Ceragon reports Q4 earnings, reaffirms 2026 growth targets

Ceragon Networks (NASDAQ:CRNT) reported fourth-quarter and full-year 2025 results on Tuesday that aligned with its January preliminary update, signaling a year of operational stabilization and a clearing path for double-digit growth in 2026.

The Rosh Ha'ain, Israel-based wireless transport specialist posted fourth-quarter revenue of $82.3 million, a decline compared to the $106.9 million reported in the same period last year.

The dip was primarily attributed to delivery deferrals from a major North American customer, a timing shift that management previously clarified was not an order cancellation.

For the full year, Ceragon generated $338.7 million in revenue.

While the company reported a GAAP net loss of $2.1 million for 2025, it remained profitable on a non-GAAP basis, delivering a full-year non-GAAP net income of $8.2 million.

Despite the near-term revenue headwinds, the underlying demand for Ceragon’s 5G backhaul and private network solutions appears robust.

Chief Executive Officer Doron Arazi highlighted that the company’s backlog in North America nearly doubled over the course of 2025, providing significant visibility into the coming year.

This momentum in the U.S. and Canada, combined with a stabilization of the market in India, serves as the foundation for the company's ambitious 2026 outlook.

Management also reiterated its full-year 2026 revenue guidance of $355 million to $385 million.

At the midpoint, this represents approximately 9% growth over 2025 levels.

The company is also targeting a non-GAAP operating margin of 6.5% to 7.5%, driven by a higher mix of software and managed services alongside the rollout of its new "system-on-a-chip" technology.