- Radcom Ltd RDCM reported first-quarter FY21 revenue growth of 9.8% year-on-year to $9.14 million, missing the analyst consensus of $9.21 million.
- Non-GAAP gross profit rose 29.9% Y/Y to $6.8 million. Gross margin expanded 1,140 basis points to 74.1%.
- Adjusted operating loss declined 55.2% Y/Y to $1.13 million.
- Non-GAAP net loss declined 58% Y/Y to $1 million with an adjusted EPS loss of ($0.07), beating the analyst consensus ($0.08) loss.
- Radcom held $67.3 million in cash and equivalents.
- Guidance: Radcom reiterated its FY21 revenue guidance of $39 million - $41 million compared to the analyst consensus of $39.6 million.
- Radcom continued to invest and strengthen its position as the leading 5G assurance provider, CEO Eyal Harari said.
- Price action: RDCM shares traded higher by 2.66% at $9.65 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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