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RADCOM Zooms Into 2011: Record Bookings, $5.4M Revenues & $0.08 non-GAAP EPS for Q4

TEL-AVIV, Israel February 1, 2011 December 31, 2010

     Financial Overview      In $000s                       2010     2009   Change      Revenues                    $19,173  $11,918      61%     Net Income (loss) (GAAP)       $570  $(2,649)     Net Income (loss) (non-GAAP) $1,658  $(2,162)     Working Capital             $11,144   $2,972     275%  

$5.4 million $4.2 million

$78,000 $0.01 $102,000 $0.02 $500,000 $0.08 $245,000 $0.05

$19.2 million $11.9 million

$570,000 $0.11 $0.10 $2.6 million $0.52 $1.7 million $0.28 $2.2 million $0.43

Management Comments

David Ripstein

Latin America Asia/Pacific India Singapore North America

"Taken as a whole, with booming markets, a clear technology advantage, and the highest quarterly bookings in our history, we are confident and excited about our future."

Additional Discussion of Financial Results

Brazil Brazil $785,000

$5.7 million Brazil

Latin America Europe North America

About RADCOM

http://www.RADCOM.com

Non-GAAP Information

Certain non-GAAP financial measures are included in this press release. These non-GAAP financial measures are provided to enhance the reader’s overall understanding of our financial performance. By excluding non-cash equity based compensation that has been expensed in accordance with ASC Topic 718 and change in fair value of warrants that has been expensed in accordance with ASC 815-40, our non-GAAP results provide information to both management and investors that is useful in assessing our core operating performance and in evaluating and comparing our results of operations on a consistent basis from period to period. These non-GAAP financial measures are also used by management to evaluate financial results and to plan and forecast future periods. The presentation of this additional information is not meant to be considered a substitute for the corresponding financial measures prepared in accordance with GAAP.

Risks Regarding Forward-Looking Statements

Certain statements made herein that use the words "estimate," "project," "intend," "expect," "’believe" and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in the demand for the Company’s products, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company’s business, reference is made to the Company’s reports filed from time to time with the United States Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason.

                                RADCOM Ltd.                   Consolidated Statements of Operations              (1000's of U.S. dollars, except per share data)                           Three months ended         Twelve months ended                             December 31,             December 31,                            2010        2009        2010        2009                      (unaudited) (unaudited)  (unaudited) (unaudited)      Sales               $ 5,363     $ 4,177    $ 19,173    $ 11,918     Cost of sales         1,901       1,172       6,486       4,059     Gross profit          3,462       3,005      12,687       7,859     Research and     development, gross    1,111       1,067       4,310       4,223     Less - royalty-     bearing participation   283         368       1,424       1,633     Research and     development, net        828         699       2,886       2,590     Sales and     marketing             2,048       1,523       6,971       5,835     General and     administrative (1)      547         398       1,538       1,643     Total operating     expenses              3,423       2,620      11,395      10,068     Operating income     (loss)                   39         385       1,292      (2,209)     Financing income     (loss), net              39        (283)       (722)       (440)      Net income (loss)        78         102         570      (2,649)     Basic net income     (loss) per ordinary     share                $ 0.01      $ 0.02      $ 0.11     $ (0.52)     Diluted net income     (loss) per     ordinary share       $ 0.01      $ 0.02      $ 0.10     $ (0.52)     Weighted average     number of ordinary     shares used in     computing basic net     income (loss) per     ordinary share    6,049,678   5,083,641   5,373,515   5,081,986     Weighted average     number of ordinary     shares used in     computing diluted     net income (loss)     per ordinary     share             6,592,961   5,275,328   5,829,665   5,081,986  

$269,000 December 31, 2010 $595,000 December 31, 2010

                                     RADCOM Ltd.             RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION             (1000's of U.S. dollars, except share and per share data)                          Three Months Ended             Twelve Months Ended                           December 31,                     December 31,                           2010            2009         2010            2009                     (unaudited)     (unaudited)  (unaudited)     (unaudited)      GAAP net     income (loss)          $78            $102         $570         $(2,649)     Stock-based     compensation     (1)                    422              35          564             272     Change in fair     value of     warrants                 -             108          524             215     Non-GAAP net     income (loss)         $500            $245       $1,658         $(2,162)     Non-GAAP     earnings     (losses) per     share     (diluted)            $0.08           $0.05        $0.28          $(0.43)      Number of     shares used in     computing     Non-GAAP     earnings     (losses) per     share     (diluted)        6,592,961       5,275,328    5,829,665       5,081,986      (1)     Stock-based     compensation:     Cost of sales            1               3            5              16     Research and     development              2               2           10              53     Selling and     marketing                4               5           36              86     General and     administrative         415              25          513             117                            422              35          564             272                                       RADCOM Ltd.                            Consolidated Balance Sheets                             (1000's of U.S. dollars)                                                  As of            As of                                               December 31,     December 31,                                                        2010             2009                                                 (unaudited)      (unaudited)      Current Assets     Cash and cash equivalents                        5,744            3,274     Trade receivables, net                           7,402            3,610     Inventories                                      3,949            2,879     Other receivables                                1,708              607     Total Current Assets                            18,803           10,370     Severance pay fund                               2,796            2,495     Property and equipment, net                        338              575     Total Assets                                    21,937           13,440      Liabilities and Shareholders' Equity     Current Liabilities     Trade payables                                   2,759            1,117     Deferred revenue                                   451              478     Current maturities of long-term loan                 -            1,022     Other payables and accrued expenses              4,449            4,781     Total Current Liabilities                        7,659            7,398     Long-Term Liabilities     Deferred revenue                                   221               85     Long term loan, net of current maturities            -              170     Warrants related to long term loan                   -              248     Accrued severance pay                            3,154            2,899     Total Long-Term Liabilities                      3,375            3,402      Total Liabilities                               11,034           10,800      Shareholders' Equity     Share capital                                      234              177     Additional paid-in capital                      59,180           51,544     Accumulated deficit                            (48,511)         (49,081)     Total Shareholders' Equity                      10,903            2,640      Total Liabilities and Shareholders'     Equity                                          21,937           13,440        Contact:     Jonathan Burgin     CFO     +972-77-774-5060     [email protected]  

SOURCE RADCOM Ltd

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