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 and driven by strong cloud security and AI-powered solutions.

• Cloud ARR grew 22% year-over-year to $103 million, with total ARR up 10% to $257 million.

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

• North America revenue grew 24% year-over-year, now representing 45% of total revenue.

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

Financial highlights

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

• Cloud ARR increased 22% year-over-year, surpassing $100 million and representing 40% of total ARR.

• Gross profit was $67.3 million, up 10% year-over-year; gross margin was 81.8%.

• Operating income was $10.9 million (non-GAAP), a 41% increase year-over-year; adjusted EBITDA reached $12.8 million.

• Cash flow from operations was $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.