Page 1

Q3 2021 Financial Highlights : ● ● ● ● Q3 2021 Business Highlights : ● CERAGON NETWORKS REPORTS 2021 THIRD QUARTER FINANCIAL RESULTS ● Revenues of $ 76.1 million Operating income of $ 2.9 million on a GAAP basis , or $ 4.0 million on a non - GAAP basis EPS of $ 0.00 per diluted share on a GAAP basis , or $ 0.02 per diluted share on a non - GAAP basis Strong bookings in North America , India and Europe ; book - to - bill above 1 Eighteen 5G design wins to date , across all geographies North America : CERAGON Strong quarter , especially in regards to Tier 1 activity O 5G - related bookings accounted for over 50 % of all North American bookings year - to - date Europe : 5G - related bookings accounted for over 35 % of all European bookings year - to - date India : Continued healthy demand for network upgrades and expansion Little Falls , New Jersey , November 1 , 2021 - Ceragon Networks Ltd. ( NASDAQ : CRNT ) , the global innovator and leading solutions provider of 5G wireless transport , today reported its financial results for the third quarter ended September 30 , 2021 . Doron Arazi , CEO , commented : " I'm pleased to report a successful third quarter . We experienced significant growth in our revenues and returned to profitability . Across different regions , we enjoyed sustained robust bookings , the addition of new customers , and the increase in our backlog , giving us confidence for the remainder of the year . We achieved new 5G design wins . Against the backdrop of the ongoing challenges in component and shipping industries , we are doing the utmost to support our customers in meeting their goals , even on account of increased costs for us . At Ceragon , we operate with a vision to create equal digital opportunities for all people around the world . We do this by bringing communication capabilities everywhere . We are pleased to see operators and network providers on accelerated schedules , and more governments working to bring better communication infrastructure to rural areas . They all want the highest quality solution and they all want it fast . We are proud that we are able to meet most of their demands . " Primary Third Quarter 2021 Financial Results : Revenues were $ 76.1 million , up 7.8 % from $ 70.6 million in Q3 2020 and up 10.9 % from $ 68.6 million in Q2 2021. The increase from Q3 2020 is mainly attributed to stronger sales in India . Gross profit was $ 23.5 million , giving us a gross margin of 30.9 % , compared with a gross margin of 33.4 % in Q3 2020 and 31.9 % in Q2 2021 .