Exhibit 99.1

RADWARE ANNOUNCES THIRD QUARTER 2018 EARNINGS

Third Quarter 2018 Results and Financial Highlights

· Revenues of $59 Million, up 11% from the third quarter of 2017

· Non-GAAP operating income and margin of $6.3Million and 11%, respectively

· Non-GAAP EPS of $0.15; GAAP EPS of $0.06

· Operating cash flow for the last twelve months of $32 million

First Nine Months 2018 Results and Financial Highlights

· Revenues of $171 Million, up 12% from the first nine months of 2017

· Non-GAAP operating income and margin of $11.8Million and 7%, respectively

· Non-GAAP EPS of $0.31; GAAP EPS of $0.08

TEL AVIV, ISRAEL, NOVEMBER 7, 2018 —Radware^®(NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced its consolidated financial results for the quarter ended September 30, 2018.

“We are pleased with our results for the third quarter, which included year over year double-digit revenue growth and operating margin expansion for the fifth consecutive quarter. We are very well positioned to benefit from the increasing demand for cloud security solutions and continue to invest in our portfolio and market reach in order to continue deliver growth and profitability in the future” said Roy Zisapel, Radware President & CEO.

Financial Highlights for the Third Quarter of 2018

Revenues for the third quarter of 2018 totaled $58.8 million, up 11% from revenues of $53.0 million for the third quarter of 2017:

· Revenues in the Americas region were $26.7million for the third quarter of 2018, essentially flat compared to revenues of $26.6 million in the third quarter of 2017. For the first nine months of 2018, revenues in the Americas region were up 8% over the same period in 2017

· Revenues in the EMEA region were $17.7million for the third quarter of 2018, up 28% from revenues of $13.8 million in the third quarter of 2017.For the first nine months of 2018, revenues in the EMEA region increased 27% over the same period of 2017

· Revenues in the APAC region were $14.4 million for the third quarter of 2018, up 14% from revenues of $12.7 million in the third quarter of 2017.For the first nine months of 2018, revenues in the APAC region increased 2% over the same period of 2017

Net profit on a GAAP basis for the third quarter of 2018 was $3.1 million or $0.06 per diluted share, compared with net loss of ($1.5) million or ($0.03) per diluted share for the third quarter of 2017.

Non-GAAP net income for the third quarter of 2018 was $7.1 million or $0.15 per diluted share, compared with non- GAAP net income of $1.8 million or $0.04 per diluted share for the third quarter of 2017.

Non-GAAP results are calculated excluding the impact of stock-based compensation, exchange rate differences, net on balance sheet items included in financial income, amortization of intangible assets, acquisition costs and litigation costs. A reconciliation of each of the company’s non-GAAP measures to the comparable GAAP measured is included at the end of this press release.

As of September 30, 2018, the Company had cash, cash equivalents, short-term and long-term bank deposits and marketable securities of $382.2 million, up from $367.2 million as of the end of June 30, 2018.

Conference Call

Radware management will host a call on Wednesday, November 7, 2018 at 8:30 am ET to discuss its third quarter 2018 results and the company’s outlook for the fourth quarter of 2018.

Participants in the US call: Toll Free 833-241-4257

Participants Internationally call:  +1-647-689-4208

Conference ID: 6086038

A replay will be available for 2 days, starting 2 hours after the end of the call, on telephone number +1-416-621-4642 or (US toll-free) 800-585-8367.

A live webcast of the conference call can also be heard by accessing the Company's website at:http://www.radware.com/IR/. The webcast will remain available for replay during the next 12 months.

###

Use of Non-GAAP Financial Information

In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), Radware uses non-GAAP measures of gross profit, operating income, financial income, net income and earnings per share, which are adjustments from results based on GAAP to exclude stock-based compensation expenses, in accordance with ASC No. 718, amortization of intangible assets, acquisition costs, litigation costs and exchange rate differences, net on balance sheet items included in finance income. Such exchange rate differences may vary from period to period due to changes in exchange rates driven by general market conditions or other circumstances outside of the normal course of Radware's operations. Management believes that exclusion of these charges allows comparisons of operating results that are consistent across past, present and future periods. Furthermore, Radware uses a measure called “total deferred revenues” which is defined as the sum of short and long term deferred revenues on the balance sheet and uncollected billed amounts that were offset against trade receivables, and are not presented on the balance sheet. Radware’s management believes the non-GAAP financial information provided in this release is useful to investors for the purpose of understanding and assessing Radware’s ongoing operations. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release, to the most directly comparable GAAP financial measures, is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and, as such, has determined that it is important to provide this information to investors.

Safe Harbor Statement

This press release may contain statements concerning Radware’s future prospects that are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware's current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions and volatility of the market for our products; changes in the competitive landscape; inability to realize our investment objectives; timely availability and customer acceptance of our new and existing products; risks and uncertainties relating to acquisitions; the impact of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; Competition in the market for Application Delivery and Network Security solutions and our industry in general is intense; and other factors and risks on which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, reference is made to Radware’s Annual Report on Form 20-F, which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

About Radware

Radware® (NASDAQ: RDWR), is a global leader of cyber security and application delivery solutions for physical, cloud, and software defined data centers. Its award-winning solutions portfolio secures the digital experience by providing infrastructure, application, and corporate IT protection and availability services to enterprises globally. Radware’s solutions empower more than 12,500 enterprise and carrier customers worldwide to adapt to market challenges quickly, maintain business continuity and achieve maximum productivity while keeping costs down. For more information, please visit www.radware.com.

©2018 Radware Ltd. All rights reserved. The Radware products and solutions mentioned in this press release are protected by trademarks, patents and pending patent applications of Radware in the U.S. and other countries. For more details please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.
 

CONTACTS

Investor Relations:

Anat Earon-Heilborn

+972 723917548

ir@radware.com

Media Contacts:

Deborah Szajngarten

Radware

201-785-3206

deborah.szajngarten@radware.com

Radware Ltd.

Condensed Consolidated Balance Sheets

(U.S. Dollars in thousands)

	September 30,			December 31,
	2018			2017
	(Unaudited)			(Unaudited)
Assets
Current assets
Cash and cash equivalents		59,565			65,237
Available-for-sale marketable securities		37,004			42,573
Short-term bank deposits		203,299			93,151
Trade receivables, net		18,491			16,150
Other receivables and prepaid expenses		6,308			12,252
Inventories		20,463			18,772
		345,130			248,135
Long-term investments
Available-for-sale marketable securities		61,078			54,427
Long-term bank deposits		21,258			88,911
Severance pay funds		3,105			3,251
		85,441			146,589
Property and equipment, net		21,848			23,642
Intangible assets, net		9,699			10,415
Other long-term assets		20,064			8,133
Goodwill		32,174			32,174
Total assets		514,356			469,088
Liabilities and shareholders' equity
Current Liabilities
Trade payables		5,424			5,367
Deferred revenues		76,663			69,829
Other payables and accrued expenses		30,663			32,174
		112,750			107,370
Long-term liabilities
Deferred revenues		41,040			43,482
Other long-term liabilities		5,484			2,880
		46,524			46,362
Shareholders' equity
Share capital		691			673
Additional paid-in capital		378,067			349,250
Accumulated other comprehensive loss, net of tax		(1,168	)		(443	)
Treasury stock, at cost		(116,442	)		(116,442	)
Retained earnings		93,934			82,318
Total shareholders' equity		355,082			315,356
Total liabilities and shareholders' equity		514,356			469,088

Radware Ltd.

Condensed Consolidated Statements of Income (loss)

(U.S Dollars in thousands, except share and per share data)

	For the three months ended						For the nine months ended
	September 30,						September 30,
	2018			2017			2018			2017
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Revenues		58,764			53,047			170,587			152,915
Cost of revenues		10,278			9,928			30,558			28,556
Gross profit		48,486			43,119			140,029			124,359
Operating expenses:
Research and development, net		14,434			14,678			43,729			43,931
Selling and marketing		27,263			27,189			83,249			79,578
General and administrative		3,985			4,152			11,851			13,312
Total operating expenses		45,682			46,019			138,829			136,821
Operating income (loss)		2,804			(2,900	)		1,200			(12,462	)
Financial income, net		1,487			2,148			4,877			3,895
Income (loss) before taxes on income		4,291			(752	)		6,077			(8,567	)
Taxes on income		(1,178	)		(725	)		(2,285	)		(1,047	)
Net income (loss)		3,113			(1,477	)		3,792			(9,614	)
Basic net income (loss) per share		0.07			(0.03	)		0.08			(0.22	)
Weighted average number of shares used to compute basic net earnings (loss) per share		45,537,801			43,951,325			45,030,328			43,347,092
Diluted net earnings (loss) per share		0.06			(0.03	)		0.08			(0.22	)
Weighted average number of shares used to compute diluted net earnings (loss) per share		48,519,880			43,951,325			48,012,407			43,347,092

Radware Ltd.

Reconciliation of GAAP to Non-GAAP Financial Information

(U.S Dollars in thousands, except share and per share data)

	For the three months ended					For the nine months ended
	September 30,					September 30,
	2018		2017			2018		2017
	(Unaudited)		(Unaudited)			(Unaudited)		(Unaudited)
GAAP gross profit		48,486		43,119			140,029		124,359
Stock-based compensation		54		65			171		181
Amortization of intangible assets		212		379			654		1,051
Non-GAAP gross profit		48,752		43,563			140,854		125,591
GAAP research and development, net		14,434		14,678			43,729		43,931
Stock-based compensation		819		957			2,429		2,883
Non-GAAP Research and development, net		13,615		13,721			41,300		41,048
GAAP selling and marketing		27,263		27,189			83,249		79,578
Stock-based compensation		1,666		1,678			5,344		5,177
Amortization of intangible assets		20		23			61		70
Non-GAAP selling and marketing		25,577		25,488			77,844		74,331
GAAP general and administrative		3,985		4,152			11,851		13,312
Stock-based compensation		527		570			1,312		1,573
Acquisition costs		-		-			-		340
Litigation costs		214		357			627		1,976
Non-GAAP general and administrative		3,244		3,225			9,912		9,423
GAAP total operating expenses		45,682		46,019			138,829		136,821
Stock-based compensation		3,012		3,205			9,085		9,633
Acquisition costs		-		-			-		340
Amortization of intangible assets		20		23			61		70
Litigation costs		214		357			627		1,976
Non-GAAP total operating expenses		42,436		42,434			129,056		124,802
GAAP operating income (loss)		2,804		(2,900	)		1,200		(12,462	)
Stock-based compensation		3,066		3,270			9,256		9,814
Acquisition costs		-		-			-		340
Amortization of intangible assets		232		402			715		1,121
Litigation costs		214		357			627		1,976
Non-GAAP operating income (loss)		6,316		1,129			11,798		789
GAAP finance income		1,487		2,148			4,877		3,895
Exchange rate differences, net on balance sheet items included in financial income		432		(729	)		255		77
Non-GAAP finance income		1,919		1,419			5,132		3,972
GAAP income (loss) before taxes on income		4,291		(752	)		6,077		(8,567	)
Stock-based compensation		3,066		3,270			9,256		9,814
Acquisition costs		-		-			-		340
Amortization of intangible assets		232		402			715		1,121
Litigation costs		214		357			627		1,976
Exchange rate differences, net on balance sheet items included in financial income		432		(729	)		255		77
Non-GAAP income before taxes on income		8,235		2,548			16,930		4,761
GAAP net income (loss)		3,113		(1,477	)		3,792		(9,614	)
Stock-based compensation		3,066		3,270			9,256		9,814
Acquisition costs		-		-			-		340
Amortization of intangible assets		232		402			715		1,121
Litigation costs		214		357			627		1,976
Exchange rate differences, net on balance sheet items included in financial income		432		(729	)		255		77
Non-GAAP net income		7,057		1,823			14,645		3,714
GAAP Net earnings (loss) per diluted share		0.06		(0.03	)		0.08		(0.22	)
Stock-based compensation		0.06		0.07			0.19		0.22
Acquisition costs		0.00		0.00			0.00		0.01
Amortization of intangible assets		0.01		0.01			0.02		0.03
Litigation costs		0.01		0.01			0.01		0.04
Exchange rate differences, net on balance sheet items included in financial income		0.01		(0.02	)		0.01		0.00
Non-GAAP Net earnings per diluted share		0.15		0.04			0.31		0.08
Weighted average number of shares used to compute Non-GAAP diluted net earnings per share		48,519,880		45,210,495			48,012,407		44,431,570

Radware Ltd.

Condensed Consolidated Statements of Cash Flow

(U.S. Dollars in thousands)

	For the three months ended						For the nine months ended
	September 30,						September 30,
	2018			2017			2018			2017
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Cash flow from operating activities:
Net income (loss)		3,113			(1,477	)		3,792			(9,614	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		2,433			2,861			7,380			8,667
Stock based compensation		3,066			3,270			9,256			9,814
Amortization of premium, accretion of discounts and accrued interest on available-for- sale marketable securities, net		192			450			882			1,081
Accrued interest on bank deposits		(1,217	)		(720	)		(1,429	)		812
Increase (decrease) in accrued severance pay, net		(8	)		44			134			220
Decrease (increase) in trade receivables, net		107			5,324			(2,494	)		7,226
Decrease (increase) in other receivables and prepaid expenses and other long-term assets		(206	)		(459	)		4,493			379
Decrease (increase) in inventories		(2,020	)		731			(1,691	)		(1,610	)
Increase (decrease) in trade payables		680			(1,415	)		57			(1,551	)
Increase (decrease) in deferred revenues		(2,774	)		2,713			4,392			17,662
Increase (decrease) in other payables and accrued expenses		5,465			(5,483	)		(1,217	)		(9,579	)
Net cash provided by operating activities		8,831			5,839			23,555			23,507
Cash flows from investing activities:
Purchase of property and equipment		(1,595	)		(1,240	)		(4,870	)		(5,597	)
Proceeds from (investment in) other long-term assets, net		0			(4	)		38			12
Investment in bank deposits, net		(15,000	)		(2,074	)		(41,067	)		(37,200	)
Proceeds from (investment in) sale, redemption of and purchase of available-for-sale marketable securities ,net		(1,035	)		485			(2,907	)		(1,538	)
Payment for acquisition of subsidiary, net of cash acquired		0			0			0			(8,269	)
Net cash used in investing activities		(17,630	)		(2,833	)		(48,806	)		(52,592	)
Cash flows from financing activities:
Proceeds from exercise of stock options		6,688			851			19,579			3,389
Repurchase of shares		0			(413	)		0			(413	)
Net cash provided by financing activities		6,688			438			19,579			2,976
Increase (decrease) in cash and cash equivalents		(2,111	)		3,444			(5,672	)		(26,109	)
Cash and cash equivalents at the beginning of the period		61,676			50,086			65,237			79,639
Cash and cash equivalents at the end of the period		59,565			53,530			59,565			53,530