Financial Data and Key Metrics Changes - Revenues for Q4 2020 were $74 million, up 5% compared to Q3 2020 and up 4% compared to Q4 2019 [33] - For the full year 2020, revenues were almost $263 million, down 8% from 2019, reflecting a weak first half due to COVID-19 [36] - Non-GAAP gross profit for Q4 was $21.4 million, resulting in a non-GAAP gross margin of 28.9%, down from 31.3% in Q4 2019 [38] - Net loss on a non-GAAP basis for Q4 was $3.5 million or $0.04 per diluted share, while GAAP net loss was $6.3 million or $0.08 per diluted share [45] Business Line Data and Key Metrics Changes - Europe had its strongest quarter in the last three years, reflecting initial revenues from 5G projects [34] - Strongest revenue for the quarter came from India, driven by ongoing deliveries for Bharti [34] - North America and Africa also reported strong revenues, with Africa benefiting from shipments for the Orange Niger project [35] Market Data and Key Metrics Changes - The booking to revenue ratio for Q4 was slightly below one, but the annual book-to-bill ratio for 2020 was above 1, indicating overall bookings were slightly higher than 2019 [37] - The U.S. and China are leading the 5G transition, with Ceragon increasing its 5G design wins to nine in Q4 [25] Company Strategy and Development Direction - Ceragon aims to leverage the 5G evolution, positioning itself as a key player in the transition from 4G to 5G [12][24] - The company focuses on providing differentiated solutions that meet the demands of 5G networks, including massive capacity and low latency [15][22] - Ceragon is targeting revenue growth in 2021, with expectations of reaching between $275 million to $295 million [49] Management's Comments on Operating Environment and Future Outlook - Management noted that the macro environment remained challenging, but the vaccine rollout in Israel is inspiring [8] - The company anticipates a slow start in the first half of 2021, with expectations of improved performance in the second half as 5G deployments ramp up [48][76] - Management expressed confidence in maintaining good control and being well-positioned to take advantage of long-term opportunities despite ongoing uncertainties [48] Other Important Information - The company has reduced inventory to $50.6 million, down from $62.1 million at the end of 2019, and receivables are now at $107.4 million, down from $118.5 million [46] - Operating expenses for Q4 were $20.8 million, in line with expectations, with R&D expenses slightly increasing due to chip development [40] Q&A Session Summary Question: Can you discuss the gross margin variance in the quarter? - Management explained that the low gross margin was impacted by higher supply chain costs due to COVID, customer agreements, and less favorable customer mix [52][56] Question: What is the expectation for operating expenses in 2021? - Management expects a slight decrease in R&D expenses and an increase in sales and marketing expenses, resulting in overall operating expenses remaining in the $20 million to $22 million range [61] Question: How rich is the pipeline activity for 4G and 5G? - Management indicated that while 4G deployments continue to be significant, the 5G pipeline is not large yet, with expectations for significant orders in the second half of the year [69][70] Question: Will the company face chipset shortages? - Management noted that while they produce their own chipsets, they still rely on external factories, which could lead to some shortages [88] Question: What are the expectations for profitability in 2021? - Management acknowledged that the first half of the year may see losses, with a potential turnaround in profitability expected in the second half as contracts ramp up [75][76]

Financial Data and Key Metrics Changes - Revenues for Q3 2020 were $70.6 million, nearly back to pre-COVID levels, with a gross margin above 33%, the highest in over a year [6][19] - Gross profit on a non-GAAP basis was $23.6 million, resulting in a gross margin of 33.5%, up from 26.5% in Q2 2020 and 2.2% in Q3 2019 [22] - Non-GAAP net profit was $2.3 million or $0.03 per diluted share, while GAAP net profit was $1.6 million or $0.02 per diluted share [23] Business Line Data and Key Metrics Changes - Strong revenue growth was noted in India due to ongoing deliveries for the Bharti project, while North America and Europe showed stable revenues from ISP and small 5G projects [20] - Africa experienced an exceptionally strong quarter due to shipments for the Orange Niger project, while LATAM faced a weak quarter with project freezes due to COVID-19 [20][15] Market Data and Key Metrics Changes - The demand for network capacity has dramatically increased, leading to more 5G design wins and ongoing large-scale 4G expansion projects [17] - The ISP market is benefiting from increased demand for bandwidth due to COVID-19, particularly in North America and parts of Europe [16] Company Strategy and Development Direction - The company is focusing on enabling operators to deploy networks faster while controlling costs, shifting towards an open network architecture [8][9] - The release of the new IP-50 platform is aimed at supporting the open wireless architecture, positioning the company as a leader in 5G technology [9][13] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism for Q4 2020, projecting revenues between $69 million and $75 million, reflecting uncertainty due to potential COVID-19 lockdowns [25] - For 2021, management anticipates a better environment than 2020, driven by 5G design wins and continued 4G deployments, although variability remains high [32] Other Important Information - The company reduced inventory by $2 million during the quarter, with receivables down $10 million since the beginning of the year [24] - Supply chain issues are present but not significant, with increased costs for air shipments due to prioritization of medical supplies [37] Q&A Session Summary Question: Guidance range assumptions - The low end of the guidance assumes shutdowns mainly in Europe and continued project freezes in LATAM, while the high end assumes some releases from lockdowns [27][30] Question: 2021 environment outlook - Management expects a better year than 2020, driven by 5G design wins and continued 4G deployments, but acknowledges high variability in forecasts [32] Question: Supply chain constraints - The supply chain is generally open, with some minor issues, particularly with air shipments being more expensive due to COVID-19 [37] Question: Demand in India - Demand in India is strong, with operators like Jio and Bharti continuing their plans despite COVID-19, while Vodafone's situation remains uncertain [40][41] Question: Impact of Huawei ban - The Huawei ban may lead Vodafone to choose other vendors, potentially benefiting the company [42]

Financial Performance - Q3 2020 revenues reached $70581 thousand [9] - Gross profit for Q3 2020 was $23611 thousand, resulting in a gross margin of 335% [9] - Non-GAAP Net income (loss) for Q3 2020 was $2300 thousand [9] - Total cash & cash equivalents at the end of Q3 2020 were $29155 thousand [11, 13] Geographic Revenue Distribution (Q3 2020) - Europe accounted for 14% of revenues [7] - Africa contributed 14% to revenues [7] - North America represented 14% of revenues [7] - India accounted for 24% of revenues [7] - APAC (Asia-Pacific) generated 20% of revenues [7] - Latin America contributed 14% to revenues [7] Balance Sheet Data (Q3 2020) - Trade Receivables amounted to $108394 thousand [13] - Inventory was valued at $51869 thousand [13] - Working capital stood at $102067 thousand [13] - Loans totaled $17879 thousand [13] - Shareholders' Equity was $149662 thousand, representing 55% of total assets [13]

Ceragon Networks Ltd. (NASDAQ:CRNT) Q2 2020 Earnings Conference Call August 3, 2020 9:00 AM ET Company Participants Osi Sessler - Head, Investor Relations Ira Palti - President and Chief Executive Officer Ran Vered - Chief Financial Officer Conference Call Participants Alex Henderson - Needham & Company George Iwanyc - Oppenheimer Gunther Karger - Discovery Group Operator Good day, everyone. Welcome to the Ceragon Networks Limited Second Quarter 2020 Results Conference Call. TodayÂ's call is being recorded ...

Challenge us Q2 2020 Financial Review August 2020 Proprietary and Confidential August 2020 Safe Harbor Statement This presentation contains statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933 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 C ...

Financial Performance - Q1 2020 revenue was $55871 thousand, a decrease compared to previous periods[7] - Q1 2020 gross profit was $14038 thousand, with a gross margin of 25.1%[7] - Q1 2020 Non-GAAP Net loss was $6705 thousand, resulting in a Non-GAAP EPS of -$0.08[7] Geographic Revenue Distribution (Q1 2020) - Europe accounted for 15% of revenues[5] - Africa represented 6% of revenues[5] - North America contributed 13% to revenues[5] - India accounted for 25% of revenues[5] - APAC (Asia-Pacific) made up 21% of revenues[5] - Latin America comprised 20% of revenues[5] Balance Sheet Data (Q1 2020) - Cash and cash equivalents totaled $44120 thousand[9, 11] - Trade receivables amounted to $104185 thousand[11] - Inventory was valued at $59659 thousand[11] - Loans outstanding were $32855 thousand[11]

Ceragon Networks Ltd. (NASDAQ:CRNT) Q1 2020 Earnings Conference Call May 4, 2020 9:00 AM ET Company Participants Ira Palti - President and CEO Ran Vered - CFO Conference Call Participants Alex Henderson - Needham & Company George Iwanyc - Oppenheimer Gunther Karger - Discovery Group Operator Good day, everyone. Welcome to the Ceragon Networks Limited First Quarter 2020 Results Conference Call. Today's call is being recorded and will be hosted by Mr. Ira Palti, President and CEO of Ceragon Networks. Today's ...

As filed with the Securities and Exchange Commission on March 31, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ ...

Challenge us Q4 2019 Financial Review February 2020 Proprietary and Confidential Feb 2020 Safe Harbor Statement This presentation contains statements concerning Ceragon's future prospects that are "forward-looking statements" within the meaning of the Securities Act of 1933 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 o ...

Ceragon Networks Ltd. (NASDAQ:CRNT) Q4 2019 Earnings Conference Call February 10, 2020 9:00 AM ET Company Participants Ira Palti - President and CEO Ran Vered - CFO Conference Call Participants George Iwanyc - Oppenheimer Alex Henderson - Needham & Company Gunther Karger - Discovery Group Operator Good day, everyone. Welcome to the Ceragon Networks Limited Fourth Quarter and Full Year 2019 Results Conference Call. Today's call is being recorded and will be hosted by Mr. Ira Palti, President and CEO of Cerag ...