$RDCM

RADCOM LTD

CIK:0001016838|SEC Filings

Consolidated Statements of Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues:
Revenues	$ 71,494	$ 61,009	$ 51,600
Cost of revenues:
Cost of revenues	17,193	15,746	13,773
Gross profit	54,301	45,263	37,827
Operating expenses:
Research and development	20,239	18,659	19,575
Less - royalty-bearing participation	363	684	736
Research and development, net	19,876	17,975	18,839
Sales and marketing	19,683	17,794	14,592
General and administrative	6,439	6,407	5,058
Total operating expenses	45,998	42,176	38,489
Operating income (loss)	8,303	3,087	(662)
Financial income, net	4,283	4,115	4,557
Income before taxes on income	12,586	7,202	3,895
Taxes on income	595	234	182
Net income	$ 11,991	$ 6,968	$ 3,713
Basic net income per Ordinary Share (in Dollars per share)	$ 0.74	$ 0.44	$ 0.25
Diluted net income per Ordinary Share (in Dollars per share)	$ 0.71	$ 0.43	$ 0.24
Weighted average number of Ordinary Shares used in computing basic net income per Ordinary Share (in Shares)	16,266,468	15,666,457	15,098,642
Weighted average number of Ordinary Shares used in computing diluted net income per Ordinary Share (in Shares)	16,835,529	16,155,150	15,297,947
Products
Revenues:
Revenues	$ 36,901	$ 28,217	$ 22,840
Cost of revenues:
Cost of revenues	10,177	7,092	5,662
Services
Revenues:
Revenues	34,593	32,792	28,760
Cost of revenues:
Cost of revenues	$ 7,016	$ 8,654	$ 8,111

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 11,991	$ 6,968	$ 3,713
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	694	679	621
Share-based compensation	6,116	6,097	6,117
Change in:
Severance pay, net	476	297	137
Trade receivables, net	(1,201)	(5,642)	(2,332)
Other account receivables and prepaid expenses and other long-term assets	425	(2,185)	1,381
Inventories, net	1,266	(1,421)	552
Trade payables	181	(175)	(17)
Employees and payroll accruals	128	1,816	192
Other liabilities and accrued expenses	465	1,537	2,225
Deferred revenue	(5,749)	5,390	(5,580)
Changes in operating lease right-of-use assets and liabilities, net	353	11	(48)
Accrued interest on bank deposits and other	(538)	(1,984)	(2,255)
Net cash provided by operating activities	14,607	11,388	4,706
Cash flows from investing activities:
Business acquisitions, net of cash acquired (Refer to Note 10)			(2,477)
Investment in short-term deposits	(95,010)	(75,500)	(65,000)
Proceeds from short-term deposits	91,383	73,189	64,115
Purchase of property and equipment	(384)	(427)	(232)
Net cash used in investing activities	(4,011)	(2,738)	(3,594)
Cash flows from financing activities:
Proceeds from exercise of options	335
Net cash provided by financing activities	335
Foreign currency translation adjustments on cash and cash equivalents	312	(299)	253
Increase in cash and cash equivalents	11,243	8,351	1,365
Cash and cash equivalents at beginning of the year	19,243	10,892	9,527
Cash and cash equivalents at end of the year	30,486	19,243	10,892
(a) Non-cash investing activities:
Purchase of property and equipment	33	41	43
Reclassification from inventories to fixed assets	83
Lease liabilities arising from obtaining right-of-use-assets	341	2,709	202
(b) Cash paid during the year:
Taxes on income	$ 485	$ 278	$ 190

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 30,486	$ 19,243
Short-term bank deposits	79,437	75,429
Trade receivables, net	20,245	19,038
Inventories, net	318	1,667
Other accounts receivable and prepaid expenses	2,036	1,819
Total current assets	132,522	117,196
NON- CURRENT ASSETS:
Severance pay fund	3,431	2,985
Other long-term assets	2,866	3,484
Property and equipment, net	988	879
Operating lease right-of-use assets	2,898	3,421
Goodwill	1,243	1,243
Intangible assets, net	1,026	1,366
Total non-current assets	12,452	13,378
Total assets	144,974	130,574
CURRENT LIABILITIES:
Trade payables	2,632	2,457
Employees and payroll accruals	7,325	7,175
Deferred revenues	1,100	6,848
Current maturities of lease liabilities	1,099	966
Other liabilities and accrued expenses	10,872	10,463
Total current liabilities	23,028	27,909
NON-CURRENT LIABILITIES:
Accrued severance pay	4,790	3,868
Operating lease liabilities	2,135	2,438
Other liabilities and accrued expenses	916	683
Total non-current liabilities	7,841	6,989
Total liabilities	30,869	34,898
COMMITMENTS AND CONTINGENCIES
Share capital:
Ordinary Shares of NIS 0.20 par value: Authorized: 20,000,000 shares at December 31, 2025 and 2024; 16,628,757 and 15,951,648 shares issued and 16,592,725 and 15,915,616 shares outstanding at December 31, 2025 and 2024, respectively	809	769
Additional paid-in capital	167,172	160,761
Accumulated other comprehensive loss	(2,923)	(2,910)
Accumulated deficit	(50,953)	(62,944)
Total shareholders’ equity	114,105	95,676
Total liabilities and shareholders’ equity	$ 144,974	$ 130,574