Radcom(US:RDCM)2024-05-15 11:05Financial Performance - Total revenues for Q1 2024 were $14.1 million, representing a 17.5% year-over-year growth from $12.0 million in Q1 2023[6] - GAAP net income for Q1 2024 was $0.8 million, or $0.05 per diluted share, compared to $0.6 million, or $0.04 per diluted share in Q1 2023[6] - Non-GAAP net income for Q1 2024 was $2.8 million, or $0.18 per diluted share, up from $1.8 million, or $0.12 per diluted share in Q1 2023[6] - Total operating expenses for Q1 2024 were $10.7 million, compared to $9.0 million in Q1 2023[14] Cash and Assets - The company achieved its highest-ever cash level of $85.3 million as of March 31, 2024, with no debt[6] - The total assets of the company as of March 31, 2024, were $111.9 million, an increase from $107.5 million as of December 31, 2023[18] Revenue Guidance and Growth - The lower end of the 2024 revenue guidance has been raised to $57 million from $56 million, with an upper range of $60 million[5] - The company is positioned to deliver a fifth consecutive year of revenue growth and increase profitability based on current visibility and market opportunities[4] Contracts and Partnerships - A multi-year contract was renewed with Rakuten Mobile, including advanced AI-powered analytics for network operations[4] - A U.S. telecom operator extended its contract to use RADCOM ACE, which will now be hosted on Amazon Web Services as Software-as-a-Service[4]