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Sep 30, 2025
Ceragon Q3 2025 Earnings Report
Ceragon delivered stable Q3 2025 results with steady revenue and positive non-GAAP profitability, despite flat GAAP net income.
Key Takeaways
Ceragon reported $85.5 million in revenue for Q3 2025. While GAAP net income was breakeven, non-GAAP net income reached $1.7 million. Gross margin remained healthy, and the company maintained strong cash and cash equivalents.
Revenue reached $85.5 million in Q3 2025.
GAAP net income was flat at $28,000, while non-GAAP net income was $1.7 million.
Cash and cash equivalents increased to $43.0 million.
Gross margin held steady at 34.3% GAAP and 35.0% non-GAAP.
Revenue by Geographic Location
Forward Guidance
Ceragon expects FY2025 revenue to be approximately $340 million with continued non-GAAP profitability and positive cash flow, supported by improved market visibility and customer momentum.
Positive Outlook
- Full-year 2025 revenue expected to reach approximately $340 million
- Anticipated continued non-GAAP profitability
- Positive cash flow forecasted for full-year 2025
- Improved visibility in key markets like North America and India
- Expected growth in 2026 supported by AI and network utilization trends
Challenges Ahead
- Foreign exchange fluctuations affected GAAP earnings in Q3
- Q3 2025 revenue declined 16.7% YoY
- Operating income significantly decreased from Q3 2024
- Flat GAAP net income indicates continued margin pressure
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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