Ceragon Reports 18.3% Increase in Quarterly Revenue, GAAP EPS of $0.04 Per Share in the Fourth Quarter

Core Insights - Ceragon achieved record operating profit and highest revenue levels since 2012, indicating successful execution of its growth strategy [4][6] - The company expanded its presence in India and grew its private network business, supported by two acquisitions [4][6] - Management expresses cautious optimism for 2025, anticipating growth and improved profitability amid initial recovery signs in the CSP market [4] Q4 2024 Financial Highlights - Revenues reached $106.9 million, an increase of 18.3% from $90.4 million in Q4 2023 and 4.1% from $102.7 million in Q3 2024 [5][6] - GAAP operating income was $9.5 million, compared to $4.2 million in Q4 2023 and $14.6 million in Q3 2024 [5][6] - Net income on a GAAP basis was $3.6 million, or $0.04 per diluted share, compared to a loss of $(1.2) million in Q4 2023 [6][7] FY 2024 Financial Highlights - Total revenues for FY 2024 were $394.2 million, up 13.5% from $347.2 million in 2023, marking the highest level since 2012 [8][9] - GAAP operating income reached a record $38.7 million, compared to $21.2 million in 2023 [8] - GAAP net income was $24.1 million, or $0.27 per diluted share, compared to $6.2 million in 2023 [9] Revenue Breakdown by Geography - In Q4 2024, revenue distribution was as follows: India 52%, EMEA 15%, North America 12%, APAC 11%, and Latin America 10% [11] - India achieved all-time record quarterly revenues, with improving visibility for 2025 commercial terms with major customers [6][11] Outlook for 2025 - Management expects revenue between $390 million and $430 million for 2025, including contributions from the E2E acquisition [11] - Non-GAAP operating margins are anticipated to be at least 10% at the low end of the revenue range, with improved free cash flow compared to 2024 [11]