Ceragon

Ceragon Reports 20% Growth in the Fourth Quarter of 2023; Exceeds Full-Year 2023 Guidance

Retrieved on: 
Tuesday, February 20, 2024

ROSH HA'AIN, Israel, Feb. 20, 2024 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the fourth quarter and full year period ended December 31, 2023.

Key Points: 
  • During 2023, we expanded our presence in the private network market, establishing a scalable foundation for continued growth."
  • Primary Fourth Quarter 2023 Financial Results:
    Revenues were $90.4 million, up 20% from $75.5 million in Q4 2022 and up 3.6% from $87.3 million in Q3 2023.
  • The fourth quarter of 2023 included expenses related to the acquisition of Siklu and the consolidation of Siklu results since closing on December 4, 2023.
  • Cash and cash equivalents were $28.2 million at December 31, 2023, compared to $22.9 million at December 31, 2022.

Ceragon Anticipates Reaching the High-End of 2023 Revenue Guidance, Expects Double-Digit Growth and Targets Margin Expansion in 2024

Retrieved on: 
Wednesday, January 17, 2024

ROSH HA'AIN, Israel, Jan. 17, 2024 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today confirmed its expectations for the 2023, and provided its guidance for 2024.

Key Points: 
  • Revenue of $385 million to $405 million, representing growth at the midpoint of approximately 14% compared to expected 2023 levels.
  • As a result, management expects increased non-GAAP profit and positive free cash flow for the full year of 2024 as compared with 2023.
  • "We expect continued double-digit growth, reflecting expansion of our addressable market and further penetration into the private network ecosystem, in 2024," commented Doron Arazi, Ceragon CEO.
  • Ceragon is expected to report its audited fourth quarter and full-year 2023 financial results in mid-February.

Ceragon Networks to Participate in the Needham Growth Conference

Retrieved on: 
Wednesday, January 3, 2024

ROSH HA'AIN, Israel, Jan. 3, 2024 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced it will attend the 26th Annual Needham Growth Conference, January 17-18, 2024 in New York.

Key Points: 
  • ROSH HA'AIN, Israel, Jan. 3, 2024 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced it will attend the 26th Annual Needham Growth Conference, January 17-18, 2024 in New York.
  • Doron Arazi, Chief Executive Officer, and Ronen Stein, Chief Financial Officer, will host a live webcast presentation at 10:15 a.m.
  • Management will also conduct one-on-one investor meetings throughout the conference.
  • Attending investors interested in meeting with Ceragon Networks at the conference can contact their Needham representative or reach out to FNK IR at [email protected] .

Ceragon Networks Completes Acquisition of Siklu

Retrieved on: 
Tuesday, December 5, 2023

ROSH HA'AIN, Israel, Dec. 5, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that it has completed the previously announced acquisition of Siklu, a provider of multi-Gigabit "wireless fiber" connectivity in urban, suburban and rural areas. The acquisition creates a more comprehensive, end-to-end offering ideally targeted to small service providers and private networks around the world. In particular, the combination gives Ceragon immediate access to Siklu's established leadership in the millimeter-wave market in North America including its Fixed Wireless Access offering.

Key Points: 
  • The acquisition creates a more comprehensive, end-to-end offering ideally targeted to small service providers and private networks around the world.
  • We welcome the talented and experienced Siklu team to Ceragon, and integration initiatives are underway and progressing according to plan."
  • The acquisition is expected to be accretive to the consolidated gross margins of Ceragon as Siklu's margins are at levels significantly higher than Ceragon's historical margins.
  • Ceragon expects to include the Siklu acquisition in its 2024 guidance, to be provided, in combination with the release of Ceragon's fourth quarter results, in early 2024.

Ceragon Networks to Participate in the Needham Virtual Security, Networking, & Communications Conference

Retrieved on: 
Wednesday, November 8, 2023

ROSH HA'AIN, Israel, Nov. 8, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that Doron Arazi, Chief Executive Officer, and Ronen Stein, Chief Financial Officer, will participate in a fireside chat at the 17th Annual Needham Virtual Security, Networking, & Communications Conference on November 14, 2023 at 9:20 a.m.

Key Points: 
  • ROSH HA'AIN, Israel, Nov. 8, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that Doron Arazi, Chief Executive Officer, and Ronen Stein, Chief Financial Officer, will participate in a fireside chat at the 17th Annual Needham Virtual Security, Networking, & Communications Conference on November 14, 2023 at 9:20 a.m.
  • ET.
  • A live video webcast of the fireside chat will be available on Ceragon's website at https://www.ceragon.com/investors/webcasts .
  • An archived webcast will remain posted on the Company's investor relations website for at least 30 days.

Ceragon Reports 11% Growth in Third Quarter of 2023, Narrows Full-Year Guidance Range, Raising Midpoint

Retrieved on: 
Monday, November 6, 2023

ROSH HA'AIN, Israel, Nov. 6, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the third quarter and nine months ended September 30, 2023.

Key Points: 
  • The pending acquisition of Siklu is expected to accelerate this trend, adding incremental revenue with key growth customers."
  • "We continue to view this pending acquisition as strategic, strengthening our end-to-end offering, expanding our position in key growth areas and enabling significant cross-selling opportunities."
  • "We expect a continued growth year over year in revenue and profitability in the fourth quarter, capping off a strong year for Ceragon and giving us significant momentum as we enter 2024."
  • Primary Third Quarter 2023 Financial Results:
    Revenues were $87.3 million, up 10.9% from $78.6 million in Q3 2022 and 1.3% compared to $86.2 million in Q2 2023.

Ceragon Networks to Acquire Siklu, Expanding Presence With Private Networks and Small Service Providers in North America

Retrieved on: 
Tuesday, October 24, 2023

ROSH HA'AIN, Israel, Oct. 24, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that it has entered into a definitive agreement to acquire Siklu, a provider of multi-Gigabit "wireless fiber" connectivity in urban, suburban and rural areas, for an enterprise value of $13-15 million. As consideration to Siklu's shareholders, Ceragon will issue approximately 1.5 million ordinary shares. Ceragon is expected to assume financial liabilities of approximately $10-12 million, of which approximately $2.5 million are classified as long-term debt.

Key Points: 
  • Ceragon is expected to assume financial liabilities of approximately $10-12 million, of which approximately $2.5 million are classified as long-term debt.
  • Ceragon is expected to generate approximately $25-$29 million in incremental 2024 revenue from this acquisition.
  • The acquisition is expected to be accretive to the consolidated gross margins of Ceragon as Siklu's margins are at levels significantly higher than Ceragon's historical margins.
  • Ceragon management expects the combination to improve Siklu's results by leveraging Ceragon's working capital management capabilities, as well as expanded profitability following synergies.

Fiber Broadband Association Awards Disruptive Fiber Concepts at Fiber Connect 2023

Retrieved on: 
Thursday, August 24, 2023

The Fiber Broadband Association today announced the winners of the Fiber Connect 2023 Proof of Concept (PoC) Showcase.

Key Points: 
  • The Fiber Broadband Association today announced the winners of the Fiber Connect 2023 Proof of Concept (PoC) Showcase.
  • The PoC Showcase featured seven demonstrations from Fiber Broadband Association member companies and their partners that exemplified fiber’s ability to disrupt markets and push the boundaries of what is possible.
  • Each demonstration highlighted the disruptive capabilities that are possible when fiber broadband is matched with innovative technologies and strategies,” said Gary Bolton, President and CEO of the Fiber Broadband Association.
  • All PoC demonstrations were evaluated live at Fiber Connect 2023 by industry analysts.

Ceragon Networks Reports 22% Growth in Second Quarter and Raises Full Year Guidance

Retrieved on: 
Tuesday, August 1, 2023

ROSH HA'AIN, Israel, August 1, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the second quarter and six months ended June 30, 2023.

Key Points: 
  • (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today reported its financial results for the second quarter and six months ended June 30, 2023.
  • During the quarter, we again recorded bookings that exceeded our revenue levels which improved our visibility into the third quarter and strengthened our confidence for the full year.
  • "Our year-to-date performance and improved visibility into the third quarter has given us the confidence to increase our full-year guidance and narrow the range to increase the midpoint."
  • Primary Second Quarter 2023 Financial Results:
    Revenues were $86.2 million, up 21.9% from $70.7 million in Q2 2022 and up 3.3% from $83.4 million in Q1 2023.

Ceragon Networks Names Ilan Rosen as Chairman of the Board

Retrieved on: 
Monday, July 31, 2023

ROSH HA'AIN, Israel, July 31, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that on July 24, 2023 the Board of Directors named Ilan Rosen, a member of the Board of Directors since July 2021, as its new Chairman.

Key Points: 
  • ROSH HA'AIN, Israel, July 31, 2023 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that on July 24, 2023 the Board of Directors named Ilan Rosen, a member of the Board of Directors since July 2021, as its new Chairman.
  • Mr. Rosen has significant expertise in concluding successful mergers and acquisitions, deploying value-creation strategies, and enhancing corporate governance.
  • From 1997-2012 Mr. Rosen served as Chairman of the Board of Tdsoft LTD which later merged into VocalTec.
  • In the years 1996-2003 Mr. Rosen served as VP of Investments at Teledata Communications, where he was an active Chairman of various Teledata Subsidiaries.