Exhibit A

Ceragon Reports 2025 Second Quarter Financial Results

Delivers profitability on a non-GAAP basis and free cash flow amid evolving revenue environment;
Ceragon’s technology leadership driving competitive gains and increased opportunities
 
Rosh Ha'ain, Israel, August 6, 2025 -- Ceragon (NASDAQ: CRNT), a leading solutions provider of end-to-end wireless connectivity, today reported its financial results for the second quarter period ended June 30, 2025.
 
Q2 2025 Financial Highlights:
 

 •
Revenues of $82.3 million

•
Operating income of $2.2 million on a GAAP basis, or $4.7 million on a non-GAAP basis

•
Net income (loss) of ($1.3) million on a GAAP basis, and $2.5 million on a non-GAAP basis

•
EPS of ($0.01) per diluted share on a GAAP basis, or $0.03 per diluted share on a non-GAAP basis
 
Q2 2025 Business Highlights:
 

 •
North America momentum: Bookings and revenue grew sequentially for the third consecutive quarter, exceeded $20 million, and were the highest since Q2 2024

•
Strategic customer win: Secured “preferred vendor” status in a project with a new tier-1 mobile network operator in North America, due to innovative solution based on leveraging Siklu’s technology

•
Acquisition synergy: Recent acquisitions continued to deliver incremental opportunities and expanded capabilities across both private network and CSP markets
 
CEO Doron Arazi commented: “The second quarter demonstrated the resilience and agility we have built into our business. We delivered solid profitability on a non-GAAP basis, generated cash, reduced debt, and advanced our strategic roadmap even as we navigated rapidly evolving dynamics in India. We are leveraging differentiated technology which delivers valuable capabilities that we believe outpaces our competitors, and these advantages are translating into new opportunities and expanded use cases that support incremental revenue and potential market share gains globally.”
 
“Momentum is building across North America and other regions, where our cutting-edge technology is opening doors with Tier-1 carriers and private network customers,” Arazi continued.
 
Primary Second Quarter 2025 Financial Results:
 
Revenues were $82.3 million, down 14.4% from $96.1 million in Q2 2024.
 
Gross profit was $28.4 million, giving us a gross margin of 34.6%, compared to gross margin of 34.8% in Q2 2024.
 
GAAP Operating income was $2.2 million compared with $10.4 million for Q2 2024.
 
GAAP Net income (loss) was ($1.3) million, or ($0.01) per diluted share, compared with $7.8 million, or $0.09 per diluted share for Q2 2024.
 
Non-GAAP results were as follows: Gross margin was 35.2%, operating profit was $4.7 million, and net income of $2.5 million, or $0.03 per diluted share.
 
Balance Sheet
 
Cash and cash equivalents were $29.2 million on June 30, 2025, compared to $35.3 million on December 31, 2024.
 
For a reconciliation of GAAP to non-GAAP results, see the attached tables.

Revenue Breakout by Geography:

 
Q2 2025
North America
33%
India
30%
EMEA
17%
Latin America
10%
APAC
10%

Outlook

The current visibility, especially in India, is impacting the Company’s ability to reaffirm prior guidance. Based on management’s current view, the Company assumes the following:


 •
Revenue in the second half of 2025 to remain essentially consistent with first half levels

•
At these revenue levels, Ceragon anticipates generating non-GAAP profit and positive cash flow

•
Ceragon’s momentum across field engagements, customer trials, and new opportunities, as well as a rebound of stalled and delayed projects in India, establish the foundation for renewed growth in 2026.

Conference Call

The Company will host a Zoom web conference today at 8:30 a.m. ET to discuss the financial results, followed by a question-and-answer session for the investment community.

Investors are invited to register by clicking here. All relevant information will be sent upon registration.

For investors unable to join the live call, a replay will be available on the Company’s website at www.ceragon.com within 24 hours after the call.

About Ceragon
 
Ceragon (NASDAQ: CRNT) is a global innovator and leading solutions provider of end-to-end wireless connectivity, specializing in transport, access, and AI-powered managed & professional services. Through our commitment to excellence, we empower customers to elevate operational efficiency and enrich the quality of experience for their end users.
 
Our customers include service providers, utilities, public safety organizations, government agencies, energy companies, and more, who rely on our wireless expertise and cutting-edge solutions for 5G & 4G broadband wireless connectivity, mission-critical services, and an array of applications that harness our ultra-high reliability and speed. Ceragon solutions are deployed by more than 600 service providers, as well as more than 1,600 private network owners, in more than 130 countries.
 
Through our innovative, end-to-end solutions, covering hardware, software, and managed & professional services, we enable our customers to embrace the future of wireless technology with confidence, shaping the next generation of connectivity and service delivery. Ceragon delivers extremely reliable, fast to deploy, high-capacity wireless solutions for a wide range of communication network use cases, optimized to lower TCO through minimal use of spectrum, power, real estate, and labor resources - driving simple, quick, and cost-effective network modernization and positioning Ceragon as a leading solutions provider for the “connectivity everywhere” era.
 
For more information please visit: www.ceragon.com
 
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON® is a trademark of Ceragon, registered in various countries. Other names mentioned are owned by their respective holders.

Safe Harbor

This press release contains statements that constitute “forward-looking statements” within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon’s management about Ceragon’s business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include, but are not limited to, statements regarding: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, supply chain and shipping, components availability; growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as “may”, “plans”, “anticipates”, “believes”, “estimates”, “targets”, “expects”, “intends”, “potential” or the negative of such terms, or other comparable terminology, although not all forward-looking statements contain these identifying words.
 
Although we believe that the projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations there from will not be material. Such forward-looking statements involve known and unknown risks and uncertainties that may cause Ceragon’s future results or performance to differ materially from those anticipated, expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: Company’s forward-looking forecasts, with respect to which there is no assurance that such forecasts will materialize; Company’s ability to future plan, business, marketing and product strategies on the forecasted evolution of the market developments, such as market and territory trends, future use cases, business concepts, technologies, future demand, and necessary inventory levels; the effects of global economic trends, including recession, rising inflation, rising interest rates, commodity price increases and fluctuations, commodity shortages and exposure to economic slowdown; The effects of the evolving nature of the war situation in Israel and the related evolving regional conflicts; risks associated with delays in the transition to 5G technologies and in the 5G rollout; risks relating to the concentration of our business on a limited number of large mobile operators and the fact that the significant weight of their ordering, compared to the overall ordering by other customers, coupled with inconsistent ordering patterns, could negatively affect us; risks resulting from the volatility in our revenues, margins and working capital needs; disagreements with tax authorities regarding tax positions that we have taken could result in increased tax liabilities; the high volatility in the supply needs of our customers, which from time to time lead to delivery issues and may lead to us being unable to timely fulfil our customer commitments; and such other risks, uncertainties and other factors that could affect our results of operation, as further detailed in Ceragon’s most recent Annual Report on Form 20-F, as published on March 25, 2025, as well as other documents that may be subsequently filed by Ceragon from time to time with the Securities and Exchange Commission.
 
We caution you not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Ceragon does not assume any obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release unless required by law.
 
While we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that these statements are based on a combination of facts and factors currently known by us and our projections of the future, about which we cannot be certain. In addition, any forward-looking statements represent Ceragon’s views only as of the date of this press release and should not be relied upon as representing its views as of any subsequent date. Ceragon does not assume any obligation to update any forward-looking statements unless required by law.
 
The results reported in this press-release are preliminary and unaudited results, and investors should be aware of possible discrepancies between these results and the audited results to be reported, due to various factors.
 
Ceragon’s public filings are available on the Securities and Exchange Commission’s website at www.sec.gov and may also be obtained from Ceragon’s website at www.ceragon.com.
 
Ceragon Investor & Media Contact:
 
Rob Fink
FNK IR
Tel. 1+646-809-4048
crnt@fnkir.com
 
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(U.S. dollars in thousands, except share and per share data)

   
Three months ended
June 30,
    
Six months ended
June 30,
  
   
2025
    
2024
    
2025
    
2024
  
                         
                         
Revenues
    
82,262
      
96,088
      
170,914
      
184,586
  
Cost of revenues
    
53,822
      
62,627
      
113,375
      
119,057
  
                                 
Gross profit
    
28,440
      
33,461
      
57,539
      
65,529
  
                                 
Operating expenses:
                                
   Research and development, net
    
7,332
      
8,385
      
15,581
      
17,232
  
Sales and Marketing
    
11,722
      
11,508
      
24,019
      
22,769
  
General and administrative
    
6,940
      
2,295
      
12,376
      
8,158
  
Restructuring and related charges
    
-
      
-
      
3,732
      
1,416
  
Acquisition- and integration-related charges
    
229
      
915
      
704
      
1,377
  
                                 
Total operating expenses
    
26,223
      
23,103
      
56,412
      
50,952
  
                                 
Operating income
    
2,217
      
10,358
      
1,127
      
14,577
  
                                 
Financial and other expenses, net
    
2,896
      
1,916
      
1,906
      
4,777
  
                                 
Income (loss) before taxes
    
(679
)
    
8,442
      
(779
)
    
9,800
  
                                 
Taxes on income
    
588
      
609
      
1,468
      
1,564
  
                                 
Net income (loss)
    
(1,267
)
    
7,833
      
(2,247
)
    
8,236
  
                                 
Basic net income (loss) per share
    
(0.01
)
    
0.09
      
(0.03
)
    
0.10
  
                                 
Diluted net income (loss) per share
    
(0.01
)
    
0.09
      
(0.03
)
    
0.09
  
                                 
Weighted average number of shares used in computing basic net income (loss) per share
    
89,470,719
      
85,743,770
      
89,108,772
      
85,632,241
  
                                 
Weighted average number of shares used in computing diluted net income (loss) per share
    
89,470,719
      
87,921,507
      
89,108,772
      
87,753,163
  

CONDENSED CONSOLIDATED BALANCE SHEETS
(U.S. dollars in thousands)

   
June 30,
    
December 31,
  
   
2025
    
2024
  
ASSETS
            
             
CURRENT ASSETS:
            
Cash and cash equivalents
    
29,216
      
35,311
  
Trade receivables, net
    
124,051
      
149,619
  
Inventories
    
59,944
      
59,693
  
Other accounts receivable and prepaid expenses
    
20,994
      
16,415
  
                 
Total current assets
    
234,205
      
261,038
  
                 
NON-CURRENT ASSETS:
                
Severance pay and pension fund
    
5,140
      
4,915
  
Property and equipment, net
    
38,007
      
36,764
  
Operating lease right-of-use assets
    
16,707
      
16,702
  
Intangible assets, net
    
22,421
      
16,791
  
Goodwill
    
11,046
      
7,749
  
Other non-current assets
    
859
      
1,037
  
                 
Total non-current assets
    
94,180
      
83,958
  
                 
Total assets
    
328,385
      
344,996
  
                 
LIABILITIES AND SHAREHOLDERS' EQUITY
                
                 
CURRENT LIABILITIES:
                
Trade payables
    
73,759
      
91,157
  
Deferred revenues
    
2,426
      
2,573
  
Short-term loans
    
20,500
      
25,200
  
Operating lease liabilities
    
3,727
      
2,971
  
Other accounts payable and accrued expenses
    
25,453
      
29,547
  
                 
Total current liabilities
    
125,865
      
151,448
  
                 
LONG-TERM LIABILITIES:
                
Accrued severance pay and pension
    
8,661
      
8,359
  
Operating lease liabilities
    
13,324
      
12,936
  
Other long-term payables
    
8,758
      
5,928
  
                 
Total long-term liabilities
    
30,743
      
27,223
  
                 
SHAREHOLDERS' EQUITY:
                
Share capital
    
234
      
232
  
Additional paid-in capital
    
452,709
      
447,369
  
Treasury shares at cost
    
(20,091
)
    
(20,091
)
Other comprehensive loss
    
(7,703
)
    
(10,060
)
Accumulated deficit
    
(253,372
)
    
(251,125
)
                 
Total shareholders' equity
    
171,777
      
166,325
  
                 
Total liabilities and shareholders' equity
    
328,385
      
344,996
  

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW
(U.S. dollars, in thousands)

   
Three months ended
June 30,
    
Six months ended
June 30,
  
   
2025
    
2024
    
2025
    
2024
  
                         
Cash flow from operating activities:
                        
Net income (loss)
    
(1,267
)
    
7,833
      
(2,247
)
    
8,236
  
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
                                
Depreciation and amortization
    
3,632
      
2,941
      
6,964
      
5,880
  
Loss from sale of property and equipment, net
    
-
      
169
      
10
      
169
  
Stock-based compensation expense
    
1,549
      
1,566
      
2,199
      
2,470
  
Decrease (increase) in accrued severance pay and  pensions, net
    
30
      
(212
)
    
77
      
(564
)
Decrease (increase) in trade receivables, net
    
21,778
      
(16,023
)
    
28,162
      
(9,247
)
Increase in other assets (including other accounts receivable, prepaid expenses, other non-current assets,
and the effect of exchange rate changes on cash and cash equivalents)
    
(1,179
)
    
(652
)
    
(2,319
)
    
(1,383
)
Decrease in inventory
    
2,206
      
1,186
      
127
      
8,555
  
Decrease in operating lease right-of-use assets
    
1,323
      
1,694
      
2,054
      
2,626
  
Increase (decrease) in trade payables
    
(13,961
)
    
12,075
      
(18,045
)
    
589
  
Decrease in other accounts payable and accrued expenses (including other long-term payables)
    
(3,285
)
    
(2,196
)
    
(2,531
)
    
(94
)
Decrease in operating lease liability
    
(90
)
    
(1,922
)
    
(915
)
    
(2,942
)
Increase (decrease) in deferred revenues
    
26
      
(1,637
)
    
(164
)
    
(2,946
)
Net cash provided by operating activities
    
10,762
      
4,822
      
13,372
      
11,349
  
                                 
Cash flow from investing activities:
                                
Purchases of property and equipment, net
    
(3,957
)
    
(4,562
)
    
(7,426
)
    
(7,955
)
Software development costs capitalized
    
(1,173
)
    
(676
)
    
(1,711
)
    
(989
)
Payments made in connection with business acquisitions, net of acquired cash
    
-
      
-
      
(6,570
)
    
-
  
Net cash used in investing activities
    
(5,130
)
    
(5,238
)
    
(15,707
)
    
(8,944
)
                                 
Cash flow from financing activities:
                                
Proceeds from exercise of stock options
    
143
      
284
      
651
      
542
  
Repayments of bank credits and loans, net
    
(4,700
)
    
(2,050
)
    
(4,700
)
    
(4,150
)
Net cash used in financing activities
    
(4,557
)
    
(1,766
)
    
(4,049
)
    
(3,608
)
                                 
Effect of exchange rate changes on cash and cash equivalents
    
453
      
(298
)
    
289
      
(731
)
                                 
Increase (decrease) in cash and cash equivalents
    
1,528
      
(2,480
)
    
(6,095
)
    
(1,934
)
Cash and cash equivalents at the beginning of the period
    
27,688
      
28,783
      
35,311
      
28,237
  
Cash and cash equivalents at the end of the period
    
29,216
      
26,303
      
29,216
      
26,303
  

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(U.S. dollars in thousands, except share and per share data)

   
Three months ended
June 30,
    
Six months ended
June 30,
  
   
2025
    
2024
    
2025
    
2024
  
                         
GAAP cost of revenues
    
53,822
      
62,627
      
113,375
      
119,057
  
Stock-based compensation expenses
    
(81
)
    
(134
)
    
(189
)
    
(265
)
Amortization of acquired intangible assets
    
(451
)
    
(189
)
    
(956
)
    
(378
)
Excess cost on acquired inventory in business combination (*)
    
-
      
-
      
-
      
(124
)
Non-GAAP cost of revenues
    
53,290
      
62,304
      
112,230
      
118,290
  
                                 
GAAP gross profit
    
28,440
      
33,461
      
57,539
      
65,529
  
Stock-based compensation expenses
    
81
      
134
      
189
      
265
  
Amortization of acquired intangible assets
    
451
      
189
      
956
      
378
  
Excess cost on acquired inventory in business combination (*)
    
-
      
-
      
-
      
124
  
Non-GAAP gross profit
    
28,972
      
33,784
      
58,684
      
66,296
  
                                 
GAAP Research and development expenses
    
7,332
      
8,385
      
15,581
      
17,232
  
Stock-based compensation expenses
    
(123
)
    
(184
)
    
(278
)
    
(336
)
Non-GAAP Research and development expenses
    
7,209
      
8,201
      
15,303
      
16,896
  
                                 
GAAP Sales and marketing expenses
    
11,722
      
11,508
      
24,019
      
22,769
  
Stock-based compensation expenses
    
(330
)
    
(387
)
    
(640
)
    
(683
)
Amortization of acquired intangible assets
    
(275
)
    
(117
)
    
(497
)
    
(388
)
Non-GAAP Sales and marketing expenses
    
11,117
      
11,004
      
22,882
      
21,698
  
                                 
GAAP General and administrative expenses
    
6,940
      
2,295
      
12,376
      
8,158
  
Stock-based compensation expenses
    
(1,015
)
    
(861
)
    
(1,092
)
    
(1,186
)
Non-GAAP General and administrative expenses
    
5,925
      
1,434
      
11,284
      
6,972
  
                                 
GAAP Restructuring and related charges
    
-
      
-
      
3,732
      
1,416
  
Restructuring and related charges
    
-
      
-
      
(3,732
)
    
(1,416
)
Non-GAAP Restructuring and related charges
    
-
      
-
      
-
      
-
  
                                 
GAAP Acquisition- and integration-related charges
    
229
      
915
      
704
      
1,377
  
Acquisition- and integration-related charges
    
(229
)
    
(915
)
    
(704
)
    
(1,377
)
Non-GAAP Acquisition- and integration-related charges
    
-
      
-
      
-
      
-
  

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL RESULTS
(U.S. dollars in thousands, except share and per share data)

   
Three months ended
June 30,
    
Six months ended
June 30,
  
   
2025
    
2024
    
2025
    
2024
  
                         
GAAP Operating income
    
2,217
      
10,358
      
1,127
      
14,577
  
Stock-based compensation expenses
    
1,549
      
1,566
      
2,199
      
2,470
  
Amortization of acquired intangible assets
    
726
      
306
      
1,453
      
766
  
Excess cost on acquired inventory in business combination (*)
    
-
      
-
      
-
      
124
  
Restructuring and other charges
    
-
      
-
      
3,732
      
1,416
  
Acquisition- and integration-related charges
    
229
      
915
      
704
      
1,377
  
Non-GAAP Operating income
    
4,721
      
13,145
      
9,215
      
20,730
  
                                 
GAAP Financial and other expenses, net
    
2,896
      
1,916
      
1,906
      
4,777
  
Leases – financial income (expenses)
    
(1,233
)
    
207
      
(1,138
)
    
319
  
Non-cash revaluation associated with business combination
    
16
      
477
      
1,948
      
(196
)
Non-GAAP Financial and other expenses, net
    
1,679
      
2,600
      
2,716
      
4,900
  
                                 
GAAP Tax expenses
    
588
      
609
      
1,468
      
1,564
  
Non cash tax adjustments
    
-
      
-
      
-
      
(413
)
Non-GAAP Tax expenses
    
588
      
609
      
1,468
      
1,151
  
                                 
GAAP Net income (loss)
    
(1,267
)
    
7,833
      
(2,247
)
    
8,236
  
Stock-based compensation expenses
    
1,549
      
1,566
      
2,199
      
2,470
  
Excess cost on acquired inventory in business combination (*)
    
-
      
-
      
-
      
124
  
Amortization of acquired intangible assets
    
726
      
306
      
1,453
      
766
  
Restructuring and other charges
    
-
      
-
      
3,732
      
1,416
  
Acquisition- and integration-related charges
    
229
      
915
      
704
      
1,377
  
Leases – financial expenses (income)
    
1,233
      
(207
)
    
1,138
      
(319
)
Non-cash revaluation associated with business combination
    
(16
)
    
(477
)
    
(1,948
)
    
196
  
Non-cash tax adjustments
    
-
      
-
      
-
      
413
  
Non-GAAP Net income  
    
2,454
      
9,936
      
5,031
      
14,679
  
                                 
GAAP basic net income (loss) per share
    
(0.01
)
    
0.09
      
(0.03
)
    
0.10
  
                                 
GAAP diluted net income (loss) per share
    
(0.01
)
    
0.09
      
(0.03
)
    
0.09
  
                                 
Non-GAAP Diluted net income per share
    
0.03
      
0.11
      
0.06
      
0.17
  
                                 
Weighted average number of shares used in computing GAAP basic net income (loss) per share
    
89,470,719
      
85,743,770
      
89,108,772
      
85,632,241
  
                                 
Weighted average number of shares used in computing GAAP diluted net income (loss) per share
    
89,470,719
      
87,921,507
      
89,108,772
      
87,753,163
  
                                 
Weighted average number of shares used in computing Non-GAAP diluted net income per share
    
91,245,422
      
87,921,507
      
91,381,985
      
87,753,163
  

(*) Consists of charges to cost of revenues for the difference between the fair value of acquired inventory in business combination, which was recorded at fair value, and the actual cost of this inventory, which impacts the Company’s gross profit.