Core Insights - Gilat Satellite Networks Ltd. (GILT) has secured $27 million in new orders for its advanced electronically steered antenna (ESA) terminal technology, with deliveries planned primarily over the next 12 months [1][11]. Company Performance - The Gilat Stellar Blu ESA terminal is gaining traction in the aviation industry due to its compact design, high performance, and multi-orbit capability, catering to the demand for seamless in-flight connectivity [2]. - In Q1 2025, Gilat reported adjusted earnings per share of 3 cents, down from 11 cents a year ago, while revenues reached $92 million, reflecting a 21% increase year over year, primarily driven by the Commercial segment and the acquisition of Stellar Blu [6][8]. - Commercial revenues accounted for 70% of net sales in Q1 2025, rising 56% year over year, largely due to the Stellar Blu acquisition, which contributed $25 million in revenues [8][11]. - The Defense segment also showed strong performance, with revenues increasing 34% year over year, supported by robust delivery volumes to defense customers in the United States and Asia [8]. Market Trends - The market for airborne connectivity solutions is experiencing robust growth, driven by strong investment across various sectors, indicating a rising global demand for advanced communication technologies [3][5]. - Gilat's Defense unit is benefiting from increased global investment in secure communication technologies, positioning the company to capitalize on geopolitical uncertainties and the need for enhanced communication infrastructure [7]. Future Outlook - Management projects 2025 revenues to be between $415 million and $455 million, with adjusted EBITDA expected to range from $47 million to $53 million [9]. - Despite the positive outlook, the company faces challenges from global macroeconomic uncertainty and changing international trade policies [9].

Core Insights - Gilat Satellite Networks Ltd. has secured $27 million for its Stellar Blu ESA Terminal technology, with deliveries expected over the next 12 months [1][2][4] - The company's ESA terminal technology is gaining traction in the aviation market, addressing the increasing connectivity demands of commercial, business, and defense airborne platforms [2][3] - The airborne communications market is experiencing strong momentum, supported by sustained investment across all sectors, indicating a continued demand for innovative connectivity solutions [3][4] Company Overview - Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications, with over 35 years of experience in developing technology solutions for satellite and ground connectivity [4][5] - The company offers a comprehensive portfolio that includes high-performance satellite terminals, cloud-based platforms, and integrated ground systems for both commercial and defense markets [5][6] - Gilat's products support various applications, including government and defense, broadband access, and critical infrastructure, while meeting stringent service level requirements [6]

Core Insights - Gilat Satellite Networks Ltd. has secured a $40 million contract for its virtualized SkyEdge IV platform, which is designed with a cloud-native architecture and is ready for future 5G-NTN standards, marking a significant advancement in satellite ground network transformation [1][2][3] Company Overview - Gilat Satellite Networks is a leading global provider of satellite-based broadband communications with over 35 years of experience, focusing on deep technology solutions for satellite, ground, and new space connectivity [4][5] Product and Technology Development - The SkyEdge IV platform is fully virtualized and utilizes the DIFI digital interface open standard, providing unprecedented adaptability, scalability, and efficiency for satellite operators [2][3] - The deployment of the SkyEdge IV platform is a crucial step in Gilat's evolution plan towards 5G NTN, promising ubiquitous connectivity across terrestrial and non-terrestrial networks and creating new revenue streams from emerging use cases [3][4] Market Applications - Gilat's products support various applications including government and defense, broadband access, cellular backhaul, and critical infrastructure, meeting stringent service level requirements [5][6]

Core Insights - Gilat Satellite Networks Ltd. received over $25 million in orders from leading global satellite operators, indicating strong demand for its In-Flight Connectivity (IFC) solutions and broader satellite-based connectivity services [1][2][4] - The orders reflect confidence in Gilat's product portfolio for multi-orbit constellations, including GEO, MEO, and LEO, which are essential for high-quality broadband connectivity [2][3] - Gilat's technologies are designed to meet the stringent requirements of mobility-driven services, ensuring performance, efficiency, and reliability [3][4] Company Overview - Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications with over 35 years of experience [4][5] - The company offers integrated solutions supporting multi-orbit constellations, Very High Throughput Satellites (VHTS), and Software-Defined Satellites (SDS) through its Commercial and Defense Divisions [5][6] - Gilat's product portfolio includes cloud-based platforms, high-performance satellite terminals, advanced antennas, and integrated ground systems for various markets [5][6] Market Dynamics - There is an accelerating demand for high-quality In-Flight Connectivity as satellite operators expand their service offerings to meet rising expectations from the aviation industry [4] - Gilat's solutions support multiple applications, including government and defense, broadband access, cellular backhaul, and critical infrastructure, while adhering to stringent service level requirements [6]

Core Insights - Gilat Satellite Networks Ltd. reported a first-quarter 2025 adjusted EPS of 3 cents, down from 11 cents a year ago, missing the Zacks Consensus Estimate by 57.14% [1] - Revenues for the quarter reached $92 million, a 21% increase year-over-year, primarily driven by the Commercial segment and the acquisition of Stellar Blu, but fell short of the Zacks Consensus Estimate of $107 million [2] Financial Performance - Commercial revenues, which account for 70% of net sales, rose 56% year-over-year to $64.2 million, boosted by the Stellar Blu acquisition, which contributed $25 million [7] - Defense revenues increased by 34% year-over-year to $23 million, supported by strong delivery volumes to defense customers in the U.S. and Asia [7] - Revenues from the Peru segment decreased to $4.8 million from $17.7 million in the prior-year quarter due to project delays and postponed bids [8] - Non-GAAP gross margin fell to 31.7% from 37.8%, and non-GAAP operating income decreased to $5.2 million from $6.6 million year-over-year [11] - Adjusted EBITDA declined 18.3% year-over-year to $7.6 million, impacted by a $3.6 million loss from Gilat Stellar Blu [11] Cash Flow & Liquidity - The company utilized $6.6 million of net cash from operating activities in the quarter, compared to $4.2 million generated in the prior-year quarter, primarily for Stellar Blu's working capital needs [12] - As of March 31, 2025, cash and cash equivalents stood at $63.8 million, down from $119.4 million as of December 31, 2024 [12] Strategic Developments - The Gilat Defense unit is experiencing growth due to increased global investment in secure communication technologies, positioning it as a significant revenue stream [3] - The commercial segment is expanding, particularly through the Gilat Stellar Blu and its Sidewinder electronically steered array (ESA) product, which is now installed on over 150 aircraft [4] - New applications for Sidewinder are in development, and efforts are being made to broaden modem compatibility [5] - The company has restructured its organization into three divisions: Gilat Defense, Gilat Commercial, and Gilat Peru, effective January 1, 2025 [6] 2025 Guidance - Management reiterated its 2025 revenue guidance of $415 million to $455 million, with adjusted EBITDA expected to range from $47 million to $53 million [13]

Company Performance - Gilat Satellite (GILT) reported quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.07 per share, and down from $0.11 per share a year ago, representing an earnings surprise of -57.14% [1] - The company posted revenues of $92.04 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 13.98%, compared to year-ago revenues of $76.08 million [2] - Over the last four quarters, Gilat has surpassed consensus EPS estimates two times but has not been able to beat consensus revenue estimates [2] Stock Outlook - Gilat shares have increased approximately 8.6% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to those expectations [4] - The current consensus EPS estimate for the coming quarter is $0.11 on revenues of $109.5 million, and $0.50 on revenues of $443 million for the current fiscal year [7] Industry Context - The Satellite and Communication industry, to which Gilat belongs, is currently ranked in the bottom 28% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Gilat's stock performance [5][6]

Financial Data and Key Metrics Changes - Q1 2025 revenues reached $92 million, a 21% increase year over year from $76.1 million in Q1 2024 [8][28] - Adjusted EBITDA for Q1 2025 was $7.6 million, with an organic adjusted EBITDA of $11.2 million, representing a 20% year over year increase [8][33] - GAAP net loss for Q1 2025 was $6 million, or a loss per share of $0.10, compared to a net income of $5 million, or diluted income per share of $0.09 in Q1 2024 [32][33] Business Line Data and Key Metrics Changes - Commercial segment revenues for Q1 2025 were $64.2 million, a 56% increase from $41.2 million in Q1 2024, primarily due to the acquisition of Stellar Blue [28] - Defense segment revenues increased by 34% to $23 million in Q1 2025 from $17.2 million in Q1 2024, driven by high deliveries to defense customers in the U.S. and Asia [29] - Peru segment revenues declined to $4.8 million in Q1 2025 from $17.7 million in Q1 2024, attributed to delays in project renewals and slower progress on existing projects [29][30] Market Data and Key Metrics Changes - The company is seeing increased demand from diverse geographical markets, including North America, Europe, and Asia Pacific, particularly in the defense sector [12][13] - In Europe, there is a growing demand for secure high-performance communication over satellites, driven by increased defense budgets [12][13] Company Strategy and Development Direction - The company is focused on accelerating revenues in 2025, capitalizing on the acquisition of Stellar Blue and strong demand for Gilat Defense Solutions [7][23] - Increased investment in R&D and sales and marketing for Gilat Defense is planned for 2025 to enhance product offerings and market presence [16][24] - The company aims to leverage its diverse product portfolio to support the evolution of satellite communications and address the digital divide [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of global economic uncertainty and shifting international trade policies on business operations, indicating proactive adjustments to raw material sourcing [9][10] - The company reiterated its 2025 annual guidance, projecting revenues between $415 million and $455 million, representing year-over-year growth of 42% at the midpoint [35] Other Important Information - Stellar Blue is expected to contribute between $120 million and $150 million in revenue for the year, with a target of achieving a 10% adjusted EBITDA margin in the second half of 2025 [9][49] - The company secured a $100 million credit line to finance the acquisition of Stellar Blue, utilizing $60 million of it [34] Q&A Session Summary Question: Is the defense business expected to benefit from increases in European defense spending? - Management indicated that there is traction from increased defense budgets in Europe, with expectations for decent business growth in the mid-term [38] Question: What milestones need to be achieved for the Boeing line fit program? - Management stated that adaptations to the terminal are in progress, with certification expected within the next two to three quarters [39] Question: How should revenue linearity in Peru be viewed over the next few quarters? - Management expects a revenue run rate of $45 million to $50 million for Peru, with delays in project renewals impacting current revenues [40][41] Question: How is the integration of Stellar Blue progressing? - Management reported good progress, with significant market acceptance and feedback, and expects to resolve supply chain issues soon [47][48] Question: What is the anticipated revenue structure for primary and secondary aviation markets? - Management indicated that 100% of revenues in 2025 will come from retrofit, with expectations for a 50-50 split between retrofit and line fit by mid to late 2026 [60] Question: What is the impact of tariffs on the business? - Management noted that the effect of tariffs is currently not significant, and proactive measures have been taken to shift sourcing to lower tariff countries [102]

Financial Data and Key Metrics Changes - Q1 2025 revenues reached $92 million, a 21% increase year over year from $76.1 million in Q1 2024 [7][26] - Adjusted EBITDA for Q1 2025 was $7.6 million, with an organic adjusted EBITDA of $11.2 million, representing a 20% year over year increase [7][31] - GAAP net loss in Q1 2025 was $6 million, or a loss per share of $0.10, compared to a net income of $5 million, or $0.09 per share in Q1 2024 [30] Business Line Data and Key Metrics Changes - Commercial segment revenues in Q1 2025 were $64.2 million, a 56% increase from $41.2 million in Q1 2024, primarily due to the acquisition of Stellar Blue [26] - Defense segment revenues increased by 34% to $23 million in Q1 2025 from $17.2 million in Q1 2024, driven by high deliveries to U.S. and Asia defense customers [27] - Peru segment revenues decreased to $4.8 million in Q1 2025 from $17.7 million in Q1 2024, attributed to delays in project renewals and slower progress on existing projects [27][28] Market Data and Key Metrics Changes - Demand for Gilat Defense solutions is increasing, particularly in North America, Europe, and Asia Pacific, with a notable rise in European defense budgets [12][11] - The company secured multiple contracts in Q1 2025, including over $5 million for U.S. DoD connectivity and $23 million for satellite transportable terminals [13][14] Company Strategy and Development Direction - The company is focusing on its newly aligned organizational structure, emphasizing growth in defense, VHTS, and NGSO constellations, as well as in-flight connectivity [6][10] - Gilat plans to increase investment in R&D and sales for its defense segment in 2025, launching several new products to enhance its market position [15][19] - The company aims to leverage its diverse product portfolio to support the growing demand for mission-critical defense connectivity and satellite communications [22][23] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by global economic uncertainty and shifting trade policies but expressed confidence in the company's proactive adjustments to sourcing and production [9][10] - The company reiterated its 2025 revenue guidance of $415 million to $455 million, representing a year-over-year growth of 42% at the midpoint [33] Other Important Information - The acquisition of Stellar Blue was completed on January 6, 2025, contributing approximately $25 million to Q1 revenues but also incurring an adjusted EBITDA loss of $3.6 million [7][26] - The company secured a $100 million credit line to finance the acquisition, utilizing $60 million for this purpose [32] Q&A Session Summary Question: Is the defense business expected to benefit from increases in European defense spending? - Management indicated that there is significant traction from increased European defense budgets, with expectations for decent business growth in the mid-term [37] Question: What milestones need to be achieved for the Boeing line fit program? - Management stated that adaptations to the terminal are ongoing, with certification expected within the next two to three quarters [38] Question: How should revenue linearity in Peru be viewed over the next few quarters? - Management expects a revenue run rate of $45 million to $50 million for Peru, with significant revenue anticipated in Q2 and Q3 due to project renewals and hardware deliveries [39][40] Question: How is the integration of Stellar Blue progressing? - Management reported good progress, with strong market acceptance and feedback, and expects to meet revenue goals for Stellar Blue [46][49] Question: What is the anticipated production rate for Sidewinder by the end of the year? - Management expects to reach a production rate of about 100 units per month by the end of the year [56] Question: What is the impact of tariffs on the business? - Management noted that the effect of tariffs is currently not significant, as proactive sourcing adjustments have been made [101][102]

Core Insights - Gilat Satellite Networks Ltd. reported a revenue increase of 21% year-over-year, reaching $92 million in Q1 2025, compared to $76.1 million in Q1 2024 [7] - The company reiterated its guidance for 2025, expecting revenues between $415 million and $455 million, which represents a year-over-year growth of 42% at the midpoint [4] - Adjusted EBITDA for Q1 2025 was $7.6 million, down from $9.3 million in Q1 2024, primarily due to a $3.6 million loss from the ramp-up of Gilat Stellar Blu [7][12] Financial Performance - Revenues for Q1 2025 were $92 million, a 21% increase from $76.1 million in Q1 2024 [7] - GAAP operating loss was $2.7 million, compared to a GAAP operating income of $5.4 million in Q1 2024 [7] - Non-GAAP operating income decreased to $5.2 million from $6.6 million in Q1 2024 [7] - GAAP net loss was $6.0 million, or $0.11 per share, compared to a net income of $5.0 million, or $0.09 per diluted share, in Q1 2024 [7] - Non-GAAP net income was $1.8 million, or $0.03 per diluted share, down from $6.0 million, or $0.11 per diluted share, in Q1 2024 [7] Business Segments - The commercial segment generated $64.2 million in revenue, up from $41.2 million in Q1 2024, while the defense segment increased to $23.0 million from $17.2 million [25] - The company is experiencing significant momentum in its defense sector, driven by increased demand for secure communications [5] Future Outlook - The company expects adjusted EBITDA for 2025 to be between $47 million and $53 million, representing an 18% year-over-year growth at the midpoint [4] - Management expressed confidence in achieving a record year in both revenues and non-GAAP profitability, supported by the ramp-up of Gilat Stellar Blu and expanding opportunities in mission-critical communications [5] Recent Contracts and Orders - Gilat received over $15 million in orders from leading satellite operators and a multimillion-dollar order from a global defense organization [8] - The company was awarded a contract worth up to $23 million to service satellite transportable terminal units for U.S. Department of Defense customers [8]

FORM 6 – K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report on Foreign Issuer Pursuant to Rule 13a – 16 or 15d – 16 of the Securities Exchange Act of 1934 For the Month of May, 2025 Gilat Satellite Networks Ltd. (Translation of Registrant's Name into English) Gilat House, 21 Yegia Kapayim Street Daniv Park, Kiryat Arye, Petah Tikva 4913020, Israel (Address of Principal Corporate Offices) Form 20-F ☒ Form 40-F ☐ Indicate by check mark whether the registrant by furnishing the information conta ...