Leading American ISP Orders Siklu by Ceragon E-Band Product in Multi-Million Dollar Deal to Expand Network Coverage

Rhea-AI Summary

Ceragon Networks (NASDAQ: CRNT) has announced a multi-million dollar order from a leading American ISP to deliver nearly 1,000 new E-Band links by the end of 2024. The long-standing partnership leverages Siklu by Ceragon technology to expand high-speed internet connectivity across the U.S. The ISP, known for its strong market presence, serves residential MDUs, single-family homes, and businesses. Hundreds of links from this order have already been deployed, with the rest expected by Q4. Additionally, Ceragon and the ISP are testing a next-generation 20Gbps product to ensure top-tier service for years. CEO Doron Arazi highlights this deal as a strategic move to enhance market share in the ISP and Private Networks sectors.

Positive

• Ceragon secures a multi-million dollar order to deliver nearly 1,000 E-Band links.
• This deal extends a robust, over half-decade-long partnership with a leading American ISP.
• Hundreds of the ordered links have already been deployed with the rest slated for Q4 2024.
• Successful field tests of a next-generation 20Gbps product indicate strong customer adoption and future readiness.
• The partnership reinforces Ceragon's strategy to increase market share in ISP and Private Networks domains.

Negative

• None.

News Market Reaction – CRNT

+4.10%

+4.10% Session move

In the trading session that priced this news, CRNT gained 4.10%, reflecting a moderate positive market reaction.

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Ceragon to deliver almost one thousand new E-Band links to leading ISP in 2024

ROSH HA'AIN, Israel, July 9, 2024 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the leading solutions provider of end-to-end wireless connectivity, today announced a multi-million-dollar order from a leading American Internet Service Provider (ISP). The deal extends a robust partnership spanning more than half a decade that leverages advanced Siklu by Ceragon technology to deliver broadband internet service across the United States.

The ISP is a prominent player with strong brand recognition in the broadband market, focusing on providing high-speed, reliable internet connectivity to residential Multi Dwelling Units (MDUs), single-family homes, and businesses in a growing number of locations across the United States. With a substantial customer base served by thousands of Siklu by Ceragon wireless E-band links, the ISP continues to expand its internet service offering. Several hundred links from the most recent order have already been deployed, with the remainder slated for completion by the end of Q4.

Ceragon and the Internet Service Provider have continued their collaboration, already completing several successful field tests of Siklu by Ceragon's next-generation 20Gbps product. This innovation collaboration will help to ensure that the ISP is positioned to provide its customers with unrivaled Internet services for many years to come.

Doron Arazi, Ceragon's CEO, commented, "The acquisition of Siklu allowed Ceragon to add fantastic new team members and technology to our family – and beyond that, some incredible new customers, including this world-renowned ISP. This deployment, along with the successful ongoing in-field testing of our next-generation 20Gbps product, is a strong indicator of customer adoption, helping us to execute our strategy of increasing our market share in ISPs and Private Networks domains."

About Ceragon

Ceragon Networks (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 Networks Ltd., 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 therefrom 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: 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 21, 2024, 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.

Investor & Media Contact:
Rob Fink
FNK IR
1+646-809-4048
crnt@fnkir.com

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

 

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SOURCE Ceragon Networks Ltd

FAQ

What did Ceragon Networks announce on July 9, 2024?

Ceragon Networks (NASDAQ: CRNT) announced a multi-million dollar order from a leading American ISP to deliver nearly 1,000 new E-Band links by the end of 2024.

What is the significance of the Siklu by Ceragon technology in the recent deal?

The Siklu by Ceragon technology will be used to expand the ISP's broadband internet service across the United States, enhancing high-speed, reliable internet connectivity.

How many E-Band links will Ceragon deliver to the American ISP?

Ceragon will deliver almost 1,000 new E-Band links to the leading American ISP.

When are the remaining E-Band links expected to be deployed?

The remaining E-Band links are expected to be deployed by the end of Q4 2024.

What future product is Ceragon testing with the ISP?

Ceragon and the ISP are testing a next-generation 20Gbps product to ensure top-tier service for the future.