

Roy Zisapel

Yes.

working your seeing what and value And be WAF, putting are believe Definitely, players really the develop. and still but and into that I think bot continue API of that So the I you program an security private a the need set security, the fact it's companies on are security. API to we for integrated in whole platform application another will and proof cloud application the we're that security point to that's that. DDoS, in solution winning importance

just leadership As I've GigaOm security. mentioned, we good won very We API by there. in feel

well. I signs algorithms we've our on are put I positioned investors. in But place, integrated think platform and are those think we for based the good

are as and well to on players our API security. we And and point proof value API in building focused another the the security. seeing strategy, potential that definitely our scaling different are and So market

Alex Henderson

see, a Look, cold on winter. It's Great. congratulations the nice quarter it's to and of signs been reacceleration. life the

Operator

of next Horan of from question Your Oppenheimer. comes the Tim line

Timothy Horan

also are or lot what more does the is? think has compute. And Do do right on X there's turn kind you forms of things competitors and/or you're -- benefits you competitive the your caused for kind I things doing? of that's of or kind of make it that Some think how that different a really of the and And secondly, the congratulations going to networking of different and or bundling not? you strategy in less think What's sustainable on, forms but cut, what's around? the X the that turnaround here. key in know

Roy Zisapel

landscape. on points we in so offering There are the several are security competitive bundling, the So on the side. networking, are edge and market compute, that focused security on,

So mentioned, security-conscious really in the and the large this definition think We And best center integrated application buyers so as of the that's our right everything that. we've data definition. taking in right best and security. for suite for suite, the security best-of-breed enterprises, providing that's

compute. into not go edge planning are to We

We partnerships have think are into that. the the our and to complete we with on needed, decisions what We can GCP it's enterprise step put to And leverage our that drives security not if large going segment. the critical. arena. We're others. buying focus But like in We think going AWS, that. we

think improvement the the I cloud. the a continuous And growth The cloud drives we bigger the of and on. a becoming it. bigger lot it comes and It in Regarding to new that's the ARR logo so grow of portion uptake, business, customer X is impacting from areas: business. as one, wins continue

the first that's So item.

X. tools. web mode, in movement They back some the we're DDoS move The attacks especially the overall improvement, those in they to and protection they're to a the large time. in large stalled with enterprises all forward for the starting capacity running DefensePro seeing, on second attacks; It's do better to need second, combination item DNS and they that see quite attacks, need the of CapEx that the investment we've mentioned, deals

contribute is the And XXXX. we that assisting. continue progress we're to We believe also pipeline seeing like So the there. in and we'll

efficiency. we've And mentioned, improvement profitability that also, is in expenses Guy aligned and thing better. third that like the And drives our

major profitability X movement in by our is those business mentioned, attack enterprises, prudent large We we the grow to will believe building And leverage. overall blocks, continue. continue there to expenses the So driven the we're landscape ensure very we in believe seeing in we should Guy security though as are the managing the in cloud. are the

Operator

remarks. time. I closing now to There back are no turn further questions at over for Roy conference the will this the

Roy Zisapel

Okay. have joining for Thank today, you, everyone, great day. us a and

Operator

all conference you call. today's for you. Thank That Thank joining. concludes

disconnect. now You may

Radware (RDWR) 8 May 242024 Q1 Earnings call transcript