Radcom Q2 2026 Earnings Call Transcript

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Provided by Quartr
August 12, 2026

Key Takeaways

  • Negative Sentiment: Second-quarter revenue fell sharply to $11.8 million, down 33.4% year over year, resulting in a non-GAAP operating loss of $2.2 million and a $1.5 million net loss. Management attributed the decline primarily to delayed customer expansion deployments.
  • Negative Sentiment: Several Tier 1 customers postponed private-cloud and on-premise expansion projects because server infrastructure costs increased substantially. RADCOM said the projects have been delayed rather than canceled, but expects deployment activity to normalize no earlier than the first quarter of 2027, with some activity potentially resuming in the fourth quarter of 2026.
  • Positive Sentiment: Management reaffirmed its revised 2026 revenue outlook of $57 million-$63 million, expects to remain non-GAAP profitable for the year, and is targeting positive free cash flow in the second half. It also expects double-digit revenue growth in 2027 as deferred deployments return.
  • Positive Sentiment: RADCOM reported three post-quarter wins, including a multi-year European contract with CETIN Networks, a competitive Asia-Pacific Tier 1 win, and an existing-customer renewal. The company said its pipeline remains healthy, with multiple opportunities advancing from evaluations to commercial discussions.
  • Positive Sentiment: With $109.7 million in cash and no debt, RADCOM plans to establish a $20 million-$25 million share repurchase program. The company also launched its Analytics Designer Module and continues investing in AI products, including RADCOM Neura, to expand its installed base and strategic partnerships.
AI Generated. May Contain Errors.
Earnings Conference Call
Radcom Q2 2026
00:00 / 00:00

Transcript Sections

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the RADCOM Limited Results Conference Call for the second quarter of 2026. All participants are present in a listen-only mode. Following management's formal presentation, instruction will be given for the question and answer session. For operator assistance during the conference, please press star zero. As a reminder, this conference is being recorded and will be available for replay on the company's website at www.radcom.com later today. On the call are Benny Eppstein, RADCOM's CEO, and Hod Cohen, RADCOM's CFO. Please note that management has prepared a presentation for your reference that will be used during the call. If you have not downloaded it yet, you may do so through the link in the investors section of RADCOM's website at www.radcom.com/investor-relations. Before we begin, I would like to review the safe harbor provision. This conference call will contain forward-looking statements.

Operator

Forward-looking statements in the conference call involve known and unknown risks and uncertainties, including, but not limited to, the company's statements about its momentum, strategic direction and goals, market position and trajectory, future execution and delivery of value to customers and stakeholders, expansion within its existing customer base and broader footprint, development and enhancement of strategic partnerships and the expected benefits and revenues from collaborations. The success and expected benefits of new technologies, including AI, RADCOM ACE, RADCOM Neura, RADCOM ADM, and RADCOM RACE, including to enhance automation opportunities and customer engagements and the timing thereof, demand for its products and solutions, and the ability to address new customer segments and extend its market reach. Trends in the telecom market, including the expected growth of 5G, AI, cloud-native deployments, network automation, and autonomous networks.

Operator

The timing, scope, and sequencing of customer deployment programs, the effect of server infrastructure costs and supply constraints, and the timing and extent to which deferred deployments may move forward or return to a normalized cadence. Customer relationships, competitive position, sales pipeline, commercial discussions, conversation of opportunities, and expansion within existing accounts. The anticipated scope, timing, implementation, benefits, customer transition, and expansion potential of the company's contract with the European operator. Expectations with respect to gross margins, research and development, sales and marketing expenses, cash flow, non-GAAP profitability, free cash flow positivity, full year 2026 revenue outlook, future growth, including double-digit percentage revenue growth in 2027.

Operator

The impact of foreign exchange rates and hedging resilience, long-term commitment, and continued investments, and the establishment, size, timing, initiation, and implementation of the intended share repurchase program and the company's ability to return capital to shareholders while continuing to invest in its platform and AI roadmap. The company does not undertake to update forward-looking statements. The full safe harbor provisions, including risks that could cause actual results to differ from these forward-looking statements, are outlined in today's press release and the company's SEC filings. In this conference call, management will refer to certain non-GAAP financial measures, which are provided to enhance the user's overall understanding of the company's financial performance.

Operator

By excluding non-cash stock-based compensation that has been expensed in accordance with ASC Topic 718, financial income, expenses, and amortization of intangible assets related to acquisitions, non-GAAP results provide information helpful in assessing RADCOM's core operating performance and evaluating and comparing the result of operations consistently from period to period. The presentation of this additional information is not meant to be considered a substitute for the corresponding financial measures prepared in accordance with generally accepted accounting principles. Investors are encouraged to review the reconciliation of GAAP to non-GAAP financial measures included in the quarter's earnings release, available on our website, www.radcom.com. I would like to turn over the call to Benny. Please go ahead.

Benny Eppstein
CEO at RADCOM Limited

Thank you, operator, and thank you all for joining us today to review RADCOM's results for the second quarter of 2026. Please turn to Slide seven. On July 13, we announced our preliminary second quarter revenue expectations and revised our full year 2026 outlook. I would like to provide more specific context on what has changed within several customer deployment programs and why we remain confident in the underlying opportunities. The affected projects are primarily planned expansion phases with a limited number of existing Tier 1 customers. These customers continue to use RADCOM solutions in their production networks, and the projects remain part of the longer-term deployment roadmap we have developed with them. The delays do not reflect any weakening of our customer relationship, unhappiness with RADCOM solutions or pricing, project cancellation, or business loss to competitors. The main issue is cost.

Benny Eppstein
CEO at RADCOM Limited

Across the industry, the price of server infrastructure needed for private cloud and on-premise deployment has risen sharply. In some cases, comparable server configurations now cost multiple of their previous levels, and this increase has occurred over several months, not several years. A large deployment may require dozens of servers across multiple sites, so this increase can add up to substantial infrastructure commitment for the customer. As a result, some customers are rethinking the timing, scope, and order of their infrastructure investments. They may need to rebalance budget, prepare additional sites, or move a portion of the expansion into later budget periods before approving the next deployment phase. RADCOM does not manufacture these servers. Our strategic value and profitability are derived from our software analytics and automated assurance capabilities. Still, our software must be deployed within an operating environment that is ready to support it.

Benny Eppstein
CEO at RADCOM Limited

A project cannot move forward until the customer's infrastructure is prepared for installation. We've taken steps to reduce the risks within our control. For certain anticipated deployments, we have already secured hardware so that RADCOM can begin execution once the customer gives us the green light and site is ready. Any further delay simply reflects the time customers need to prepare their infrastructure before they can install our product. This affects primarily concentrated in private cloud and on-premises deployment. Public cloud projects are less dependent on purchase, shipment, and installation of physical infrastructure, and therefore have been less affected. Based on our current customer discussions and project roadmaps, we believe that the first quarter of 2027 is the first period in which deployment activity could begin returning to a more normal pace. One or more projects could potentially begin moving forward sooner, including during the fourth quarter of 2026.

Benny Eppstein
CEO at RADCOM Limited

Some customers are also working through their 2027 budgeting processes, which should provide greater clarity on the timing and order of these projects. We have already secured hardware to support part of this activity, so RADCOM will be ready to execute as soon as customers finish their infrastructure planning and give us the go-ahead. The key point is that so far, these projects have been delayed, not displaced. They remain associated with active customer relationships and established expansion roadmaps. However, customer must first fund and establish the underlying network and computing infrastructure on which our software will operate. Our customer relationships remain strong. Our competitive position remain intact, and we are not seeing customer move away from our solutions. As customer finish their infrastructure preparation and authorize these expansion phases, we believe deferred deployment activity should return.

Benny Eppstein
CEO at RADCOM Limited

Together with long-term demand for AI-driven assurance, 5G visibility, and network automation, we believe we will return to a stronger growth in 2027. Furthermore, our sales pipeline and our medium to long-term customer deployment plans remain unchanged. In fact, the pipeline continues to improve in quality and a number of opportunities are now advancing to commercial discussions. We believe RADCOM will remain profitable on a non-GAAP basis in 2026. We also expect to return to double-digit growth in 2027. Please turn to Slide eight, our financial highlights. Total revenue of the second quarter of 2026 were $11.8 million. That is down 33.4% year-over-year from $17.7 million a year ago. Please turn to Slide nine, our recent wins. A few weeks after the quarter ended, we secured three new contracts. Two were new customers and the third was a renewal at an existing customer.

Benny Eppstein
CEO at RADCOM Limited

First, as announced yesterday, we expanded our European presence by winning multi-year contract with new customer, CETIN Networks in Slovakia. CETIN Networks selected RADCOM to deploy end-to-end AI-driven assurance across its mobile network. From the radio access network to the core, CETIN is replacing its incumbent assurance provider with a single subscriber-aware platform built on RADCOM ACE. We were selected following a competitive multi-vendor RFP. We believe that this selection is evidence of our technology's strengths and the growing preference for our platform among European operators. CETIN is part of CETIN International and a wider e& PPF Telecom Group. Together, they serve more than 12 million customers across four countries, which gives us a foundation to potentially expand across the broader group over time. Second, in Asia Pacific, we won a new customer through a competitive tender with a Tier 1 operator and replaced the long-term incumbent.

Benny Eppstein
CEO at RADCOM Limited

The deal is small, but it is an important reference win. It puts us in a strong position to compete for a much larger network-wide project with this operator. Third, we renew the contract with an existing European customer for RADCOM network visibility. All these deals closed only a few weeks after the quarter ended. This shows the pattern behind the second quarter results. With operators, deal timing can shift. Demand for our solution and our competitive position do not. Please turn to Slide 10, Our Strategy. Our priorities remain unchanged, expanding our Tier 1 footprint, deepening our installed base, and advancing AI-native assurance for autonomous network. We will do all of this while keeping the operating discipline to support our profitability. Our partner-led model works alongside NVIDIA, ServiceNow, AWS, and leading system integrators.

Benny Eppstein
CEO at RADCOM Limited

It efficiently extends our reach and meets operators wherever they are in their AI and cloud journey. A key advantage for us is the significant reduction in total cost of ownership, or TCO, that we offer. Our platform is fully cloud-native and highly efficient, so it delivers far lower TCO than legacy solutions. That means lower CapEx and OpEx than our competitors. Also, our software can run on incumbent hardware and deliver much more efficient performance per watt. This means it can be deployed on the very same hardware an operator already uses with the incumbent assurance vendor. Reusing the same infrastructure means an easier migration with no costly rip and replace. It delivers real savings and better performance. Combine this with our TCO advantage and data that telco AI depends on, and we believe we are well-positioned for long-term profitable growth.

Benny Eppstein
CEO at RADCOM Limited

We also remain financially strong with solid cash position and no debt, enabling continued investment in our differentiated agentic AI capabilities and in expansion of our strategic partnership throughout this period. Please turn to slide 11, The Telecom Market. Operators continue to transition to 5G standalone and cloud-native deployments. At the same time, they are embedding AI deeper into their networks to automate operation, enhance the subscriber experience, and reduce operating costs. All of this is happening while data volume and network complexity keep growing. Yet a gap remains between AI ambition and AI readiness. Most operators still lack the reliable subscriber-level data that these AI use cases depend on. We saw a shift in operator spending this quarter as some adjusted the timing and mix of their investment, which impacted our results, but near-term spending patterns can fluctuate without changing the market's underlying direction.

Benny Eppstein
CEO at RADCOM Limited

The direction still points to what we provide, the data operators need to automate their network and run their more efficiently. The gap is exactly where RADCOM adds value. As operator shifts from proof of concept commercial AI deployments, they demand unified end-to-end intelligence. This trend only increase the need for cloud-native AI-enabled service assurance solutions such as RADCOM ACE and RADCOM Neura. We believe our position as leading assurance provider for 5G will continue to drive positive returns. Please turn to slide 12, Our Installed Base. Alongside new opportunities, our installed base remain an important validation of our strategy and the durability of our technology in live large-scale networks. Work with 1GLOBAL continue to progress as RADCOM ACE is deployed to monitor its 4G and 5G services.

Benny Eppstein
CEO at RADCOM Limited

We continue to support key accounts, including AT&T and Rakuten Mobile, where our assurance solutions remain embedded in production networks serving millions of subscribers. Taken together, these deployments indicate that demand among our existing customers remains strong and that expansion opportunities are progressing. That is true even as operators work through longer infrastructure lead times across the market. Please turn to slide 13, The Launch of RADCOM ADM. During the quarter, we also launched RADCOM ADM, the analytics designer module, a new addition to the RADCOM ACE platform. It puts operators in control of their own analytics. What was once a month-long request to a vendor is now something their teams can do themselves in real time. As network become more automated, that feed become essential, and delivering it at scale requires engineering expertise that is hard to copy. ADM also strengthen our AI strategy.

Benny Eppstein
CEO at RADCOM Limited

It feeds real-time data directly into RADCOM Neura, our agentic AI layer, making those agents more accurate and reliable. ADM will be generally available to existing and new customers later this quarter, and we see it as a clear path to expand within existing accounts through new use cases and higher value tiers. Please turn to slide 14, some more recent industry recognition. In February, we released RADCOM Neura, our suite of AI agents designed to work within the AI agent ecosystem. I am pleased to share that RADCOM Neura has since earned industry recognition. RADCOM is a finalist in the 2026 Light Reading Leading Lights award for most innovative telco AI/ML product. As operators embrace AI to manage increasingly complex networks, we are proud that RADCOM Neura has been recognized for helping transform real-time network intelligence into smarter, more proactive operations.

Benny Eppstein
CEO at RADCOM Limited

That recognition extended to our collaborative work across the ecosystem. At Digital Transformation World, or DTW Ignite, in Copenhagen, we were proud to be part of the winning team at the Catalyst Award. Our catalyst was named outstanding catalyst in the AI and automation category. It showed that multi-vendor AI agents can collaborate to accelerate fault resolution, improve the customer experience, and advance Level 4 autonomous networks. RADCOM contributed AI-driven assurance agents that rank issue by real customer impact. We also contributed RADCOM governance, our framework for managing how agents interact and for building trust through policy-based oversight. Please turn to slide 15, our go-to-market activity. From a go-to-market perspective, we also remain highly active throughout the quarter. We participated in DTW Ignite in Copenhagen, FutureNet World in London, and Network X Americas in Dallas, where we showcased our AI-native assurance solutions and AI agent capabilities.

Benny Eppstein
CEO at RADCOM Limited

Our executives also took the stage at these events, sharing our perspective on how operators can use AI, automation, and network data to build demand-driven networks. They also spoke to the opportunity that agentic AI now presents. Customer and partner responses to our AI agent capabilities and AI-native assurance solutions were very encouraging. We also held productive meetings with operators and ecosystem partners that we believe could translate into additional sales opportunities over time. Please turn to slide 16, our pipeline. As I mentioned, we are actively engaged across a healthy set of opportunities, several of which advanced during the quarter from technical evaluation and proof of concept to commercial discussions. The pipeline is steady, healthy, and progressing. We remain confident in our ability to convert this pipeline into both new business and continued expansion within our existing customer base. Please turn to slide 17, my closing summary.

Benny Eppstein
CEO at RADCOM Limited

To summarize, while our second quarter results and our revised full-year guidance were disappointing, our long-term fundamentals remain solid and our strategy is unchanged. We offer a lower cost of ownership and operators can run our software and hardware they already own in a tighter spending environment that makes us an easier decision. Our customer relationships are strong and our pipeline is broad and progressing. Several opportunities advanced to commercial discussions during the quarter. A few weeks after the quarter ended, we won three new deals. We also launched RADCOM ADM and earned industry recognition for RADCOM Neura. Financially, we remain debt-free, and we expect to remain profitable on a non-GAAP basis in 2026. We also continue to invest in the AI capabilities operators need to run their network efficiently. Please turn to slide 18 before I hand over to Hod, a word on capital allocation.

Benny Eppstein
CEO at RADCOM Limited

We remain confident in the company's long-term prospects and believe that repurchasing our shares represents a compelling use of capital at the current valuation levels. The board and management have decided to move forward. We will take required steps to establish a share repurchase program of $20 million-$25 million. We have already started this process and plan to finish it as fast as applicable rules allow. Once the required steps are done, we will start the buyback. With that, I'll now turn the call over to our CFO, Hod Cohen, to review the financial results in detail.

Hod Cohen
CFO at RADCOM Limited

Thank you, Benny, and good morning, everyone. As a reminder, unless otherwise noted, I will refer to non-GAAP results. Reconciliations between GAAP and non-GAAP measures are provided in our press release and presentation. All comparisons are year-over-year. Please turn to slide 20, our quarterly financial highlights. Revenue for the second quarter was $11.8 million, down 33.4% year-over-year from $17.7 million. Gross margin in the second quarter was 76.3%. We recorded an operating loss of $2.2 million, or negative 18.5% of revenue. Net loss was $1.5 million or $0.09 per diluted share. That compares with net income of $4.2 million or $0.25 per diluted share in the same quarter last year. The decline was driven primarily by lower revenue in the second quarter of 2026.

Hod Cohen
CFO at RADCOM Limited

In the first half of 2026, operating income was $1.6 million or 5.1% of revenue, and we expect to remain profitable on a non-GAAP basis for the full year. Please turn to slide 21. Our net R&D expenses for the second quarter totaled $5.3 million, up 15.9% year-over-year. This growth reflects two things. First, our continued investment in R&D to drive innovation and expand our product portfolio. Second, currency headwinds from the shekel-dollar exchange rate. To reduce currency exposure, RADCOM initiated short-term hedging program of ILS expenses through the end of 2026. We plan to continue our strategic R&D investments to deliver advanced intelligent solutions. The focus is on agentic AI and multi-modal workflows while supporting our strategic partnership and bringing new features to market. Sales and marketing expenses for the second quarter totaled $4.7 million, an 8.8% year-over-year increase, mainly due to FX headwinds.

Hod Cohen
CFO at RADCOM Limited

We continue to invest in our sales capability to support pipeline growth and expansion in high-value regions. On a GAAP basis, as shown on slide 22, our net loss for the second quarter of 2026 was $3.1 million, compared with net income of $2.4 million in the same quarter last year. GAAP loss per diluted share was $0.18, compared with earnings of $0.15 per diluted share a year ago. The year-over-year move from GAAP net income to a GAAP net loss is driven by the lower revenue in the quarter. It also reflects our continued investment in R&D and in sales and marketing. We ended the second quarter of 2026 with 331 employees. Please turn to slide 25, our balance sheet. We closed the quarter with $109.7 million in cash equivalents, and short-term bank deposits, reflecting positive cash flow of $1.3 million for the quarter.

Hod Cohen
CFO at RADCOM Limited

For the second half of 2026 as a whole, we aim to remain free cash flow positive. As Benny mentioned, we are confident in RADCOM's long-term outlook. We view a buyback at current level as an attractive use of capital through a share repurchase program of $20 million-$25 million. That process is already underway, and we expect to complete it as quickly as the applicable rules permit. Once the required steps are done, we will start the buyback. We are reaffirming our revised full year 2026 revenue outlook of $57 million-$63 million, with a midpoint of $60 million, as announced on July 30, 2026. That concludes our prepared remarks. Thank you. We will now end the call back to the operator for your questions.

Operator

Thank you. Ladies and gentlemen, at this time, we will begin the question and answer session. If you have a question, please press star one. If you wish to cancel your request, please press star two. If you are connected by Zoom, please use the raise hand button located at the bottom of your screen. Please state your name and company name before the question. The first question is from Alinda Li from William Blair.

Alinda Li
Alinda Li
Analyst at William Blair

Perfect. Thank you. Yes, this is Alinda Li from William Blair. Of the three contract wins shortly after the quarter end, it seems like these opportunities were included in the second quarter pipeline. Can you give us more color on what ultimately caused them to close in early Q3 rather than late Q2?

Hod Cohen
CFO at RADCOM Limited

Hi, Alinda. Just the course of the negotiation, legal work, compliance and so on. That's the reason they didn't make it to the quarter and ended up at the beginning of Q3. It was more of a technical-

Alinda Li
Alinda Li
Analyst at William Blair

Got it.

Hod Cohen
CFO at RADCOM Limited

Sorry.

Alinda Li
Alinda Li
Analyst at William Blair

No, go ahead.

Hod Cohen
CFO at RADCOM Limited

It is more of a technical process rather than the negotiation was completed mid Q2.

Alinda Li
Alinda Li
Analyst at William Blair

Got it. That is helpful. How should investors think about the relationship between bookings activity and revenue recognition over the next several quarters, given the deployment-related delays from this past quarter?

Hod Cohen
CFO at RADCOM Limited

For those specific wins, I believe the customer readiness is more mature than the traditional customer readiness. I believe for some, they could be recognized through 2026.

Alinda Li
Alinda Li
Analyst at William Blair

Got it. Awesome. Thank you.

Hod Cohen
CFO at RADCOM Limited

Thank you.

Operator

The next question is from Ryan Koontz from Needham & Co. Please go ahead.

Ryan Koontz
Ryan Koontz
Analyst at Needham & Co

Good morning. I wanted to ask about these pushouts. Are these situations where a customer has a limited budget and they're spending their budget on more expensive hardware and thus less of your software, or these complete pushouts of your software along with the hardware due to their hardware costs?

Benny Eppstein
CEO at RADCOM Limited

Okay, Ryan. It's a combination. Some of it is due to site readiness through the hardware purchases and pricing. Some of it is due to budget. So what was allocated initially was not sufficient for this year, and it's been

Benny Eppstein
CEO at RADCOM Limited

Pushed to next year. It's simply because of the group that we're working with and the budget that originally was allocated to them.

Ryan Koontz
Ryan Koontz
Analyst at Needham & Co

Got it. These pushouts are all related to 5G standalone?

Benny Eppstein
CEO at RADCOM Limited

5G. Yeah, some of it's standalone, some of it's 5G related, yes. We call it 5G, though.

Ryan Koontz
Ryan Koontz
Analyst at Needham & Co

Great. Maybe you mentioned some procurement of hardware. I know you guys do bundle some hardware with some of your products. What's that been like, have you considered maybe some software redesign to require lower cost hardware, lower memory?

Benny Eppstein
CEO at RADCOM Limited

We actually redesigned the software, it's pretty efficient comparing to our competitors. We can also reuse some of the competitor hardware in order to promote our solution. So the design is pretty much, I think, ready. Having said that, this delays the deployment. We will actually acquire some of the hardware to mitigate the risk and then manage to secure some of the old pricing for our customers. Although we secure the hardware, the price was not ready in some cases, so it will affect overall on our deployments.

Ryan Koontz
Ryan Koontz
Analyst at Needham & Co

Got it. All right, Benny. Thanks very much. That's all I've got.

Benny Eppstein
CEO at RADCOM Limited

Thank you, Ryan.

Operator

The next question will be from Tom Jacob. Please go ahead.

Analyst

Hello, can you hear me?

Operator

Yes.

Benny Eppstein
CEO at RADCOM Limited

Yes.

Analyst

I cannot hear anything, if you can hear me.

Analyst

I can hear something now.

Analyst

Okay. That is great. Well, thank you for the new style of call, being able to say something by Zoom. Thank you for taking my questions. I have two of them. First of all, the bad results of Q2, they came quite surprising, and we had no clue after the Q1 call, so probably it came quite surprising for you as well. I would just like to know, is there more visibility for Q3 and Q4, or might that happen again?

Benny Eppstein
CEO at RADCOM Limited

We do have a better visibility for Q3 and Q4, and I believe the risk is reflected in the revised guidance that we have provided.

Analyst

Oh, I cannot hear you again.

Benny Eppstein
CEO at RADCOM Limited

I'm saying that we have a pretty good visibility on the remaining of half 2, and the revised guidance is reflecting the risk that we already that is embedded in the numbers.

Analyst

Well, if you can hear me, I'll just try to tell my other question so you get them on record. I'd like to know more about the share buyback process. Will you buy them at a stock exchange? What stock exchange might that be? Or will you make a direct offer? Because it's going to be quite hard to buy that many shares, won't it be? So how do you think about that process? That would be my second question. Unfortunately, I still can't hear anything but me. I've been told that other people experience the same issue, so it would be great if you find a solution. Maybe people can hear us by phone, I don't know, but not via Zoom.

Hod Cohen
CFO at RADCOM Limited

Yeah. So hi, it's Hod Cohen, RADCOM CFO. Regarding the share buyback, so as we said, we are planning to establish a plan for share buyback of $20 million-$25 million. The duration of it is still not clear, but it will need to be spread, of course, on several months, and something like we are saying, it will be around, let's say, a year or two, because as you know, the trading volume in our stock is not so high, so it's going to be a little bit complex. But we are going to buy the stock in the market, and we are going to apply a 10b5-1 program, and this is how we are going to do that.

Operator

If you have a question, please press star one. If you wish to cancel your request, please press star two. If you are connected by Zoom, please use the Raise Hand button located at the bottom of your screen. Please state your name and company name before the question. This concludes the RADCOM Ltd. second quarter 2026 results conference call. Thank you for your participation. You may go ahead and disconnect.

Analysts
    • Benny Eppstein
      CEO at RADCOM Limited
    • Hod Cohen
      CFO at RADCOM Limited
    • Alinda Li
      Analyst at William Blair
    • Ryan Koontz
      Analyst at Needham & Co
    • Analyst
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