24/7 Market News Snapshot 13 November, 2024 – Radcom Ltd. (NASDAQ:RDCM)

November 13, 2024

DENVER, Colo., 13 November, 2024 (247marketnews.com) – (NASDAQ:RDCM) are discussed in this article.
Radcom Ltd. (RDCM) is witnessing a remarkable surge in its stock value as it opens at $11.20 and trades at $12.12, reflecting an impressive increase of nearly 12.85%. This positive momentum follows a session close of $10.74, highlighting robust investor sentiment. The trading volume has reached 511.07K, emphasizing heightened market interest. Technically, the price dynamics suggest potential for a breakout if the stock maintains its position above the $12.00 resistance level, with support identified around $11.50. Investors are encouraged to monitor volumes for sustained confirmation of this upward trend, indicating ongoing strength in Radcom’s performance.

In conjunction with this stock activity, Radcom has announced the appointment of Mr. Benny Eppstein as the new Chief Executive Officer, effective December 1, 2024. This strategic leadership change coincides with the release of the company’s impressive third-quarter financial results, which demonstrate a solid trajectory of growth and innovation.

For the third quarter of 2024, Radcom reported record revenues of $15.8 million, representing a 20% increase compared to the same period last year. The company achieved a GAAP net income of $2.3 million, translating to $0.14 diluted earnings per share, marking a significant improvement from a net loss in the previous year’s quarter. Non-GAAP net income also rose to $3.7 million, or $0.23 per diluted share, underlining strong operational performance.

Over the first three quarters of the year, Radcom experienced a revenue increase of 19%, amounting to $44.8 million, alongside a robust cash position of $90.2 million. The recent acquisition of Continual has enhanced Radcom’s service assurance capabilities, securing a multi-year contract with a North American operator for advanced mobility experience analytics. Looking forward, the company is optimistic in raising its 2024 revenue guidance to $59 to $62 million, reinforcing its commitment to profitability and market expansion in the 5G landscape.

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