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Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a global leader in satellite-based broadband communications. With over 35 years of experience, Gilat designs and manufactures advanced ground segment equipment and delivers comprehensive solutions and end-to-end services. Their innovative portfolio includes a cloud-based VSAT network platform, high-speed modems, high-performance antennas, and high-power solid-state amplifiers (SSPA) and block upconverters (BUC).
Gilat’s solutions support a wide range of applications, including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense, and public safety. The company's products are known for their reliability and efficiency, meeting the most stringent service level requirements.
Recent achievements include:
- Providing additional 50W Ka-band BUCs for mobile Satellite Transportable Terminals (STTs).
- Supplying baseband equipment for comprehensive satellite communication architecture.
- Supporting social inclusion projects that provide internet connectivity in remote areas.
- Expanding In-Flight Connectivity (IFC) footprint into business aviation and government markets with the Taurus modem.
- Developing next-generation software-defined radio modems for military applications.
- Enabling SES's O3b mPOWER constellation with the SkyEdge IV platform for unparalleled service flexibility and scale.
Gilat's strong financial performance is highlighted by a 29% year-over-year revenue growth, GAAP operating income of $5.4 million, and an adjusted EBITDA of $9.3 million.
For more information, please visit: www.gilat.com
Gilat Satellite Networks reported strong Q3 2024 results with revenues of $74.6 million, up 17% year-over-year. The company achieved GAAP operating income of $6.7 million and Adjusted EBITDA of $10.7 million, up 13% from Q3 2023. Non-GAAP net income nearly doubled to $8.1 million. The company narrowed its 2024 revenue guidance to $305-315 million, representing 17% growth at mid-point, and raised GAAP operating income guidance to $24-26 million. The adjustment reflects the termination of Russian operations and receipt of $11 million from a Peru arbitration. Growth was primarily driven by the Satellite Network segment and expanded defense opportunities following the DataPath acquisition.
Gilat Satellite Networks (Nasdaq: GILT) has secured contracts worth approximately $5 million from multiple U.S. defense organizations. The company will provide advanced satellite communications (SATCOM) technologies and services to enhance mission-critical connectivity for defense applications. The deliverables include X, Ku, and Ka-band Block Upconverters (BUCs) for Communications-on-the-Move (COTM) systems, along with test and evaluation, repair, upgrades, engineering services, and field service. Delivery is expected within the coming months.
Gilat Satellite Networks has secured a $4 million contract from the US Department of Defense through its US subsidiary, DataPath. The order is for DKET 3421 terminals, which are portable satellite communication hubs designed for mission-critical communications. The terminals, weighing under 5000 lbs, support multi-carrier operations with up to 32 modems and can be deployed in less than three hours. Delivery is expected in the first half of 2025. The DKET 3421's compact design allows for easy forklift transportation while providing flexible satellite network capabilities.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) announced its attendance at the APEX/IFSA Global Expo in Long Beach, California, from October 28-30, 2024. The company will showcase its advanced in-flight connectivity (IFC) solutions, including:
- Innovative ESA (Electronically Steered Antenna) technology
- SSPA (Solid-State Power Amplifier)
- KPSU (Ka/KU Power Supply Unit)
- FCU (Frequency Converter Unit)
Gilat's ESA solutions are designed for commercial, business, and military aviation, offering robust and seamless satellite connectivity. The company's Wavestream subsidiary provides market-leading components to ensure optimal performance for high-speed internet services on both large commercial aircraft and private business jets. Gilat invites APEX/IFSA attendees to schedule meetings to discuss their IFC needs and explore how Gilat's technology can enhance their offerings.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT), a global leader in satellite networking technology, solutions, and services, has announced the release of its third quarter 2024 financial results on Wednesday, November 13th, 2024. Following the release, the company will host a conference call and webcast to discuss the results and business achievements.
The conference call details are as follows:
- Date: Wednesday, November 13, 2024
- Start Time: 09:30 AM EST / 16:30 IST
- Dial-in: US: 1-888-407-2553, International: +972-3-918-0609
Gilat Satellite Networks (NASDAQ, TASE: GILT), a global leader in satellite networking technology, solutions, and services, has announced its participation in the 17th annual LD Micro Invitational. The event will take place on Wednesday, October 30, at the Luxe Sunset Boulevard Hotel in Los Angeles.
Gil Benyamini, Gilat's Chief Financial Officer, will deliver the company's presentation at 8 am PT. Both Benyamini and Mayrav Sher, Head of Finance & IR, will be available for one-on-one meetings with investors throughout the conference.
Investors interested in scheduling meetings can contact an LD Micro representative or email the Gilat investor relations team at Mayravs@gilat.com. For those unable to attend in person, remote viewing of the presentation is available through registration.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) has secured approximately $15 million in orders from several major satellite operators for its advanced satellite communications solutions. These orders cover GEO, MEO, and LEO constellations, demonstrating the company's wide state-of-the-art ground segment portfolio.
The orders are expected to be delivered over the upcoming 18 months. This development reinforces Gilat's position as a trusted provider of cutting-edge satellite technology and underscores the strong partnerships it has developed with key industry players. Gilat's solutions are critical in enabling a broad range of connectivity and enterprise services globally.
Hagay Katz, Chief Product and Marketing Officer, noted the continuous demand for Gilat's innovative satellite communications solutions as operators expand their networks to meet increasing user needs worldwide.
Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) has secured a $4 million contract to provide rural connectivity in Latin America for a period of 3 years. The company will offer critical connectivity for banking transactions and support services in remote areas.
Gilat's satellite communications solutions will ensure connectivity and business continuity for distant bank branches, covering core banking, e-mail, security, ATMs, and Point of Sale operations. The company's robust satellite network, enhanced with the latest technological advancements, meets high-quality standards required for business continuity in remote areas and during potential disasters.
Ron Levin, Gilat's Chief Commercial Officer, expressed satisfaction in supporting essential banking services in rural Latin America.
Gilat Satellite Networks (NASDAQ, TASE: GILT) has secured a multimillion-dollar contract extension with a leading satellite operator in the Asia-Pacific (APAC) region. The 12-month extension involves Gilat continuing to manage and maintain the operator's satellite communications infrastructure, ensuring enhanced network performance and reliability for the operator's service coverage.
This agreement supports connectivity services to rural and underserved areas in the APAC region. Ron Levin, Gilat's CCO, expressed satisfaction with the continued collaboration, emphasizing the trust placed in Gilat's technology by their partners.
Gilat Satellite Networks (NASDAQ, TASE: GILT) has announced that its US subsidiary, DataPath Inc, has secured contracts worth over $5 million to support the US Department of Defense. The contracts involve:
1. Core terminal related services
2. Technology insertion
3. Upgrades to systems
DataPath will focus on sustaining and upgrading multiple Satellite Transportable Terminal (STT) units to enhance military operations. Additionally, they will upgrade existing satellite communications equipment to improve capabilities and efficiency. This reinforces Gilat's commitment to supporting the US armed forces and advancing national security.
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