Milestone validates VSAT and Hub standardized 3GPP-Compliant 5G NTN technologies for satellite and mobile network operatorsPETAH TIKVA, Israel, Feb. 26, 2026 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, today announced the successful demonstration of 3GPP-compliant 5G Non-Terrestrial Network (NTN) connectivity over a Geostationary Earth Orbit (GEO) satellite. The demonstration validated the deliv ...

Core Viewpoint - Gilat Satellite Networks Ltd. has received $39 million in orders for its Sidewinder electronically steered antenna (ESA) terminals, indicating a significant rise in global demand for advanced in-flight connectivity solutions [1][2]. Group 1: Company Overview - Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications with over 35 years of experience [4]. - The company develops and delivers technology solutions for satellite, ground, and new space connectivity, focusing on critical connectivity across commercial and defense applications [4]. Group 2: Product and Market Demand - The new orders for Sidewinder ESA terminals reflect an accelerating global shift towards ESA solutions as airlines and service providers aim to meet the growing demand for high-quality in-flight broadband [2][3]. - The Sidewinder ESA terminal is designed for both linefit and retrofit installations, providing a high-quality connectivity experience across various aircraft types and flight paths [2][3]. Group 3: Strategic Positioning - Demand for high-performance ESA terminals is increasing as airlines seek seamless broadband connectivity across different geographies and satellite constellations [3]. - The Sidewinder ESA terminal offers efficiency, flexibility, and reliability, reinforcing Gilat's leadership in the expanding market for advanced in-flight connectivity across LEO, MEO, and GEO orbits [3].

Gilat Defense will deliver advanced modems to support and scale secure, mission-critical satellite communications for defense operations PETAH TIKVA, Israel, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that its defense division, Gilat Defense, has been awarded a contract valued $9 million by Israel’s Ministry of Defense for the delivery and integration of satellite ...

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Core Insights - Gilat Satellite Networks Ltd. has received an order exceeding $16 million from a European Ministry of Defense for the DKET 3421 transportable terminal, marking its first contract with this ministry and expanding its presence in European defense programs [1][3]. Company Overview - Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications with over 35 years of experience, focusing on delivering technology solutions for satellite, ground, and new space connectivity [3][4]. - The company offers a comprehensive portfolio that includes software-defined platforms, high-performance satellite terminals, and integrated ground systems for both commercial and defense markets [4][5]. Product Details - The DKET 3421 is a combat-proven, 4.2-meter rugged terminal designed for demanding mission requirements, featuring multi-carrier capability and a scalable modem architecture of up to 32 modems, enabling high-throughput connectivity for forward-deployed forces [2][3]. - The DKET platform is recognized as a trusted global solution for hub-class SATCOM infrastructure, particularly in dynamic environments where flexible and rapidly deployable communications are essential [2][3]. Market Position - The demand for field-proven systems like the DKET 3421 is increasing, as evidenced by its use by the U.S. Army and various Ministries of Defense worldwide, indicating a strong market position for Gilat in the defense sector [3].

Core Insights - Gilat Satellite Networks reported strong fourth-quarter and full-year 2025 results, highlighting significant year-over-year revenue growth and increased adjusted EBITDA driven by expansion in commercial in-flight connectivity (IFC), defense activities, and network upgrades in Peru [3][6]. Financial Performance - Q4 2025 revenue reached $137 million, a 75% increase from the prior year, while full-year revenue rose to $451.7 million, up 48% compared to 2024, including 6% organic growth [2][6]. - Adjusted EBITDA for Q4 was $18.2 million, reflecting a 50% year-over-year increase, and for the full year, it was $53.2 million, up 26% [2][6]. - GAAP operating income was $13.0 million, slightly up from $12.8 million in Q4 2024, while GAAP net income decreased to $8.8 million, or $0.13 per diluted share, down from $11.8 million, or $0.21 per diluted share, primarily due to higher financing costs and tax expenses [6]. Segment Performance - Commercial revenue in Q4 was $75.1 million, a 103% increase, driven by IFC and contributions from the Stellar Blu acquisition [2][5]. - The defense segment had a record year with new orders, including a ~$10 million Earth observation order, and Peru secured over $85 million in upgrades [4][8]. - Stellar Blu contributed approximately $127 million in revenue for 2025, with expectations for double-digit growth in unit deliveries in 2026 [12][14]. Strategic Initiatives - The company is focusing on M&A, particularly in defense-related capabilities, and is evaluating adjacent areas such as radar solutions and electronic warfare [20]. - Gilat strengthened its liquidity with $166 million in capital raises and repaid a $60 million loan related to the Stellar Blu acquisition [4][18]. Future Guidance - For 2026, the company projects revenue between $500 million and $520 million and adjusted EBITDA of $61 million to $66 million [20]. - The Peru segment is expected to generate revenue of $60 million to $65 million in 2026, reflecting an 11% decrease at the midpoint due to lower construction revenue [17].

Core Viewpoint - Gilat Satellite Networks reported strong Q4 2025 results, exceeding analyst expectations, yet the stock fell 19.3% due to concerns over declining GAAP earnings and lack of clear guidance for future profits [1][2][3][4]. Financial Performance - Q4 2025 earnings per share were $0.20, surpassing the expected $0.14, with revenue reaching $137 million compared to the forecast of $78.1 million, marking a 75% increase in sales [1][2]. - However, GAAP earnings were only $0.13, reflecting a 38% decline year over year, while operating income remained flat [2]. - For the full fiscal year 2025, sales increased by 48%, but operating profit decreased by 15% and net income fell by 23% [3]. Future Guidance - Gilat anticipates a 30% growth in sales for 2026, projecting revenue of approximately $510 million and adjusted EBITDA between $61 million and $66 million [3]. - There was no guidance provided for GAAP profits or free cash flow for 2026, raising concerns among investors [4]. Market Sentiment - CEO Adi Sfadia described Q4 as "strong" and expressed optimism for 2026, yet the stock is currently valued at over 45 times trailing earnings, which are on the decline, suggesting it may be more of a sell than a buy [4]. - Analysts from The Motley Fool Stock Advisor did not include Gilat in their list of top investment recommendations, indicating a cautious outlook on the stock [5].

Financial Data and Key Metrics Changes - Fourth quarter revenue reached $137 million, up 75% year-over-year, while full year revenue rose to $451.7 million, up 48% with 6% year-over-year organic growth [5][16] - Adjusted EBITDA for the fourth quarter was $18.2 million, a 50% increase compared to the same quarter last year, and full year adjusted EBITDA hit $53.2 million, a 26% growth year-over-year [6][23] - GAAP net income for the fourth quarter was $8.8 million, or diluted income per share of $0.13, compared to $11.8 million, or diluted income per share of $0.21 in Q4 2024 [21] Business Line Data and Key Metrics Changes - Commercial segment revenues for Q4 2025 were $75.1 million, a 103% increase from $37 million in Q4 2024, driven by in-flight connectivity (IFC) [17] - Defense segment revenues for Q4 2025 were $33.3 million, a 14% increase from $29.4 million in the same quarter last year [17] - Peru segment revenues for Q4 2025 were $28.5 million, compared to $11.8 million in Q4 2024, driven by new upgrade projects [18] Market Data and Key Metrics Changes - The defense business saw strong year-over-year growth in new order bookings and customer engagement, with a record year for sales driven by U.S. and allied defense customers [8] - The commercial business experienced increased demand for advanced IFC, with significant orders from leading satellite operators [9][10] - Gilat Peru closed over $85 million in agreements for upgrading regional networks, reinforcing its role in national connectivity initiatives [12] Company Strategy and Development Direction - The company plans to focus on driving revenue growth in defense through business development, R&D investment, and portfolio expansion, while pursuing opportunities in government communication programs [13][14] - In the commercial sector, the strategy includes expanding the IFC product portfolio and customer base, particularly for next-generation aircraft connectivity [14] - Mergers and acquisitions will focus on defense-related capabilities to complement existing strengths, with an emphasis on companies with significant revenue potential [14][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the defense market, noting good visibility into revenues with 50%-60% already in backlog [29] - The company expects 2026 revenues to be between $500-$520 million, representing a 13% growth year-over-year, with adjusted EBITDA expected between $61-$66 million [26] - Management highlighted the importance of maintaining momentum and addressing the growing demand for secure satellite connectivity [14][30] Other Important Information - The company raised $166 million in capital during 2025, enhancing its ability to pursue strategic opportunities [14][24] - The gross margin for Q4 2025 was 28%, down from 40% in Q4 2024, primarily due to lower margins at Stellar Blu [18] Q&A Session Summary Question: Update on defense market visibility - Management indicated that 50%-60% of revenues are already in backlog, with large projects expected to secure revenue in the first half of the year [29][30] Question: Roadmap for LineFit in IFC - Progress is being made with Boeing LineFit certification expected in the first half of the year, while Airbus is in initial phases [31] Question: Cadence of Peru business - Discussions are ongoing for upgrading remaining networks, with expectations for RFPs to be issued before the election [33] Question: Earth observation contracts and margins - Earth observation contracts are expected to have a margin profile similar to the average of Gilat, between 30%-40% [39] Question: M&A focus areas - The primary focus is on defense-related capabilities, with an interest in expanding market presence in the U.S. and Europe [45]

Financial Data and Key Metrics Changes - Fourth quarter revenue reached $137 million, up 75% year-over-year, while full year revenue rose to $451.7 million, up 48% with 6% year-over-year organic growth [5][23] - Adjusted EBITDA for the fourth quarter was $18.2 million, a 50% increase compared to the same quarter last year, and full year Adjusted EBITDA hit $53.2 million, a 26% growth year-over-year [6][30] - GAAP net income for Q4 was $8.8 million, or diluted income per share of $0.13, compared to $11.8 million, or diluted income per share of $0.21 in Q4 2024 [28] Business Line Data and Key Metrics Changes - Commercial segment revenues for Q4 2025 were $75.1 million, a 103% increase from $37 million in Q4 2024, driven by in-flight connectivity (IFC) [24] - Defense segment revenues for Q4 2025 were $33.3 million, a 14% increase from $29.4 million in the same quarter last year [25] - Peru segment revenues for Q4 2025 were $28.5 million, compared to $11.8 million in Q4 2024, driven by new upgrade projects [26] Market Data and Key Metrics Changes - The defense business saw strong year-over-year growth in new order bookings and customer engagement, with a record year for sales driven by U.S. and allied defense customers [9] - The commercial business experienced increased demand for advanced IFC, with significant orders received from global satellite operators [12][13] - Gilat Peru secured over $85 million in agreements for upgrading regional networks, reinforcing its role in national connectivity initiatives [18] Company Strategy and Development Direction - The company plans to focus on driving revenue growth in defense through business development, R&D investment, and portfolio expansion, while pursuing opportunities in government communication programs [20][21] - In the commercial sector, the strategy includes expanding the IFC product portfolio and increasing the customer base for SkyEdge IV [21] - Gilat aims to enhance its competitive advantage through technology leadership in multi-orbit connectivity and advanced 5G NTN capabilities, with a focus on mergers and acquisitions in defense-related areas [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the defense market, noting good visibility into revenues with 50%-60% already in backlog for the year [36] - The company anticipates continued growth in 2026, with expected revenues between $500 million and $520 million, and Adjusted EBITDA between $61 million and $66 million [19][32] - Management highlighted the importance of ongoing projects in Peru and the expectation of additional large RFPs during 2026 [19] Other Important Information - The company raised $166 million in capital during 2025, enhancing its ability to pursue strategic opportunities [22] - The gross margin for Q4 2025 was 28%, down from 40% in Q4 2024, primarily due to lower margins at Stellar Blu [26] Q&A Session Summary Question: Update on defense market visibility - Management indicated that 50%-60% of revenues are already in backlog, with no negative impact from recent U.S. budget issues, and strong demand in the U.S., Israel, and Europe [36] Question: Roadmap for LineFit in IFC - Progress is being made with Boeing for LineFit certification expected in the first half of the year, while Airbus is in initial phases [37] Question: Cadence of Peru business - Management expects to close discussions on upgrading remaining networks before the upcoming election, with significant RFPs anticipated [39] Question: Earth observation contracts and margins - Earth observation contracts are expected to have a margin profile similar to the average of Gilat, between 30%-40% [45] Question: M&A focus areas post-private placement - The company is targeting defense-related capabilities, particularly in the U.S. and Europe, with a focus on companies with significant revenue potential [51] Question: Stellar Blu's revenue and growth projection - Stellar Blu's revenue for 2025 was approximately $127 million, with expectations for double-digit growth in 2026 [56]

Financial Data and Key Metrics Changes - Fourth quarter revenue reached $137 million, up 75% year-over-year, while full year revenue rose to $451.7 million, up 48% with 6% year-over-year organic growth [5][16] - Adjusted EBITDA for the fourth quarter was $18.2 million, a 50% increase compared to the same quarter last year, and full year adjusted EBITDA hit $53.2 million, a 26% growth year-over-year [5][19] - Gross margin in Q4 2025 was 28%, down from 40% in Q4 2024, primarily due to lower margins at Stellar Blu and additional amortization expenses [17] Business Line Data and Key Metrics Changes - Commercial segment revenues for Q4 2025 were $75.1 million, a 103% increase from $37 million in Q4 2024, driven by in-flight connectivity (IFC) [17] - Defense segment revenues for Q4 2025 were $33.3 million, a 14% increase from $29.4 million in the same quarter last year [17] - Peru segment revenues for Q4 2025 were $28.5 million, compared to $11.8 million in Q4 2024, driven by new upgrade projects [17] Market Data and Key Metrics Changes - The defense business saw strong year-over-year growth in new order bookings and customer engagement, with a record year for sales driven by U.S. and allied defense customers [6][7] - The commercial business experienced increased demand for advanced IFC, with significant orders received from leading satellite operators [8][9] - Gilat Peru secured over $85 million in agreements for upgrading regional networks, reinforcing its role in national connectivity initiatives [11] Company Strategy and Development Direction - The company plans to focus on driving revenue growth in defense through business development, R&D investment, and portfolio expansion, while pursuing opportunities in government communication programs [13][14] - In the commercial sector, the strategy includes expanding the IFC product portfolio and increasing the customer base for SkyEdge IV [14] - Mergers and acquisitions will focus on defense-related capabilities to complement existing strengths, with an emphasis on companies with significant revenue potential [40][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the defense market, noting good visibility into revenues with 50%-60% already in backlog [25] - The company expects 2026 revenues to be between $500-$520 million, representing a 13% growth year-over-year, and adjusted EBITDA to be between $61-$66 million [22] - Management highlighted the importance of maintaining momentum and addressing the growing demand for secure satellite connectivity [14][25] Other Important Information - The company raised $166 million in capital in 2025, enhancing its ability to pursue strategic opportunities [20][14] - The backlog is expected to support revenues for 2026 and beyond, with a strong pipeline of opportunities across divisions [12][22] Q&A Session Summary Question: Update on defense market visibility - Management indicated that 50%-60% of revenues are already in backlog, with no expected impact from recent U.S. budget shutdowns, and noted increased traction in the U.S., Israel, and Europe [25] Question: Roadmap for LineFit in IFC - Progress is being made with Boeing for LineFit certification expected in the first half of the year, while Airbus is in initial phases [26] Question: Cadence of Peru business - Discussions are ongoing for upgrading additional networks before the upcoming election, with expectations for large RFPs in internet connectivity [29] Question: Earth observation contracts and margins - Earth observation contracts are expected to have a margin profile similar to the average of Gilat, around 30%-40% [34] Question: M&A focus areas post-private placement - The main focus is on defense-related companies in the U.S. and Europe, with an emphasis on businesses that can contribute significantly to revenues [40] Question: Stellar Blu's revenue and growth projections - Stellar Blu's revenue for 2025 was approximately $127 million, with expectations for double-digit growth in unit deliveries in 2026 [44]