Gilat Satellite Networks Ltd. (NASDAQ:GILT) on Wednesday reported its strong third-quarter results, beating Wall Street estimates.
The company reported adjusted earnings of 19 cents per share, beating the 10-cent estimate and up from 14 cents a year earlier.
Revenue rose to $117.69 million from $74.61 million in the same quarter last year, exceeding the $113.2 million forecast.
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Adjusted gross profit increased to $37.50 million from $28.44 million, while adjusted operating income climbed to $12.85 million from $8.27 million. Adjusted EBITDA rose to $15.58 million from $10.69 million a year earlier.
Segment Performance
In the third quarter of 2025, Gilat’s Commercial segment generated $72.95 million in revenue, up sharply from $33.78 million a year earlier.
The Defense segment reported $24.09 million, compared with $30.99 million in the same quarter last year, while the Peru segment contributed $20.64 million, rising from $9.83 million a year ago.
Cash, cash equivalents, and restricted cash stood at $154.89 million at the end of the period.
Key Contract Wins and Strategic Developments
Gilat announced a series of recent contract wins, securing $42 million in orders from a leading satellite operator for its SkyEdge IV platform, multiple U.S. defense contracts worth more than $14 million for transportable SATCOM terminals, and a $7 million deal for in-flight connectivity solutions.
It also announced a $66 million private placement to institutional and accredited investors, a $25 million agreement to advance digital inclusion in Peru, and an award exceeding $60 million for the Stellar Blu ESA Sidewinder terminal.
Outlook
The company raised the midpoint of its full-year 2025 outlook and narrowed its guidance, now expecting revenue between $445 million and $455 million, representing about 47% growth at the midpoint. Previously, it had projected revenue of $435 million to $455 million.
Adjusted EBITDA for 2025 is now forecast between $51 million and $53 million, implying roughly 23% growth at the midpoint, compared with the prior range of $50 million to $53 million.
CEO Commentary
Adi Sfadia, Gilat’s CEO, commented, “Gilat delivered another strong quarter with significant growth and continued successful execution whilst generating robust cash from operations. Our competitive edge in satellite communications and success in next-generation programs, from VHTS to NGSO constellations and ESA solutions for IFC and Defense programs, are clearly translating into strong bookings of orders and growing demand.”
Price Action: GILT shares were trading higher by 3.61% to $12.93 premarket at last check Wednesday.
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