olivLaw · US equity research
Ceragon Networks Ltd. CRNT
Radio & Tv Broadcasting & Communications Equipment · SIC 3663 · Vertical: Radio & Tv Broadcasting & Communications Equipment (SIC 3663)
Ceragon Networks is a wireless transport specialist providing high-capacity connectivity for mobile operators and private networks. It extended its portfolio with the E2E acquisition in January 2025, while India accounted for a large share of revenues in 2025, making reliance on a few large customers a point to watch.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Ceragon Networks Ltd. (CRNT) stock was 2.00 USD (−1.48% on the day), with market capitalisation 176.8 m USD, beta 1.72, 52-week range 1.89–3.20 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 44.4
- weak (30–45)
- Bollinger (20, 2)
- 1.90 – 2.21
- in the lower half of the band · %B 0.32 · band width 14.8%
- SMA 50 / 200
- 2.07 / 2.32
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.01 / -0.01
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −6.5% | −1.1% | −5.4 pp | — |
| 3 months | −10.3% | −0.5% | −9.9 pp | — |
| 6 months | −24.5% | +4.4% | −28.9 pp | — |
| Year to date | −4.8% | +12.3% | −17.1 pp | — |
| 1 year | −17.4% | +13.5% | −30.9 pp | +3.5% |
| 3 years | +9.3% | +76.4% | −67.1 pp | +58.8% |
| 5 years | −38.3% | +63.7% | −101.9 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 343.9 m | 285.6 m | 262.9 m | 290.8 m | 295.2 m | 347.2 m | 394.2 m | 338.7 m |
| Revenue YoY | +3.6% | −17.0% | −7.9% | +10.6% | +1.5% | +17.6% | +13.5% | −14.1% |
| Net income | 23.0 m | -2.3 m | -17.1 m | -14.8 m | -19.7 m | 6.2 m | 24.1 m | -2.1 m |
| Net income YoY | +48.1% | −110.2% | unavailable | unavailable | unavailable | unavailable | +286.9% | −108.7% |
| Diluted EPS | 0.28 | -0.03 | -0.21 | -0.18 | -0.23 | 0.07 | 0.27 | -0.02 |
| Diluted EPS YoY | +47.4% | −110.7% | unavailable | unavailable | unavailable | unavailable | +285.7% | −107.4% |
| net % | 6.7% | -0.8% | -6.5% | -5.1% | -6.7% | 1.8% | 6.1% | -0.6% |
| Free cash flow | 12.2 m | -24.5 m | 11.2 m | -24.4 m | -15.4 m | 20.9 m | 11.6 m | 17.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 38.4 m USD
- Financial debt
- 19.0 m USD
- Net debt
- -19.4 m USD
- Equity
- 172.8 m USD
- Total assets
- 317.0 m USD
- Debt / equity
- 0.11x
- Current ratio
- 1.87x
- ROE
- -1.2%
- ROA
- -0.6%
- FCF margin
- 5.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 262.9 m | 290.8 m | 295.2 m | 347.2 m | 394.2 m | 338.7 m | SEC (XBRL)· 15 Apr 2026verified |
| Cost of revenue | 187.2 m | 202.4 m | 202.1 m | 227.3 m | 257.3 m | 224.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Gross profit | 75.6 m | 88.4 m | 93.1 m | 119.9 m | 136.9 m | 114.6 m | SEC (XBRL)· 15 Apr 2026verified |
| Research & development | 31.0 m | 29.5 m | 29.7 m | 32.3 m | 35.0 m | 30.4 m | SEC (XBRL)· 15 Apr 2026verified |
| Operating income | -7.6 m | 4.8 m | -10.9 m | 21.2 m | 38.7 m | 7.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Depreciation & amortisation | 12.9 m | 12.2 m | 11.0 m | 10.0 m | 12.1 m | 14.3 m | SEC (XBRL)· 15 Apr 2026verified |
| EBITDA | 5.3 m ≈ | 17.1 m ≈ | 103.0 k ≈ | 31.2 m ≈ | 50.8 m ≈ | 21.6 m ≈ | SEC (XBRL)· 15 Apr 2026derived |
| Interest expense | 4.1 m | 4.7 m | 5.0 m | 7.5 m | 6.0 m | 5.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Pre-tax income | -13.5 m | -3.8 m | -17.2 m | 12.7 m | 27.3 m | 708.0 k | SEC (XBRL)· 15 Apr 2026verified |
| Income tax | 2.6 m | 11.0 m | 2.4 m | 6.5 m | 3.2 m | 2.8 m | SEC (XBRL)· 15 Apr 2026verified |
| Net income | -17.1 m | -14.8 m | -19.7 m | 6.2 m | 24.1 m | -2.1 m | SEC (XBRL)· 15 Apr 2026verified |
| Diluted EPS | -0.21 | -0.18 | -0.23 | 0.07 | 0.27 | -0.02 | SEC (XBRL)· 15 Apr 2026verified |
| Weighted average diluted shares | 81.1 m | 83.4 m | 84.1 m | 85.5 m | 88.5 m | 89.8 m | SEC (XBRL)· 15 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 27.1 m | 17.1 m | 22.9 m | 28.2 m | 35.3 m | 38.4 m | SEC (XBRL)· 15 Apr 2026verified |
| Inventories | 50.6 m | 61.4 m | 72.0 m | 68.8 m | 59.7 m | 61.6 m | SEC (XBRL)· 15 Apr 2026verified |
| Current assets | 199.9 m | 203.5 m | 210.7 m | 217.9 m | 261.0 m | 225.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Property, plant & equipment, net | 31.7 m | 29.4 m | 29.5 m | 30.7 m | 36.8 m | 40.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Goodwill | — | — | 0 | 7.7 m | 7.7 m | 11.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Intangibles (excl. goodwill) | 6.1 m | 6.3 m | 8.2 m | 16.4 m | 16.8 m | 23.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Total assets | 272.4 m | 292.6 m | 289.3 m | 298.5 m | 345.0 m | 317.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Accounts payable | 63.7 m | 69.4 m | 67.4 m | 67.0 m | 91.2 m | 70.8 m | SEC (XBRL)· 15 Apr 2026verified |
| Short-term debt | 6.0 m | 14.8 m | 37.5 m | 32.6 m | 25.2 m | 19.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Current liabilities | 100.4 m | 115.7 m | 132.8 m | 133.0 m | 151.4 m | 120.2 m | SEC (XBRL)· 15 Apr 2026verified |
| Equity | 146.1 m | 137.2 m | 119.8 m | 134.0 m | 166.3 m | 172.8 m | SEC (XBRL)· 15 Apr 2026verified |
| Shares outstanding at year end | 81.7 m | 83.9 m | 84.4 m | 85.4 m | 88.4 m | 88.4 m | SEC (XBRL)· 15 Apr 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 17.2 m | -15.0 m | -4.9 m | 30.9 m | 26.2 m | 31.6 m | SEC (XBRL)· 15 Apr 2026verified |
| Capex | 6.1 m | 9.4 m | 10.5 m | 10.0 m | 14.6 m | 13.6 m | SEC (XBRL)· 15 Apr 2026verified |
| Free cash flow | 11.2 m ≈ | -24.4 m ≈ | -15.4 m ≈ | 20.9 m ≈ | 11.6 m ≈ | 17.9 m ≈ | SEC (XBRL)· 15 Apr 2026derived |
| Investing cash flow | -6.5 m | -9.4 m | -12.4 m | -20.9 m | -16.5 m | -24.0 m | SEC (XBRL)· 15 Apr 2026verified |
| Financing cash flow | -7.4 m | 14.5 m | 23.1 m | -4.9 m | -1.5 m | -5.5 m | SEC (XBRL)· 15 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 52 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 176.8 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet69
- Growth18
- Valuation100
- Quality23
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 2.35 – 25.44 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)3.70 – 5.66 (Mid 4.45)WACC 8.9% · starting FCFF 22.2 m USD · terminal value share of EV 74%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -28.9%
- Peers: EV/Sales3.76 – 25.44 (Mid 8.96)10 companies used · median multiple 2.3x · quartiles 0.9x – 6.6xAVNW, BKSY, GILT, HLIT, KUST, MSI, QCOM, UI, VISN, WATT
- Peers: EV/EBITDA2.35 – 5.98 (Mid 4.05)6 companies used · median multiple 15.7x · quartiles 8.7x – 23.6xAVNW, GILT, MSI, QCOM, UI, VISN
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 52/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 33.8% | 0 (on a fixed band) | 11% |
| EBIT margin · Quality | 2.1% | 55 (vs peers) | 9% |
| FCF margin · Quality | 5.3% | 21 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 4.7% | 19 (on a fixed band) | 18% |
| Revenue growth (YoY) · Growth | -14.1% | 15 (vs peers) | 9% |
| Net debt / EBITDA · Balance sheet | -0.9x | 75 (vs peers) | 7% |
| Current ratio · Balance sheet | 1.9x | 63 (on a fixed band) | 7% |
| EV/Sales · Valuation | 0.5x | 100 (vs peers) | 18% |
| FCF yield · Valuation | 10.2% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet69/100 · 2/2 factors with a value
- Growth18/100 · 2/2 factors with a value
- Quality23/100 · 3/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation100/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
CERAGON NETWORKS LTD (CRNT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 338.7 m USD in 2025; YoY growth -14.1%; net margin -0.6%; ROE -1.2%; net debt/EBITDA -0.9x.
The estimated value range is 3.70–5.98 USD per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 4.45 USD, the price of 2.00 USD leaves a potential of 122.6% (value / price − 1) and a margin of safety of 55.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 52/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net debt / EBITDA: -0.9x
- EV/Sales: 0.5x
- FCF yield: 10.2%
- The price is below the estimated value range
What contradicts it
- Gross margin: 33.8%
- FCF margin: 5.3%
- Revenue CAGR 3Y: 4.7%
- Revenue growth (YoY): -14.1%
Not assessed (insufficient data or a ratio without meaning): Shareholder yield (distributions).
Versus the vertical median
Radio & Tv Broadcasting & Communications Equipment (SIC 3663) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| QCOMQualcomm Inc | 185.3 bn | 13.6 | 52.8% | 31.6% | −2.6% | +3% / +34% |
| MSIMotorola Solutions, Inc. | 82.2 bn | 40.0 | 77.2% | 16.5% | +8.0% | +34% / +54% |
| UIUbiquiti Inc. | 34.0 bn | 35.4 | 91.1% | 29.3% | +27.2% | −4% / +400% |
| PLPlanet Labs PBC | 3.3 bn | — | -72.0% | -95.1% | +25.9% | +6% / +421% |
| ONDSOndas Inc. | 3.0 bn | 18.0 | 20.1% | 96.0% | +605.3% | −33% / +381% |
| VISNVistance Networks, Inc. | 1.5 bn | 0.2 | 22,304.0% | 247.7% | +39.7% | −67% / +286% |
| HLITHarmonic Inc. | 1.1 bn | — | -11.7% | -13.7% | −26.2% | +7% / −8% |
| BKSYBlacksky Technology Inc | 686.3 m | — | -44.8% | -61.2% | +4.4% | −5% / +59% |
| UMACUnusual Machines, Inc. | 650.9 m | — | -2.9% | -20.3% | +101.2% | +49% / unavailable |
| GILTGilat Satellite Networks Ltd. | 521.2 m | 20.8 | 5.2% | 4.6% | +47.9% | −39% / +10% |
| AVNWAviat Networks, Inc. | 254.8 m | 104.7 | 1.0% | 0.6% | +1.2% | −10% / −34% |
| BKTIBK Technologies Corp | 252.4 m | 19.7 | 30.6% | 15.0% | +12.5% | +5% / +415% |
| CRNTCeragon Networks Ltd | 176.8 m | — | -1.2% | -0.6% | −14.1% | −17% / +9% |
| VUZIVuzix Corp | 171.4 m | — | -122.7% | -519.0% | +9.1% | −25% / −3% |
| SATLSatellogic Inc. | 87.6 m | — | — | -325.6% | +37.6% | +95% / +140% |
| AIRGAirgain, Inc. | 55.4 m | — | -23.7% | -13.6% | −14.6% | +4% / +76% |
| WATTEnergous Corporation | 45.0 m | — | -32.8% | -76.4% | +633.1% | +30% / −87% |
| CMTLComtech Telecommunications Corp | 37.4 m | — | -50.5% | -14.5% | −17.0% | −59% / −90% |
| KUSTKustom Entertainment, Inc. | 22.6 m | — | -323.8% | -126.5% | +1.7% | −98% / −100% |
| NOKNokia Corporation | — | — | 3.1% | 3.3% | +3.5% | +36% / +137% |
| ERICEricsson Lm Telephone Co | — | — | 27.9% | 12.0% | −4.5% | +15% / +126% |
1- and 3-year price returns: for CRNT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 15 Apr 2026; since then the company filed 6-K (03 Nov 2026), 6-K (22 Oct 2026), 6-K (06 Oct 2026), 6-K (26 Aug 2026), 6-K (13 Aug 2026), 6-K (11 Aug 2026).
In brief
Ceragon Networks is a wireless transport specialist providing high-capacity connectivity for mobile operators and private networks. It extended its portfolio with the E2E acquisition in January 2025, while India accounted for a large share of revenues in 2025, making reliance on a few large customers a point to watch 1.
SWOT
Strengths
- The company presents itself as the leader in unit shipments and global distribution, with an extensive installed base of operators and private networks, and in-house chipset technology supporting vertical integration 1.
- The portfolio targets 4G and 5G with compact solutions for distributed cells and high-capacity short-haul and long-haul links 1.
- A full service offering, from planning to maintenance, and project management tools give an edge in complex deployments 1.
Weaknesses
- Revenue is concentrated in a few large customers whose purchase orders are not long-term contracts and can fluctuate significantly 1.
- A significant share of sales comes from one country, where margins are lower and government decisions influence demand 1.
- Fixed-price rollout projects with acceptance terms can expose the company to payment and credit risks 1.
Opportunities
- The shift to disaggregated architectures and OPEN RAN could expand the best-of-breed segment where the company is well positioned 1.
- Demand for private network connectivity in industry, utilities and the public sector could grow, and the E2E acquisition expands the offering in this area 1.
- Development in regions lacking fiber infrastructure may create demand for high-capacity links 1.
Risks
- Customer concentrationhigh
A small group of large customers generates a major share of revenue, and reduced orders or insolvency among them could materially affect results 1.
- Dependence on the Indian markethigh
The Indian market strongly influences revenue and is affected by government decisions on network rollout, which makes future revenue hard to project 1.
- Supply chainmedium
Reliance on contract manufacturers and single-source suppliers, together with component shortages driven by AI demand, could delay deliveries 1.
- Geopolitical and trade risksmedium
Regional conflict, tariffs and export controls could raise costs and limit sales in certain countries 1.
- Rollout project risksmedium
Fixed-price projects with delayed acceptance can lead to equipment losses, extra costs and collection risks 1.
Investment thesis
What would need to be true (bull case)
- If the transition to 5G and disaggregated architectures accelerates, the leading position in wireless transport could support volume growth in best-of-breed and private network segments 1.
- The E2E acquisition and broader private network offering could diversify revenue away from large mobile operators 1.
- In-house chipset technology and the IP-100E line could offer a performance advantage if volume production proceeds as planned 1.
What would break the thesis
- Concentration of revenue in a few customers and in India could make results highly volatile from one quarter to the next 1.
- Pricing pressure and lower margins in some regions could limit profitability if these trends persist 1.
- Geopolitical tensions and higher transport and insurance costs could delay deliveries and affect customer relationships 1.
What to watch
- Share of revenue from the three largest customers and the trend in their ordersNext 20-F annual report
- Development of gross margins under pricing pressure in India2027
- Payment of the additional E2E consideration and its effect on revenue2026
- Start of volume production of the IP-100E line and its impact on ordersLate 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 15 Apr 2026; since then the company filed 6-K (03 Nov 2026), 6-K (22 Oct 2026), 6-K (06 Oct 2026), 6-K (26 Aug 2026), 6-K (13 Aug 2026), 6-K (11 Aug 2026).
The business
Ceragon Networks Ltd., incorporated in Israel, describes itself as the leading wireless transport specialist in terms of unit shipments and global distribution, with solutions using microwave and millimeter-wave technology to carry telecom traffic between base stations and the core network. Its solutions are deployed by more than 600 service providers and more than 1,600 private network owners in approximately 130 countries 1. The company also offers turn-key services from planning to maintenance, aiming to stay in the 'best-of-breed' segment of the market.
Segments
Short-haul wireless transport
Short-haul solutions typically provide up to 4 Gbps per link for backhaul and connect base stations and small cells to the core network, and are also used in private networks for state and local government, utilities and oil and gas 1. They represent the densest deployment segment.
Long-haul wireless transport
Long-haul solutions provide up to 10 Gbps and are used on the 'highways' of the telecom backbone over distances of 10 to 50 miles, as well as in non-carrier applications such as broadcast and offshore communications 1.
Private networks and fixed wireless access
Through the Siklu and E2E acquisitions, Ceragon extended its offering to fixed wireless access, smart cities and private networks in oil and gas, utilities and industry. E2E is a US systems integrator delivering end-to-end connectivity to such customers 1.
Market context
Demand for wireless transport comes mainly from cellular operators, wireless broadband providers and organizations running private networks, fuelled by rising data traffic and the shift to 5G. The report notes that the market faces aggressive competition and pricing pressure, and that subscriber growth is concentrated in India, Africa and Latin America, although these markets are nearing saturation 1.
Trends
- Transition to 5G and disaggregated architecturestailwind
Operators are adopting 5G networks with more capacity and density, and disaggregated architectures such as OPEN RAN open the market to more vendors. If this trend consolidates, the best-of-breed segment where Ceragon is active could grow 1.
- Pricing pressureheadwind
Strong competition and aggressive pricing reduce margins, and sales in India are usually at lower gross margins. This pressure could weigh on gross margins if it is not offset 1.
- AI adoption in networksmixed
AI adoption in telecoms and demand for low-latency, high-capacity networks may create opportunities for transport solutions, but also bring new compliance and security requirements 1.
- Geopolitical tensions and supply chainsheadwind
The regional war and tensions around the Strait of Hormuz and the Red Sea could raise shipping and insurance costs, and competing AI demand for components could create shortages. If these factors worsen, deliveries could be affected 1.
Competitive position
The wireless transport market is dominated by large, aggressive competitors competing for share and on price. The company cites competition from other wireless transport equipment providers and from alternative communication solutions 1.
Ceragon differentiates through its multicore technology, in-house chipsets and end-to-end offering for private networks, but faces suppliers of complete network packages where wireless transport plays a secondary role 1.
- End-to-end network solution providers
Providers that deliver the full network and choose transport equipment as part of the package, the 'bundled-deals' segment described in the report 1.
- Other wireless transport equipment providers
Competing companies in the same global market, with aggressive pricing and technology investment, mentioned generically in the report 1.
- Alternative connectivity solution providers
Technologies competing with wireless solutions, including leased or newly built fiber optics 1.
- System integrators for private networks
Integrators that take on rollout projects and can influence equipment choice in private networks 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)03 Nov 2026
- Current report (foreign issuer)22 Oct 2026
- Current report (foreign issuer)06 Oct 2026
- Current report (foreign issuer)26 Aug 2026
- Current report (foreign issuer)13 Aug 2026
- Current report (foreign issuer)11 Aug 2026
- Current report (foreign issuer)29 Jul 2026
- Current report (foreign issuer)28 Jul 2026
- Current report (foreign issuer)23 Jul 2026
- Current report (foreign issuer)21 Jul 2026
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / Ceragon Networks Ltd. · 15 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.