On Thursday RADCOM Ltd. (NASDAQ:RDCM) started its trading session with the price $9.41 and closed at price of $10.07 by scoring 3.6%. Day range of the stock was $8.7 – $10.07. RDCM stock traded with total volume of 42671 shares while the average trading capacity remained 14839 shares. Earnings per share was $-0.18. RDCM has total market capitalization of $138331585.
On Nov. 7, 2019, RADCOM Ltd. (NASDAQ:RDCM) notified its financial results for the third quarter ended September 30, 2019.
We are pleased to announce that RADCOM’s revenue grew 10% over the previous quarter. We have experienced steady growth this year, reflecting the continued progress we are making with our advanced virtual technology as well as the success of our agreements with Rakuten Mobile, AT&T, and other customers, commented Mr. Yaron Ravkaie, RADCOM’s CEO. We are encouraged by the traction we are gaining due to our technological expertise, evidenced by our increasing customer base, which includes multi-year agreements with Rakuten Mobile and now VimpelCom, one of the leading operators in Russia. These partnerships are providing us with enhanced, multi-year visibility into the Company’s revenue stream.
Third Quarter 2019 Financial Highlights:
- Revenues: Total revenues for the third quarter were $9.4 million, up 10% compared to $8.5 million in the third quarter of 2018.
- Net Income (loss): GAAP net loss for the period was $(1.7) million, or $(0.12) per diluted share, compared to GAAP net income of $0.6 million, or $0.05 per diluted share for the third quarter of 2018.
- Non-GAAP Net Income (loss): Non-GAAP net loss for the period was $(1.0) million, or $(0.07) per diluted share, compared to non-GAAP net income of $1.0 million, or $0.07 per diluted share for the third quarter of 2018.
- Balance sheet: As of September 30, 2019, the Company had cash and cash equivalents and short-term bank deposits of $68.1 million and no debt.
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