Ceragon Networks Ltd 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- Ceragon reported second quarter 2026 revenue of $93.9 million, a 14.2% increase year over year.
- Non-GAAP EPS was $0.02 for Q2 2026, compared to $0.03 in Q2 2025.
- Bookings in Q2 2026 reached the highest level since Q1 2024, with the first half of 2026 bookings and book-to-bill ratio being the highest in ten years for any first half period.
- Gross profit on a non-GAAP basis was $30.3 million with a gross margin of 32.2%, down from 35.2% in Q2 2025 due to geographic and product mix and cost pressures.
- Operating income on a non-GAAP basis was $4 million or 4.2% of revenues, down from $4.7 million or 5.7% in Q2 2025, impacted by foreign currency movements.
- Net income on a non-GAAP basis was $1.7 million or $0.02 per diluted share, compared to $2.5 million or $0.03 per diluted share in Q2 2025.
- Cash position at the end of Q2 2026 was $34.8 million with net positive cash of approximately $22.8 million.
- Inventory was $59.5 million and trade receivables were $101.3 million with days sales outstanding at 107 days.
- Strong revenue regions were India with $45 million and North America with $21 million in Q2 2026.
- Ceragon secured a two-year $3.4 million managed services contract with a major mobile operator in Mexico and a five-year agreement worth up to $70 million with a tier one operator in APAC.
- Bookings in EMEA were the highest in almost three years in Q2 2026.
- Private network bookings globally are accelerating with diverse use cases and longer sales cycles, expected to be a meaningful contributor over time.
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Transcript
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Ladies and gentlemen, thank you for standing by. Our call will begin shortly. Ladies and gentlemen, thank you for standing by, and welcome to Ceragon's second quarter 2026 earnings call. Our presentation today will be followed by a question and answer session, at which time, if you wish to ask a question, you will need to raise your hand using your mobile or desktop application, or press star nine on your telephone keypad and wait for your name to be announced. I must advise you that this call is being recorded today. I'd now like to hand over the call to our first speaker today, Rob Fink, head of investor relations.
Rob, please go ahead. Thank you, operator, and good morning, everyone.
Hosting today's call are Doron Arazi, Ceragon's Chief Executive Officer, and Ronen Stein, Chief Financial Officer. Before we start, please note that today's discussion includes forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, and the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among other things, projected financial performance, future initiatives, business outlook, development efforts, and anticipated results, timelines, and other matters. Forward-looking statements are based on expectations and assumptions and involve risks and uncertainty that could cause actual results to differ materially.
These risks and uncertainties include, among others, global and regional economic conditions in Israel and the region, fluctuations in exchange rate, customer concentration, ordering patterns, supply chain challenges, and others matters further detailed in Ceragon's most recent annual report on Form 20-F and other documents that are filed with the Securities and Exchange Commission. Forward-looking statements are accurate only as the date they are made, and Ceragon undertakes no obligation to update them. Ceragon's public filings are available on the Securities and Exchange Commission's website at sec.gov and on Ceragon's website at ceragon.com. Also, today's call will include certain non-GAAP measures. For a reconciliation between GAAP and non-GAAP results, please see the table attached to the press release that was issued earlier today, which is posted on the investor relations section of Ceragon's website. With that, I will now turn the call over to Doron.
Doron, the call is yours.
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