RADCOM Ltd. (RDCM) 10-Year Financial Performance & Capital Metrics

RDCM • • Utilities

Communication ServicesTelecom ServicesIoT & Machine-to-Machine CommunicationsIoT Connectivity Providers

AboutRADCOM Ltd. provides 5G ready cloud-native network intelligence and service assurance solutions for telecom operators or communication service providers (CSPs). It offers RADCOM ACE, including RADCOM Service Assurance, a cloud-native, 5G-ready, and virtualized service assurance solutions, which allows telecom operators to gain end-to-end network visibility and customer experience insights across all networks; RADCOM Network Visibility, a cloud-native network packet broker and filtering solution that allows CSPs to manage network traffic at scale across multiple cloud environments, and control the visibility layer to perform analysis of select datasets; and RADCOM Network Insights, a business intelligence solution that offers insights for multiple use cases enabled by data captured and correlated through RADCOM Network Visibility and RADCOM Service Assurance. The company also provides solutions for mobile and fixed networks, such as 5G, long term evolution, voice over LTE, voice over Wifi, IP multimedia subsystem, voice over IP, and universal mobile telecommunication service. It sells its products directly, as well as through a network of distributors and resellers in North America, Asia, Latin America, Europe, the Middle East, and Africa. The company was formerly known as Big Blue Catalogue Ltd. and changed its name to RADCOM Ltd. in 1989. RADCOM Ltd. was incorporated in 1985 and is headquartered in Tel Aviv, Israel.Show more

Revenue $61M +18.2%
EBITDA $4M +9285.4%
Net Income $7M +87.7%
Free Cash Flow $9M +677.9%
EBITDA Margin 6.17% +7868.8%
Net Margin 11.42% +58.7%
ROE 7.82% +63.6%
Interest Coverage 16.33 +433.1%
Debt/Equity 0.04 +80.8%
Net Debt/EBITDA -4.21
CapEx / Revenue 4.49% -35.6%
CapEx Coverage 4.16 +217.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong interest coverage of 16.3x

✗Weaknesses

✗Weak 3Y average ROE of 3.1%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.95%

5Y13.07%

3Y14.84%

TTM17.27%

Profit (Net Income) CAGR

10Y25.38%

5Y-

3Y-

TTM44.93%

EPS CAGR

10Y18.31%

5Y-

3Y-

TTM38.89%

ROCE

10Y Avg-2.4%

5Y Avg-3.14%

3Y Avg-0.97%

Latest3.25%

Peer Comparison

IoT Connectivity Providers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RDCMRADCOM Ltd.	211.63M	12.90	30	18.23%	15.38%	9.73%	4.09%	0.04
KOREKORE Group Holdings, Inc.	86.12M	4.91	-0.65	3.43%	-24.51%
FNGRFingerMotion, Inc.	74.76M	1.22	-12.72	-0.51%	-16.07%	-32.6%		0.09

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	18.67M	29.51M	37.23M	34.05M	33.01M	37.56M	40.28M	46.05M	51.6M	61.01M
Revenue Growth %	-0.21%	0.58%	0.26%	-0.09%	-0.03%	0.14%	0.07%	0.14%	0.12%	0.18%
Cost of Revenue	4.33M	8.98M	10.49M	8.87M	9.92M	10.76M	11.42M	12.71M	13.77M	15.75M
Gross Profit+	14.35M	20.53M	26.75M	25.18M	23.09M	26.8M	28.86M	33.34M	37.83M	45.26M
Gross Margin %	-	-	-	-	-	-	-	-	-	-
Gross Profit Growth %	-0.04%	0.43%	0.3%	-0.06%	-0.08%	0.16%	0.08%	0.16%	0.13%	0.2%
Operating Expenses+	14.72M	19.41M	24.15M	28.67M	30.93M	31.39M	34.35M	37.45M	38.49M	42.18M
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-
EBITDA+	-246K	1.41M	3.13M	-2.83M	-7.08M	-3.88M	-4.95M	-3.64M	-41K	3.77M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
EBITDA Growth %	-1.19%	6.73%	1.22%	-1.9%	-1.5%	0.45%	-0.28%	0.27%	0.99%	92.85%
Depreciation & Amortization+	123K	286K	537K	657K	752K	699K	540K	477K	621K	679K
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income (EBIT)+	-369K	1.12M	2.6M	-3.49M	-7.83M	-4.58M	-5.49M	-4.11M	-662K	3.09M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-1.3%	4.04%	1.31%	-2.34%	-1.25%	0.42%	-0.2%	0.25%	0.84%	5.66%
Interest Expense+	23K	23K	58K	15K	16K	15K	15K	16K	135K	189K
Interest Coverage	-16.04x	48.83x	44.74x	-232.53x	-489.69x	-305.47x	-366.20x	-257.13x	-4.90x	16.33x
Interest / Revenue %	-	-	-	-	-	-	-	-	-	-
Non-Operating Income	-433K	816K	389K	1000K	1000K	810K	354K	1000K	1000K	1000K
Pretax Income+	-802K	1.94M	2.98M	-2.35M	-6.66M	-3.77M	-5.14M	-2.1M	3.9M	7.2M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	121K	24K	83K	63K	169K	220K	124K	159K	182K	234K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-923K	1.92M	2.9M	-2.42M	-6.83M	-3.99M	-5.26M	-2.26M	3.71M	6.97M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-2.27%	3.07%	0.51%	-1.83%	-1.83%	0.42%	-0.32%	0.57%	2.65%	0.88%
EPS (Diluted)+	-0.11	0.18	0.23	-0.18	-0.50	-0.29	-0.37	-0.16	0.24	0.43
EPS Growth %	-2.38%	2.64%	0.28%	-1.78%	-1.78%	0.42%	-0.28%	0.57%	2.5%	0.79%
EPS (Basic)	-0.11	0.18	0.24	-0.18	-0.50	-0.29	-0.37	-0.16	0.25	0.43
Diluted Shares Outstanding	8.57M	10.78M	12.35M	13.63M	13.78M	13.93M	14.12M	14.53M	15.3M	16.16M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	20.14M	54.57M	91.91M	89.53M	96.4M	93.64M	91.66M	101M	107.53M	130.57M
Asset Growth %	-0.01%	1.71%	0.68%	-0.03%	0.08%	-0.03%	-0.02%	0.1%	0.06%	0.21%
PP&E (Net)+	384K	1.52M	1.92M	1.83M	7.51M	4.26M	3.07M	3.47M	2.45M	4.3M
PP&E / Total Assets %	-	-	-	-	-	-	-	-	-	-
Total Current Assets+	16.06M	49.89M	86.76M	84.39M	83.21M	83.38M	83.5M	87.45M	97.42M	117.2M
Cash & Equivalents	8.73M	42.89M	22.57M	61.99M	6.2M	13.55M	11.95M	9.53M	10.89M	19.24M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Inventory	1.53M	623K	1.2M	251K	1.36M	540K	931K	795K	246K	1.67M
Other Current Assets	1.33M	1.18M	1.76M	1.01M	126K	0	0	0	0	158K
Long-Term Investments	508K	375K	172K	346K	2.31M	0	0	4M	0	0
Goodwill	0	0	0	0	0	0	0	0	1.24M	1.24M
Intangible Assets	0	0	0	0	0	0	0	0	1.71M	1.37M
Other Assets	3.18M	2.79M	3.05M	2.97M	3.36M	6M	5.1M	6.08M	4.71M	6.47M
Total Liabilities	10.27M	14.43M	15.51M	11.05M	22.53M	21.62M	21.51M	28.22M	25.04M	34.9M
Total Debt+	0	0	0	0	6.23M	3.04M	1.94M	2.48M	1.62M	3.4M
Net Debt	-8.73M	-42.89M	-22.57M	-61.99M	29K	-10.51M	-10.01M	-7.05M	-9.27M	-15.84M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Borrowings	0	0	0	0	1000K	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	4.97M	3.04M	1.94M	2.48M	1.62M	3.4M
Total Current Liabilities+	6.42M	11.04M	11.92M	7.53M	12.72M	14.9M	16.25M	22.8M	20.11M	27.91M
Accounts Payable	1.47M	2.82M	1.83M	1.56M	2.45M	1.59M	2.65M	2.71M	2.64M	2.46M
Accrued Expenses	2.53M	3.54M	4.06M	3.42M	4.13M	8.15M	8.82M	10.91M	13.76M	7.17M
Deferred Revenue	931K	2.59M	2.6M	266K	828K	3.15M	2.7M	7.04M	1.47M	0
Other Current Liabilities	835K	2.08M	3.43M	2.28M	4.05M	0	0	0	0	17.31M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Liabilities	3.66M	3.27M	3.57M	3.42M	4.74M	4.68M	4.37M	3.97M	4.37M	4.55M
Total Equity+	9.86M	40.14M	76.4M	78.48M	73.87M	72.02M	70.15M	72.78M	82.49M	95.68M
Equity Growth %	-0.04%	3.07%	0.9%	0.03%	-0.06%	-0.03%	-0.03%	0.04%	0.13%	0.16%
Shareholders Equity	9.86M	40.14M	76.4M	78.48M	73.87M	72.02M	70.15M	72.78M	82.49M	95.68M
Minority Interest	0	0	0	0	0	0	0	0	0	0
Common Stock	372K	523K	628K	643K	648K	657K	669K	706K	736K	769K
Additional Paid-in Capital	70.27M	98.28M	131.49M	135.73M	137.97M	140.13M	143.47M	148.61M	154.7M	160.76M
Retained Earnings	-58.02M	-56.1M	-53.2M	-55.28M	-62.11M	-66.11M	-71.37M	-73.63M	-69.91M	-62.94M
Accumulated OCI	-2.76M	-2.56M	-2.52M	-2.61M	-2.63M	-2.66M	-2.62M	-2.91M	-3.03M	-2.91M
Return on Assets (ROA)	-0.05%	0.05%	0.04%	-0.03%	-0.07%	-0.04%	-0.06%	-0.02%	0.04%	0.06%
Return on Equity (ROE)	-0.09%	0.08%	0.05%	-0.03%	-0.09%	-0.05%	-0.07%	-0.03%	0.05%	0.08%
Debt / Equity	-	-	-	-	0.08x	0.04x	0.03x	0.03x	0.02x	0.04x
Debt / Assets	-	-	-	-	0.06%	0.03%	0.02%	0.02%	0.02%	0.03%
Net Debt / EBITDA	-	-30.44x	-7.21x	-	-	-	-	-	-	-4.21x
Book Value per Share	1.15	3.72	6.19	5.76	5.36	5.17	4.97	5.01	5.39	5.92

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.88M	9.45M	-10.6M	-1.95M	6.84M	-50K	2M	6.02M	4.71M	11.39M
Operating CF Growth %	-0.44%	4.02%	-2.12%	0.82%	4.51%	-1.01%	41.04%	2.01%	-0.22%	1.42%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	-923K	1.92M	2.9M	-2.42M	-6.83M	-3.99M	-5.26M	-2.26M	3.71M	6.97M
Depreciation & Amortization	123K	286K	537K	657K	752K	699K	540K	477K	621K	679K
Deferred Taxes	0	0	0	0	3.68M	0	0	0	0	0
Other Non-Cash Items	1.83M	781K	21.39M	2.04M	-3.68M	0	0	0	0	0
Working Capital Changes	1.27M	4.78M	-16.26M	-2.31M	10.69M	1.07M	3.37M	2.63M	-5.75M	-2.36M
Capital Expenditures+	-97K	-1.33M	-40.79M	39.34M	-62.62M	7.6M	-3.5M	-8.43M	-3.59M	-2.74M
CapEx / Revenue %	-	-	-	-	-	-	-	-	-	-
CapEx / D&A	-	-	-	-	-	-	-	-	-	-
CapEx Coverage (OCF/CapEx)	-	-	-	-	-	-	-	-	-	-
Cash from Investing+	-97K	-1.33M	-40.79M	39.34M	-62.62M	7.6M	-3.5M	-8.43M	-3.59M	-2.74M
Acquisitions	0	0	0	0	0	0	0	0	-2.48M	0
Purchase of Investments	0	0	-40M	0	-61.92M	0	-3.06M	-8.28M	-885K	-2.31M
Sale of Investments	0	0	0	1000K	0	0	0	0	0	0
Other Investing	0	0	-40M	40M	0	8.03M	0	0	0	0
Cash from Financing+	813K	25.69M	31.1M	2.13M	16K	0	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Dividend Payout Ratio %	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0	0
Stock Issued	813K	21.28M	30.21M	2.13M	16K	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Other Financing	813K	4.41M	891K	2.13M	16K	0	0	0	0	0
Net Change in Cash+	1.88M	34.16M	-20.31M	39.38M	-55.79M	7.35M	-1.6M	-2.42M	1.36M	8.35M
Exchange Rate Effect	-721K	346K	-15K	-145K	-27K	-202K	-101K	-9K	253K	-299K
Cash at Beginning	6.85M	8.73M	42.89M	22.61M	61.99M	6.2M	13.55M	11.95M	9.53M	10.89M
Cash at End	8.73M	42.89M	22.57M	61.99M	6.2M	13.55M	11.95M	9.53M	10.89M	19.24M
Free Cash Flow+	1.79M	8.12M	-51.39M	37.39M	-55.78M	7.55M	-1.5M	-2.41M	1.11M	8.65M
FCF Growth %	-0.63%	3.54%	-7.33%	1.73%	-2.49%	1.14%	-1.2%	-0.61%	1.46%	6.78%
FCF Margin %	-	-	-	-	-	-	-	-	-	-
FCF / Net Income %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-9.17%	7.66%	4.98%	-3.12%	-8.97%	-5.47%	-7.4%	-3.16%	4.78%	7.82%
EBITDA Margin	-1.32%	4.77%	8.41%	-8.31%	-21.46%	-10.34%	-12.3%	-7.9%	-0.08%	6.17%
Net Debt / EBITDA	-	-30.44x	-7.21x	-	-	-	-	-	-	-4.21x
Interest Coverage	-16.04x	48.83x	44.74x	-232.53x	-489.69x	-305.47x	-366.20x	-257.13x	-4.90x	16.33x
CapEx / Revenue	0.52%	4.51%	109.55%	115.53%	189.69%	20.23%	8.69%	18.31%	6.97%	4.49%
Debt / Equity	-	-	-	-	0.08x	0.04x	0.03x	0.03x	0.02x	0.04x
EPS Growth	-237.5%	263.64%	27.78%	-178.26%	-177.78%	42%	-27.59%	56.76%	250%	79.17%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Service	-	-	-	-	-	-	-	-	28.76M	32.79M
Service Growth	-	-	-	-	-	-	-	-	-	14.02%
Product	-	-	-	-	-	-	-	-	22.84M	28.22M
Product Growth	-	-	-	-	-	-	-	-	-	23.54%
Other (Including Israel)	-	802K	-	-	-	-	-	-	-	-
Other (Including Israel) Growth	-	-	-	-	-	-	-	-	-	-
All Others	1.86M	-	-	-	-	-	-	-	-	-
All Others Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	-	19.17M	25.16M	22.16M	14.5M	20.32M	21.78M	22.94M	31.83M	36.09M
North America Growth	-	-	31.25%	-11.90%	-34.58%	40.16%	7.15%	5.35%	38.73%	13.38%
Asia	-	-	374K	923K	14.15M	15.19M	14.69M	12.51M	9.79M	12.72M
Asia Growth	-	-	-	146.79%	1432.61%	7.38%	-3.32%	-14.80%	-21.79%	30.03%
EMEA	-	-	-	-	-	1.83M	2.75M	7.64M	8.72M	11.87M
EMEA Growth	-	-	-	-	-	-	50.49%	177.87%	14.18%	36.14%
Latin America	-	-	-	-	2.65M	223K	1.07M	2.96M	1.27M	327K
Latin America Growth	-	-	-	-	-	-91.59%	380.27%	176.28%	-57.22%	-74.17%
OtherMember	-	-	-	-	1.71M	-	-	-	-	-
OtherMember Growth	-	-	-	-	-	-	-	-	-	-
PHILIPPINES	8.07M	-	4.5M	6.24M	-	-	-	-	-	-
PHILIPPINES Growth	-	-	-	38.52%	-	-	-	-	-	-
BRAZIL	-	-	1.78M	2.91M	-	-	-	-	-	-
BRAZIL Growth	-	-	-	63.10%	-	-	-	-	-	-
Non-US	-	-	3.76M	787K	-	-	-	-	-	-
Non-US Growth	-	-	-	-79.05%	-	-	-	-	-	-
Europe	-	946K	778K	362K	-	-	-	-	-	-
Europe Growth	-	-	-17.76%	-53.47%	-	-	-	-	-	-
South America	-	-	883K	-	-	-	-	-	-	-
South America Growth	-	-	-	-	-	-	-	-	-	-
Philippines	-	4.96M	-	-	-	-	-	-	-	-
Philippines Growth	-	-	-	-	-	-	-	-	-	-
Brazil	3.49M	2.5M	-	-	-	-	-	-	-	-
Brazil Growth	-	-28.42%	-	-	-	-	-	-	-	-
South America (Excluding Brazil)	-	785K	-	-	-	-	-	-	-	-
South America (Excluding Brazil) Growth	-	-	-	-	-	-	-	-	-	-
Asia (Excluding Philippines)	-	355K	-	-	-	-	-	-	-	-
Asia (Excluding Philippines) Growth	-	-	-	-	-	-	-	-	-	-
South America Excluding Brazil	2.46M	-	-	-	-	-	-	-	-	-
South America Excluding Brazil Growth	-	-	-	-	-	-	-	-	-	-
Europe Member Extended	1.2M	-	-	-	-	-	-	-	-	-
Europe Member Extended Growth	-	-	-	-	-	-	-	-	-	-
North America Member Extended	1.02M	-	-	-	-	-	-	-	-	-
North America Member Extended Growth	-	-	-	-	-	-	-	-	-	-
Asia Member Extended	576K	-	-	-	-	-	-	-	-	-
Asia Member Extended Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

RADCOM Ltd. (RDCM) has a price-to-earnings (P/E) ratio of 30.0x. This suggests investors expect higher future growth.

Growth & Financials

RADCOM Ltd. (RDCM) reported $68.9M in revenue for fiscal year 2024. This represents a 213% increase from $22.0M in 2011.

RADCOM Ltd. (RDCM) grew revenue by 18.2% over the past year. This is strong growth.

Yes, RADCOM Ltd. (RDCM) is profitable, generating $10.6M in net income for fiscal year 2024 (11.4% net margin).

Dividend & Returns

RADCOM Ltd. (RDCM) has a return on equity (ROE) of 7.8%. This is below average, suggesting room for improvement.

RADCOM Ltd. (RDCM) generated $8.7M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics

RADCOM Ltd. (RDCM) has a dividend payout ratio of 0%. This suggests the dividend is well-covered and sustainable.

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