Ceragon Networks Ltd. Q1 2026 Earnings Recap

Shares were essentially unchanged, edging up 0.8% as investors digested results and commentary that largely aligned with prior expectations, reflecting stable execution without meaningful surprises on growth or margin trends.

Key Takeaways

• Revenue for Q1 2026 came in at $85 million with non-GAAP EPS of $0.01.
• India showed strong demand with $86 million in bookings, driven by significant wins involving the new IP-50EXA platform.
• North America maintained steady demand, though bookings from a key Tier-1 carrier moderated following elevated activity in H2 2025; expectations for 2026 remain stable.
• Gross margin benefitted from a favorable product and geographic mix alongside higher software license revenue but faced headwinds from intensified macro and industry cost pressures.
• Management highlighted ongoing supply chain challenges and prolonged sales cycles in private networks, underscoring a cautious near-term outlook despite a solid strategic position.