SEC Form 6-K filed by Gilat Satellite Networks Ltd.

Gilat Reports Fourth Quarter and Full Year 2025 Results

 

Q4 Revenue of $137.0 million, GAAP Operating Income of $13.0 million

and Adjusted EBITDA of $18.2 million

2025 Revenue of $451.7 million, GAAP Operating Income of $23.4

million and a Record Adjusted EBITDA of $53.2 million

Guidance¹ for 2026 Calls for Double Digit Revenue and Adjusted EBITDA Growth

 

Petah Tikva, Israel, February 10, 2026 — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the fourth quarter and full year ended December 31, 2025.

 

Fourth Quarter 2025 Financial Highlights

 

 

 

 

 

 

 

Full Year 2025 Financial Highlights

 

 

 

 

 

 

 

Forward-Looking Expectations

 

Management’s financial guidance for 2026 is for revenue of between $500 to $520 million, representing a revenue growth rate of approximately 13% at the midpoint. Adjusted EBITDA for 2026 is expected to be between $61 to $66 million, representing a growth rate of approximately 19% at the midpoint¹.

 

Management Commentary

 

Adi Sfadia, Gilat's CEO, commented: "We ended 2025 with a very strong fourth quarter and a solid year, reflecting steady execution across the company, driven primarily by our key growth engines of Defense, IFC and advanced multi‑orbit solutions. Revenue increased both in the fourth quarter and for the full year, through organic growth and through acquistions. Adjusted EBITDA also improved, underscoring our operational strength and sustained demand for Gilat’s technology. Altogether, the results point to durable momentum as our solutions become more integral to global connectivity."

 

Mr. Sfadia added, "In the fourth quarter, we recorded several notable achievements. In the Defense Division, we continued to expand our customer base and opened a new segment with an Earth Observation (EO) solution to serve the unique needs of defense customers around the world. Our Commercial Division further secured its leadership position in both IFC and next-generation satellite ground platforms with large awards from new and existing customers. These outcomes highlight the breadth of our portfolio, the pace of innovation and our ability to integrate new products and acquired technologies."

 

Mr. Sfadia concluded, "For 2026, we expect continued double digit growth supported by a strong backlog and healthy pipelines. Moreover, with a solid balance sheet and over $183 million in net cash, we are continually exploring additional growth opportunities and potential targets."

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Key Recent Announcements

 

 

Conference Call Details

 

Following the release, Adi Sfadia, Chief Executive Officer, and Gil Benyamini, Chief Financial Officer, will discuss Gilat’s fourth quarter 2025 results and business achievements and participate in a question and answer session:

 

In English:

Date:               Tuesday, February 10, 2026

Start:               08:30 AM EST / 15:30 IST

 

A simultaneous webcast of the conference call will be available on the Gilat website at www.gilat.com and through this link: https://www.veidan-conferencing.com/gilat 

 

Or Dial-in:      US: 1-888-407-2553

                       International: +972-3-918-0609

 

In Hebrew:

Date:               Tuesday, February 10, 2026

Start:               09:30 AM EST / 16:30 IST

 

A simultaneous webcast of the conference call will be available on the Gilat website at www.gilat.com and through this link:

 

The webcasts will also be archived for a period of 30 days on the Company’s website and through the link above.

Non-GAAP Measures

 

The attached unaudited summary consolidated financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). To supplement the summary consolidated financial statements presented in accordance with GAAP, Gilat presents non-GAAP measurements of gross profit, operating expenses, operating income, income before taxes on income, net income, Adjusted EBITDA, and earnings per share. The adjustments to Gilat’s GAAP results are made with the intent of providing both management and investors with a more complete understanding of Gilat’s underlying operational results, trends, and performance. Non-GAAP financial measures mainly exclude, if and when applicable, the effect of stock-based compensation, amortization of purchased intangibles, lease incentive amortization, other non-recurring expenses, other integration expenses, other operating expenses (income), net, and income tax effect on the relevant adjustments.

 

Adjusted EBITDA is presented to compare Gilat’s performance to that of prior periods and evaluate Gilat’s financial and operating results on a consistent basis from period to period. The Company also believes this measure, when viewed in combination with Gilat’s financial results prepared in accordance with GAAP, provides useful information to investors to evaluate ongoing operating results and trends. Adjusted EBITDA, however, should not be considered as an alternative to operating income or net income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a measure of financial performance under GAAP and may not be comparable to other similarly titled measures for other companies. Reconciliation between the Company's net income and adjusted EBITDA is presented in the attached summary consolidated financial statements.

 

Non-GAAP presentations of gross profit, operating expenses, operating income, income before taxes on income, net income, adjusted EBITDA and earnings per share should not be considered in isolation or as a substitute for any of the consolidated statements of operations prepared in accordance with GAAP, or as an indication of Gilat’s operating performance or liquidity.

 

About Gilat

 

Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we develop and deliver deep technology solutions for satellite, ground, and new space connectivity, offering next-generation solutions and services for critical connectivity across commercial and defense applications.  We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.

Together with our wholly owned subsidiaries Gilat Wavestream, Gilat DataPath, and Gilat Stellar Blu, we offer integrated, high-value solutions supporting multi-orbit constellations, Very High Throughput Satellites (VHTS), and Software-Defined Satellites (SDS) via our Commercial and Defense Divisions. Our comprehensive portfolio is comprised of a software-defined platform and modems, high-performance satellite terminals, advanced Satellite On-the-Move (SOTM) antennas and ESAs, highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense markets, field services, network management software, and cybersecurity services.

 

Gilat’s products and tailored solutions support multiple applications including government and defense, IFC and mobility, cellular backhaul, enterprise, aerospace and critical infrastructure clients all while meeting the most stringent service level requirements. For more information,  please visit: http://www.gilat.com

 

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the U.S. Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.

 

Contact:

 

Gilat Satellite Networks

Hagay Katz, Chief Products and Marketing Officer

 

Alliance Advisors

 

GilatIR@allianceadvisors.com

Phone: +1 212 838 3777

GILAT SATELLITE NETWORKS LTD.

CONSOLIDATED STATEMENTS OF INCOME

U.S. dollars in thousands (except share and per share data)

GILAT SATELLITE NETWORKS LTD.

RECONCILIATION BETWEEN GAAP AND NON-GAAP CONSOLIDATED STATEMENTS OF INCOME

FOR COMPARATIVE PURPOSES

U.S. dollars in thousands (except share and per share data)

GILAT SATELLITE NETWORKS LTD.

ADJUSTED EBITDA:

(*) Including amortization of lease incentive

SEGMENT REVENUES:

GILAT SATELLITE NETWORKS LTD.

CONSOLIDATED BALANCE SHEETS (Cont.)

U.S. dollars in thousands