Ceragon Networks Sees FY23 Revenue At High-End Of View, Double-Digit Revenue Growth In FY24

(RTTNews) - Ceragon Networks Ltd. (CRNT), a solutions provider of 5G wireless transport, Wednesday confirmed its fiscal 2023 outlook, expecting to reach the high-end of revenue view. The company also provided its guidance for 2024, and moved its long-term revenue target forward by 12 months.

For fiscal 2023, the company expects to deliver revenue at the high end of its previously disclosed range of $338 million to $346 million.

The management also expects positive free cash flow, excluding the impact of the acquisition of Siklu.

Ceragon is expected to report its fourth-quarter and fiscal 2023 results in mid-February.

Further, for 2024, the company expects increased adjusted profit, and revenue of $385 million to $405 million, a growth at the midpoint of around 14 percent compared to expected 2023 levels. The guidance includes the contribution from Siklu, which was acquired in December 2023.

For the next year, adjusted operating margins are targeted to be at least 10 percent at the mid-point of the revenue guidance.

Doron Arazi, Chief Executive Officer, said, "We expect continued double-digit growth, reflecting expansion of our addressable market and further penetration into the private network ecosystem, in 2024."

In addition, the company moved its long-range target for $500 million in annual revenue forward by 12 months to 2026, with solid margin expansion and continued profitability.