Gilat Reports First Quarter 2025 Results

Petah Tikva, Israel, May 19, 2025 — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), today reported its results for the first quarter, ended March 31, 2025. The company reported that revenues Increased 21% Year-over-Year with Adjusted EBITDA of US$ 7.6 Million

First Quarter 2025 Financial Highlights

  • Revenues of US$ 92 million, up 21% compared with $76.1 million in Q1 2024;
  • GAAP operating loss of US$ 2.7 million, compared with GAAP operating income of US$ 5.4 million in Q1 2024 mainly due to a loss of about US$ 3.6 million from Gilat Stellar Blu’s ramp up process, amortization of purchased intangibles derived from the Stellar Blu acquisition, and other operating expenses, related to earnout liabilities and one-time acquisition-related costs;
  • Non-GAAP operating income of US$ 5.2 million, compared with $6.6 million in Q1 2024;
  • GAAP net loss of US$ 6.0 million, or $0.11 per share, compared with GAAP net income of US$ 5.0 million, or US$ 0.09 per diluted share, in Q1 2024;
  • Non-GAAP net income of US$ 1.8 million, or US$ 0.03 per diluted share, compared with US$ 6.0 million, or US$ 0.11 per diluted share, in Q1 2024;
  • Adjusted EBITDA of US$ 7.6 million, compared with US$ 9.3 million in Q1 2024, which includes a loss of about US$ 3.6 million from Gilat Stellar Blu’s ramp up process. Adjusted EBITDA, excluding such loss, was US$ 11.2 million.

Forward-Looking Expectations

The company today reiterated its guidance for 2025. Expectations are for revenue between US$ 415 and US $455 million, representing year-over-year growth of 42% at the midpoint. Adjusted EBITDA is expected to be between US$ 47 and US$ 53 million, representing year-over-year growth of 18% at the midpoint.  

Adi Sfadia, Gilat’s CEO, commented: “Gilat delivered solid Q1 2025 results, demonstrating strong execution across the company and positive impact from our new organizational structure. Gilat Defense is experiencing significant momentum, fueled by growing demand for its broad portfolio of products and services and is becoming an increasingly important contributor to our growth. This growth is supported by macro-geopolitical factors that are driving increased investment in secure, mission-critical communications worldwide.”

Sfadia added, “Regarding Gilat Commercial, our IFC business continues to expand as we deliver on customer commitments and grow our market base. Gilat Stellar Blu’s ramp up is on track, and its Sidewinder ESA is now flying on over 150 aircraft, with strong feedback and additional orders expected very soon. We are collaborating with our partners to expand into new applications such as ISR and VVIP aviation. We’re also in the process of developing OEM  installation and broader modem compatibility, further establishing Sidewinder as the go-to multi-orbit IFC solution.”

Sfadia concluded, “Based on our strong beginning to 2025 and as Stellar Blu’s ramp up finalizes, we are on track to deliver a record year in both revenues and non-GAAP profitability as we capture the expanding opportunities in mission-critical communications and next-generation satellite solutions.”