Financial Performance - Q3 2024 revenues were $102.7 million, representing a 17.7% increase from $87.3 million in Q3 2023 and a 6.9% increase from $96.1 million in Q2 2024[5] - GAAP net income for Q3 2024 was $12.2 million, or $0.14 per diluted share, compared to $3.4 million, or $0.04 per diluted share in Q3 2023[6] - Non-GAAP operating profit increased approximately 35% year-over-year, with a non-GAAP operating margin exceeding 10%[4] - Net income for Q3 2024 reached $12,217,000, a significant increase of 263% compared to $3,367,000 in Q3 2023[31] - GAAP gross profit for Q3 2024 was $34,940,000, representing a 15% increase from $30,274,000 in Q3 2023[33] - Non-GAAP net income for Q3 2024 was $14.1 million, or $0.16 per diluted share[7] - GAAP basic net income per share for Q3 2024 was $0.14, compared to $0.04 in Q3 2023, indicating a 250% increase[35] Revenue Sources - India accounted for 49% of total revenues in Q3 2024, with record quarterly revenues and an expanding pipeline of customer opportunities[11] - North America generated over $20 million in revenue for seven consecutive quarters, with high customer satisfaction from completed projects[8] Cash Flow and Balance Sheet - The company generated more than $10 million in free cash flow in Q3 2024, strengthening its balance sheet[4] - Cash and cash equivalents increased to $34.0 million as of September 30, 2024, up from $26.3 million on June 30, 2024[9] - Cash and cash equivalents at the end of Q3 2024 totaled $34,014,000, slightly up from $33,966,000 at the end of Q3 2023[31] - Operating cash flow for the nine months ended September 30, 2024, was $25,069,000, up from $19,927,000 in the same period last year, reflecting a growth of 26%[31] Expenses and Investments - Research and development expenses for Q3 2024 were $8,750,000, an increase of 17% from $7,454,000 in Q3 2023[35] - Stock-based compensation expenses for the nine months ended September 30, 2024, were $3,377,000, up from $3,025,000 in the same period last year[31] - The company experienced a net cash used in investing activities of $12,092,000 for the nine months ended September 30, 2024, compared to $9,690,000 in the same period of 2023[31] Future Outlook - Management reiterated its 2024 revenue guidance of $390 million to $400 million, indicating growth of 12% to 15% compared to 2023 revenue[19] - The company is focusing on revenue diversification and expanding its presence in private networks, particularly in North America and India[4]

Revenue Diversification, Expense Management, Enable Consistent Profitability;Management Reiterates Midpoint of Full-Year 2024 Outlook  ROSH HA'AIN, Israel, Nov. 13, 2024 /PRNewswire/ -- Ceragon (NASDAQ: CRNT), a leading solutions provider of end-to-end wireless connectivity, today reported its financial results for the third quarter period ended September 30, 2024.Q3 2024 Financial Highlights: Revenues of $102.7 million Operating income of $14.6 million on a GAAP basis, or $15.8 million on a non-GAAP basis ...

Company Participation in Investor Conferences - Ceragon will participate in the 18th Annual Needham Security, Networking, and Communications Conference on November 14, 2024, and the 13th Annual ROTH Technology Conference on November 20, 2024, conducting 1x1 meetings throughout both days [1] Company Overview - Ceragon is a global innovator and leading solutions provider of end-to-end wireless connectivity, specializing in transport, access, and AI-powered managed & professional services [2] - The company empowers customers to enhance operational efficiency and improve the quality of experience for end users [2] Customer Base and Solutions - Ceragon serves a diverse customer base including service providers, utilities, public safety organizations, government agencies, and energy companies, relying on its wireless expertise for 5G & 4G broadband wireless connectivity and mission-critical services [3] - The company has over 600 service providers and more than 1,600 private network owners in over 130 countries utilizing its solutions [3] - Ceragon's offerings include hardware, software, and managed & professional services, enabling customers to modernize their networks efficiently and cost-effectively [3]

ROSH HA'AIN, Israel, Oct. 22, 2024 /PRNewswire/ -- Ceragon (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced that it will release its earnings results for the third quarter ended September 30, 2024 on Wednesday, November 13, 2024, before the market opens.The Company will host a Zoom conference call on the same day at 8:30 a.m. ET to discuss the results, followed by a question-and-answer session for the investment community. Investors are invited to ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on ke ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potent ...

Company Overview - Ceragon Networks (NASDAQ: CRNT) is a leading provider of end-to-end wireless connectivity solutions, specializing in transport, access, and AI-powered managed and professional services [3][5] - The company serves a diverse range of customers, including service providers, utilities, public safety organizations, government agencies, and energy companies, with solutions deployed in over 130 countries [4] Recent Developments - Ceragon's CEO, Doron Arazi, will participate in the Lake Street Capital Markets 8th Annual Best Ideas Growth "Big8" Conference in New York City, engaging in one-on-one meetings with institutional investors to discuss the company's growth strategy and operational leverage [1][2] Product and Service Offerings - Ceragon provides innovative, high-capacity wireless solutions that are reliable and quick to deploy, aimed at modernizing communication networks while minimizing total cost of ownership (TCO) through efficient use of resources [5] - The company's solutions are designed to support 5G and 4G broadband wireless connectivity, as well as mission-critical services, enhancing operational efficiency and user experience [4][5]

Exhibit 99.1 Page CERAGON NETWORKS LTD. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 2024 U.S. DOLLARS IN THOUSANDS UNAUDITED INDEX | --- | |-----------------------------------------------------------------------| | | | Interim Condensed Consolidated Balance Sheets | | Interim Condensed Consolidated Statements of Operations | | Interim Condensed Consolidated Statements of Comprehensive Income | | Interim Condensed Consolidated Statements of Changes in Shareholders' | | ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time. Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phas ...

Financial Data and Key Metrics - Revenue for Q2 2024 was $96.1 million, up 11.5% from $86.2 million in Q2 2023 [15] - Non-GAAP gross profit was $33.8 million, an increase of 11.1% compared to $30.4 million in Q2 2023 [16] - Non-GAAP gross margin was 35.2%, slightly down from 35.3% in Q2 2023 [16] - Non-GAAP operating income was $13.1 million, compared to $7.4 million in Q2 2023, representing 13.7% of revenue [19] - Non-GAAP net income was $9.9 million or $0.11 per diluted share, compared to $4.4 million or $0.05 per diluted share in Q2 2023 [19] - Cash position at the end of Q2 2024 was $26.3 million, down from $28.2 million at the end of 2023 [20] Business Line Data and Key Metrics - Private network bookings in the first half of 2024 were up more than 35% compared to the previous year [6] - New private network customers accounted for over 50% of overall new customers in terms of both accounts and dollars [6] - Smart Activation Key software adoption has been significant, with tens of thousands of licenses secured in the first half of 2024 [9] - The IP-50EX, an ultra-compact e-band radio, continues to gain customer interest [9] Market Data and Key Metrics - North America revenue was $23 million, with strong private network bookings and nine new customers added [10] - India revenue was $36 million, driven by 4G expansion in rural areas and 5G upgrades [12] - EMEA revenue was $19 million, with one customer contributing over 10% of total revenue [15] - Latin America and APAC regions also saw significant growth in private network business [13] Company Strategy and Industry Competition - The company is diversifying its business by increasing market share in private networks and moving up the value chain from equipment provider to network operation optimization [5] - The integration of the Siklu acquisition is progressing as planned, enhancing competitive positioning with ISP and private network customers [6] - The company is focusing on reducing dependency on 5G-related spending by increasing market share in private networks and capitalizing on 4G upgrades [8] - The company is competing against Chinese vendors in regions like Latin America and APAC, with encouraging results [13] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy, citing strong demand across global markets and progress in private network initiatives [8] - The backlog in North America and India provides confidence in continued growth momentum into the second half of 2024 [8] - The company expects full-year 2024 revenue of $385 million to $405 million, representing growth of 11% to 17% compared to 2023 [21] - Non-GAAP operating margins are targeted to be at least 10% at the midpoint of the revenue guidance [21] Other Important Information - The company collected $8 million out of a $12 million debt settlement agreement, with the second installment of $4 million expected to be reflected in Q3 results [18] - Inventory levels decreased to $59.5 million at the end of Q2 2024, down from $68.8 million at the end of 2023 [20] - DSO (Days Sales Outstanding) stood at 114 days, with trade receivables at $112.9 million [21] Q&A Session Summary Question: Competitive Landscape and MaxLinear Chip - The company has not seen any significant implementation of new chips from competitors like MaxLinear in the field [22][23] Question: Exposure to Eastern Europe and Japan - The company has minimal exposure to Eastern Europe and Japan, with business in these regions being insignificant [24][25] Question: Pipeline and Deal Closure Rates - The company is seeing benefits from its focus on private networks, which is helping to offset slowdowns in Tier 1 operators in certain regions [26][27] Question: Private Network Growth and Resource Allocation - The company plans to adjust investments in sales and marketing to leverage momentum in private networks while maintaining operating margins [30] Question: Private Networks in Europe - Despite geopolitical uncertainties, the company sees increasing opportunities for private networks in Europe [32] Question: Neptune Chip Update - The Neptune chip is nearing the end of post-silicon validation, with the first product based on the chip expected to be commercially deployed in 2025 [35][45] Question: Software and Managed Services Revenue - The company sees significant potential in software and managed services, particularly with smaller players and private networks, but adoption by Tier 1 operators will take time [36][37] Question: Huawei Rip and Replace Opportunities - The company is engaging with new prospects in Europe due to bans on Chinese vendors, though deployment in Europe is slower compared to other regions [38] Question: Tier 1 Operators in the U.S. - The company serves one Tier 1 operator in the U.S. with meaningful business, while engagement with others is limited due to their extensive fiber networks [39] Question: Acquisition Strategy - The company continues to pursue small M&A opportunities to augment its organic growth strategy [40] Question: G&A Gain and Non-GAAP Reporting - The $4 million gain from debt collection is included in non-GAAP results due to accounting consistency, but management suggests using $0.07 per share as a baseline for normal operations [41][42][43] Question: Competitive Chipsets - The company is not aware of any next-generation chips from competitors other than MaxLinear and believes it has a 2-3 year advantage with its Neptune chip [44] Question: Neptune Chip Commercialization - The company expects a gradual ramp-up of Neptune-based products in 2025, with more significant revenue impact in 2026 and 2027 [46][47]