Ceragon Networks Ltd. (NASDAQ:CRNT) Q3 2023 Earnings Call Transcript

Doron Arazi: So generally speaking, first of all, I mentioned 20 new customers in the domain of private networks and small operators. One thing is that this is widespread, but definitely North America has a very significant portion in this success. And just for you to understand, we are not counting every $5,000 new customer. The aggregate amount of this 20 new customers, initial orders is amounting to eight digit booking. So it’s not an insignificant amount. We see the opportunity in many regions and we are actually changing the structure of our sales force to be led by segment rather than by geography in each and every region. So for example, in Europe, now we have three categories. One is chasing T1 big operators, one is chasing private networks and one is chasing smaller transactions via channels.

So the focus on private networks is increasing. And as I said, the wins are not just in North America, although in North America, we are very, so to speak, pleased with the progress, but this is meant to be a global effort, not just in North America.

Unidentified Analyst: Great, thank you very much, Doron.

Operator: Thank you. [Operator Instructions] You have no further questions. Please proceed to closing statement.

Doron Arazi: To close, we are encouraged by our year-to-date results and we believe that we are well positioned to achieve self-sustaining cash flows as we execute our growth strategy. We’re excited about the opportunities in front of Ceragon. We have commenced our strategic planning and budgeting process for 2024 and we anticipate achieving organic growth business next year. We announced a pending closing strategic acquisition that we believe will accelerate Ceragon’s strategy execution and can provide incremental growth opportunities and extend our margin expansion efforts. We expect to communicate our guidance for 2024 when we announce Q4 2023 results. I look forward to updating you further on our next quarterly call. Have a good day, everyone.

Unidentified Company Representative: Goodbye.