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WKN: 941230 | ISIN: IL0010851660 | Ticker-Symbol: GGN
Tradegate
06.08.25 | 15:36
1,710 Euro
-12,76 % -0,250
Branche
Netzwerktechnik
Aktienmarkt
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1-Jahres-Chart
CERAGON NETWORKS LTD Chart 1 Jahr
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CERAGON NETWORKS LTD 5-Tage-Chart
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1,6701,71016:51
1,6701,71016:51
PR Newswire
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Ceragon Networks Ltd.: Ceragon Reports 2025 Second Quarter Financial Results

Delivers profitability on a non-GAAP basis and free cash flow amid evolving revenue environment;
Ceragon's technology leadership driving competitive gains and increased opportunities

ROSH HA'AIN, Israel, Aug. 6, 2025 /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, 2025.

Q2 2025 Financial Highlights:

  • Revenues of $82.3 million
  • Operating income of $2.2 million on a GAAP basis, or $4.7 million on a non-GAAP basis
  • Net income (loss) of ($1.3) million on a GAAP basis, and $2.5 million on a non-GAAP basis
  • EPS of ($0.01) per diluted share on a GAAP basis, or $0.03 per diluted share on a non-GAAP basis

Q2 2025 Business Highlights:

  • North America momentum: Bookings and revenue grew sequentially for the third consecutive quarter, exceeded $20 million, and were the highest since Q2 2024
  • Strategic customer win: Secured "preferred vendor" status in a project with a new tier-1 mobile network operator in North America, due to innovative solution based on leveraging Siklu's technology
  • Acquisition synergy: Recent acquisitions continued to deliver incremental opportunities and expanded capabilities across both private network and CSP markets

CEO Doron Arazi commented: "The second quarter demonstrated the resilience and agility we have built into our business. We delivered solid profitability on a non-GAAP basis, generated cash, reduced debt, and advanced our strategic roadmap even as we navigated rapidly evolving dynamics in India. We are leveraging differentiated technology which delivers valuable capabilities that we believe outpaces our competitors, and these advantages are translating into new opportunities and expanded use cases that support incremental revenue and potential market share gains globally."

"Momentum is building across North America and other regions, where our cutting-edge technology is opening doors with Tier-1 carriers and private network customers," Arazi continued.

Primary Second Quarter 2025 Financial Results:

Revenues were $82.3 million, down 14.4% from $96.1 million in Q2 2024.

Gross profit was $28.4 million, giving us a gross margin of 34.6%, compared to gross margin of 34.8% in Q2 2024.

GAAP Operating income was $2.2 million compared with $10.4 million for Q2 2024.

GAAP Net income (loss) was ($1.3) million, or ($0.01) per diluted share, compared with $7.8 million, or $0.09 per diluted share for Q2 2024.

Non-GAAP results were as follows: Gross margin was 35.2%, operating profit was $4.7 million, and net income of $2.5 million, or $0.03 per diluted share.

Balance Sheet

Cash and cash equivalents were $29.2 million on June 30, 2025, compared to $35.3 million on December 31, 2024.

For a reconciliation of GAAP to non-GAAP results, see the attached tables.

Revenue Breakout by Geography:


Q2 2025

North America

33 %

India

30 %

EMEA

17 %

Latin America

10 %

APAC

10 %

Outlook

The current visibility, especially in India, is impacting the Company's ability to reaffirm prior guidance. Based on management's current view, the Company assumes the following:

  • Revenue in the second half of 2025 to remain essentially consistent with first half levels
  • At these revenue levels, Ceragon anticipates generating non-GAAP profit and positive cash flow
  • Ceragon's momentum across field engagements, customer trials, and new opportunities, as well as a rebound of stalled and delayed projects in India, establish the foundation for renewed growth in 2026.

Conference Call

The Company will host a Zoom web conference today at 8:30 a.m. ET to discuss the financial results, followed by a question-and-answer session for the investment community.

Investors are invited to register by clicking here. All relevant information will be sent upon registration.

For investors unable to join the live call, a replay will be available on the Company's website at www.ceragon.com within 24 hours after the call.

About Ceragon

Ceragon (NASDAQ: CRNT) is a 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 global economic trends, including recession, rising inflation, rising interest rates, commodity price increases and fluctuations, commodity shortages and exposure to economic slowdown; The effects of the evolving nature of the war situation in Israel and the related evolving regional conflicts; 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 operation, as further detailed in Ceragon's most recent Annual Report on Form 20-F, as published on March 25, 2025, 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 of 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.

Ceragon Investor & Media Contact:

Rob Fink
FNK IR
Tel. 1+646-809-4048
[email protected]

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)



Three months ended

June 30,

Six months ended

June 30,


2025

2024

2025

2024











Revenues

82,262

96,088

170,914

184,586

Cost of revenues

53,822

62,627

113,375

119,057






Gross profit

28,440

33,461

57,539

65,529






Operating expenses:





Research and development, net

7,332

8,385

15,581

17,232

Sales and Marketing

11,722

11,508

24,019

22,769

General and administrative

6,940

2,295

12,376

8,158

Restructuring and related charges

-

-

3,732

1,416

Acquisition- and integration-related charges

229

915

704

1,377






Total operating expenses

26,223

23,103

56,412

50,952






Operating income

2,217

10,358

1,127

14,577






Financial and other expenses, net

2,896

1,916

1,906

4,777






Income (loss) before taxes

(679)

8,442

(779)

9,800






Taxes on income

588

609

1,468

1,564






Net income (loss)

(1,267)

7,833

(2,247)

8,236






Basic net income (loss) per share

(0.01)

0.09

(0.03)

0.10

Diluted net income (loss) per share

(0.01)

0.09

(0.03)

0.09

Weighted average number of shares used in

computing basic net income (loss) per share

89,470,719

85,743,770

89,108,772

85,632,241

Weighted average number of shares used in

computing diluted net income (loss) per share

89,470,719

87,921,507

89,108,772

87,753,163








CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)



June 30,

December 31,


2025

2024

ASSETS






CURRENT ASSETS:



Cash and cash equivalents

29,216

35,311

Trade receivables, net

124,051

149,619

Inventories

59,944

59,693

Other accounts receivable and prepaid expenses

20,994

16,415




Total current assets

234,205

261,038




NON-CURRENT ASSETS:



Severance pay and pension fund

5,140

4,915

Property and equipment, net

38,007

36,764

Operating lease right-of-use assets

16,707

16,702

Intangible assets, net

22,421

16,791

Goodwill

11,046

7,749

Other non-current assets

859

1,037




Total non-current assets

94,180

83,958




Total assets

328,385

344,996




LIABILITIES AND SHAREHOLDERS' EQUITY






CURRENT LIABILITIES:



Trade payables

73,759

91,157

Deferred revenues

2,426

2,573

Short-term loans

20,500

25,200

Operating lease liabilities

3,727

2,971

Other accounts payable and accrued expenses

25,453

29,547




Total current liabilities

125,865

151,448




LONG-TERM LIABILITIES:



Accrued severance pay and pension

8,661

8,359

Operating lease liabilities

13,324

12,936

Other long-term payables

8,758

5,928




Total long-term liabilities

30,743

27,223




SHAREHOLDERS' EQUITY:



Share capital

234

232

Additional paid-in capital

452,709

447,369

Treasury shares at cost

(20,091)

(20,091)

Other comprehensive loss

(7,703)

(10,060)

Accumulated deficit

(253,372)

(251,125)




Total shareholders' equity

171,777

166,325




Total liabilities and shareholders' equity

328,385

344,996

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(U.S. dollars, in thousands)



Three months ended

June 30,

Six months ended

June 30,


2025

2024

2025

2024






Cash flow from operating activities:





Net income (loss)

(1,267)

7,833

(2,247)

8,236

Adjustments to reconcile net income (loss) to net cash provided by operating activities:





Depreciation and amortization

3,632

2,941

6,964

5,880

Loss from sale of property and equipment, net

-

169

10

169

Stock-based compensation expense

1,549

1,566

2,199

2,470

Decrease (increase) in accrued severance pay and pensions, net

30

(212)

77

(564)

Decrease (increase) in trade receivables, net

21,778

(16,023)

28,162

(9,247)

Increase in other assets (including other accounts receivable, prepaid expenses, other non-current assets, and the effect of exchange rate changes on cash and cash equivalents)

(1,179)

(652)

(2,319)

(1,383)

Decrease in inventory

2,206

1,186

127

8,555

Decrease in operating lease right-of-use assets

1,323

1,694

2,054

2,626

Increase (decrease) in trade payables

(13,961)

12,075

(18,045)

589

Decrease in other accounts payable and accrued expenses (including other long-term payables)

(3,285)

(2,196)

(2,531)

(94)

Decrease in operating lease liability

(90)

(1,922)

(915)

(2,942)

Increase (decrease) in deferred revenues

26

(1,637)

(164)

(2,946)

Net cash provided by operating activities

10,762

4,822

13,372

11,349






Cash flow from investing activities:





Purchases of property and equipment, net

(3,957)

(4,562)

(7,426)

(7,955)

Software development costs capitalized

(1,173)

(676)

(1,711)

(989)

Payments made in connection with business acquisitions, net of acquired cash

-

-

(6,570)

-

Net cash used in investing activities

(5,130)

(5,238)

(15,707)

(8,944)






Cash flow from financing activities:





Proceeds from exercise of stock options

143

284

651

542

Repayments of bank credits and loans, net

(4,700)

(2,050)

(4,700)

(4,150)

Net cash used in financing activities

(4,557)

(1,766)

(4,049)

(3,608)






Effect of exchange rate changes on cash and cash equivalents

453

(298)

289

(731)






Increase (decrease) in cash and cash equivalents

1,528

(2,480)

(6,095)

(1,934)

Cash and cash equivalents at the beginning of the period

27,688

28,783

35,311

28,237

Cash and cash equivalents at the end of the period

29,216

26,303

29,216

26,303

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(U.S. dollars in thousands, except share and per share data)



Three months ended

June 30,

Six months ended

June 30,


2025

2024

2025

2024






GAAP cost of revenues

53,822

62,627

113,375

119,057

Stock-based compensation expenses

(81)

(134)

(189)

(265)

Amortization of acquired intangible assets

(451)

(189)

(956)

(378)

Excess cost on acquired inventory in business combination (*)

-

-

-

(124)

Non-GAAP cost of revenues

53,290

62,304

112,230

118,290






GAAP gross profit

28,440

33,461

57,539

65,529

Stock-based compensation expenses

81

134

189

265

Amortization of acquired intangible assets

451

189

956

378

Excess cost on acquired inventory in business combination (*)

-

-

-

124

Non-GAAP gross profit

28,972

33,784

58,684

66,296






GAAP Research and development expenses

7,332

8,385

15,581

17,232

Stock-based compensation expenses

(123)

(184)

(278)

(336)

Non-GAAP Research and development expenses

7,209

8,201

15,303

16,896






GAAP Sales and marketing expenses

11,722

11,508

24,019

22,769

Stock-based compensation expenses

(330)

(387)

(640)

(683)

Amortization of acquired intangible assets

(275)

(117)

(497)

(388)

Non-GAAP Sales and marketing expenses

11,117

11,004

22,882

21,698






GAAP General and administrative expenses

6,940

2,295

12,376

8,158

Stock-based compensation expenses

(1,015)

(861)

(1,092)

(1,186)

Non-GAAP General and administrative expenses

5,925

1,434

11,284

6,972






GAAP Restructuring and related charges

-

-

3,732

1,416

Restructuring and related charges

-

-

(3,732)

(1,416)

Non-GAAP Restructuring and related charges

-

-

-

-






GAAP Acquisition- and integration-related charges

229

915

704

1,377

Acquisition- and integration-related charges

(229)

(915)

(704)

(1,377)

Non-GAAP Acquisition- and integration-related charges

-

-

-

-

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(U.S. dollars in thousands, except share and per share data)



Three months ended

June 30,

Six months ended

June 30,


2025

2024

2025

2024






GAAP Operating income

2,217

10,358

1,127

14,577

Stock-based compensation expenses

1,549

1,566

2,199

2,470

Amortization of acquired intangible assets

726

306

1,453

766

Excess cost on acquired inventory in business combination (*)

-

-

-

124

Restructuring and other charges

-

-

3,732

1,416

Acquisition- and integration-related charges

229

915

704

1,377

Non-GAAP Operating income

4,721

13,145

9,215

20,730






GAAP Financial and other expenses, net

2,896

1,916

1,906

4,777

Leases - financial income (expenses)

(1,233)

207

(1,138)

319

Non-cash revaluation associated with business combination

16

477

1,948

(196)

Non-GAAP Financial and other expenses, net

1,679

2,600

2,716

4,900






GAAP Tax expenses

588

609

1,468

1,564

Non cash tax adjustments

-

-

-

(413)

Non-GAAP Tax expenses

588

609

1,468

1,151






GAAP Net income (loss)

(1,267)

7,833

(2,247)

8,236

Stock-based compensation expenses

1,549

1,566

2,199

2,470

Excess cost on acquired inventory in business combination (*)

-

-

-

124

Amortization of acquired intangible assets

726

306

1,453

766

Restructuring and other charges

-

-

3,732

1,416

Acquisition- and integration-related charges

229

915

704

1,377

Leases - financial expenses (income)

1,233

(207)

1,138

(319)

Non-cash revaluation associated with business combination

(16)

(477)

(1,948)

196

Non-cash tax adjustments

-

-

-

413

Non-GAAP Net income

2,454

9,936

5,031

14,679






GAAP basic net income (loss) per share

(0.01)

0.09

(0.03)

0.10






GAAP diluted net income (loss) per share

(0.01)

0.09

(0.03)

0.09






Non-GAAP Diluted net income per share

0.03

0.11

0.06

0.17






Weighted average number of shares used in

computing GAAP basic net income (loss) per share

89,470,719

85,743,770

89,108,772

85,632,241

Weighted average number of shares used in

computing GAAP diluted net income (loss) per share

89,470,719

87,921,507

89,108,772

87,753,163

Weighted average number of shares used in

computing Non-GAAP diluted net income per share

91,245,422

87,921,507

91,381,985

87,753,163

(*) Consists of charges to cost of revenues for the difference between the fair value of acquired inventory in business combination, which was recorded at fair value, and the actual cost of this inventory, which impacts the Company's gross profit.

Logo: https://mma.prnewswire.com/media/1704355/Ceragon_Networks_Ltd_Logo.jpg

SOURCE Ceragon Networks Ltd.

© 2025 PR Newswire
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