{"id":1661,"date":"2018-02-13T17:02:13","date_gmt":"2018-02-13T17:02:13","guid":{"rendered":"https:\/\/radcom.com\/?post_type=latest-news&#038;p=1661"},"modified":"2023-07-31T12:55:59","modified_gmt":"2023-07-31T12:55:59","slug":"radcom-reports-fourth-quarter-and-full-year-2017-financial-results","status":"publish","type":"latest-news","link":"https:\/\/radcom.com\/latest-news\/radcom-reports-fourth-quarter-and-full-year-2017-financial-results\/","title":{"rendered":"RADCOM Reports Fourth Quarter and Full Year 2017 Financial Results"},"content":{"rendered":"\n<p>\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<em>Q4 Revenues up 32% Year-Over-Year to $10.6 million<\/em><\/p>\n\n\n\n<p>\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<em>2017 full year Revenues up 26% Year-Over-Year to a record of $37.2 million<\/em><\/p>\n\n\n\n<p>\u00b7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<em>Cash, cash equivalents and short-term bank deposits of $62.6 million and No Debt&nbsp;<\/em><\/p>\n\n\n\n<p><strong>TEL AVIV, Israel \u2013 February 13, 2018 \u2212 RADCOM Ltd. (NASDAQ: RDCM),<\/strong>&nbsp;today reported its financial results for the fourth quarter and fiscal year ended December 31, 2017.<\/p>\n\n\n\n<p>\u201cWe were very pleased with our fourth quarter results, which marked a strong end to the year. In 2017, we successfully executed our growth strategy and extended our leadership position in NFV with the signing of another top-tier carrier,\u201d commented Mr. Yaron Ravkaie, RADCOM\u2019s CEO. \u201cWe entered 2018 with a strong pipeline of opportunities with other leading global carriers as our hybrid approach of enabling a path to NFV, and future proofing purchasing decisions, continues to resonate with customers. Our 2018 revenue guidance of $43-$47 million reflects the ongoing momentum we see in our business.\u201d<\/p>\n\n\n\n<p><strong>Fourth Quarter 2017 Financial Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenues:&nbsp;<\/strong>Total revenues for the fourth quarter were $10.6 million, up 32% compared to $8.0 million in the fourth quarter of 2016.&nbsp;<\/li>\n\n\n\n<li><strong>Net Income:<\/strong>&nbsp;GAAP net income for the period was $2.3 million, or $0.17 per diluted share, compared to a GAAP net loss of $0.7 million, or $0.06 loss per diluted share for the fourth quarter of 2016.<\/li>\n\n\n\n<li><strong>Non-GAAP Net Income:<\/strong>&nbsp;Non-GAAP net income for the period was $2.7 million, or $0.21 per diluted share, compared to non-GAAP net income of $0.4 million, or $0.04 per diluted share for the fourth quarter of 2016.<\/li>\n<\/ul>\n\n\n\n<p>Both GAAP and non-GAAP results for the fourth quarter of 2017 included a $1.1 million, or $0.08 per diluted share, benefit related to grants from the Israel Innovation Authority (formerly Office of the Chief Scientist), compared to $552,000, or $0.05 per diluted share, in the fourth quarter of 2016.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Balance sheet:&nbsp;<\/strong>As of December 31, 2017, the Company had cash, cash equivalents and short-term bank deposits of $ 62.6 million and no debt.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><strong>Full<\/strong><strong>&nbsp;Year 2017 Financial Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Revenues:&nbsp;<\/strong>Total revenues for the full year 2017 were $37.2 million, up 26% compared to $29.5 million in the full year 2016.&nbsp;<\/li>\n\n\n\n<li><strong>Net Income:<\/strong>&nbsp;GAAP net income for the full year 2017 was $2.9 million, or $0.23 per diluted share, compared to $1.9 million, or $0.18 per diluted share for the full year 2016.<\/li>\n\n\n\n<li><strong>Non-GAAP Net Income:<\/strong>&nbsp; Non-GAAP net income for the period was $5.1 million, or $0.41 per diluted share, compared to non-GAAP net income of $4.8 million, or $0.44 per diluted share for the full year 2016.<\/li>\n<\/ul>\n\n\n\n<p>Both GAAP and non-GAAP results for the full year 2017 included a $1.6 million, or $0.13 per diluted share, benefit related to grants from the Israel Innovation Authority (formerly Office of the Chief Scientist), compared to $1.7 million, or $0.16 per diluted share, in 2016.<\/p>\n\n\n\n<p><strong>Earnings Conference Call<\/strong><br>RADCOM&#8217;s management will hold an interactive conference call today at 8:00 AM Eastern Time (15:00 Israel Time) to discuss the results and to answer participants&#8217; questions. To join the call, please call one of the following numbers approximately five minutes before the call is scheduled to begin:<\/p>\n\n\n\n<p>From the US (toll-free): + 1-888-668-9141<\/p>\n\n\n\n<p>From other locations: +972-3-918-0609<\/p>\n\n\n\n<p>For those unable to listen to the call at the time, a replay will be available from February 14, 2018, on RADCOM&#8217;s website.<\/p>\n\n\n\n<p>##<\/p>\n\n\n\n<p>For all investor enquiries, please contact:<\/p>\n\n\n\n<p>Ran Vered<\/p>\n\n\n\n<p>CFO<\/p>\n\n\n\n<p>+972-77-774-5011<\/p>\n\n\n\n<p><a href=\"mailto:ranv@radcom.com\" rel=\"nofollow\">ranv@radcom.com<\/a>\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p>For all media enquiries, please contact:<\/p>\n\n\n\n<p>Mark Rolston<\/p>\n\n\n\n<p>Marketing Manager<\/p>\n\n\n\n<p>+972-77-774-5036<\/p>\n\n\n\n<p><a href=\"mailto:markr@radcom.com\" rel=\"nofollow\">markr@radcom.com<\/a>\u00a0\u00a0\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>About RADCOM<\/strong><\/h3>\n\n\n\n<p>RADCOM (NASDAQ: RDCM) is the leading expert in probe-based SDN\/NFV service assurance for telecom operators. Providing a critical first step in an operator&#8217;s NFV transformation, RADCOM&#8217;s cloud-native software &#8211; MaveriQ &#8211; delivers end-to-end network visibility and customer insights across virtual and hybrid networks to ensure end-to-end service quality and customer satisfaction. With an automated, cost-efficient, on-demand solution RADCOM specializes in assuring next-generation, high capacity networks, including LTE, Advanced-LTE, 5G, IMS, SDN\/NFV and others. For more information on how to RADCOMize your network, today, please visit\u00a0www.radcom.com, the content of which does not form a part of this press release.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Non-GAAP Information<\/strong><\/h3>\n\n\n\n<p>Certain non-GAAP financial measures are included in this press release. These non-GAAP financial measures are provided to enhance the reader&#8217;s overall understanding of the Company\u2019s financial performance. By excluding non-cash stock-based compensation that has been expensed in accordance with ASC Topic 718 and non-cash write-off of importation taxes, the Company\u2019s non-GAAP results provide information to both management and investors that is useful in assessing the Company\u2019s core operating performance and in evaluating and comparing the Company\u2019s results of operations on a consistent basis from period to period. These non-GAAP financial measures are also used by management to evaluate financial results and to plan and forecast future periods. The presentation of this additional information is not meant to be considered a substitute for the corresponding financial measures prepared in accordance with GAAP.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Risks Regarding Forward-Looking Statements<\/strong><\/h3>\n\n\n\n<p>Certain statements made herein that use words such as \u201cestimate,\u201d \u201cproject,\u201d \u201cintend,\u201d \u201cexpect,\u201d \u201cbelieve\u201d, &#8220;may&#8221;, &#8220;might&#8221;, &#8220;predict&#8221;, &#8220;potential&#8221;, &#8220;anticipate&#8221;, &#8220;plan&#8221; or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. For example, when the Company discusses its revenue guidance for 2018, pipeline and expected new projects with new and future customers for the Company as well as maintaining its leadership position in the market it is using forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in the demand for the Company\u2019s products, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company\u2019s business, reference is made to the Company\u2019s reports filed from time to time with the U.S. Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>RADCOM LTD.<\/strong><strong>Consolidated Statements of Operations<\/strong>(thousands of U.S. dollars, except share and per share data)<\/td><\/tr><tr><td>&nbsp;<\/td><td><strong>Three months ended<\/strong><strong>December 31,<\/strong>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>Twelve months ended<\/strong><strong>December 31,<\/strong>&nbsp;<\/td><\/tr><tr><td>&nbsp;<\/td><td><strong>2017<\/strong><\/td><td>&nbsp;<\/td><td><strong>2016<\/strong><\/td><td>&nbsp;<\/td><td><strong>2017<\/strong><\/td><td>&nbsp;<\/td><td><strong>2016<\/strong><\/td><\/tr><tr><td>Revenues<\/td><td>$10,631<\/td><td>&nbsp;<\/td><td>$8,037<\/td><td>&nbsp;<\/td><td>$37,233<\/td><td>&nbsp;<\/td><td>$29,510<\/td><\/tr><tr><td>Cost of revenues<\/td><td>2,660<\/td><td>&nbsp;<\/td><td>2,796<\/td><td>&nbsp;<\/td><td>10,488<\/td><td>&nbsp;<\/td><td>8,982<\/td><\/tr><tr><td>Gross profit<\/td><td>7,971<\/td><td>&nbsp;<\/td><td>5,241<\/td><td>&nbsp;<\/td><td>26,745<\/td><td>&nbsp;<\/td><td>20,528<\/td><\/tr><tr><td>Research and development, gross<\/td><td>3,055<\/td><td>&nbsp;<\/td><td>2,594<\/td><td>&nbsp;<\/td><td>10,562<\/td><td>&nbsp;<\/td><td>8,047<\/td><\/tr><tr><td>Less &#8211; royalty-bearing participation<\/td><td>1,132<\/td><td>&nbsp;<\/td><td>552<\/td><td>&nbsp;<\/td><td>1,599<\/td><td>&nbsp;<\/td><td>1,693<\/td><\/tr><tr><td>Research and development, net<\/td><td>1,923<\/td><td>&nbsp;<\/td><td>2,042<\/td><td>&nbsp;<\/td><td>8,963<\/td><td>&nbsp;<\/td><td>6,354<\/td><\/tr><tr><td>Sales and marketing, net<\/td><td>2,777<\/td><td>&nbsp;<\/td><td>2,917<\/td><td>&nbsp;<\/td><td>10,996<\/td><td>&nbsp;<\/td><td>8,528<\/td><\/tr><tr><td>General and administrative<\/td><td>1,042<\/td><td>&nbsp;<\/td><td>1,060<\/td><td>&nbsp;<\/td><td>4,191<\/td><td>&nbsp;<\/td><td>4,523<\/td><\/tr><tr><td>Total operating expenses<\/td><td>5,742<\/td><td>&nbsp;<\/td><td>6,019<\/td><td>&nbsp;<\/td><td>24,150<\/td><td>&nbsp;<\/td><td>19,405<\/td><\/tr><tr><td>Operating income (loss)<\/td><td>2,229<\/td><td>&nbsp;<\/td><td>(778)<\/td><td>&nbsp;<\/td><td>2,595<\/td><td>&nbsp;<\/td><td>1,123<\/td><\/tr><tr><td>Financial income, net<\/td><td>64<\/td><td>&nbsp;<\/td><td>41<\/td><td>&nbsp;<\/td><td>389<\/td><td>&nbsp;<\/td><td>816<\/td><\/tr><tr><td>Income (loss) before taxes<\/td><td>2,293<\/td><td>&nbsp;<\/td><td>(737)<\/td><td>&nbsp;<\/td><td>2,984<\/td><td>&nbsp;<\/td><td>1,939<\/td><\/tr><tr><td>Taxes on income<\/td><td>(35)<\/td><td>&nbsp;<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>(83)<\/td><td>&nbsp;<\/td><td>(24)<\/td><\/tr><tr><td>Net income (loss)<\/td><td>$2,258<\/td><td>&nbsp;<\/td><td>$(737)<\/td><td>&nbsp;<\/td><td>$2,901<\/td><td>&nbsp;<\/td><td>$1,915<\/td><\/tr><tr><td>Basic net income (loss) perordinary share<\/td><td>&nbsp;$0.17<\/td><td>&nbsp;<\/td><td>&nbsp;$(0.06)<\/td><td>&nbsp;<\/td><td>&nbsp;$0.24<\/td><td>&nbsp;<\/td><td>&nbsp;$0.18<\/td><\/tr><tr><td>Diluted net income (loss) perordinary share<\/td><td>&nbsp;$0.17<\/td><td>&nbsp;<\/td><td>&nbsp;$(0.06)<\/td><td>&nbsp;<\/td><td>&nbsp;$0.23<\/td><td>&nbsp;<\/td><td>&nbsp;$0.18<\/td><\/tr><tr><td>Weighted average number of&nbsp;ordinary shares used incomputing basic net income (loss)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>per ordinary share<\/td><td>&nbsp;&nbsp;&nbsp;13,050,849<\/td><td>&nbsp;<\/td><td>&nbsp;&nbsp;&nbsp;11,548,059<\/td><td>&nbsp;<\/td><td>&nbsp;&nbsp;&nbsp;12,039,176<\/td><td>&nbsp;<\/td><td>&nbsp;&nbsp;&nbsp;10,406,897<\/td><\/tr><tr><td>Weighted average number of&nbsp;ordinary shares used incomputing diluted net income (loss)per ordinary share<\/td><td>&nbsp;&nbsp;&nbsp;13,339,174<\/td><td>&nbsp;<\/td><td>&nbsp;&nbsp;&nbsp;11,548,059<\/td><td>&nbsp;<\/td><td>&nbsp;&nbsp;&nbsp;12,351,566<\/td><td>&nbsp;<\/td><td>&nbsp;&nbsp;&nbsp;10,779,547<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>RADCOM LTD.<\/strong><strong>RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION<\/strong>(thousands of U.S. dollars, except share and per share data)&nbsp;<\/td><\/tr><tr><td>&nbsp;<\/td><td><strong>T<\/strong><strong>h<\/strong><strong>r<\/strong><strong>e<\/strong><strong>e months ended&nbsp;&nbsp;<\/strong><br><strong>December 31,&nbsp;&nbsp;<\/strong>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>Twelve<\/strong>&nbsp;<strong>m<\/strong><strong>on<\/strong><strong>t<\/strong><strong>h<\/strong><strong>s ended<\/strong><br><strong>December 31,<\/strong>&nbsp;<\/td><\/tr><tr><td>&nbsp;<\/td><td><strong>2017<\/strong><\/td><td>&nbsp;<\/td><td><strong>2016<\/strong><\/td><td>&nbsp;<\/td><td><strong>2017<\/strong><\/td><td>&nbsp;<\/td><td><strong>2016<\/strong><\/td><\/tr><tr><td>GAAP gross profit<\/td><td>$7,971<\/td><td>&nbsp;<\/td><td>$5,241<\/td><td>&nbsp;<\/td><td>$26,745<\/td><td>&nbsp;<\/td><td>$20,528<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>55<\/td><td>&nbsp;<\/td><td>37<\/td><td>&nbsp;<\/td><td>189<\/td><td>&nbsp;<\/td><td>118<\/td><\/tr><tr><td>Importation tax write-off<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><td>&nbsp;<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><\/tr><tr><td>Non-GAAP gross profit<\/td><td>$8,026<\/td><td>&nbsp;<\/td><td>$5,666<\/td><td>&nbsp;<\/td><td>$26,934<\/td><td>&nbsp;<\/td><td>$21,034<\/td><\/tr><tr><td>GAAP research and development, net<\/td><td>$1,923<\/td><td>&nbsp;<\/td><td>$2,042<\/td><td>&nbsp;<\/td><td>$8,963<\/td><td>&nbsp;<\/td><td>$6,354<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>134<\/td><td>&nbsp;<\/td><td>231<\/td><td>&nbsp;<\/td><td>473<\/td><td>&nbsp;<\/td><td>625<\/td><\/tr><tr><td>Non-GAAP research and development, net<\/td><td>$1,789<\/td><td>&nbsp;<\/td><td>$1,811<\/td><td>&nbsp;<\/td><td>$8,490<\/td><td>&nbsp;<\/td><td>$5,729<\/td><\/tr><tr><td>GAAP sales and marketing, net<\/td><td>$2,777<\/td><td>&nbsp;<\/td><td>$2,917<\/td><td>&nbsp;<\/td><td>$10,996<\/td><td>&nbsp;<\/td><td>$8,528<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>105<\/td><td>&nbsp;<\/td><td>75<\/td><td>&nbsp;<\/td><td>499<\/td><td>&nbsp;<\/td><td>199<\/td><\/tr><tr><td>Non-GAAP sales and marketing, net<\/td><td>$2,672<\/td><td>&nbsp;<\/td><td>$2,842<\/td><td>&nbsp;<\/td><td>$10,497<\/td><td>&nbsp;<\/td><td>$8,329<\/td><\/tr><tr><td>GAAP general and administrative<\/td><td>$1,042<\/td><td>&nbsp;<\/td><td>$1,060<\/td><td>&nbsp;<\/td><td>$4,191<\/td><td>&nbsp;<\/td><td>$4,523<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>196<\/td><td>&nbsp;<\/td><td>428<\/td><td>&nbsp;<\/td><td>1,055<\/td><td>&nbsp;<\/td><td>1,529<\/td><\/tr><tr><td>Non-GAAP general and administrative<\/td><td>$846<\/td><td>&nbsp;<\/td><td>$632<\/td><td>&nbsp;<\/td><td>$3,136<\/td><td>&nbsp;<\/td><td>$2,994<\/td><\/tr><tr><td>GAAP total operating expenses<\/td><td>$5,742<\/td><td>&nbsp;<\/td><td>$6,019<\/td><td>&nbsp;<\/td><td>$24,150<\/td><td>&nbsp;<\/td><td>$19,405<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>435<\/td><td>&nbsp;<\/td><td>734<\/td><td>&nbsp;<\/td><td>2,027<\/td><td>&nbsp;<\/td><td>2,353<\/td><\/tr><tr><td>Non-GAAP total operating expenses<\/td><td>$5,307<\/td><td>&nbsp;<\/td><td>$5,285<\/td><td>&nbsp;<\/td><td>$22,123<\/td><td>&nbsp;<\/td><td>$17,052<\/td><\/tr><tr><td>GAAP operating income (loss)<\/td><td>$2,229<\/td><td>&nbsp;<\/td><td>$(778)<\/td><td>&nbsp;<\/td><td>$2,595<\/td><td>&nbsp;<\/td><td>$1,123<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>490<\/td><td>&nbsp;<\/td><td>771<\/td><td>&nbsp;<\/td><td>2,216<\/td><td>&nbsp;<\/td><td>2,471<\/td><\/tr><tr><td>Importation tax write-off<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><td>&nbsp;<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><\/tr><tr><td>Non-GAAP operating income &nbsp;<\/td><td>$2,719<\/td><td>&nbsp;<\/td><td>$381<\/td><td>&nbsp;<\/td><td>$4,811<\/td><td>&nbsp;<\/td><td>$3,982<\/td><\/tr><tr><td>GAAP income (loss) before taxes on income<\/td><td>$2,293<\/td><td>&nbsp;<\/td><td>$(737)<\/td><td>&nbsp;<\/td><td>$2,984<\/td><td>&nbsp;<\/td><td>$1,939<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>490<\/td><td>&nbsp;<\/td><td>771<\/td><td>&nbsp;<\/td><td>2,216<\/td><td>&nbsp;<\/td><td>2,471<\/td><\/tr><tr><td>Importation tax write-off<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><td>&nbsp;<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><\/tr><tr><td>Non-GAAP income before taxes on income<\/td><td>$2,783<\/td><td>&nbsp;<\/td><td>$422<\/td><td>&nbsp;<\/td><td>$5,200<\/td><td>&nbsp;<\/td><td>$4,798<\/td><\/tr><tr><td>GAAP net income (loss)<\/td><td>$2,258<\/td><td>&nbsp;<\/td><td>$(737)<\/td><td>&nbsp;<\/td><td>$2,901<\/td><td>&nbsp;<\/td><td>$1,915<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>490<\/td><td>&nbsp;<\/td><td>771<\/td><td>&nbsp;<\/td><td>2,216<\/td><td>&nbsp;<\/td><td>2,471<\/td><\/tr><tr><td>Importation tax write-off<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><td>&nbsp;<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>388<\/td><\/tr><tr><td>Non-GAAP net income<\/td><td>$2,748<\/td><td>&nbsp;<\/td><td>$422<\/td><td>&nbsp;<\/td><td>$5,117<\/td><td>&nbsp;<\/td><td>$4,774<\/td><\/tr><tr><td>GAAP net income (loss) per diluted share<\/td><td>$0.17<\/td><td>&nbsp;<\/td><td>$(0.06)<\/td><td>&nbsp;<\/td><td>$0.23<\/td><td>&nbsp;<\/td><td>$0.18<\/td><\/tr><tr><td>Stock-based compensation<\/td><td>0.04<\/td><td>&nbsp;<\/td><td>0.07<\/td><td>&nbsp;<\/td><td>0.18<\/td><td>&nbsp;<\/td><td>0.22<\/td><\/tr><tr><td>Importation tax write-off<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>0.03<\/td><td>&nbsp;<\/td><td>&#8211;<\/td><td>&nbsp;<\/td><td>0.04<\/td><\/tr><tr><td>Non-GAAP net income per diluted share<\/td><td>$0.21<\/td><td>&nbsp;<\/td><td>$0.04<\/td><td>&nbsp;<\/td><td>$0.41<\/td><td>&nbsp;<\/td><td>$0.44<\/td><\/tr><tr><td>Weighted average number of shares used to compute diluted net income per share<\/td><td>13,339,174<\/td><td>&nbsp;<\/td><td>11,920,521<\/td><td>&nbsp;<\/td><td>12,351,566<\/td><td>&nbsp;<\/td><td>10,779,547<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>RADCOM Ltd.<\/strong><strong>Consolidated Balance Sheets<\/strong>(thousands of U.S. dollars)<\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td>&nbsp;<\/td><td><strong>As of<\/strong><\/td><td>&nbsp;<\/td><td><strong>As of<\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td><strong>December 31,<\/strong><strong>2017<\/strong><\/td><td>&nbsp;<\/td><td><strong>December 31,<\/strong><strong>2016<\/strong><\/td><\/tr><tr><td><strong>Current Assets<\/strong><\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Cash and cash equivalents<\/td><td>$22,575<\/td><td>&nbsp;<\/td><td>$42,886<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Restricted bank deposits<\/td><td>36<\/td><td>&nbsp;<\/td><td>32<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-term bank deposits<\/td><td>40,000<\/td><td>&nbsp;<\/td><td>&#8211;<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Trade receivables, net<\/td><td>20,266<\/td><td>&nbsp;<\/td><td>4,388<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Inventories<\/td><td>1,199<\/td><td>&nbsp;<\/td><td>623<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Other receivables<\/td><td>2,685<\/td><td>&nbsp;<\/td><td>1,960<\/td><\/tr><tr><td>Total Current Assets<\/td><td>86,761<\/td><td>&nbsp;<\/td><td>49,889<\/td><\/tr><tr><td><strong>Severance pay fund<\/strong><\/td><td>3,052<\/td><td>&nbsp;<\/td><td>2,788<\/td><\/tr><tr><td><strong>Other long-term receivables<\/strong><\/td><td>172<\/td><td>&nbsp;<\/td><td>375<\/td><\/tr><tr><td><strong>Property and equipment, net<\/strong><\/td><td>1,924<\/td><td>&nbsp;<\/td><td>1,516<\/td><\/tr><tr><td><strong>Total Assets<\/strong><\/td><td>$91,909<\/td><td>&nbsp;<\/td><td>$54,568<\/td><\/tr><tr><td><strong>Liabilities and Shareholders&#8217; Equity<\/strong><\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td><strong>Current Liabilities<\/strong><\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Trade payables<\/td><td>$1,828<\/td><td>&nbsp;<\/td><td>$2,820<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp; Deferred revenue<\/td><td>2,601<\/td><td>&nbsp;<\/td><td>2,593<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employee and payroll accruals<\/td><td>4,062<\/td><td>&nbsp;<\/td><td>3,541<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp; Other payables and accrued expenses<\/td><td>3,428<\/td><td>&nbsp;<\/td><td>2,081<\/td><\/tr><tr><td>Total Current Liabilities<\/td><td>11,919<\/td><td>&nbsp;<\/td><td>11,035<\/td><\/tr><tr><td><strong>Long-Term Liabilities<\/strong><\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp; Deferred revenue<\/td><td>21<\/td><td>&nbsp;<\/td><td>123<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp; Accrued severance pay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/td><td>3,573<\/td><td>&nbsp;<\/td><td>3,267<\/td><\/tr><tr><td>Total Long-Term Liabilities<\/td><td>3,594<\/td><td>&nbsp;<\/td><td>3,390<\/td><\/tr><tr><td><strong>Total Liabilities<\/strong><\/td><td>$15,513<\/td><td>&nbsp;<\/td><td>$14,425<\/td><\/tr><tr><td><strong>Shareholders&#8217; Equity<\/strong><\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Share capital<\/td><td>$628<\/td><td>&nbsp;<\/td><td>$523<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Additional paid-in capital<\/td><td>131,491<\/td><td>&nbsp;<\/td><td>98,283<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Accumulated other comprehensive loss<\/td><td>(2,520)<\/td><td>&nbsp;<\/td><td>(2,559)<\/td><\/tr><tr><td>&nbsp;&nbsp;&nbsp;&nbsp; Accumulated deficit<\/td><td>(53,203)<\/td><td>&nbsp;<\/td><td>(56,104)<\/td><\/tr><tr><td><strong>Total Shareholders&#8217; Equity<\/strong><\/td><td>76,396<\/td><td>&nbsp;<\/td><td>40,143<\/td><\/tr><tr><td><strong>Total Liabilities and Shareholders&#8217; Equity<\/strong><\/td><td>$91,909<\/td><td>&nbsp;<\/td><td>$54,568<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"featured_media":0,"template":"","go-to-home-category":[],"latest-news-categories":[34],"class_list":["post-1661","latest-news","type-latest-news","status-publish","hentry","latest-news-categories-financial"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RADCOM Reports Fourth Quarter and Full Year 2017 Financial Results | RADCOM<\/title>\n<meta name=\"description\" content=\"Latest News from RADCOM : RADCOM Reports Fourth Quarter and Full Year 2017 Financial Results\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/radcom.com\/latest-news\/radcom-reports-fourth-quarter-and-full-year-2017-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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