Gilat Satellite Networks Ltd - GILT STOCK NEWS

Gilat Satellite Networks (NASDAQ, TASE: GILT) has secured contracts worth over $5 million through its US subsidiary, Gilat DataPath, from the US Department of Defense and other international Defense Forces. The contracts, to be delivered over the next 12 months, cover DKET terminals and Field Service Representative support worldwide.

The agreements include both contract extensions and new partnerships, demonstrating the trust in Gilat DataPath's ability to provide reliable connectivity solutions for military and defense end-users in challenging environments. The company's technical and field services are specifically designed to maintain mission-critical communications systems across diverse operational settings.

Gilat Satellite Networks (NASDAQ, TASE: GILT) and Hispasat provided emergency satellite communication support following Hurricane Helene, a Category 5 hurricane that severely impacted Southern Linc's Georgia service territory. The rapid response ensured continuity of critical communications for first responders, utilities, sheriff departments, Georgia Department of Public Safety, and Georgia Emergency Management and Homeland Security Agency.

Within hours of the hurricane's impact, Gilat and Hispasat mobilized to provide additional satellite network capacity, enabling uninterrupted communication for emergency services and utility workers during recovery operations. Southern Linc's Vice President of Engineering and Operations, Alan McIntyre, praised the swift response in maintaining essential wireless communication systems during this critical event.

Gilat Satellite Networks (Nasdaq: GILT) has secured orders exceeding $3 million for its Gateway Solid State Power Amplifiers (SSPAs) from leading service providers. The orders, aimed at supporting Low Earth Orbit (LEO) constellations, are scheduled for delivery within the next 12 months.

The company's high-performance SSPAs are essential components in their product portfolio, providing efficiency, reliability, and performance for LEO constellation requirements. These systems are important for delivering seamless connectivity in demanding environments, particularly where high-power, lightweight, and energy-efficient solutions are necessary.

Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT), a global leader in satellite networking technology, has announced its participation in the 27th Annual Needham Growth Conference on January 14, 2025. CEO Adi Sfadia and CFO Gil Benyamini will be available for one-on-one meetings with investors during the conference.

Management will conduct a fireside chat at 9:30 am Eastern Time on January 14, 2025. Investors can access the live webcast through www.gilat.com or via the direct webcast link at https://wsw.com/webcast/needham143/gilt/2252448. Interested parties can schedule meetings with management through a Needham representative or by contacting Gilat's investor relations team at GilatIR@allianceadvisors.com.

Gilat Satellite Networks (Nasdaq: GILT) has completed the acquisition of Stellar Blu Solutions, a US-based provider of next-generation SATCOM terminal solutions. The acquisition's initial consideration was $98 million in cash, with potential additional payments of up to $147 million based on achieving operational and strategic milestones.

The deal is expected to generate annual revenues between $120-150 million in 2025, with EBITDA margins projected to exceed 10% once Stellar Blu reaches target manufacturing capacity in H2 2025. The acquisition was funded through a combination of a $100 million secured credit line from HSBC Bank USA and Bank Hapoalim, and company resources.

This strategic move strengthens Gilat's position in the In-Flight Connectivity (IFC) market, with plans to ship hundreds of Stellar Blu's Sidewinder terminals in upcoming quarters. The acquisition aims to enhance Gilat's capability in providing multi-orbit LEO and GEO IFC solutions for commercial and business aviation.

Gilat Satellite Networks (NASDAQ, TASE: GILT) has secured $9 million in orders from major satellite operators for its SkyEdge IV and SkyEdge II-c platforms and services. The delivery is scheduled within the next 12 months.

The orders highlight Gilat's position in providing multi-orbit satellite communications solutions. The SkyEdge platforms are designed to deliver high-performance satellite communications across multiple applications, including maritime, cellular backhaul, and enterprise solutions. These platforms enable seamless multi-orbit integration and are utilized by leading satellite operators worldwide.

Gilat Satellite Networks (NASDAQ, TASE: GILT) has secured over $18 million in orders for In-Flight Connectivity (IFC) solutions. The orders primarily comprise Gilat SkyEdge platforms, related services, and SSPAs, with delivery scheduled within the next 12 months. The company's flexible architecture enables reliable satellite connectivity, supporting IFC network expansion. These orders demonstrate market confidence in Gilat's advanced technology and solutions for addressing unique challenges in IFC services.

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.