On the way to a plus: Redcom is still at a loss, the stock is falling 8% ahead – Global

The communications company

Redcom
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The Israeli (RDCM) traded on the NASDAQ reported today that revenue in the fourth quarter totaled $ 10 million, compared to $ 9 million in the fourth quarter of 2019. The net loss on a non-GAAP basis for the quarter was $ 0.1 million and less than 1 cents per fully diluted share, compared to a net loss on a non-GAAP basis of $ 0.5 million or 4 cents per fully diluted share in the fourth quarter of 2019.

In all of 2020, revenue totaled $ 37.6 million, compared to $ 33 million in 2019. Net loss on a non-GAAP basis: The net loss on a non-GAAP basis for 2020 was $ 1.8 million, or 13 cents per share fully diluted , Compared to a net loss on a non-GAAP basis of $ 4.6 million or 33 cents per fully diluted share in 2019.

“We are pleased with the financial results of the fourth quarter, which marked a year of significant performance. The fourth quarter reflects another quarter of consistent growth and meeting the upper limit of our annual revenue forecast. We continued to manage our operating expenses with discretion throughout 2020 and implement a growth strategy. Workers and customers at the time of the epidemic, “he said Eyal Harari, CEO of Redcom.

“The significant investments we have made in research and development over the years led to the launch in the third quarter of our innovative 5G network service assurance platform, RADCOM ACE, which gained market standing following the multi-year agreement we signed with Rakuten Mobile, one of the industry’s first Alone 5G service assurance districts. ”

“We expect 2021 to be a significant year as more communications operators move to 5G and the first advanced stand-alone networks begin to deploy. We continue to see growth in investment in the 5G market from equipment providers to network operators and believe emerging market trends position us well into the future.

“Our leading 5G solution as well as our expertise are becoming more significant in the face of upgrading networks made by industry players, relying on our automated service assurance platform and cloud-based technology. As the positive momentum in the 5G market grows, we intend to continue investing in our product development. As well as in sales and marketing.

“We are excited to enter the next phase of our long journey and look forward to continued growth in 2021 and we are ready to take advantage of the emerging opportunities in the 5G market while making ongoing adjustments to the ongoing effects of COVID-19. In line with current industry conditions and existing visibility, we provide an annual revenue forecast for 2021 in the range of $ 39-41 million. ”