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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 has signed a definitive agreement to acquire Stellar Blu Solutions, a leading US-based avionics solution provider specializing in next-gen SATCOM terminal solutions. This acquisition aims to bolster Gilat's presence in the In-Flight Connectivity (IFC) market.
Gilat will pay $98 million initially, with up to an additional $147 million based on post-closing business achievements. Stellar Blu's annual revenues are expected to contribute between $100 million to $150 million starting in 2025, and the acquisition will be accretive on a non-GAAP basis from the second half of 2025. The deal is anticipated to close in the latter half of 2024, subject to regulatory approvals.
Stellar Blu's ESA terminal supports LEO and GEO multi-orbit strategies and has been adopted by major airlines. The acquisition aligns with Gilat’s strategy to extend its market reach and enhance its product offerings.
Gilat Satellite Networks (Nasdaq: GILT) announced the appointment of Nicole Robinson as President of its subsidiary, DataPath. Robinson, an experienced satellite industry executive, has held leadership roles at Comtech Telecommunications, Ursa Space Systems, SES, and General Dynamics. She holds an MBA from Liberty University and has completed the Senior Executives in National and International Security program at Harvard University. Robinson's appointment aims to enhance DataPath's offerings in the evolving satellite communication market, particularly in the global defense sector. David McDonald, the outgoing President, will transition to Vice Chairman of DataPath's Board of Directors. Gilat acquired DataPath in November 2023 to strengthen its presence in the defense market.
Gilat Satellite Networks reported strong revenue growth of 29% year-over-year in the first quarter of 2024, with GAAP operating income of $5.4 million and adjusted EBITDA of $9.3 million. The company's revenue reached $76.1 million, a significant increase compared to the previous year. Despite a decrease in GAAP operating income due to factors like lower other income and higher stock-based compensation, the non-GAAP operating income showed a positive trend. Gilat also saw improvements in net income and adjusted EBITDA compared to Q1 2023.
Gilat Satellite Networks announced the launch of its SkyEdge IV platform, enabling SES's O3b mPOWER System to provide high-performance connectivity services. SkyEdge IV is the industry's first MEO-GEO system, facilitating the deployment of Very High Throughput Satellites (VHTS) and Software Defined Satellites (SDS) for critical communications.
Gilat Satellite Networks will participate in the 19th Annual Needham Technology, Media & Consumer Conference on May 15, 2024. The CEO and CFO will be available for one-on-one meetings with investors and will give a presentation at the conference. To schedule a meeting, contact the Gilat investor relations team.
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