Ceragon Networks (CRNT) financial statements
Ceragon Networks reported revenue of $339M in fiscal 2025, up 1.6% a year over 9 years.
Net income was -$2M and the operating margin 2.1%, against 6.6% in 2016.
Free cash flow was $18M.
The diluted share count rose 14% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ceragon Networks's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $294M | $332M | $344M | $286M | $263M | $291M | $295M | $347M | $394M | $339M |
| Cost of revenue | $194M | $225M | $228M | $189M | $187M | $202M | $202M | $227M | $257M | $224M |
| Gross profit | $99M | $107M | $116M | $97M | $76M | $88M | $93M | $120M | $137M | $115M |
| Research and development | $22M | $26M | $28M | $27M | $31M | $29M | $30M | $32M | $35M | $30M |
| Selling, general and admin | $60M | $58M | $62M | $63M | $52M | $54M | $70M | $64M | $59M | $73M |
| Operating income | $19M | $23M | $26M | $7M | -$8M | $5M | -$11M | $21M | $39M | $7M |
| Interest expense | $4M | $5M | $5M | $4M | $4M | $5M | $5M | $8M | $6M | $5M |
| Pre-tax income | $13M | $17M | $20M | $781,000 | -$13M | -$4M | -$17M | $13M | $27M | $708,000 |
| Income tax | $2M | $2M | -$3M | $2M | $3M | $11M | $2M | $7M | $3M | $3M |
| Net income | $11M | $16M | $23M | -$2M | -$17M | -$15M | -$20M | $6M | $24M | -$2M |
| EPS (diluted) | $0.15 | $0.19 | $0.28 | -$0.03 | -$0.21 | -$0.18 | -$0.23 | $0.07 | $0.27 | -$0.02 |
| Diluted shares | 79M | 80M | 81M | 80M | 81M | 83M | 84M | 85M | 88M | 90M |
| Gross margin | 33.8% | 32.3% | 33.8% | 33.9% | 28.8% | 30.4% | 31.5% | 34.5% | 34.7% | 33.8% |
| Operating margin | 6.6% | 7.0% | 7.6% | 2.6% | -2.9% | 1.7% | -3.7% | 6.1% | 9.8% | 2.1% |
| Net margin | 3.9% | 4.7% | 6.7% | -0.8% | -6.5% | -5.1% | -6.7% | 1.8% | 6.1% | -0.6% |
Balance sheet
Fiscal years, from Ceragon Networks's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $36M | $26M | $36M | $24M | $27M | $17M | $23M | $28M | $35M | $38M |
| Receivables | $107M | $114M | $123M | $119M | $107M | $108M | $100M | $104M | $150M | $100M |
| Inventory | $46M | $54M | $54M | $62M | $51M | $61M | $72M | $69M | $60M | $62M |
| Total current assets | $206M | $211M | $225M | $216M | $200M | $203M | $211M | $218M | $261M | $225M |
| Property, plant and equipment | $28M | $30M | $34M | $35M | $32M | $29M | $29M | $31M | $37M | $40M |
| Goodwill | — | — | — | — | — | — | $0 | $8M | $8M | $11M |
| Total assets | $244M | $254M | $283M | $290M | $272M | $293M | $289M | $299M | $345M | $317M |
| Total current liabilities | $111M | $105M | $110M | $104M | $100M | $116M | $133M | $133M | $151M | $120M |
| Total liabilities | $128M | $120M | $123M | $129M | $126M | $155M | $170M | $165M | $179M | $144M |
| Shareholders' equity | $116M | $134M | $160M | $160M | $146M | $137M | $120M | $134M | $166M | $173M |
| Net debt | -$36M | -$26M | -$36M | -$24M | -$27M | -$17M | -$23M | -$28M | -$35M | -$38M |
Cash flow
Fiscal years, from Ceragon Networks's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $26M | $17M | $22M | -$13M | $17M | -$15M | -$5M | $31M | $26M | $32M |
| Capital spending | $8M | $9M | $10M | $12M | $6M | $9M | $10M | $10M | $15M | $14M |
| Free cash flow | $18M | $9M | $12M | -$25M | $11M | -$24M | -$15M | $21M | $12M | $18M |
| Stock-based compensation | $1M | $1M | $2M | $2M | $2M | $3M | $4M | $4M | $4M | $4M |
| Free cash flow margin | 6.0% | 2.6% | 3.5% | -8.6% | 4.2% | -8.4% | -5.2% | 6.0% | 2.9% | 5.3% |
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Open CRNT in InvestinglyQuestions
What was Ceragon Networks's revenue in 2025?
$339M in fiscal 2025, from its 10-K filing.
How much free cash flow does Ceragon Networks generate?
$18M in fiscal 2025 (operating cash flow minus capital spending).
From Ceragon Networks's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.