Ceragon Reports 2026 Third Quarter Financial Results
Short-term loans fell to $7 million at September 30, 2026, from $19 million at December 31, 2025.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Ceragon (NASDAQ: CRNT) reported third-quarter 2026 revenue of $95.5 million, up 11.7% from the same period last year.
For the quarter ended September 30, GAAP operating income rose to $4.478 million from $3.753 million. Net income reached $2.381 million, or $0.03 per diluted share, versus $28,000, or $0.00 per share. Gross margin increased to 36.0% from 34.3% a year earlier and improved 430 basis points sequentially. Operating cash flow was $14.093 million, versus $7.161 million a year earlier.
Ceragon updated its 2026 revenue outlook to $365 million–$375 million. At the revenue midpoint, it expects non-GAAP gross margin of 33.5%–34.5% and non-GAAP operating margin of 5%–6%. North American revenue rebounded sequentially, while India faced continued supply constraints. For the first nine months, the net loss narrowed to $1.053 million from $2.219 million.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQ3 revenue of $95.5 million increased 11.7% year over year, driven by increased revenue from India.
- Moderate pointQ3 gross margin of 36.0% exceeded 34.3% a year earlier and improved 430 basis points sequentially.
- Moderate pointQ3 GAAP operating income of $4.478 million increased from $3.753 million a year earlier.
- Moderate pointQ3 GAAP net income of $2.381 million, or $0.03 diluted EPS, exceeded $28,000, or $0.00, a year earlier.
- Moderate pointQ3 non-GAAP operating income of $8.080 million increased from $5.332 million a year earlier.
- Moderate pointQ3 non-GAAP net income was $6.2 million, or $0.07 per diluted share.
- Moderate pointQ3 operating cash flow of $14.093 million increased from $7.161 million a year earlier.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 revenue outlook of $365 million–$375 million was updated by management.
- Moderate pointShort-term loans fell to $7 million at September 30, 2026, from $19 million at December 31, 2025.
11 minor points
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 non-GAAP gross margin is expected at 33.5%–34.5% at the revenue guidance midpoint.
- Minor point. Forward-looking: it has not happened yet and may not happen.2026 non-GAAP operating margin is expected at 5%–6% at the revenue guidance midpoint.
- Minor pointNorth American revenue rebounded sequentially, driven by Tier 1 carrier demand and a higher software mix.
- Minor point. Forward-looking: it has not happened yet and may not happen.New private-network business wins cover new use cases; Ceragon believes similar wins could support growth in 2027 and beyond.
- Minor pointCash increased to $39.097 million at September 30, 2026, from $38.368 million at December 31, 2025.
- Minor pointNine-month revenue reached $274.441 million, versus $256.398 million in the same period of 2025.
- Minor pointNine-month GAAP operating income reached $6.800 million, versus $4.880 million a year earlier.
- Minor pointNine-month net loss narrowed to $1.053 million, or $0.01 per share, from $2.219 million, or $0.02.
- Minor pointNine-month operating cash flow increased to $25.689 million, from $20.533 million a year earlier.
- Minor pointQ3 financial and other expenses fell to $1.391 million, from $2.976 million a year earlier.
- Minor pointNine-month restructuring charges fell to $1.660 million, from $3.732 million a year earlier.
Negative
- Moderate pointContinued supply constraints in India persisted despite underlying operator demand.
- Moderate pointQ3 operating expenses rose to $29.864 million, from $25.597 million a year earlier.
- Minor pointNine-month operating expenses rose to $87.345 million, from $82.009 million a year earlier.
- Minor pointNine-month financial and other expenses rose to $5.910 million, from $4.882 million a year earlier.
- Minor pointQ3 property and equipment purchases used $3.761 million, versus $3.150 million a year earlier.
- Minor pointQ3 capitalized software development costs used $1.465 million, versus $964,000 a year earlier.
News Explained
At
Key Figures
- Q3 revenue
- $95.5 million
- Q3 2026; up 11.7% year over year
- GAAP gross margin
- 36.0%
- Q3 2026; compared with 34.3% in Q3 2025
- GAAP operating income
- $4.5 million
- Q3 2026; compared with $3.8 million in Q3 2025
- GAAP net income
- $2.4 million
- Q3 2026; compared with $0.0 million in Q3 2025
- Cash from operations
- $14.1 million
- Q3 2026
- 2026 revenue outlook
- $365 million to $375 million
- Updated 2026 outlook
- Non-GAAP gross margin outlook
- 33.5% to 34.5%
- At the midpoint of the revenue guidance range
- Non-GAAP operating margin outlook
- 5% to 6%
- At the midpoint of the revenue guidance range
Previous Earnings Reports
-
Q2 report set 2026 revenue guidance at $355–$385 million and reduced margin expectations.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
gaap financial
cash flow from operating activities financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Revenue increase of
Improved revenue mix drove 430 basis point improvement in gross margin sequentially;
Company generated
ROSH HA'
Q3 2026 Financial Highlights:
- Revenue of
$95.5 million - GAAP Operating income of
, non-GAAP operating income of$4.5 million $8.1 million - GAAP Net income of
, non-GAAP net income of$2.4 million $6.2 million - GAAP EPS of
per diluted share, non-GAAP EPS of$0.03 per diluted share$0.07
Q3 2026 Business Highlights:
North America strength: Strong sequential rebound in revenue driven by Tier 1 carrier demand and higher software mixIndia demand remains healthy: Solid underlying demand from major operators, driven by ongoing network modernization investments- EMEA growth opportunities: Growing E-band interest, new operator engagements, and opportunities to gain market share amid changes in the competitive landscape
Ceragon's CEO, Doron Arazi, commented: "We delivered a strong third quarter, highlighted by approximately
"Looking ahead, we are increasingly encouraged by several developments that could create meaningful opportunities in 2027 and beyond," concluded Mr. Arazi. "In North America, we have opportunities to expand our customer base and benefit from evolving network architectures and competitive dynamics. In EMEA, growing demand for E-band solutions and changes in the competitive landscape are serving as catalysts with customers. We are winning private network business in new use cases where Ceragon's differentiation has been a major factor. We believe these early wins can be replicated with other customers and applications, which could significantly expand our addressable market and drive growth in 2027 and beyond."
Primary Third Quarter 2026 Financial Results:
Revenues were
Gross profit was
GAAP Operating income was
GAAP Net income was
Non-GAAP results were as follows: Gross margin was
For a reconciliation of GAAP to non-GAAP results, see the attached tables.
Balance Sheet
Cash and cash equivalents were
Revenue Breakout by Geography:
|
|
Q3 2026 |
|
North America |
40 % |
|
|
35 % |
|
EMEA |
12 % |
|
|
7 % |
|
APAC |
6 % |
Outlook
Management updated its 2026 outlook:
- Revenue of
to$365 million $375 million - Non-GAAP gross margin is expected to be between
33.5% and34.5% at the midpoint of the revenue guidance range - Non-GAAP operating margin is expected to be between
5% and6% at the midpoint of the 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
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 relating to supply chain constraints and disruptions, including shortages, extended lead times, and price increases of components and raw materials; risks related to conditions in
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
crnt@fnkir.com
Joey Delahoussaye
FNK IR
Tel. +1-312-809-1087
crnt@fnkir.com
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
|||||||
|
( |
|||||||
|
|
|||||||
|
|
Three months ended September 30, |
|
Nine months ended September 30, |
||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues |
95,524 |
|
85,484 |
|
274,441 |
|
256,398 |
|
Cost of revenues |
61,182 |
|
56,134 |
|
180,296 |
|
169,509 |
|
|
|
|
|
|
|
|
|
|
Gross profit |
34,342 |
|
29,350 |
|
94,145 |
|
86,889 |
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
Research and development, net |
7,852 |
|
6,955 |
|
24,198 |
|
22,536 |
|
Sales and Marketing |
13,459 |
|
12,609 |
|
40,358 |
|
36,628 |
|
General and administrative |
6,410 |
|
6,013 |
|
18,753 |
|
18,389 |
|
Restructuring and related charges |
- |
|
- |
|
1,660 |
|
3,732 |
|
Acquisition- and integration-related charges |
2,143 |
|
20 |
|
2,376 |
|
724 |
|
|
|
|
|
|
|
|
|
|
Total operating expenses |
29,864 |
|
25,597 |
|
87,345 |
|
82,009 |
|
|
|
|
|
|
|
|
|
|
Operating income |
4,478 |
|
3,753 |
|
6,800 |
|
4,880 |
|
|
|
|
|
|
|
|
|
|
Financial and other expenses, net |
1,391 |
|
2,976 |
|
5,910 |
|
4,882 |
|
|
|
|
|
|
|
|
|
|
Income (loss) before taxes |
3,087 |
|
777 |
|
890 |
|
(2) |
|
|
|
|
|
|
|
|
|
|
Taxes on income |
706 |
|
749 |
|
1,943 |
|
2,217 |
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
2,381 |
|
28 |
|
(1,053) |
|
(2,219) |
|
|
|
|
|
|
|
|
|
|
Basic net income (loss) per share |
0.03 |
|
0.00 |
|
(0.01) |
|
(0.02) |
|
Diluted net income (loss) per share |
0.03 |
|
0.00 |
|
(0.01) |
|
(0.02) |
|
Weighted average number of shares used in computing basic net income (loss) per share |
91,814,545 |
|
90,296,561 |
|
91,189,884 |
|
89,509,052 |
|
Weighted average number of shares used in computing diluted net income (loss) per share |
93,435,521 |
|
91,744,069 |
|
91,189,884 |
|
89,509,052 |
|
CONDENSED CONSOLIDATED BALANCE SHEETS |
|||
|
( |
|||
|
|
|||
|
|
September 30, |
|
December 31, |
|
|
2026 |
|
2025 |
|
ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS: |
|
|
|
|
Cash and cash equivalents |
39,097 |
|
38,368 |
|
Trade receivables, net |
100,447 |
|
99,673 |
|
Inventories |
65,660 |
|
61,587 |
|
Other accounts receivable and prepaid expenses |
25,933 |
|
25,576 |
|
|
|
|
|
|
Total current assets |
231,137 |
|
225,204 |
|
|
|
|
|
|
NON-CURRENT ASSETS: |
|
|
|
|
Severance pay and pension fund |
410 |
|
362 |
|
Property and equipment, net |
42,273 |
|
39,952 |
|
Operating lease right-of-use assets |
15,184 |
|
16,554 |
|
Intangible assets, net |
23,830 |
|
23,182 |
|
Goodwill |
11,007 |
|
11,007 |
|
Other non-current assets |
624 |
|
781 |
|
|
|
|
|
|
Total non-current assets |
93,328 |
|
91,838 |
|
|
|
|
|
|
Total assets |
324,465 |
|
317,042 |
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES: |
|
|
|
|
Trade payables |
83,660 |
|
70,784 |
|
Deferred revenues |
2,803 |
|
2,371 |
|
Short-term loans |
7,000 |
|
19,000 |
|
Operating lease liabilities |
4,207 |
|
4,001 |
|
Other accounts payable and accrued expenses |
29,663 |
|
24,071 |
|
|
|
|
|
|
Total current liabilities |
127,333 |
|
120,227 |
|
|
|
|
|
|
LONG-TERM LIABILITIES: |
|
|
|
|
Accrued severance pay and pension |
2,717 |
|
2,537 |
|
Operating lease liabilities |
12,007 |
|
13,331 |
|
Other long-term payables |
7,896 |
|
8,195 |
|
|
|
|
|
|
Total long-term liabilities |
22,620 |
|
24,063 |
|
|
|
|
|
|
SHAREHOLDERS' EQUITY: |
|
|
|
|
Share capital |
234 |
|
234 |
|
Additional paid-in capital |
458,717 |
|
454,640 |
|
Treasury shares at cost |
(20,091) |
|
(20,091) |
|
Other comprehensive loss |
(10,080) |
|
(8,816) |
|
Accumulated deficit |
(254,268) |
|
(253,215) |
|
|
|
|
|
|
Total shareholders' equity |
174,512 |
|
172,752 |
|
|
|
|
|
|
Total liabilities and shareholders' equity |
324,465 |
|
317,042 |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW |
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|
( |
|||||||
|
|
|||||||
|
|
Three months ended September 30, |
|
Nine months ended September 30, |
||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
Cash flow from operating activities: |
|
|
|
|
|
|
|
|
Net income (loss) |
2,381 |
|
28 |
|
(1,053) |
|
(2,219) |
|
Adjustments to reconcile net income (loss) to net |
|
|
|
|
|
|
|
|
Depreciation and amortization |
4,847 |
|
3,436 |
|
11,752 |
|
10,400 |
|
Loss from sale of property and equipment, net |
13 |
|
15 |
|
135 |
|
25 |
|
Stock-based compensation expense |
898 |
|
862 |
|
3,545 |
|
3,061 |
|
Decrease in accrued severance pay and pensions, net |
180 |
|
(723) |
|
132 |
|
(646) |
|
Decrease (increase) in trade receivables, net |
834 |
|
12,130 |
|
(703) |
|
40,292 |
|
Increase in other assets (including other accounts |
(2,430) |
|
(1,904) |
|
(1,675) |
|
(4,223) |
|
Decrease (increase) in inventory |
(6,380) |
|
1,276 |
|
(4,819) |
|
1,403 |
|
Decrease in operating lease right-of-use assets |
965 |
|
962 |
|
3,100 |
|
3,016 |
|
Increase (decrease) in trade payables |
9,500 |
|
(5,233) |
|
12,581 |
|
(23,278) |
|
Increase (decrease) in other accounts payable and |
2,490 |
|
(2,358) |
|
5,110 |
|
(4,889) |
|
Decrease in operating lease liability |
(708) |
|
(810) |
|
(2,848) |
|
(1,725) |
|
Increase (decrease) in deferred revenues |
1,503 |
|
(520) |
|
432 |
|
(684) |
|
Net cash provided by operating activities |
14,093 |
|
7,161 |
|
25,689 |
|
20,533 |
|
|
|
|
|
|
|
|
|
|
Cash flow from investing activities: |
|
|
|
|
|
|
|
|
Purchases of property and equipment, net |
(3,761) |
|
(3,150) |
|
(9,358) |
|
(10,576) |
|
Software development costs capitalized |
(1,465) |
|
(964) |
|
(4,386) |
|
(2,675) |
|
Payments made in connection with business |
- |
|
- |
|
- |
|
(6,570) |
|
Net cash used in investing activities |
(5,226) |
|
(4,114) |
|
(13,744) |
|
(19,821) |
|
|
|
|
|
|
|
|
|
|
Cash flow from financing activities: |
|
|
|
|
|
|
|
|
Proceeds from exercise of stock options |
19 |
|
4 |
|
295 |
|
655 |
|
Proceeds from (repayments of) bank credits and |
(5,004) |
|
10,500 |
|
(12,000) |
|
5,800 |
|
Net cash provided by (used in) financing activities |
(4,985) |
|
10,504 |
|
(11,705) |
|
6,455 |
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash |
444 |
|
220 |
|
489 |
|
509 |
|
|
|
|
|
|
|
|
|
|
Increase (decrease) in cash and cash equivalents |
4,326 |
|
13,771 |
|
729 |
|
7,676 |
|
Cash and cash equivalents at the beginning of the period |
34,771 |
|
29,216 |
|
38,368 |
|
35,311 |
|
Cash and cash equivalents at the end of the period |
39,097 |
|
42,987 |
|
39,097 |
|
42,987 |
|
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS |
|||||||
|
( |
|||||||
|
|
|||||||
|
|
Three months ended September 30, |
|
Nine months ended September 30, |
||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
GAAP cost of revenues |
61,182 |
|
56,134 |
|
180,296 |
|
169,509 |
|
Stock-based compensation expenses |
(106) |
|
(134) |
|
(345) |
|
(323) |
|
Amortization of acquired intangible assets |
(342) |
|
(422) |
|
(1,186) |
|
(1,378) |
|
Non-GAAP cost of revenues |
60,734 |
|
55,578 |
|
178,765 |
|
167,808 |
|
|
|
|
|
|
|
|
|
|
GAAP gross profit |
34,342 |
|
29,350 |
|
94,145 |
|
86,889 |
|
Stock-based compensation expenses |
106 |
|
134 |
|
345 |
|
323 |
|
Amortization of acquired intangible assets |
342 |
|
422 |
|
1,186 |
|
1,378 |
|
Non-GAAP gross profit |
34,790 |
|
29,906 |
|
95,676 |
|
88,590 |
|
|
|
|
|
|
|
|
|
|
GAAP Research and development expenses |
7,852 |
|
6,955 |
|
24,198 |
|
22,536 |
|
Stock-based compensation expenses |
(186) |
|
(190) |
|
(594) |
|
(468) |
|
Non-GAAP Research and development expenses |
7,666 |
|
6,765 |
|
23,604 |
|
22,068 |
|
|
|
|
|
|
|
|
|
|
GAAP Sales and marketing expenses |
13,459 |
|
12,609 |
|
40,358 |
|
36,628 |
|
Stock-based compensation expenses |
(320) |
|
(304) |
|
(1,010) |
|
(944) |
|
Amortization of acquired intangible assets |
(219) |
|
(275) |
|
(659) |
|
(772) |
|
Non-GAAP Sales and marketing expenses |
12,920 |
|
12,030 |
|
38,689 |
|
34,912 |
|
|
|
|
|
|
|
|
|
|
GAAP General and administrative expenses |
6,410 |
|
6,013 |
|
18,753 |
|
18,389 |
|
Stock-based compensation expenses |
(286) |
|
(234) |
|
(1,596) |
|
(1,326) |
|
Non-GAAP General and administrative expenses |
6,124 |
|
5,779 |
|
17,157 |
|
17,063 |
|
|
|
|
|
|
|
|
|
|
GAAP Restructuring and related charges |
- |
|
- |
|
1,660 |
|
3,732 |
|
Restructuring and related charges |
- |
|
- |
|
(1,660) |
|
(3,732) |
|
Non-GAAP Restructuring and related charges |
- |
|
- |
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
GAAP Acquisition- and integration-related charges |
2,143 |
|
20 |
|
2,376 |
|
724 |
|
Acquisition- and integration-related charges |
(2,143) |
|
(20) |
|
(2,376) |
|
(724) |
|
Non-GAAP Acquisition- and integration-related charges |
- |
|
- |
|
- |
|
- |
|
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS |
|||||||
|
( |
|||||||
|
|
|||||||
|
|
Three months ended September 30, |
|
Nine months ended September 30, |
||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
GAAP Operating income |
4,478 |
|
3,753 |
|
6,800 |
|
4,880 |
|
Stock-based compensation expenses |
898 |
|
862 |
|
3,545 |
|
3,061 |
|
Amortization of acquired intangible assets |
561 |
|
697 |
|
1,845 |
|
2,150 |
|
Restructuring and other charges |
- |
|
- |
|
1,660 |
|
3,732 |
|
Acquisition- and integration-related charges |
2,143 |
|
20 |
|
2,376 |
|
724 |
|
Non-GAAP Operating income |
8,080 |
|
5,332 |
|
16,226 |
|
14,547 |
|
|
|
|
|
|
|
|
|
|
GAAP Financial and other expenses, net |
1,391 |
|
2,976 |
|
5,910 |
|
4,882 |
|
Leases – financial expenses |
(256) |
|
(152) |
|
(252) |
|
(1,290) |
|
Non-cash revaluation associated with a business combination |
23 |
|
24 |
|
(14) |
|
1,972 |
|
Non-GAAP Financial and other expenses, net |
1,158 |
|
2,848 |
|
5,644 |
|
5,564 |
|
|
|
|
|
|
|
|
|
|
GAAP Tax expenses |
706 |
|
749 |
|
1,943 |
|
2,217 |
|
Non-GAAP Tax expenses |
706 |
|
749 |
|
1,943 |
|
2,217 |
|
|
|
|
|
|
|
|
|
|
GAAP Net income (loss) |
2,381 |
|
28 |
|
(1,053) |
|
(2,219) |
|
Stock-based compensation expenses |
898 |
|
862 |
|
3,545 |
|
3,061 |
|
Amortization of acquired intangible assets |
561 |
|
697 |
|
1,845 |
|
2,150 |
|
Restructuring and other charges |
- |
|
- |
|
1,660 |
|
3,732 |
|
Acquisition- and integration-related charges |
2,143 |
|
20 |
|
2,376 |
|
724 |
|
Leases – financial expenses |
256 |
|
152 |
|
252 |
|
1,290 |
|
Non-cash revaluation associated with a business combination |
(23) |
|
(24) |
|
14 |
|
(1,972) |
|
Non-GAAP Net income |
6,216 |
|
1,735 |
|
8,639 |
|
6,766 |
|
|
|
|
|
|
|
|
|
|
GAAP basic net income (loss) per share |
0.03 |
|
0.00 |
|
(0.01) |
|
(0.02) |
|
|
|
|
|
|
|
|
|
|
GAAP diluted net income (loss) per share |
0.03 |
|
0.00 |
|
(0.01) |
|
(0.02) |
|
|
|
|
|
|
|
|
|
|
Non-GAAP Diluted net income per share |
0.07 |
|
0.02 |
|
0.09 |
|
0.07 |
|
|
|
|
|
|
|
|
|
|
Weighted average number of shares used in computing |
91,814,545 |
|
90,296,561 |
|
91,189,884 |
|
89,509,052 |
|
Weighted average number of shares used in computing |
93,435,521 |
|
91,744,069 |
|
91,189,884 |
|
89,509,052 |
|
Weighted average number of shares used in computing |
93,435,521 |
|
91,744,069 |
|
93,228,976 |
|
91,507,031 |
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SOURCE Ceragon Networks Ltd.
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