Ceragon Networks (CRNT) Q3 2026 earnings summary

Executive summary

• Q3 revenue was $95.524M versus $85.484M a year earlier; non-GAAP operating margin was 8.5%, and non-GAAP diluted EPS was $0.07.

• Renewed Tier 1 carrier demand in North America and healthy underlying demand in India supported growth, despite significant supply constraints.

• Management sees profitable growth potential in 2027, supported by market-share opportunities, new technology and stronger regional demand.

Financial highlights

• Non-GAAP gross profit was $34.790M versus $29.906M; non-GAAP gross margin was 36.4% versus 35.0%.

• Non-GAAP operating income was $8.080M versus $5.3M; non-GAAP net income was $6.216M versus $1.735M.

• GAAP gross profit was $34.3M and gross margin was 36.0%; GAAP operating income was $4.5M and net income was $2.4M, or $0.03 per diluted share.

• Non-GAAP operating expenses included $2.1M of acquisition integration-related expense for strategic non-recurring activities.

• Nine-month revenue was $274.4M versus $256.4M; non-GAAP operating income was $16.2M versus $14.5M, and non-GAAP net income was $8.6M versus $6.8M.

Outlook and guidance

• FY 2026 revenue guidance remains $365M–$375M; the wide Q4 range reflects component supply issues, not demand.

• At the revenue-guidance midpoint, non-GAAP gross margin guidance is 33.5%–34.5% and operating margin guidance is 5%–6%.

• 2027 planning is early, with a flat baseline and growth opportunities including North American contribution from the Cambium disruption.

• India volumes are expected to be comparable in 2027 to 2026, with potential upside from modernization and a prospective Tier 1 RFP; EMEA is expected to grow significantly.