Ceragon Networks Q1 Revenue $85M, India Momentum and North America Rollout
Ceragon Networks posted Q1 2026 revenue of $85.0 million, down 4.1% year-over-year, with GAAP operating income of $2.1 million and non-GAAP net income of $0.7 million. India revenue rose sequentially, boosting bookings and visibility for 2026, while a new Tier-1 North America rollout and expanding private network contracts underpin management’s reiterated 2026 guidance.
1. Q1 2026 Financial Results
Ceragon reported Q1 revenue of $85.0 million, down 4.1% from $88.7 million a year earlier. GAAP operating income reached $2.1 million versus a $1.1 million loss in Q1 2025, while GAAP net loss was $1.3 million (–$0.01 per share) and non-GAAP net income was $0.7 million ($0.01 per share).
2. Geographic Performance and Bookings
North America accounted for 37% of Q1 revenue, remaining robust as activity progresses with a new Tier-1 communications service provider poised for initial orders in Q3. India’s share rose to 35%, with sequential revenue growth and strong bookings driven by demand for E-band wireless solutions.
3. Private Network Expansion and FR2 Development
Ceragon continues to expand its private network business with multiple contracts across diverse customers and use cases. Development of its FR2 solution advanced through a successful proof-of-concept with a major North American carrier, attracting additional interest in North America and Europe.
4. Outlook and 2026 Guidance
Management reiterated full-year 2026 targets of $355 million to $385 million in revenue, a non-GAAP gross margin improvement of 100 basis points at midpoint and an operating margin of 6.5%–7.5%. Actions are underway to mitigate margin pressure from macro cost increases and adverse currency trends.