Gilat Satellite - GILT STOCK NEWS

Gilat Satellite Networks (NASDAQ: GILT) has announced the formation of its new Defense Division, appointing Gilad Landsberg as President. This strategic initiative aims to address growing demand for government and defense SATCOM solutions.

The division integrates technologies from Gilat, Gilat DataPath, Gilat Wavestream, and Gilat Stellar Blu to provide secure, rapid-deployment SATCOM solutions for military and HLS organizations, government agencies, and defense integrators. The primary focus is supporting the U.S. Department of Defense (DoD) and allied forces globally.

The division will showcase its solutions at Satellite 2025 in Washington, D.C., featuring new products including the GLT 1500 terminal, DataPath 2.6m antenna solution, and the FAR 889 and DFAR 5949 compliant Aquarius DS Family of products.

Gilat Satellite Networks reported strong Q4 and full year 2024 results with significant growth metrics. Q4 revenue reached $78.1 million (up 3% YoY) with GAAP operating income of $12.8 million and Adjusted EBITDA of $12.1 million (up 30% YoY).

Full year 2024 showed revenue of $305.4 million (up 15% YoY), GAAP operating income of $27.7 million, and a record Adjusted EBITDA of $42.2 million (up 16% YoY). The company provided optimistic 2025 guidance, projecting revenues between $415-455 million and Adjusted EBITDA of $47-53 million.

Starting January 2025, Gilat implemented a new organizational structure with three divisions: Gilat Defense, Gilat Commercial, and Gilat Peru. The Defense and In-Flight Connectivity businesses showed strong momentum with increased orders, particularly in serving US DoD needs.

Gilat Satellite Networks (NASDAQ, TASE: GILT) announced $4M in new contracts through its US subsidiary, Gilat DataPath, for portable satellite terminals from global Defense customers. The orders include CCT200, CCT120, and QCT90 models, with delivery scheduled over the next 12 months.

The C-Series and Q-Series Portable Satellite Antenna Terminals (PSATs) are designed to meet MIL-STD-810G standards, featuring robust performance in harsh environmental conditions including wind, rain, dust, and extreme temperatures. The terminals provide high-speed connectivity while maintaining a compact design.

According to Nicole Robinson, President of Gilat DataPath, these follow-on orders demonstrate continued trust from defense organizations worldwide, highlighting the terminals' exceptional durability, ease of transport, and operational simplicity in supporting diverse military operations.

Gilat Satellite Networks (Nasdaq: GILT, TASE: GILT) has announced it will release its fourth quarter and full year 2024 financial results on Wednesday, February 12, 2025. Following the release, CEO Adi Sfadia and CFO Gil Benyamini will host a conference call and webcast at 09:30 AM EST / 16:30 IST to discuss the company's results and business achievements. The conference call will include a Q&A session and will be accessible via US dial-in (1-888-407-2553) and International dial-in (+972-3-918-0609). A simultaneous webcast will be available on Gilat's website and will be archived for 30 days.

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.