RADCOM LTD.
Reconciliation of GAAP to Non-GAAP Financial Information
Unaudited
(thousands of U.S. dollars, except share and per share data)
Three months ended
December 31,
Twelve months ended
December 31,
2023
2022
2023
2022
GAAP gross profit
$ 10,575
$ 8,898
$ 37,827
$ 33,337
Stock-based compensation
71
100
441
392
Amortization of intangible assets
57
–
151
–
Non-GAAP gross profit
$ 10,703
$ 8,998
$ 38,419
$ 33,729
GAAP research and development, net
$ 4,137
$ 5,130
$ 18,839
$ 20,721
Stock-based compensation
424
602
2,690
2,497
Non-GAAP research and development, net
$ 3,713
$ 4,528
$ 16,149
$ 18,224
GAAP sales and marketing
$ 3,720
$ 3,281
$ 14,592
$ 12,270
Stock-based compensation
370
361
1,820
1,387
Amortization of intangible assets
29
–
77
–
Non-GAAP sales and marketing
$ 3,321
$ 2,920
$ 12,695
$ 10,883
GAAP general and administrative
$ 1,297
$ 1,225
$ 5,058
$ 4,460
Stock-based compensation
319
283
1,169
895
Acquisition related expenses
–
–
56
–
Non-GAAP general and administrative
$ 978
$ 942
$ 3,833
$ 3,565
GAAP total operating expenses
$ 9,154
$ 9,636
$ 38,489
$ 37,451
Stock-based compensation
1,113
1,246
5,678
4,779
Amortization of intangible assets
29
–
77
–
Acquisition related expenses
–
–
56
–
Non-GAAP total operating expenses
$ 8,012
$ 8,390
$ 32,678
$ 32,672
GAAP operating income (loss)
$ 1,421
$ (738)
$ (662)
$ (4,114)
Stock-based compensation
1,184
1,346
6,119
5,171
Amortization of intangible assets
86
–
228
–
Acquisition related expenses
–
–
56
–
Non-GAAP operating income
$ 2,691
$ 608
$ 5,741
$ 1,057
Three months ended
December 31,
Twelve months ended
December 31,
2023
2022
2023
2022
GAAP income (loss) before taxes on income
$ 2,669
$ 13
$ 3,895
$ (2,098)
Stock-based compensation
1,184
1,346
6,119
5,171
Amortization of intangible assets
86
–
228
–
Acquisition related expenses
–
–
56
–
Financial (income) expenses
(15)
–
60
–
Non-GAAP income before taxes on income
$ 3,924
$ 1,359
$ 10,358
$ 3,073
GAAP net income (loss)
$ 2,592
$ (26)
$ 3,713
$ (2,257)
Stock-based compensation
1,184
1,346
6,119
5,171
Amortization of intangible assets
86
–
228
–
Acquisition related expenses
–
–
56
–
Financial (income) expenses
(15)
–
60
–
Non-GAAP net income
$ 3,847
$ 1,320
$ 10,176
$ 2,914
GAAP net income (loss) per diluted share
$ 0.17
$ (0.00)
$ 0.24
$ (0.16)
Stock-based compensation
0.08
0.09
0.43
0.35
Amortization of intangible assets
(*)
–
(*)
–
Acquisition related expenses
(*)
–
(*)
–
Non-GAAP net income per diluted share
$ 0.25
$ 0.09
$ 0.67
$ 0.19
Weighted average number of shares used to compute diluted net income (loss) per share
15,446,177
15,329,035
15,297,947
14,997,667
(*) Less than $ 0.01