The revenue beat and strong India bookings are positive, but the lowered margin guidance for the full year is a clear headwind. Traders should watch the Q3 2026 earnings call for evidence that gross margins can stabilize near the new guided range; a further miss on margins would likely outweigh the top-line strength.
Price Chart
Executive Summary
Ceragon reported Q2 2026 revenue of $93.9M (+14.2% YoY), beating the $86.4M consensus, while non-GAAP EPS of $0.02 beat the $0.00 estimate. However, GAAP net loss widened to ($2.1M) from ($1.3M) a year ago, and the company lowered its full-year 2026 non-GAAP gross margin and operating margin guidance, signaling persistent cost pressures that temper the top-line beat.
Key Financial Metrics
Key Facts
- Revenue of $93.9M beat consensus of $86.4M and grew 14.2% YoY from $82.3M.
- Non-GAAP EPS of $0.02 beat the $0.00 consensus estimate.
- GAAP net loss widened to ($2.1M) vs ($1.3M) in Q2 2025; GAAP EPS was ($0.02).
- India revenue was 48% of total; North America had record quarterly bookings in private networks.
- Full-year 2026 revenue guidance raised to $355M-$385M, but non-GAAP gross margin guidance lowered to 33.5%-34.5% from prior 35.5% midpoint, and operating margin guidance lowered to 5%-6% from 6.5%-7.5%.
- Cash and equivalents fell to $34.8M from $38.4M at year-end 2025; operating cash flow was $5.1M in Q2.
Financial Impact
Revenue beat of $7.5M vs consensus; non-GAAP EPS beat of $0.02 vs $0.00; GAAP net loss of ($2.1M); FY2026 gross margin guidance lowered by ~200bps midpoint.
Risk Factors
- Lowered non-GAAP gross margin and operating margin guidance for FY2026 suggests ongoing cost and supply chain pressures.
- GAAP net loss widened YoY despite higher revenue, indicating margin compression.
- Cash burn continues; cash balance declined $3.6M in H1 2026.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-prn-302848255 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 6-K | $1.94 | awaiting T+5 | — | $2.10 (+8.25%) |
Oct 22, 2026 5d ago | Press Release | $1.94 | awaiting T+5 | — | $2.10 (+8.53%) |
Oct 6, 2026 21d ago | 6-K | $2.13 $2.06 | ▼ −3.29% | ▼ −3.15% | $2.10 (−1.41%) |
Aug 26, 2026 8w ago | 6-K | $2.07 $2.07 | · 0.00% | ▲ +0.12% | $2.10 (+1.45%) |
Aug 11, 2026 11w ago | 6-K | $2.19 $2.11 | ▲ +3.65% | ▲ +3.25% | $2.10 (+4.11%) |
Aug 11, 2026 11w ago | Press Release | $2.19 $2.11 | ▼ −3.65% | ▼ −3.25% | $2.10 (−4.11%) |
Jul 23, 2026 13w ago | 6-K | $2.22 $2.17 | ▼ −2.25% | ▼ −2.73% | $2.10 (−5.41%) |
Jul 21, 2026 14w ago | 6-K | $2.28 $2.17 | ▼ −4.82% | ▼ −3.60% | $2.10 (−7.89%) |
Jul 15, 2026 14w ago | Press Release | $2.32 $2.25 | ▼ −3.02% | ▼ −2.04% | $2.10 (−9.48%) |
Jul 15, 2026 14w ago | 6-K | $2.32 $2.25 | ▼ −3.02% | ▼ −2.04% | $2.10 (−9.48%) |
US Market Status
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