Ceragon Networks Ltd (FRA:GGN)

Q2 2026 Ceragon Networks Ltd Earnings Call Transcript

Aug 11, 2026 / 12:30 PM GMT

Release Date Price: €1.81 (-4.48%)

Transcript

Key Points

Positve

Ceragon Networks Ltd (CRNT) delivered a strong Q2 2026 with revenue of $93.9 million, up 14% year-over-year, and achieved the highest bookings since Q1 2024.
The company reported record first-half 2026 bookings and book-to-bill ratio in the last 10 years, driven by strong demand in India, including approximately $120 million in orders from operators.
Ceragon Networks Ltd (CRNT) is benefiting from a favorable competitive landscape, as two major competitors are effectively out of the market and a third's commitment is uncertain, opening new opportunities.
The company is seeing strong adoption of its innovative E-band and multi-band solutions, which are winning business in India and other markets due to their high capacity and cost-effectiveness.
Ceragon Networks Ltd (CRNT) is expanding into high-growth areas like private networks and managed services, with record private network bookings in North America and new long-term contracts, including a $70 million APAC deal.
The company maintains a net positive cash position of $22.8 million and generated positive free cash flow in Q2 2026, despite supply chain challenges.

Negative

Ceragon Networks Ltd (CRNT) experienced a decline in non-GAAP gross margin to 32.2% in Q2 2026 from 35.2% in Q2 2025, due to geographical and product mix and cost pressures.
The company faces ongoing supply chain challenges, including component cost increases and lead time extensions, which are expected to continue pressuring gross margins for the remainder of 2026.
Ceragon Networks Ltd (CRNT) lowered its full-year 2026 gross margin guidance to 33.5%-34.5% (from 35.5%) and operating margin to 5%-6% (from 6.5%-7.5%), reflecting cost pressures.
Non-GAAP operating income decreased to $4 million in Q2 2026 from $4.7 million in Q2 2025, and net income fell to $1.7 million from $2.5 million, impacted by adverse foreign currency movements.
The company's days sales outstanding (DSO) increased to 107 days, and trade receivables rose to $101.3 million, indicating potential cash flow collection issues.
Revenue from a key North American Tier 1 carrier was delayed from Q2 to Q3 due to supply chain timing issues, and the company expects only gradual improvement in cost pressures in 2027.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CRNT.OQ - Ceragon Networks Ltd
Q2 2026 Ceragon Networks Ltd Earnings Call
Aug 11, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. Our call will begin shortly.

Ladies and gentlemen, thank you for standing by. Our call will begin shortly.

Ladies and gentlemen, thank you for standing by and welcome to Ceragon's second quarter 2026 earnings call. Our presentation today will be followed by a question-and-answer session, at which time, if you wish to ask a question, you will need to raise your hand using your mobile or desktop application or press *9 on your telephone keypad and wait for your name to be announced. I must advise you that this call is being recorded today.

I'd now like to hand over the call to our first speaker today, Rob Fink, Head of Investor Relations. Rob, please go ahead.

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