Exhibit 99.1

RADWARE ANNOUNCES FOURTH QUARTER AND FULL YEAR 2018 EARNINGS

Fourth Quarter 2018 Results and Financial Highlights

Record Revenues of $64 Million, up 9% from the fourth quarter of 2017

Non-GAAP operating income and margin of $9.8Million and 15%, respectively

Non-GAAP EPS of $0.24 GAAP EPS of $0.16

Full Year 2018 Results and Financial Highlights

Record Revenues of $234 Million, up 11% from 2017

Non-GAAP operating income and margin of $22 Million and 9.2%, respectively

Non-GAAP EPS of $0.55; GAAP EPS of $0.25

Operating cash flow of $49 million

TEL AVIV, ISRAEL, FEBRUARY 6, 2019 — Radware^® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced its consolidated financial results for the quarter and year ended December 31, 2018.

“We are pleased with our strong results for the fourth quarter, concluding a strong year that exceeded our expectations. Revenue growth, profitability and cash generation have all markedly increased from 2017. We continued to execute our strategy, focusing on datacenter and cloud, and delivered on our goals. Our portfolio is the widest and most advanced it has ever been, reflecting innovative technology leadership and a close alignment to customer needs, especially given our focus on subscriptions and cloud security solutions. We look forward to the opportunities ahead of us in 2019 and beyond.” said Roy Zisapel, Radware President & CEO.

Financial Highlights for the Fourth Quarter of 2018

Revenues for the fourth quarter of 2018 totaled $63.8 million, up 9% from revenues of $58.5 million for the fourth quarter of 2017:

Revenues in the Americas region were $27.7 million for the fourth quarter of 2018, down 4% compared to revenues of $28.7 million in the fourth quarter of 2017.

Revenues in the EMEA region were $23.2 million for the fourth quarter of 2018, up 53% from revenues of $15.1 million in the fourth quarter of 2017.

Revenues in the APAC region were $12.9 million for the fourth quarter of 2018, down 12% from revenues of $14.6 million in the fourth quarter of 2017.

Net profit on a GAAP basis for the fourth quarter of 2018 was $7.9 million or $0.16 per diluted share, compared with net income of $2.1 million or $0.05 per diluted share for the fourth quarter of 2017.

Non-GAAP net income for the fourth quarter of 2018 was $11.4 million or $0.24 per diluted share, compared with non- GAAP net income of $3.9 million or $0.09 per diluted share for the fourth quarter of 2017.

Financial Highlights for the Full Year of 2018

Revenues for the full year of 2018 totaled $234.4 million, up 11% from revenues of $211.4 million for the full year of 2017:

Revenues in the Americas region were $102.5 million for the full year of 2018, up 5% from revenues of $97.9 in the full year of 2017.

Revenues in the EMEA region were $75.8 million for the full year of 2018, up 34% from revenues of $56.6 in the full year of 2017.

Revenues in the APAC region were $56.2 million for the full year of 2018, down 1% from revenues of $56.9 in the full year of 2017.

Net profit on a GAAP basis for the full year of 2018 was $11.7 million or $0.25 per share, compared with net loss of ($7.5) million or ($0.17) per diluted share for the full year of 2017.

Non-GAAP net income for the full year of 2017 was $26.0 million or $0.55 per diluted share, compared with non-GAAP net income of $7.6 million or $0.17 per diluted share for the full year 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 December 31, 2018, the Company had cash, cash equivalents, short-term and long-term bank deposits and marketable securities of $401.1 million, up from $382.2 million as of the end of September 30, 2018 and $344.3 million as of December 31^st, 2017. Cash generated from operations in the fourth quarter of 2018 totaled $25.7 million. Cash generated from operations in the full year of 2018 totaled $49.3 million. Cash used for share repurchase in the fourth quarter and full year of 2018 totaled $4.3 million.

Conference Call

Radware management will host a call on Wednesday, February 6, 2019 at 8:30 am ET to discuss its fourth quarter and full year 2018 results and the company’s outlook for the first quarter of 2019.

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

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

Conference ID: 4794777

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.

©2019 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)

	December 31,			December 31,
	2018			2017
	(Unaudited)			(Unaudited)
Assets

Current assets
Cash and cash equivalents		45,203			65,237
Available-for-sale marketable securities		15,742			42,573
Short-term bank deposits		255,454			93,151
Trade receivables, net		17,166			16,150
Other receivables and prepaid expenses		6,667			12,252
Inventories		18,401			18,772
		358,633			248,135

Long-term investments
Available-for-sale marketable securities		84,669			54,427
Long-term bank deposits		0			88,911
Severance pay funds		2,973			3,251
		87,642			146,589

Property and equipment, net		23,677			23,642
Intangible assets, net		9,467			10,415
Other long-term assets		20,724			8,133
Goodwill		32,174			32,174
Total assets		532,317			469,088

Liabilities and shareholders' equity

Current Liabilities
Trade payables		4,483			5,367
Deferred revenues		83,955			69,829
Other payables and accrued expenses		29,918			32,174
		118,356			107,370

Long-term liabilities
Deferred revenues		43,796			43,482
Other long-term liabilities		6,208			2,880
		50,004			46,362

Shareholders' equity
Share capital		693			673
Additional paid-in capital		383,536			349,250
Accumulated other comprehensive loss, net of tax		(1,110	)		(443	)
Treasury stock, at cost		(120,717	)		(116,442	)
Retained earnings		101,555			82,318
Total shareholders' equity		363,957			315,356

Total liabilities and shareholders' equity		532,317			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 year ended
	December 31,					December 31,
	2018		2017			2018		2017
	(Unaudited)		(Unaudited)			(Unaudited)		(Unaudited)

Revenues		63,817		58,454			234,404		211,369
Cost of revenues		11,117		11,060			41,675		39,616
Gross profit		52,700		47,394			192,729		171,753

Operating expenses, net:
Research and development, net		13,945		15,072			57,674		59,003
Selling and marketing		28,137		29,166			111,386		108,744
General and administrative		4,294		4,265			16,145		17,577
Other income		0		(6,900	)		0		(6,900	)
Total operating expenses, net		46,376		41,603			185,205		178,424

Operating income (loss)		6,324		5,791			7,524		(6,671	)
Financial income, net		2,397		935			7,274		4,830
Income (loss) before taxes on income		8,721		6,726			14,798		(1,841	)
Taxes on income		778		4,605			3,063		5,652
Net income (loss)		7,943		2,121			11,735		(7,493	)

Basic net income (loss) per share		0.17		0.05			0.26		(0.17	)

Weighted average number of shares used to compute basic net earnings (loss) per share		46,357,278		43,859,400			45,289,296		43,475,844

Diluted net earnings (loss) per share		0.16		0.05			0.25		(0.17	)

Weighted average number of shares used to compute diluted net earnings (loss) per share		48,279,751		45,728,792			47,691,868		43,475,844

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 year ended
	December 31,						December 31,
	2018			2017			2018			2017
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
GAAP gross profit		52,700			47,394			192,729			171,753
Stock-based compensation		50			60			221			241
Amortization of intangible assets		212			86			866			1,137
Acquisition costs		-			550			-			550
Non-GAAP gross profit		52,962			48,090			193,816			173,681

GAAP research and development, net		13,945			15,072			57,674			59,003
Stock-based compensation		694			984			3,123			3,867
Acquisition costs		20			204			20			204
Non-GAAP Research and development, net		13,231			13,884			54,531			54,932

GAAP selling and marketing		28,137			29,166			111,386			108,744
Stock-based compensation		1,727			1,717			7,071			6,894
Amortization of intangible assets		21			24			82			94
Non-GAAP selling and marketing		26,389			27,425			104,233			101,756

GAAP general and administrative		4,294			4,265			16,145			17,577
Stock-based compensation		775			456			2,087			2,029
Acquisition costs		(222	)		-			(222	)		340
Litigation costs		202			76			829			2,052
Non-GAAP general and administrative		3,539			3,733			13,451			13,156

GAAP other income		-			(6,900	)		-			(6,900	)
Court verdict		-			(6,900	)		-			(6,900	)
Non-GAAP other income		-			-			-			-

GAAP total operating expenses, net		46,376			41,603			185,205			178,424
Stock-based compensation		3,196			3,157			12,281			12,790
Acquisition costs		(202	)		204			(202	)		544
Amortization of intangible assets		21			24			82			94
Litigation costs		202			76			829			2,052
Court verdict		-			(6,900	)		-			(6,900	)
Non-GAAP total operating expenses, net		43,159			45,042			172,215			169,844

GAAP operating income (loss)		6,324			5,791			7,524			(6,671	)
Stock-based compensation		3,246			3,217			12,502			13,031
Acquisition costs		(202	)		754			(202	)		1,094
Amortization of intangible assets		233			110			948			1,231
Litigation costs		202			76			829			2,052
Court verdict		-			(6,900	)		-			(6,900	)
Non-GAAP operating income (loss)		9,803			3,048			21,601			3,837

GAAP financial income, net		2,397			935			7,274			4,830
Exchange rate differences, net on balance sheet items included in financial income, net		(59	)		558			196			635
Non-GAAP financial income, net		2,338			1,493			7,470			5,465

GAAP income (loss) before taxes on income		8,721			6,726			14,798			(1,841	)
Stock-based compensation		3,246			3,217			12,502			13,031
Acquisition costs		(202	)		754			(202	)		1,094
Amortization of intangible assets		233			110			948			1,231
Litigation costs		202			76			829			2,052
Court verdict		-			(6,900	)		-			(6,900	)
Exchange rate differences, net on balance sheet items included in financial income, net		(59	)		558			196			635
Non-GAAP income before taxes on income		12,141			4,541			29,071			9,302

GAAP taxes on income		778			4,605			3,063			5,652
Change in the federal rate		-			3,249			-			3,249
Court verdict		-			724			-			724
Non-GAAP taxes on income		778			8,578			3,063			9,625

GAAP net income (loss)		7,943			2,121			11,735			(7,493	)
Stock-based compensation		3,246			3,217			12,502			13,031
Acquisition costs		(202	)		754			(202	)		1,094
Amortization of intangible assets		233			110			948			1,231
Litigation costs		202			76			829			2,052
Exchange rate differences, net on balance sheet items included in financial income, net		(59	)		558			196			635
Change in the federal rate		-			3,249			-			3,249
Court verdict		-			(6,176	)		-			(6,176	)
Non-GAAP net income		11,363			3,909			26,008			7,623

GAAP Net earnings (loss) per diluted share		0.16			0.05			0.25			(0.17	)
Stock-based compensation		0.07			0.07			0.26			0.30
Acquisition costs		(0.00	)		0.02			(0.00	)		0.02
Amortization of intangible assets		0.00			0.00			0.02			0.03
Litigation costs		0.00			0.00			0.02			0.05
Exchange rate differences, net on balance sheet items included in financial income, net		(0.00	)		0.01			0.00			0.01
Change in the federal rate		0.00			0.08			0.00			0.07
Court verdict		0.00			(0.14	)		0.00			(0.14	)
Non-GAAP Net earnings per diluted share		0.24			0.09			0.55			0.17

Weighted average number of shares used to compute Non-GAAP diluted net earnings per share		48,279,751			45,728,792			47,691,868			44,756,732

Radware Ltd.

Condensed Consolidated Statements of Cash Flow

(U.S. Dollars in thousands)

	For the three months ended						For the year ended
	December 31,						December 31,
	2018			2017			2018			2017
	(Unaudited)			(Unaudited)			(Unaudited)			(Unaudited)
Cash flow from operating activities:

Net income (loss)		7,943			2,121			11,735			(7,493	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization		2,402			2,567			9,782			11,234
Stock based compensation		3,246			3,217			12,502			13,031
Loss (gain) from sale of available-for-sale marketable securities		0			(18	)		0			(18	)
Amortization of premium, accretion of discounts and accrued interest on available-for- sale marketable securities, net		513			465			1,395			1,546
Accrued interest on bank deposits		(962	)		(586	)		(2,391	)		226
Increase (decrease) in accrued severance pay, net		189			(430	)		323			(210	)
Decrease (increase) in trade receivables, net		1,325			(3,836	)		(1,169	)		3,390
Decrease (increase) in other receivables and prepaid expenses and other long-term assets		(1,359	)		(8,258	)		3,133			(7,879	)
Decrease (increase) in inventories		2,062			(48	)		371			(1,658	)
Increase (decrease) in trade payables		(941	)		817			(884	)		(734	)
Increase in deferred revenues		10,048			11,119			14,440			28,781
Increase (decrease) in other payables and accrued expenses		1,231			826			14			(8,753	)
Net cash provided by operating activities		25,697			7,956			49,251			31,463

Cash flows from investing activities:

Purchase of property and equipment		(3,998	)		(1,613	)		(8,869	)		(7,210	)
Proceeds from (investment in) other long-term assets, net		0			(18	)		40			(6	)
Investment in bank deposits, net		(29,935	)		0			(71,002	)		(37,200	)
Proceeds from (investment in) sale, redemption of and purchase of available-for-sale marketable securities ,net		(2,765	)		(2,119	)		(5,672	)		(3,657	)
Payment for acquisition of subsidiary, net of cash acquired		0			0			0			(8,269	)
Net cash used in investing activities		(36,698	)		(3,750	)		(85,503	)		(56,342	)

Cash flows from financing activities:

Proceeds from exercise of stock options		2,223			7,501			21,802			10,890
Repayment of contingent consideration		(1,310	)		0			(1,310	)		0
Repurchase of shares		(4,274	)		0			(4,274	)		(413	)
Net cash provided by financing activities		(3,361	)		7,501			16,218			10,477

Increase (decrease) in cash and cash equivalents		(14,362	)		11,707			(20,034	)		(14,402	)
Cash and cash equivalents at the beginning of the period		59,565			53,530			65,237			79,639
Cash and cash equivalents at the end of the period		45,203			65,237			45,203			65,237