Business
Ceragon Anticipates Reaching the High-End of 2023 Revenue Guidance, Expects Double-Digit Growth and Targets Margin Expansion in 2024
Management Expects Full-Year 2024 Revenue of $385-405 Million and Targets Operating Margins of At Least 10% at Revenue Midpoint Moves Long-Range Target for
About this update from Ceragon Networks Ltd.
[{"type":"text","content":"Management Expects Full-Year 2024 Revenue of $385-405 Million and Targets Operating Margins of At Least 10% at Revenue Midpoint\nMoves Long-Range Target for $500 Million in Annual Revenue Forward by 12 Months to 2026\nROSH HA'AIN, Israel, Jan. 17, 2024 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today confirmed its expectations for the 2023, and provided its guidance for 2024.\n\n \n \nBased on preliminary and unaudited results, management expects to deliver revenue for the full year 2023 at the high end of its previously disclosed range of $338 million to $346 million. Management also expects positive free cash flow, excluding the impact of the acquisition of Siklu. \nFor 2024, management expects:\nRevenue of $385 million to $405 million, representing growth at the midpoint of approximately 14% compared to expected 2023 levels. This guidance includes the contribution from Siklu, which was acquired in December 2023.Non-GAAP operating margins are targeted to be at least 10% at the mid-point of the revenue guidance.As a result, management expects increased non-GAAP profit and positive free cash flow for the full year of 2024 as compared with 2023.\"We expect continued double-digit growth, reflecting expansion of our addressable market and further penetration into the private network ecosystem, in 2024,\" commented Doron Arazi, Ceragon CEO. \"The integration of Siklu is well underway, and we expect the strategic benefits of this acquisition to bolster our competitive position with the higher growing portions of our addressable market, especially private network operators in general and in North America in particular. We now expect to reach our long-term target of $500 million in annual revenue in 2026, a year earlier than we previously expected, with solid margin expansion and continued profitability.\"\nDoron Arazi, Chief Executive Officer will discuss this outlook later today at a presentation at the Needham Growth Conference. The live presentation will take place at 10:15 a.m. ET and will be webcast on Ceragon's website at https://www.ceragon.com/investors/webcasts. An archived webcast will remain posted on the Company's investor relations website for at least 30 days.\nCeragon is expected to report its audited fourth quarter and full-year 20...