Radcom's revenues in the first quarter rose by 36% and totaled $ 10.9 million

Radcom's revenues in the first quarter of 2018 totaled $ 10.9 million. This represents an increase of 36% over the same period last year. GAAP net income was $ 0.3 million, compared with a GAAP loss of $ 0.3 million in the first quarter of 2017. Non-GAAP net income was $ 1 million, compared with $ 300,000 in the first quarter of last year.
Results for the first quarter do not include grants from the Authority for Innovation to participate in research and development costs because no such grants were received during these quarters.
The company has cash in cash of $ 74.5 million.
"The strong results in the quarter stemmed from successful performance in the number of installations for existing and new customers, which led to our continued strong growth," said Yaron Rivkai, CEO. We expect to finalize agreements with additional suppliers in the coming months. With a healthy pipeline of sales opportunities and continued positive momentum, we are confirming our revenue forecast for 2018 in the range of $ 43-47 million. "