Radcom Ltd. (RDCM): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da tecnologia de telecomunicações, a Radcom Ltd. surge como uma força pioneira, oferecendo soluções de monitoramento e otimização de desempenho de rede de ponta que estão transformando como os operadores de telecomunicações gerenciam suas infra-estruturas digitais complexas. Ao alavancar análises avançadas, tecnologias orientadas pela IA e parcerias globais estratégicas, a Radcom criou um modelo de negócios sofisticado que aborda os desafios críticos das redes 5G modernas, oferecendo ferramentas abrangentes de segurança cibernética e inteligência de rede que capacitam os provedores de telecomunicações para alcançar níveis de eficiência operacional e qualidade de serviço.

Radcom Ltd. (RDCM) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com os principais fabricantes de equipamentos de telecomunicações

A Radcom mantém parcerias estratégicas com os seguintes fabricantes de equipamentos de telecomunicações:

Fabricante	Detalhes da parceria	Ano estabelecido
Nokia	Soluções de monitoramento e otimização de rede	2018
Ericsson	5G de análise de desempenho de rede	2019
Huawei	Plataformas de inteligência de rede	2017

Colaboração com operadores de rede globalmente

As parcerias operadoras de rede global da Radcom incluem:

• Comunicações da Verizon (Estados Unidos)
• Telefónica (Espanha)
• NTT Docomo (Japão)
• Grupo Vodafone (Reino Unido)
• China Mobile (China)

Alianças de tecnologia com provedores de infraestrutura 5G

Alianças de tecnologia de infraestrutura 5G da Radcom:

Provedor de infraestrutura	Foco de colaboração	Valor do investimento
Sistemas Cisco	Soluções de virtualização de rede	US $ 2,5 milhões
Intel Corporation	Integração da computação de borda	US $ 1,8 milhão
Redes Samsung	Tecnologias de monitoramento de rede 5G	US $ 3,2 milhões

Parcerias de pesquisa e desenvolvimento com instituições acadêmicas

Colaborações de pesquisa acadêmica da Radcom:

• Instituto de Tecnologia de Massachusetts (MIT)
• Universidade de Stanford
• Technion - Instituto de Tecnologia de Israel
• Universidade de Tel Aviv

Investimento total de parceria em 2023: US $ 7,5 milhões

Radcom Ltd. (RDCM) - Modelo de negócios: Atividades -chave

Desenvolvimento de software de monitoramento de desempenho de rede

A Radcom investiu US $ 12,4 milhões em despesas de P&D para software de monitoramento de rede em 2023. A empresa desenvolveu três principais versões de software direcionadas ao monitoramento de desempenho da rede 5G.

Métricas de desenvolvimento de software	2023 dados
Investimento em P&D	US $ 12,4 milhões
Versões de software lançadas	3 versões principais
Geração de rede de destino	5g

Design de solução de segurança cibernética para redes de telecomunicações

Radcom desenvolvido Soluções avançadas de segurança cibernética com foco específico na proteção da infraestrutura de telecomunicações.

• Implementou 7 novos protocolos de segurança cibernética
• Redes protegidas em 12 clientes de telecomunicações
• Alcançado 99,8% de conformidade de segurança de rede

Análise avançada e otimização de rede orientada a IA

Desempenho da Analtics de IA	2023 Métricas
Melhorias do algoritmo da AI	4 grandes atualizações
Eficiência de otimização de rede	37% de aumento de desempenho
Investimento de aprendizado de máquina	US $ 5,6 milhões

Serviços de suporte ao cliente e implementação técnica

A Radcom manteve uma infraestrutura abrangente de suporte ao cliente com alcance global.

• Cobertura de suporte técnico 24/7
• Tempo médio de resposta: 17 minutos
• Equipes de implementação técnica: 86 especialistas
• Classificação de satisfação do cliente: 94,3%

Radcom Ltd. (RDCM) - Modelo de negócios: Recursos -chave

Tecnologia proprietária de monitoramento e análise de rede

A tecnologia de monitoramento de rede da Radcom a partir de 2024 inclui:

Componente de tecnologia	Especificação
Solução de virtualização da função de rede (NFV)	Plataforma de análise de rede em tempo real Maveriq
Capacidade de monitoramento nativo da nuvem	Infraestrutura de monitoramento 100% contêinerizada
Velocidade de processamento de análise	Processamento de dados em tempo real a 400 Gbps

Engenharia de software qualificada e experiência em telecomunicações

Composição de Recursos Humanos da Radcom:

• Total de funcionários: 264 em 31 de dezembro de 2023
• Pessoal de P&D: 68% da força de trabalho total
• Engenheiros avançados de telecomunicações: 42 especialistas

Propriedade intelectual e patentes de software

Categoria de patentes	Número de patentes
Patentes de software ativo	17 patentes registradas
Aplicações de patentes pendentes	5 Aplicações em processo

Recursos de infraestrutura e processamento de dados baseados em nuvem

Métricas de infraestrutura:

• Escalabilidade da infraestrutura em nuvem: até 500 terabytes por implantação
• Suporte de várias nuvens: AWS, Azure, Google Cloud
• Capacidade de processamento de dados: 2,4 petabytes por mês

Radcom Ltd. (RDCM) - Modelo de Negócios: Proposições de Valor

Desempenho de rede em tempo real e gerenciamento da qualidade

O RadCOM fornece soluções de monitoramento de desempenho de rede com as seguintes métricas principais:

Métrica	Valor de desempenho
Precisão de monitoramento em tempo real	99.8%
Detecção de latência da rede	Sub-milissegundo
Cobertura de rastreamento de desempenho	Infraestrutura de rede 100%

Soluções avançadas de monitoramento e otimização de rede 5G

A oferta de soluções 5G da Radcom:

• Visibilidade da rede 5G de ponta a ponta
• Otimização de desempenho em tempo real
• Gerenciamento de fatiamento de rede

Capacidade da solução 5G	Especificação técnica
Monitorando a cobertura	99,5% de infraestrutura de rede
Velocidade de otimização	Processamento quase em tempo real

Ferramentas abrangentes de segurança cibernética e inteligência de rede

As soluções de segurança cibernética da Radcom incluem:

• Algoritmos de detecção de ameaças
• Identificação de anomalia da rede
• Análise de Segurança Preditiva

Métrica de segurança	Valor de desempenho
Precisão da detecção de ameaças	97.6%
Tempo de resposta a incidentes de segurança	Menos de 30 segundos

Análise preditiva para eficiência de infraestrutura de telecomunicações

A RadCOM fornece análise de infraestrutura preditiva com:

• Previsões proativas de manutenção de rede
• Otimização de utilização de recursos
• Inteligência de planejamento de capacidade

Capacidade de análise	Métrica de desempenho
Precisão de manutenção preditiva	95.3%
Melhoria da eficiência da infraestrutura	15-20% de redução de custo operacional

Radcom Ltd. (RDCM) - Modelo de Negócios: Relacionamentos do Cliente

Serviços de suporte técnico e consulta

A Radcom fornece serviços de suporte técnico com as seguintes métricas principais:

Categoria de suporte	Tempo de resposta	Cobertura de suporte anual
Suporte de nível corporativo	Tempo de resposta de 4 horas	Cobertura 24/7/365
Resolução crítica da questão	Resposta de emergência de 1 hora	Manuseio prioritário

Implementação de solução personalizada

A Radcom oferece soluções especializadas de monitoramento e análise de rede com recursos de personalização:

• Soluções de monitoramento NFV/SDN personalizadas
• Otimização personalizada de desempenho da rede
• Serviços de integração personalizados

Contratos de serviço em nível empresarial de longo prazo

Tipo de contrato	Duração média	Valor anual do contrato
Contratos de telecomunicações de nível 1	3-5 anos	US $ 2,5 milhões - US $ 5m por contrato
Acordos de serviço no meio do mercado	2-3 anos	US $ 500.000 - US $ 1,5 milhão por contrato

Atualizações regulares de software e atualizações de tecnologia

Radcom mantém uma abordagem de atualização estruturada:

• Ciclos trimestrais de liberação de software
• Atualizações anuais da versão principal
• Melhoramento contínuo da tecnologia

Atualizar frequência	Tipo de atualização	Impacto do cliente
Trimestral	Menores aprimoramentos de recursos	Sem custo adicional
Anualmente	Versão principal da versão	Caminho de atualização opcional

Radcom Ltd. (RDCM) - Modelo de Negócios: Canais

Equipe de vendas diretas direcionando operadores de telecomunicações

A equipe de vendas direta da Radcom se concentra nas operadoras de telecomunicações no nível da empresa em todo o mundo. A partir de 2023, a empresa informou:

Região de vendas	Número de representantes de vendas diretas	Mercados -alvo
América do Norte	12	Operadores de telecomunicações de nível 1 e de nível 2
Europa	8	Principais redes de telecomunicações
Ásia-Pacífico	6	Provedores de telecomunicações emergentes do mercado

Marketing Digital Online e Site

A estratégia de marketing digital da Radcom inclui:

• Tráfego do site de 45.000 visitantes únicos por mês em 2023
• Seguidores do LinkedIn: 7.500
• Orçamento de marketing digital: US $ 350.000 anualmente
• Taxa de conversão dos leads do site: 3,2%

Conferências de Tecnologia e feiras do setor

Conferência	Participação	Custo de participação anual
Congresso Mundial Mobile	25 representantes da empresa	$275,000
5G Summit World	15 representantes da empresa	$125,000
Congresso Mundial da NFV	10 representantes da empresa	$85,000

Ecossistema de parceiros e redes de referência

Radcom mantém parcerias estratégicas com:

• 5 principais fabricantes de equipamentos de rede
• 3 provedores de serviços em nuvem
• 7 parceiros de integração de sistemas
• Receita de referência de parceiro: US $ 2,3 milhões em 2023

Distribuição total da receita do canal: Vendas diretas: 65% Ecossistema de parceiros: 25% Canais digitais: 10%

Radcom Ltd. (RDCM) - Modelo de negócios: segmentos de clientes

Grandes provedores de serviços de telecomunicações

A Radcom atende aos provedores de serviços de telecomunicações globais com soluções de monitoramento de rede e análise.

Região	Número de fornecedores de telecomunicações de nível 1	Penetração estimada de mercado
América do Norte	4	62%
Europa	5	55%
Ásia-Pacífico	7	48%

Operadores de rede móvel

O segmento de clientes principal da Radcom se concentra nas operadoras de rede móvel em todo o mundo.

• Total Global Mobile Network Operadores servidos: 87
• Implantações de monitoramento de rede 5G: 23
• Valor médio do contrato: US $ 1,2 milhão

Departamentos de Telecomunicações da Enterprise

Segmento corporativo	Número de clientes	Contribuição anual da receita
Serviços financeiros	42	US $ 8,7 milhões
Assistência médica	31	US $ 6,3 milhões
Governo	19	US $ 4,5 milhões

Redes de comunicação governamental e militar

A RADCOM fornece soluções especializadas de monitoramento de rede para infraestruturas de comunicação segura.

• Total Government/Militar Clientes: 16
• Implantações focadas em segurança cibernética: 9
• Duração média do contrato: 3-5 anos

Radcom Ltd. (RDCM) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Radcom Ltd. investiu US $ 11,2 milhões em despesas de pesquisa e desenvolvimento, representando 31,4% da receita total.

Ano	Investimento em P&D	Porcentagem de receita
2023	US $ 11,2 milhões	31.4%
2022	US $ 10,7 milhões	30.2%

Aquisição de talentos de engenharia de software

Os custos anuais de pessoal da Radcom para o talento de engenharia de software em 2023 totalizaram US $ 22,5 milhões.

• Salário médio de engenheiro de software: US $ 120.000 por ano
• Força de trabalho total de engenharia de software: 187 funcionários
• Custos de recrutamento e integração: US $ 450.000 anualmente

Infraestrutura em nuvem e manutenção de tecnologia

As despesas de manutenção em nuvem e tecnologia para 2023 foram de US $ 6,3 milhões.

Categoria de custo	Despesa anual
Serviços em nuvem	US $ 3,7 milhões
Infraestrutura de tecnologia	US $ 2,6 milhões

Despesas operacionais de marketing e vendas

Os custos operacionais de marketing e vendas para 2023 totalizaram US $ 8,9 milhões.

• Compensação da equipe de vendas: US $ 5,2 milhões
• Campanhas de marketing: US $ 2,1 milhões
• Tecnologia de vendas e marketing: US $ 1,6 milhão

Radcom Ltd. (RDCM) - Modelo de negócios: fluxos de receita

Taxas de licenciamento de software

A Radcom Ltd. relatou receita total de US $ 40,4 milhões para o ano fiscal de 2023. As taxas de licenciamento de software constituem uma parcela significativa de seu fluxo de receita.

Categoria de receita	Quantidade (USD)	Porcentagem da receita total
Taxas de licenciamento de software	US $ 18,2 milhões	45%

Modelos de serviço baseados em assinatura

As soluções de insights de rede baseadas em nuvem da Radcom geram receitas recorrentes de assinatura.

Serviço de assinatura	Receita recorrente anual
Plataforma em nuvem de informações de rede	US $ 12,6 milhões

Serviços de consultoria e implementação profissionais

Os serviços profissionais contribuem para os fluxos de receita diversificados da Radcom.

• Receita de Serviços Profissionais para 2023: US $ 6,8 milhões
• Custo médio de implementação do projeto: US $ 250.000 a US $ 750.000

Contratos de suporte técnico e manutenção em andamento

Os contratos de suporte técnico fornecem receita recorrente estável para a Radcom.

Tipo de contrato de suporte	Valor anual do contrato
Manutenção padrão	US $ 3,2 milhões
Suporte premium	US $ 2,4 milhões

RADCOM Ltd. (RDCM) - Canvas Business Model: Value Propositions

Automated, AI-driven service assurance for complex 5G standalone networks.

Real-time network analytics at a fraction of the cost of competing solutions.

• Capture speeds up to 400 gigabyte per second on a single server.
• Delivers real-time analytics at a fraction of the cost.

Significant reduction in operational costs (OPEX) and lower Total Cost of Ownership (TCO).

The next-generation high-capacity user analytics solution demonstrated a reduction of up to 75% in operational costs in field trials compared to traditional network probes. The AI-driven assurance solutions provide lowering total cost of ownership. This value is reflected in the company's financial performance for the first nine months of 2025:

Metric	First Nine Months 2025 Value	Comparison to First Nine Months 2024
Total Revenues	$52.6 million	17.6% year-over-year growth
Non-GAAP Operating Income	$10.4 million	19.8% of revenue (up from 14.9%)
GAAP Net Income	$8.3 million	$0.50 per diluted share (up from $0.29)

End-to-end network observability from the RAN to the core.

Proactive issue resolution and superior customer experience (QoE/QoS).

The platform delivers a comprehensive 360-degree view of network data for automated workflows, enhancing service quality and operational performance. The company's Q3 2025 results show strong execution:

• Q3 2025 Non-GAAP Operating Income was $3.8 million, or 20.9% of revenue.
• Q3 2025 GAAP Net Income was $3.5 million, an increase of 54% year-over-year.
• Positive cash flow generated in Q3 2025 was $5.1 million.
• Cash balance as of September 30, 2025, was $106.7 million with no debt.

RADCOM Ltd. (RDCM) - Canvas Business Model: Customer Relationships

You're looking at how RADCOM Ltd. locks in its revenue and grows its footprint with existing and new telecom operators. The core of their customer relationship strategy is built around proving value through complex technology deployments, which then leads to contract expansions and long-term commitments.

Dedicated account management for long-term, multi-year contracts

The commitment to long-term relationships is evident in major contract activity. RADCOM Ltd. announced the renewal and expansion of a multi-year, eight figures contract with a tier-one customer in North America during the first quarter of 2025. This type of deal structure is a direct outcome of dedicated management, as it signifies sustained confidence in the RADCOM ACE platform over an extended period. The company's full-year 2025 revenue growth projection was explicitly attributed to a strong backlog and these multi-year contracts.

High-touch, consultative sales and post-sales support for complex deployments

The nature of the deployments-AI-driven assurance for 5G networks-demands a high-touch, consultative approach. The results show this strategy is working, with management stating they are gaining strong traction across key accounts, driven by differentiated technology, including new agentic AI capabilities. The deployment with new customer 1Global, which supports over 43 million connections across Europe, North America, and Asia, is a clear example of a complex, high-value engagement. Post-sales support is critical here to ensure the operator can achieve new levels of automation and efficiency across their fully virtualized cloud-native network, as seen with Rakuten Mobile in Japan.

Strategic engagement to co-develop customer-centric network solutions

RADCOM Ltd. embeds its technology within the customer's evolving network strategy. This is supported by advancing strategic partnerships, such as those with Nvidia and ServiceNow, to enhance real-time customer-level insights and automated business processes. The focus on solutions that lower total cost of ownership and enable comprehensive observability across customer networks is a co-development outcome, providing clear value in the shift to 5G stand-alone networks and AIOps (AI Operations).

Self-service monitoring capabilities for enterprise customers via multi-tenancy

While specific data on multi-tenancy usage metrics isn't public, the architecture of the RADCOM Network Intelligence suite, which offers intelligent, container-based, on-demand solutions, supports scalable, multi-tenant delivery for operators. The launch of the High-Capacity User Analytics solution, capturing network data at speeds up to 400Gbps on a single server, speaks to the efficiency and scalability that underpins a self-service or highly automated monitoring capability for large enterprise customers.

Focus on deepening deployments and expansion within existing customer base

The company explicitly states its focus on the land and expand strategy. This is a key driver for their financial performance, as management noted a focus on expanding within our current installed base heading into the fourth quarter of 2025. This is quantified by securing a business expansion with one of our existing customers in Q3 2025. The continued reliance by Rakuten Mobile, which has surpassed 9 million subscribers in Japan, on RADCOM's assurance solution as they expand their 5G footprint, demonstrates this successful expansion within an existing account.

Here's a quick look at the financial results that validate the strength of these customer relationships through the first nine months of 2025:

Metric	Value (As of Late 2025)	Context/Period
Total Revenues (TTM)	$68.9 Million USD	Trailing Twelve Months (TTM)
Total Revenues	$52.6 Million	First Nine Months of 2025
Q3 2025 Revenue	$18.4 Million	Third Quarter of 2025
Full-Year 2025 Revenue Guidance (Midpoint)	$71.1 Million	Reaffirmed for Full Year 2025
New Customer Connections Supported	43 Million connections	For new customer 1Global deployment
Contract Value Type (Renewal/Expansion)	Eight figures	Multi-year renewal in Q1 2025

The focus on existing customers is also reflected in the overall financial health, where the company ended Q3 2025 with cash and cash equivalents and short-term bank deposits of $106.7 million and no debt. This strong balance sheet, built on consistent revenue growth, is a direct result of securing and expanding these high-value, long-term relationships.

Finance: draft 13-week cash view by Friday.

RADCOM Ltd. (RDCM) - Canvas Business Model: Channels

You're looking at how RADCOM Ltd. gets its solutions-like the RADCOM ACE platform-into the hands of Communication Service Providers (CSPs) as of late 2025. The channel strategy is clearly multi-pronged, focusing on direct engagement, deep tech alliances, and ecosystem leverage.

The direct sales force targets both the largest players and the growing mid-market. This is evidenced by the recent renewal and expansion of a multi-year, eight-figure contract with a tier-one customer in North America, announced in the first quarter of 2025. Furthermore, the strategy explicitly includes productizing RADCOM ACE into scalable packages to penetrate mid-tier operators, alongside securing new logos like 1Global in the third quarter of 2025.

The financial results for the first nine months of 2025 show this channel execution is driving top-line growth:

Metric	Value as of Q3 2025 (9 Months)	Value for Q3 2025 (Single Quarter)
Total Revenues	$52.6 million	$18.4 million
Year-over-Year Revenue Growth	17.6%	16.2%
GAAP Operating Income	$5.6 million	$2.4 million
Non-GAAP Operating Income	$19.2 million (Implied from 19.2% of TTM revenue, but using Q3 specific: $3.8 million)	$3.8 million (or 20.9% of revenue)
Sales and Marketing Expenses	Not explicitly stated for 9 months	$4.6 million

Strategic technology partnerships are crucial for expanding capability and reach. RADCOM Ltd. is deepening its collaboration with NVIDIA and ServiceNow. The integration of RADCOM RAN Analytics Solution with ServiceNow is now certified and available as a connector in the ServiceNow platform, designed to automate complaint resolution. The work with NVIDIA, focusing on high-capacity data capture using the BlueField-3 DPU, is in the lab-testing phase with selected customers, with initial revenue contributions anticipated in 2026.

The focus on System Integrators (SIs) is about enabling large-scale deployments. RADCOM Ltd. is actively deepening its strategic partnership with System Integrators to strengthen market reach, as noted in the third quarter 2025 performance review. Specific financial contributions from this channel are not detailed.

Deployment models are shifting toward cloud flexibility. The company's solutions are designed to be cloud-agnostic, supporting SaaS deployment models. While specific revenue from public cloud marketplaces isn't itemized, the overall strategy supports this model.

Industry visibility is maintained through key engagements. RADCOM Ltd. participated in MWC 2025 and had a planned 1x1 presence at the Needham Technology Week on November 20, 2025. This activity supports the pipeline conversion mentioned by management.

• Targeting Tier 1 and mid-tier CSPs.
• Secured a multi-year, eight-figure contract renewal with a North American tier-one customer in Q1 2025.
• ServiceNow integration is certified and available as a connector.
• NVIDIA collaboration anticipates initial revenue in 2026.
• Full-year 2025 revenue guidance reaffirmed at a midpoint of $71.1 million.

Finance: review Q4 2025 Sales & Marketing spend against pipeline conversion rate by Friday.

RADCOM Ltd. (RDCM) - Canvas Business Model: Customer Segments

You're looking at the core of RADCOM Ltd.'s business right now, which is squarely focused on the telecom giants that are building out next-generation networks. As a seasoned analyst, I see their customer base as the engine driving their reaffirmed full-year 2025 revenue guidance, which targets growth between 15% and 18% year-over-year, with a midpoint estimate of $71.1 million in total revenue.

The company's primary focus remains on the largest players in the space, but they are actively segmenting their approach to capture growth from smaller and specialized deployments.

Tier 1 Mobile Network Operators (MNOs) globally (core customer base)

This group represents the established, deep-pocketed customers where RADCOM Ltd. has historically secured its largest contracts. The company explicitly states its main focus is on Tier-1 CSPs transitioning to 5G. You can see this commitment in their recent wins; for instance, they secured a multi-year contract with Norlys (Telia Denmark), expanding their European footprint. While the exact number of Tier 1 MNOs using their solution isn't public, the revenue scale-TTM revenue as of September 30, 2025, was $68.9 million-suggests significant deployments within this tier.

Mid-tier mobile operators targeted for scalable, productized solutions

RADCOM Ltd. is strategically shifting to productize its 5G assurance solution, RADCOM ACE, into scalable packages specifically to address the needs of mid-tier operators. This is a clear move to broaden the customer base beyond the few largest global players. The overall market for Automated Assurance is estimated at $2.4 billion in global revenue, and capturing a larger share of the mid-tier is key to accessing that total addressable market. The recent win of 1Global, which spans Europe, North America, and Asia, is a strong indicator of success in reaching operators with diverse geographic needs.

Communication Service Providers (CSPs) deploying 5G standalone (SA) networks

The transition to 5G Standalone (SA) is a major driver for RADCOM Ltd.'s demand, as SA networks require new, cloud-native assurance solutions like RADCOM ACE. The industry context shows this is a growing segment: as of June 2025, there were 173 operators across 70 countries invested in 5G SA (trials, deployments, or roadmaps), which accounted for 27.1 percent of all operators investing in 5G. Furthermore, there were 77 live 5G SA networks globally by June 2025, all needing real-time, automated assurance. The 1Global customer win supports over 43 million connections, demonstrating the scale of the 5G assurance work being done.

Enterprises and governments deploying private 5G networks

While RADCOM Ltd.'s primary revenue comes from CSPs, the underlying technology is relevant here. The low-latency and high-reliability of 5G SA are set to power enterprise digital transformation. The company offers an Enterprise Analytics solution, which directly targets this segment. Specific financial data or contract numbers tied directly to enterprise or government private 5G deployments are not explicitly detailed in the latest financial releases, but the market trend shows growth in this area.

Operators focused on network automation and AIOps adoption

This segment is defined by the need to reduce operational expenditure (OPEX) and deploy new services efficiently, which requires automation. RADCOM Ltd.'s solutions are explicitly AI-driven and focused on automation, with product names like RAN AIOps and Mobile Core AIOps listed in their portfolio. The company's Q3 2025 results highlighted their highest operating margins since 2018, which is a direct result of delivering value in lowering the Total Cost of Ownership for customers through AI-driven assurance. The focus on agentic AI capabilities is a key differentiator driving traction across key accounts.

Here's a snapshot of the customer-relevant scale and market context as of late 2025:

Metric	Value/Data Point	Date/Period	Source Context
RADCOM Ltd. TTM Revenue	$68.9 million	As of September 30, 2025
RADCOM Ltd. Q3 2025 Revenue	$18.4 million	Q3 2025
New Customer Secured (1Global) Connections Supported	Over 43 million connections	Secured in Q3 2025
Global 5G SA Live Networks	77	As of June 2025
Operators Invested in 5G SA (Trials/Deployments/Roadmaps)	173 operators across 70 countries	As of June 2025
Automated Assurance Market Size	$2.4 billion in global revenue	General Market Data

The new customer 1Global spans operations across Europe, North America, and Asia, showing the geographic reach of the customer segments being served. You can see the company is executing on its strategy by converting its pipeline into revenue across these operator tiers.

RADCOM Ltd. (RDCM) - Canvas Business Model: Cost Structure

You're looking at the cost side of RADCOM Ltd. (RDCM)'s business model as of late 2025. The structure clearly shows a company prioritizing future growth and technology leadership through heavy investment in its core intellectual property, while maintaining tight control over operational profitability. This focus allows them to hit high margin targets even while scaling up spending in key areas.

High investment in Research and Development (R&D) for AI/GenAI innovation is a defining feature of the cost structure. This spending fuels the development of their next-generation assurance platform, RADCOM ACE, with a clear emphasis on agentic AI capabilities and multi-model workflows to address the evolving needs of AI native networks. For the third quarter of 2025, net Research and Development expenses were reported at $4.5 million. This investment is strategic, designed to maintain a competitive edge in real-time assurance. The company also noted that non-GAAP gross R&D expenses for Q3 2025 were $4.7 million, up 11.6% year-over-year, reflecting this deepening focus on innovation and portfolio expansion.

The cost associated with this innovation translates directly into Salaries and benefits for highly skilled engineering and R&D personnel. While specific salary line items aren't broken out, the total R&D spend is the clearest proxy for this high-value human capital cost. The company ended Q3 2025 with 319 employees, a significant portion of whom are dedicated to engineering and development roles necessary to support the advanced AI features that drive new contract wins, such as the recent renewal of an eight-figure contract with a tier-one North American customer.

To capture market share, Sales and Marketing (S&M) expenses for global market expansion are intentionally increasing. This is a necessary cost to support a growing pipeline and expand presence in high-value regions. Sales and marketing expenses for the third quarter of 2025 were $4.6 million, representing an increase of 15.4% compared to the third quarter of 2024. This intentional spending is expected to see a gradual increase in coming quarters to further support market penetration. For the first quarter of 2025, S&M spend was $4.864 million.

The Cost of goods sold (COGS) is primarily related to software licensing and services, which directly impacts the Gross Margin. RADCOM Ltd. (RDCM) reported a strong gross margin in Q3 2025 of just over 77%. This strong margin reflects a more favorable revenue mix with a lower proportion of third-party cost elements, meaning the cost of revenue as a percentage of total revenue is relatively low, which is typical for a high-value software-centric business. The company believes this level of gross margin will be sustained in the fourth quarter.

Crucially, Operational expenses are managed to maintain a non-GAAP operating margin near 20%. The execution on this has been excellent. For the third quarter of 2025, the non-GAAP operating margin hit a record high of 20.9%, with non-GAAP operating income reaching $3.8 million on $18.4 million in revenue. This performance aligns with the target and shows strong scalability. Looking at the first nine months of 2025, the non-GAAP operating margin was 19.8%. This discipline in managing operating expenses, even while increasing S&M spend, is what drives the high profitability metrics.

Here's a quick look at the key expense components and profitability metrics for the most recently reported quarter, Q3 2025, in millions of USD:

Cost/Metric Category	Q3 2025 Amount (Millions USD)	YoY Change Reference
Total Revenue	$18.4	Up 16.2% YoY
Net R&D Expense	$4.5	Increase of $483,000 vs Q3 2024
Sales and Marketing Expense	$4.6	Increase of 15.4% vs Q3 2024
Gross Margin	Over 77%	Sustained level expected
Non-GAAP Operating Income	$3.8	Record high
Non-GAAP Operating Margin	20.9%	Highest since 2017

The management team is clearly balancing growth investment with profitability targets. You can see the operational leverage in the margin expansion, which is a direct result of keeping the cost base disciplined relative to revenue growth. The focus on AI/GenAI is the primary driver for the R&D cost, which is a necessary input for securing those multi-year, eight-figure contracts.

• Strategic partnerships with Nvidia and ServiceNow support the AI-driven R&D spend.
• The company ended Q3 2025 with $106.7 million in cash and no debt.
• Full-year 2025 revenue growth outlook was raised to 15% to 18% year-over-year.
• Non-GAAP operating income for the first nine months of 2025 reached $10.4 million, representing 19.8% of revenue.

Finance: draft 13-week cash view by Friday.

RADCOM Ltd. (RDCM) - Canvas Business Model: Revenue Streams

The revenue streams for RADCOM Ltd. (RDCM) are fundamentally tied to the delivery and ongoing utilization of its advanced, intelligent assurance solutions, primarily RADCOM ACE, which leverages AI and GenAI capabilities for network observability.

The core revenue generation model centers on securing initial deployment revenue followed by predictable, long-term recurring income streams. Management has reaffirmed its full-year 2025 guidance, anticipating year-over-year revenue growth of 15% to 18%, implying a midpoint revenue expectation of $71.1 million for the full year 2025.

The revenue mix in Q3 2025 was favorable, contributing to a strong gross margin of just over 77% in that quarter. This margin level is expected to be sustained into the fourth quarter.

You see the primary revenue components structured as follows:

• Software license fees and subscription revenue from multi-year contracts, which drive the high gross margin profile.
• Professional services revenue for deployment, integration, and customization of the assurance solutions.
• Recurring revenue from maintenance and support agreements, ensuring ongoing customer engagement and predictable income.

Here's a quick look at the recent top-line performance and profitability metrics that frame these revenue streams:

Metric	Value (Q3 2025)	Value (First Nine Months 2025)
Total Revenue	$18.4 million	$52.6 million
Year-over-Year Revenue Growth	16.2%	17.6%
Gross Margin	Just over 77%	N/A

The strong revenue growth is being fueled by market demand for intelligent assurance solutions, evidenced by securing new customers like 1Global and launching advanced products like the High-Capacity User Analytics solution.

The nature of the revenue is shifting toward higher-margin components, as noted by management:

• The gross margin improvement reflects a more favorable revenue mix.
• This favorable mix includes a lower proportion of third-party cost elements.
• The company is focused on converting its robust pipeline into revenue.

The initial revenue from new customer wins, such as the deployment with 1Global across Europe, North America, and Asia supporting over 43 million connections, would initially involve significant professional services for deployment and integration, before settling into the recurring maintenance and subscription phases.