PR Newswire
Strong demand in India drives 14% year-over-year revenue growth
ROSH HA’AIN, Israel, Aug. 11, 2026 /PRNewswire/ — Ceragon (NASDAQ: CRNT), a leading solutions provider of end-to-end wireless connectivity, today reported its financial results for the second quarter period ended June 30, 2026.
Q2 2026 Financial Highlights:
- Revenues of $93.9 million
- GAAP Operating income of $0.2 million, non-GAAP operating income of $4.0 million
- GAAP Net loss of $2.1 million, non-GAAP net income of $1.7 million
- GAAP EPS of ($0.02) per diluted share, non-GAAP EPS of $0.02 per diluted share
Q2 2026 Business Highlights:
- India – Sequentially higher revenue and strong bookings (approximately $120 million in announced year-to-date bookings in July) have increased visibility for the remainder of 2026; notable interest in E-band solutions
- North America – Demand remained robust with record quarterly bookings in private networks
CEO Doron Arazi commented: “Our second quarter reflects the benefits of the strategy we’ve been executing over the past several years. Demand remains healthy across multiple end markets, and we’re seeing momentum from both our traditional carrier business and newer growth areas such as private networks and managed services. Just as importantly, the quality of our opportunities and customer engagement, gives us confidence in the outlook for the balance of the year, as described below.”
“Customer demand remains healthy, and our competitive position continues to improve, despite near-term industry-wide cost and supply chain pressures,” continued Mr. Arazi. “Our E-band solutions are generating particular interest from customers and represent a strong competitive differentiator. Our recent field trial success with our 5G FR2 (mmWave) product for a new Tier 1 North American carrier points to our continued innovation that drives increased demand for our technology. Strong bookings and growing interest from new and existing customers reinforce our confidence in Ceragon’s technology, innovation roadmap, and long-term growth prospects.”
Primary Second Quarter 2026 Financial Results:
Revenues were $93.9 million, up 14.2% from $82.3 million in Q2 2025.
Gross profit was $29.7 million, or a gross margin of 31.7%, compared to gross margin of 34.6% in Q2 2025.
GAAP Operating income was $0.2 million compared with $2.2 million for Q2 2025.
GAAP Net income (loss) was ($2.1) million, or ($0.02) per diluted share, compared with ($1.3) million, or ($0.01) per diluted share for Q2 2025.
Non-GAAP results were as follows: Gross margin was 32.2%, operating profit was $4.0 million, and net income was $1.7 million, or $0.02 per diluted share.
Balance Sheet
Cash and cash equivalents were $34.8 million on June 30, 2026, compared to $38.4 million on December 31, 2025.
For a reconciliation of GAAP to non-GAAP results, see the attached tables.
Revenue Breakout by Geography:
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India |
48 % |
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North America |
22 % |
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EMEA |
13 % |
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Latin America |
9 % |
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APAC |
8 % |
Outlook
Management updated its 2026 outlook as follows:
- Revenue of $355 million to $385 million
- Non-GAAP gross margin is expected to be between 33.5% – 34.5% vs. 35.5% previously at the midpoint of the provided revenue guidance range
- Non-GAAP operating margin is expected to be between 5% – 6% vs. 6.5% – 7.5% previously at the midpoint of the provided revenue guidance range.
Conference Call
The Company will hold a Zoom webcast today at 8:30 a.m. ET to review the results, followed by a Q&A session.
Investors are invited to register by clicking here. All relevant access details will be provided upon registration.
For investors unable to join the live call, a replay will be available on the Company’s website at www.ceragon.com
About Ceragon
Ceragon (NASDAQ: CRNT) is the global innovator and leading solutions provider of end-to-end wireless connectivity, specializing in transport, access, and AI-powered managed & professional services. Through our commitment to excellence, we empower customers to elevate operational efficiency and enrich the quality of experience for their end users.
Our customers include service providers, utilities, public safety organizations, government agencies, energy companies, and more who rely on our wireless expertise and cutting-edge solutions for 5G & 4G broadband wireless connectivity, mission-critical services, and an array of applications that harness our ultra-high reliability and speed. Ceragon solutions are deployed by more than 600 service providers, as well as more than 1,600 private network owners, in more than 130 countries. Through our innovative, end-to-end solutions, covering hardware, software, and managed & professional services, we enable our customers to embrace the future of wireless technology with confidence, shaping the next generation of connectivity and service delivery. Ceragon delivers extremely reliable, fast-to-deploy, high-capacity wireless solutions for a wide range of communication network use cases, optimized to lower TCO through minimal use of spectrum, power, real estate, and labor resources – driving simple, quick, and cost-effective network modernization and positioning Ceragon as a leading solutions provider for the “connectivity everywhere” era.
For more information please visit: www.ceragon.com
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON ® is a trademark of Ceragon, registered in various countries. Other names mentioned are owned by their respective holders.
Safe Harbor
This press release contains statements that constitute “forward-looking statements” within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon’s management about Ceragon’s business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include, but are not limited to, statements regarding: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, supply chain and shipping, components availability; growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as “may”, “plans”, “anticipates”, “believes”, “estimates”, “targets”, “expects”, “intends”, “potential” or the negative of such terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.
Although we believe that the projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations there from will not be material. Such forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon’s future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to:
Company’s forward-looking forecasts, with respect to which there is no assurance that such forecasts will materialize; Company’s ability to future plan, business, marketing and product strategies on the forecasted evolution of the market developments, such as market and territory trends, future use cases, business concepts, technologies, future demand, and necessary inventory levels; the effects of fluctuations in currency exchange rates between the currencies in which we operate; risks relating to the conversion of the orders from customers into revenues;
the effects of global economic trends, including recession, rising inflation, rising interest rates, commodity price increases and fluctuations, commodity shortages and exposure to economic slowdown;
risks related to conditions in Israel and the continuation of hostilities in the Middle East;
risks associated with delays in the transition to 5G technologies and in the 5G rollout; risks relating to the concentration of our business on a limited number of large mobile operators and the fact that the significant weight of their ordering, compared to the overall ordering by other customers, coupled with inconsistent ordering patterns, could negatively affect us; risks resulting from the volatility in our revenues, margins and working capital needs; disagreements with tax authorities regarding tax positions that we have taken could result in increased tax liabilities; the high volatility in the supply needs of our customers, which from time to time lead to delivery issues and may lead to us being unable to timely fulfil our customer commitments; and such other risks, uncertainties and other factors that could affect our results of operations, as further detailed in Ceragon’s most recent Annual Report on Form 20-F, as published on April 15, 2026, as well as other documents that may be subsequently filed by Ceragon from time to time with the Securities and Exchange Commission.
We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Ceragon does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.
While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections on the future, about which we cannot be certain. In addition, any forward-looking statements represent Ceragon’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Ceragon does not assume any obligation to update any forward-looking statements unless required by law.
The results reported in this press-release are preliminary and unaudited results, and investors should be aware of possible discrepancies between these results and the audited results to be reported, due to various factors
.
Ceragon’s public filings are available on the Securities and Exchange Commission’s website at
www.sec.gov
and may also be obtained from Ceragon’s website at
www.ceragon.com
.
Investor Contact:
Rob Fink
FNK IR
Tel. +1-646-809-4048
[email protected]
Joey Delahoussaye
FNK IR
Tel. +1-312-809-1087
[email protected]
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Revenues |
93,914 |
82,262 |
178,917 |
170,914 |
|||||
|
Cost of revenues |
64,187 |
53,822 |
119,114 |
113,375 |
|||||
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Gross profit |
29,727 |
28,440 |
59,803 |
57,539 |
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Operating expenses: |
|||||||||
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Research and development, net |
8,405 |
7,332 |
16,346 |
15,581 |
|||||
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Sales and Marketing |
12,909 |
11,722 |
26,899 |
24,019 |
|||||
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General and administrative |
6,823 |
6,940 |
12,343 |
12,376 |
|||||
|
Restructuring and related charges |
1,120 |
– |
1,660 |
3,732 |
|||||
|
Acquisition- and integration-related charges |
233 |
229 |
233 |
704 |
|||||
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Total operating expenses |
29,490 |
26,223 |
57,481 |
56,412 |
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Operating income |
237 |
2,217 |
2,322 |
1,127 |
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Financial and other expenses, net |
1,663 |
2,896 |
4,519 |
1,906 |
|||||
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Income (loss) before taxes |
(1,426) |
(679) |
(2,197) |
(779) |
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Taxes on income |
665 |
588 |
1,237 |
1,468 |
|||||
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Net income (loss) |
(2,091) |
(1,267) |
(3,434) |
(2,247) |
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Basic net income (loss) per share |
(0.02) |
(0.01) |
(0.04) |
(0.03) |
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Diluted net income (loss) per share |
(0.02) |
(0.01) |
(0.04) |
(0.03) |
|||||
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Weighted average number of shares used in |
91,033,749 |
89,470,719 |
90,872,376 |
89,108,772 |
|||||
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Weighted average number of shares used in |
91,033,749 |
89,470,719 |
90,872,376 |
89,108,77 |
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Cash and cash equivalents |
34,771 |
38,368 |
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Trade receivables, net |
101,283 |
99,673 |
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Inventories |
59,459 |
61,587 |
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Other accounts receivable and prepaid expenses |
24,564 |
25,576 |
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220,077 |
225,204 |
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Severance pay and pension fund |
430 |
362 |
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Property and equipment, net |
41,065 |
39,952 |
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Operating lease right-of-use assets |
16,003 |
16,554 |
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Intangible assets, net |
24,525 |
23,182 |
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Goodwill |
11,007 |
11,007 |
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Other non-current assets |
669 |
781 |
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93,699 |
91,838 |
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313,776 |
317,042 |
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Trade payables |
74,173 |
70,784 |
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Deferred revenues |
1,300 |
2,371 |
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Short-term loans |
12,004 |
19,000 |
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Operating lease liabilities |
4,061 |
4,001 |
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Other accounts payable and accrued expenses |
27,251 |
24,071 |
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118,789 |
120,227 |
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Accrued severance pay and pension |
2,557 |
2,537 |
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Operating lease liabilities |
12,715 |
13,331 |
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Other long-term payables |
7,665 |
8,195 |
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22,937 |
24,063 |
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Share capital |
234 |
234 |
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Additional paid-in capital |
457,690 |
454,640 |
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Treasury shares at cost |
(20,091) |
(20,091) |
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Accumulated other comprehensive loss |
(9,134) |
(8,816) |
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Accumulated deficit |
(256,649) |
(253,215) |
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|
172,050 |
172,752 |
|
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|
313,776 |
317,042 |
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Net income (loss) |
(2,091) |
(1,267) |
(3,434) |
(2,247) |
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Adjustments to reconcile net income (loss) to net |
|||||||
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Depreciation and amortization |
3,471 |
3,632 |
6,905 |
6,964 |
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Loss from sale of property and equipment, net |
52 |
– |
122 |
10 |
|||
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Stock-based compensation expense |
1,755 |
1,549 |
2,647 |
2,199 |
|||
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Decrease (increase) in accrued severance pay and |
(85) |
30 |
(48) |
77 |
|||
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Decrease (increase) in trade receivables, net |
(6,838) |
21,778 |
(1,537) |
28,162 |
|||
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Decrease (increase) in other assets (including other |
(461) |
(1,179) |
755 |
(2,319) |
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Decrease (increase) in inventory |
(2,269) |
2,206 |
1,561 |
127 |
|||
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Decrease in operating lease right-of-use assets |
1,182 |
1,323 |
2,135 |
2,054 |
|||
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Increase (decrease) in trade payables |
9,255 |
(13,961) |
3,081 |
(18,045) |
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Increase (decrease) in other accounts payable and |
3,666 |
(3,285) |
2,620 |
(2,531) |
|||
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Decrease in operating lease liability |
(1,161) |
(90) |
(2,140) |
(915) |
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Increase (decrease) in deferred revenues |
(1,410) |
26 |
(1,071) |
(164) |
|||
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Purchases of property and equipment |
(3,322) |
(3,957) |
(5,597) |
(7,426) |
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Software development costs capitalized |
(1,451) |
(1,173) |
(2,921) |
(1,711) |
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Payments made in connection with business |
– |
– |
– |
(6,570) |
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Proceeds from exercise of stock options |
267 |
143 |
276 |
651 |
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Repayments of bank credits and loans, net |
(5,096) |
(4,700) |
(6,996) |
(4,700) |
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|||
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|||
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Cash and cash equivalents at the beginning of the |
39,164 |
27,688 |
38,368 |
35,311 |
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GAAP cost of revenues |
64,187 |
53,822 |
119,114 |
113,375 |
|||
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Stock-based compensation expenses |
(108) |
(81) |
(239) |
(189) |
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Amortization of acquired intangible assets |
(422) |
(451) |
(844) |
(956) |
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Non-GAAP cost of revenues |
63,657 |
53,290 |
118,031 |
112,230 |
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GAAP gross profit |
29,727 |
28,440 |
59,803 |
57,539 |
|||
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Stock-based compensation expenses |
108 |
81 |
239 |
189 |
|||
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Amortization of acquired intangible assets |
422 |
451 |
844 |
956 |
|||
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Non-GAAP gross profit |
30,257 |
28,972 |
60,886 |
58,684 |
|||
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GAAP Research and development expenses |
8,405 |
7,332 |
16,346 |
15,581 |
|||
|
Stock-based compensation expenses |
(217) |
(123) |
(408) |
(278) |
|||
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Non-GAAP Research and development expenses |
8,188 |
7,209 |
15,938 |
15,303 |
|||
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GAAP Sales and marketing expenses |
12,909 |
11,722 |
26,899 |
24,019 |
|||
|
Stock-based compensation expenses |
(350) |
(330) |
(690) |
(640) |
|||
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Amortization of acquired intangible assets |
(220) |
(275) |
(440) |
(497) |
|||
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Non-GAAP Sales and marketing expenses |
12,339 |
11,117 |
25,769 |
22,882 |
|||
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GAAP General and administrative expenses |
6,823 |
6,940 |
12,343 |
12,376 |
|||
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Stock-based compensation expenses |
(1,080) |
(1,015) |
(1,310) |
(1,092) |
|||
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Non-GAAP General and administrative expenses |
5,743 |
5,925 |
11,033 |
11,284 |
|||
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GAAP Restructuring and related charges |
1,120 |
– |
1,660 |
3,732 |
|||
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Restructuring and related charges |
(1,120) |
– |
(1,660) |
(3,732) |
|||
|
Non-GAAP Restructuring and related charges |
– |
– |
– |
– |
|||
|
GAAP Acquisition- and integration-related charges |
233 |
229 |
233 |
704 |
|||
|
Acquisition- and integration-related charges |
(233) |
(229) |
(233) |
(704) |
|||
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Non-GAAP Acquisition- and integration-related charges |
– |
– |
– |
– |
|||
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|||||||
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|||||||
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||||||
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||||
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GAAP Operating income |
237 |
2,217 |
2,322 |
1,127 |
|||
|
Stock-based compensation expenses |
1,755 |
1,549 |
2,647 |
2,199 |
|||
|
Amortization of acquired intangible assets |
642 |
726 |
1,284 |
1,453 |
|||
|
Restructuring and related charges |
1,120 |
– |
1,660 |
3,732 |
|||
|
Acquisition- and integration-related charges |
233 |
229 |
233 |
704 |
|||
|
Non-GAAP Operating income |
3,987 |
4,721 |
8,146 |
9,215 |
|||
|
GAAP Financial and other expenses, net |
1,663 |
2,896 |
4,519 |
1,906 |
|||
|
Leases – financial income (expenses) |
(22) |
(1,233) |
4 |
(1,138) |
|||
|
Non-cash revaluation associated with business combination |
(28) |
16 |
(37) |
1,948 |
|||
|
Non-GAAP Financial and other expenses, net |
1,613 |
1,679 |
4,486 |
2,716 |
|||
|
GAAP Tax expenses |
665 |
588 |
1,237 |
1,468 |
|||
|
Non-GAAP Tax expenses |
665 |
588 |
1,237 |
1,468 |
|||
|
GAAP Net income (loss) |
(2,091) |
(1,267) |
(3,434) |
(2,247) |
|||
|
Stock-based compensation expenses |
1,755 |
1,549 |
2,647 |
2,199 |
|||
|
Amortization of acquired intangible assets |
642 |
726 |
1,284 |
1,453 |
|||
|
Restructuring and related charges |
1,120 |
– |
1,660 |
3,732 |
|||
|
Acquisition- and integration-related charges |
233 |
229 |
233 |
704 |
|||
|
Leases – financial expenses (income) |
22 |
1,233 |
(4) |
1,138 |
|||
|
Non-cash revaluation associated with business combination |
28 |
(16) |
37 |
(1,948) |
|||
|
Non-GAAP Net income |
1,709 |
2,454 |
2,423 |
5,031 |
|||
|
GAAP basic net income (loss) per share |
(0.02) |
(0.01) |
(0.04) |
(0.03) |
|||
|
GAAP diluted net income (loss) per share |
(0.02) |
(0.01) |
(0.04) |
(0.03) |
|||
|
Non-GAAP Diluted net income per share |
0.02 |
0.03 |
0.03 |
0.06 |
|||
|
Weighted average number of shares used in |
91,033,749 |
89,470,719 |
90,872,376 |
89,108,772 |
|||
|
Weighted average number of shares used in |
91,033,749 |
89,470,719 |
90,872,376 |
89,108,772 |
|||
|
Weighted average number of shares used in |
93,529,521 |
91,245,422 |
93,120,527 |
91,381,985 |
|||
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SOURCE Ceragon Networks Ltd.
