Commenting on the results, Mr. David Ripstein, RADCOM's President and CEO, said, "Our financial results for the third quarter demonstrate the fluctuations inherent in a business based increasingly on long-term, seven-figure orders with long revenue recognition cycles. In general, we are excited that so many of our orders are now for major projects with Tier-1 customers. In fact, our backlog is now extremely strong, and our last-twelve-month bookings are up by 68% compared with the previous 12 months. Thus, although shifts in the timing of revenue recognition can have a significant effect on a single quarter's results, we are on track for achieving strong growth in Q4 and in the year ahead.Mr. Ripstein concluded, "Taken as a whole, the platform of our business remains very strong, reflecting the continued momentum of the mobile data industry, the explosion in network traffic, and the industry's recognition of RADCOM's solutions as an effective response to painful service quality problems. As such, we believe that we are on track with a business plan that should enable us to create significant growth over time."
Shift In Revenue Recognition From Q3 To Q4 Decreases RADCOM's Q3 Revenues To $3.4M
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.