Ceragon Stories 17.7% Building up in Quarterly Earnings, GAAP EPS of $0.14 In step with Proportion within the 3rd Quarter

Earnings Diversification, Expense Control, Allow Constant Profitability;

Control Reiterates Midpoint of Complete-Past 2024 Outlook 

ROSH HA‘AIN, Israel, Nov. 13, 2024 /PRNewswire/ — Ceragon (NASDAQ: CRNT), a chief answers supplier of end-to-end wi-fi connectivity, lately reported its monetary effects for the 3rd quarter duration ended September 30, 2024.

Q3 2024 Monetary Highlights:

• Revenues of $102.7 million
• Working source of revenue of $14.6 million on a GAAP foundation, or $15.8 million on a non-GAAP foundation
• Internet Source of revenue of $12.2 million on a GAAP foundation, and web source of revenue of $14.1 million on a non-GAAP foundation
• EPS of $0.14 consistent with diluted percentage on a GAAP foundation, or $0.16 consistent with diluted percentage on a non-GAAP foundation

Q3 2024 Industry Highlights:

• Bharat:
  –  All-time document quarterly revenues.
  –  Increasing pipeline of shopper alternatives
  –  Expanding income diversification
  –  Persevered ramp up in deliveries for unutilized IP-50CX product
• North The usa:
  –  Seven consecutive quarters of income above $20 million
  –  Finished Town of Cincinnati prolonged undertaking with tall buyer pride, developing extra alternatives thru proactive references

Doron Arazi, CEO, commented: “Ceragon delivered double-digit year-over-year revenue growth, driven by strong results from India and North America. We are reiterating our full-year outlook based on our year-to-date results and current visibility into the fourth quarter, narrowing the range and preserving the midpoint. We continue to see a healthy funnel of opportunities in the private networks’ domain, primarily in North America, and demand in India has remained strong, as we grow our presence in multiple accounts, driving revenue diversification and giving us continued confidence in expected future business.”

“Simultaneously, we are converting incremental revenue into expanded profitability,” persisted Mr. Arazi. “Our non-GAAP operating profit, excluding the benefit of the collection of prior bad debt, increased approximately 35% year-over-year. Accordingly, our non-GAAP operating margin, again excluding this benefit, improved by approximately 130 basis points year-over-year, exceeding 10% and demonstrating the growing leverage we have built into our business model. Additionally, we generated more than $10 million in free cash flow in the third quarter, enabling us to bolster our balance sheet.”

Number one 3rd Quarter 2024 Monetary Effects:

Revenues had been $102.7 million, up 17.7% from $87.3 million in Q3 2023 and up 6.9% from $96.1 million in Q2 2024.

GAAP Working source of revenue used to be $14.6 million when compared with $6.7 million for Q3 2023 and $10.4 million for Q2 2024.

GAAP Internet source of revenue used to be $12.2 million, or $0.14 consistent with diluted percentage, when compared with $3.4 million, or $0.04 consistent with diluted percentage for Q3 2023 and $7.8 million, or $0.09 consistent with diluted percentage for Q2 2024.

Non-GAAP effects had been as follows: Improper margin used to be 34.3%, working source of revenue used to be $15.8 million, and web source of revenue of $14.1 million, or $0.16 consistent with diluted percentage. The 3rd quarter integrated roughly $5.1 million get advantages linked to assortment from a debt agreement contract reached with a South American buyer.

Steadiness Sheet

Money and coins equivalents had been $34.0 million on September 30, 2024, in comparison to $26.3 million on June 30, 2024.

For a reconciliation of GAAP to non-GAAP effects, see the hooked up tables.

Earnings Breakout via Geography:

Outlook

Control reiterated its 2024 outlook, narrowing the predicted dimension moment keeping up the midpoint of the outlook:

• Earnings of $390 million to $400 million, representing enlargement of 12% to fifteen% in comparison to 2023 income. This steering comprises the contribution from Siklu, which used to be received in December 2023.
• Non-GAAP working margins are focused to be no less than 10% on the mid-point of the income steering.
• Because of this, control expects larger non-GAAP benefit and certain independent coins tide for the overall time of 2024.

Convention Name

The Corporate will host a Zoom internet convention lately at 8:30 a.m. ET to talk about the effects, adopted via a question-and-answer consultation for the funding nation. Contemporary geopolitical occasions may have an effect on the reside query and reply consultation. On this not likely match, control’s ready remarks shall be pre-recorded, and the query and reply consultation can be rescheduled.

Buyers are invited to check in via clicking here. All related data shall be despatched upon registration.

If you’re not able to tied the reside name, a replay shall be to be had on our site at www.ceragon.com inside 24 hours next the decision. 

About Ceragon

Ceragon (NASDAQ: CRNT) is the worldwide innovator and chief answers supplier of end-to-end wi-fi connectivity, focusing on delivery, get right of entry to, and AI-powered controlled & skilled products and services. Thru our constancy to excellence, we empower shoppers to raise operational potency and enrich the constituent of enjoy for his or her finish customers.

Our shoppers come with provider suppliers, utilities, society protection organizations, executive businesses, power firms, and extra, who depend on our wi-fi experience and state-of-the-art answers for 5G & 4G broadband wi-fi connectivity, mission-critical products and services, and an array of programs that harness our ultra-high reliability and velocity. Ceragon answers are deployed via greater than 600 provider suppliers, in addition to greater than 1,600 non-public community house owners, in additional than 130 international locations.

Thru our leading edge, end-to-end answers, masking {hardware}, device, and controlled & skilled products and services, we allow our shoppers to embody the time of wi-fi generation with self assurance, shaping the after life of connectivity and repair supply. Ceragon delivers extraordinarily decent, rapid to deploy, high-capacity wi-fi answers for a large dimension of conversation community virtue instances, optimized to decrease TCO thru minimum virtue of spectrum, energy, actual property, and hard work sources – using easy, fast, and cost-effective community modernization and positioning Ceragon as a chief answers supplier for the “connectivity everywhere” life.

For more info please seek advice from: www.ceragon.com

Ceragon Networks® and FibeAir® are registered logos of Ceragon Networks Ltd. in the US and alternative international locations. CERAGON® is a hallmark of Ceragon Networks Ltd., registered in numerous international locations. Alternative names discussed are owned via their respective holders.

Shield Harbor

This press launch comprises statements that represent “forward-looking statements” inside the which means of the Securities Work of 1933, as amended and the Securities Change Work of 1934, as amended, and the safe-harbor provisions of the Personal Securities Litigation Reform Work of 1995. Such forward-looking statements are in line with the modern ideals, expectancies and suppositions of Ceragon’s control about Ceragon’s industry, monetary status, result of operations, micro and macro marketplace traits and alternative problems addressed or mirrored therein. Examples of forward-looking statements come with, however aren’t restricted to, statements referring to: projections of call for, revenues, web source of revenue, rude margin, capital expenditures and liquidity, aggressive pressures, sequence timing, provide chain and transport, parts availability, enlargement possibilities, product construction, monetary sources, charge financial savings and alternative monetary and marketplace issues. Chances are you’ll establish those and alternative forward-looking statements via the virtue of phrases similar to “may”, “plans”, “anticipates”, “believes”, “estimates”, “targets”, “expects”, “intends”, “potential” or the unfavourable of such phrases, or alternative similar terminology, even though no longer all forward-looking statements comprise those figuring out phrases.

Even supposing we imagine that the projections mirrored in such forward-looking statements are founded upon cheap suppositions, we will give incorrect promise that our expectancies shall be got or that any deviations therefrom might not be subject material. Such forward-looking statements contain recognized and unknown dangers and uncertainties that can reason Ceragon’s time effects or efficiency to fluctuate materially from the ones expected, expressed or implied via such forward-looking statements. Those dangers and uncertainties come with, however aren’t restricted to: the consequences of the evolving nature of the warfare condition in Israel and the linked evolving regional conflicts; the consequences of world financial traits, together with recession, emerging inflation, emerging rates of interest, commodity worth will increase and fluctuations, commodity shortages and publicity to financial slowdown; dangers related to delays within the transition to 5G applied sciences and within the 5G rollout; dangers in relation to the focus of our industry on a restricted selection of immense cell operators and the truth that the numerous weight in their ordering, in comparison to the whole ordering via alternative shoppers, coupled with inconsistent ordering patterns, may negatively have an effect on us; dangers because of the volatility in our revenues, margins and dealing capital wishes; disagreements with tax government referring to tax positions that we have got taken may lead to larger tax liabilities; the tall volatility within the provide wishes of our shoppers, which from future to future top to supply problems and might top to us being not able to well timed fulfil our buyer loyalty; and such alternative dangers, uncertainties and alternative components that would have an effect on our result of operation, as additional impressive in Ceragon’s most up-to-date Annual File on Mode 20-F, as printed on March 21, 2024, in addition to alternative paperwork that can be due to this fact filed via Ceragon from future to future with the Securities and Change Fee.

We warning you to not playground undue reliance on forward-looking statements, which discuss most effective as of the presen hereof. Ceragon does no longer suppose any legal responsibility to replace any forward-looking statements to bring to mirror occasions or instances that can get up next the presen of this launch except required via regulation.

Era we imagine that we have got an inexpensive foundation for each and every forward-looking observation contained on this press launch, we warning you that those statements are in line with a mixture of details and components recently recognized via us and our projections of the time, about which we can’t be sure. As well as, any forward-looking statements constitute Ceragon’s perspectives most effective as of the presen of this press launch and must no longer be relied upon as representing its perspectives as of any next presen. Ceragon does no longer suppose any legal responsibility to replace any forward-looking statements except required via regulation.

The effects reported on this press-release are initial and unaudited effects, and traders must pay attention to imaginable discrepancies between those effects and the audited effects to be reported, because of numerous components.

Ceragon’s society filings are to be had at the Securities and Change Fee’s site at www.sec.gov and will also be got from Ceragon’s site at www.ceragon.com.

Ceragon Investor & Media Touch:

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

Brand – https://mma.prnewswire.com/media/1704355/Ceragon_Networks_Ltd_Logo.jpg

SOURCE Ceragon Networks Ltd.

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