Ceragon Networks Ltd. reported second-quarter 2025 revenues of $82.3 million, a 14.4% decrease from $96.1 million in Q2 2024. This decline was primarily attributed to significant headwinds in India, where revenue from customers decreased by 30% year-over-year to $24.8 million due to financial challenges faced by a key customer.
The company reported a GAAP net loss of ($1.3) million, or ($0.01) per diluted share, compared to a net income of $7.8 million, or $0.09 per diluted share, in Q2 2024. Despite the revenue challenges, Ceragon maintained a non-GAAP gross margin of 35.2%, unchanged from the prior year, and generated $6.1 million in free cash flow.
Due to the evolving dynamics and limited visibility in India, Ceragon withdrew its prior full-year guidance. However, management anticipates second-half revenue to be roughly in line with the first half and expressed optimism for India in 2026, citing a new traditional microwave opportunity that could add tens of millions of dollars in revenue. North America emerged as a strong region, with bookings and revenue exceeding $20 million, and the company secured a multimillion-dollar project with a new major Tier 1 carrier.
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