Welcome to our dedicated page for Ceragon Networks news (Ticker: CRNT), a resource for investors and traders seeking the latest updates and insights on Ceragon Networks stock.
Ceragon Networks Ltd (NASDAQ: CRNT) is renowned as the world’s leading wireless backhaul specialist, providing high-capacity wireless connectivity solutions across the globe. Specializing in 5G and 4G broadband wireless connectivity, Ceragon enhances operational efficiency for service providers, public safety organizations, government agencies, and utility companies. Their innovative solutions empower these entities to deliver mission-critical multimedia services and other high-speed, reliable applications.
Ceragon’s core technology, based on a unique multicore approach, offers highly reliable, high-capacity wireless transport with minimal resource utilization. This efficiency translates into increased productivity and simplified network modernization. The company’s IP-50 and IP-20 platforms, along with the PointLink solutions, are instrumental in delivering these capabilities.
Geographically, Ceragon generates its major revenue from India, though it has a significant presence in North America, Europe, Africa, Asia-Pacific, the Middle East, and Latin America. Their deployment spans over 600 service providers and more than 1,600 private network owners in over 130 countries. With a complete portfolio of turnkey end-to-end AI-based managed and professional services, Ceragon ensures efficient network rollout and optimization to maximize value for customers.
Recent achievements include securing a substantial $150 million contract with a Tier 1 operator in India for a network modernization project, and the acquisition of Siklu, enhancing Ceragon’s portfolio with advanced millimeter wave solutions. In 2024, Ceragon expects to deliver revenues between $385-405 million and has moved its long-term target for $500 million in annual revenue forward by 12 months to 2026.
The company is also committed to providing solutions for private networks, particularly in the energy sector, evidenced by their recent strategic deals worth $10 million in Q1 2024. Ceragon continues to evolve with innovations like the Neptune SoC-based millimeter wave technology capable of 100 Gbps, showcased at Mobile World Congress 2024.
For more information, visit www.ceragon.com.
Ceragon Networks Ltd. (NASDAQ: CRNT) reported its Q1 2021 financial results, with revenues of $68.3 million, a 22.2% increase from Q1 2020, but down 7.7% from Q4 2020. Gross profit reached $20.1 million, yielding a gross margin of 29.5%. Ceragon secured three new 5G design wins and experienced strong bookings despite ongoing component shortages. The company anticipates annual revenue between $275-$295 million, although supply chain issues may delay Q2 revenues. The transition in leadership will see Doron Arazi become the new CEO.
Ceragon Networks Ltd. (NASDAQ: CRNT) announced the appointment of Doron Arazi as the new CEO, effective July 2021, succeeding Ira Palti, who will continue as Vice Chairman. Arazi, previously the Deputy CEO and CFO, significantly increased regional revenue in APAC and India from $110M in 2016 to $179M in 2018 and eliminated over $50M of company debt. He emphasized leveraging Ceragon’s reputation and technology during the transition to 5G. The Board expressed confidence in Arazi’s leadership to capitalize on global opportunities.
Ceragon Networks Ltd. (NASDAQ: CRNT) will announce its Q1 2021 earnings results on May 3, 2021, before market opening. A Zoom conference will follow at 9:00 a.m. ET for discussion and Q&A. Ceragon, a leader in wireless hauling solutions, supports service providers and government agencies worldwide with efficient 4G and 5G networks. Its unique technology enables high-capacity and rapid deployment solutions. Interested investors can register here.
Ceragon Networks Ltd (NASDAQ: CRNT) has been chosen by TIM Brazil to participate in 5G OpenRAN trials alongside Telecom Infra-Project (TIP) and INATEL. The open field trial at INATEL's campus in Santa Rita do Sapucaí, Brazil, will evaluate various OpenRAN component combinations for effective network performance. Ceragon will deploy its advanced IP-50E millimeter wave solution, boasting capabilities of up to 20 Gbps. This collaboration signifies a strengthening partnership and highlights Ceragon's commitment to innovative solutions in Brazil's telecommunications sector.
Ceragon Networks Ltd (NASDAQ: CRNT) announced a follow-on frame agreement with a Tier 1 Operator in the Pacific Rim valued at up to $23M for 2021-2022. This agreement aims to enhance network coverage and reliability as the operator transitions to 5G technology. Ceragon's solutions will help extend coverage to rural areas, significantly reducing build service costs. The operator has previously launched 5G services with over 700 sites and achieved record site deliveries with Ceragon’s support.
Ceragon Networks Ltd. (NASDAQ: CRNT) announced a partnership with a Colombian Tier-1 operator to enhance 4G and future 5G network capabilities. The agreement, valued at over $26 million for 2021 and 2022, will support extensive network expansion and a government-sponsored rural connectivity project. Ceragon's multicore technology will enable high-capacity backhaul infrastructure across thousands of sites, enhancing operational efficiency and service quality. This collaboration aims to bridge the digital divide, especially in rural Colombia, promoting socio-economic development.
Ceragon Networks Ltd. (NASDAQ: CRNT) reported Q4 2020 revenues of $74.0 million, up 3.8% year-over-year, and $262.9 million for the full year, down 7.9% from 2019. Operating loss was $(1.5) million in Q4, with a GAAP EPS of $(0.08). Gross margin decreased to 29.1% in Q4 from 31.7% a year prior, attributed to customer agreements and supply chain costs. The company anticipates 2021 revenue between $275-$295 million, citing ongoing 5G momentum as a growth driver.
Ceragon Networks Ltd. (NASDAQ: CRNT) will announce its fourth quarter and full year earnings results on February 8, 2021, before market opens. A conference call will follow at 9:00 a.m. ET to discuss the results, accessible via the USA at (877)-692-8955 or internationally at +1 (234)-720-6979. A live webcast is available online, with a replay option lasting until March 8, 2021. Ceragon specializes in innovative wireless backhaul and fronthaul solutions for 5G and 4G networks, positioning itself as a key player in enhancing service efficiency for customers globally.
Ceragon Networks Ltd. (NASDAQ: CRNT) reported a net profit of $1.6 million for Q3 2020, despite COVID-19 challenges, benefiting from ISP and 4G operator projects. Revenues were $70.6 million, slightly down from $72.2 million in Q3 2019 but up from $62.4 million in Q2 2020. The gross margin improved to 33.4%, and operating income was $3.4 million. Progress was noted in 5G initiatives with new design wins and initial orders. Cash equivalents decreased to $29.2 million from $35.2 million in Q2 2020. The company expresses confidence in its position amid rising demand for broadband expansion.
Ceragon Networks Ltd. (NASDAQ: CRNT) will announce its third quarter 2020 financial results on November 2, 2020, before market hours. A conference call is scheduled for 9:00 a.m. EST to discuss these results. Investors can join by calling (844) 291-6360 in the USA or +1 (234) 720-6993 internationally, using access code 2739037. The call will also be available via a live webcast on Ceragon's investor page. A replay will be accessible through December 2, 2020.
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