RADCOM Ltd. has reported a 20% year-over-year revenue increase for Q3 2024, reaching $15.8 million, and a positive cash flow of $4 million, elevating its cash reserves to a record $90.2 million. The company achieved a GAAP net income of $2.3 million, reversing a net loss of $0.3 million in Q3 2023. For the first nine months of 2024, RADCOM’s revenue rose by 19% to $44.8 million.
Effective December 1, 2024, RADCOM has appointed Benny Eppstein as CEO. Eppstein brings over 20 years of telecom industry experience, including leadership roles at Amdocs and Ericsson. At Amdocs, he served as General Manager and Division President for Canada, managing relationships with major operators like Sprint and T-Mobile. At Ericsson, he was Vice President, overseeing the relationship with Softbank Mobile in Japan. His extensive experience is expected to drive RADCOM’s expansion in 5G and cloud services for tier-one telecom operators.
RADCOM’s acquisition of Continual has secured a multi-year contract with a North American operator for mobility analytics. The company has raised its 2024 revenue guidance to $59-$62 million, reflecting confidence in sustained market growth and profitability.
Key Points:
• Q3 2024 revenue: $15.8 million, a 20% year-over-year increase
• Cash reserves at $90.2 million
• Benny Eppstein appointed CEO, effective December 1, 2024
• Over 20 years of telecom experience with Amdocs and Ericsson
• 2024 revenue guidance raised to $59-$62 million
• Secured multi-year North American contract post-Continual acquisition
