Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), today reported its results for the fourth quarter and full year ended December 31, 2025. The company reported 2025 Revenue of US$ 451.7 million, GAAP Operating Income of US$ 23.4 million and a Adjusted EBITDA of US$ 53.2 million.
Q4 Revenue of $137.0 million, GAAP Operating Income of $13.0 million and Adjusted EBITDA of $18.2 million
2025 Revenue of $451.7 million, GAAP Operating Income of $23.4 million and a Record Adjusted EBITDA of $53.2 million
Fourth Quarter 2025 Financial Highlights (all amounts in US$)
- Revenue of $137.0 million, up 75% compared with $78.1 million in Q4 2024;
- GAAP operating income of $13.0 million, compared with GAAP operating income of $12.8 million in Q4 2024;
- Non-GAAP operating income of $15.2 million, compared with $9.7 million in Q4 2024;
- GAAP net income of $8.8 million, or $0.13 per diluted share, compared with GAAP net income of $11.8 million, or $0.21 per diluted share, in Q4 2024;
- Non-GAAP net income of $13.4 million, or $0.20 per diluted share, compared with $8.5 million, or $0.15 per diluted share, in Q4 2024;
- Adjusted EBITDA of $18.2 million, up 50% compared with $12.1 million in Q4 2024.
Full Year 2025 Financial Highlights
- Revenue of $451.7 million, up 48%, compared with $305.4 million in 2024;
- GAAP operating income of $23.4 million, compared with $27.7 million in 2024;
- Non-GAAP operating income of $42.5 million, up 33% compared with $31.9 million in 2024;
- GAAP net income of $20.7 million, or $0.34 per diluted share, compared with $24.8 million, or $0.44 per diluted share in 2024;
- Non-GAAP net income of $39.0 million, or $0.64 per diluted share, compared with $28.2 million, or $0.49 per diluted share in 2024;
- Adjusted EBITDA of $53.2 million, up 26% compared with $42.2 million in 2024.
Forward-Looking Expectations
Management’s financial guidance for 2026 is for revenue of between $500 to $520 million, representing a revenue growth rate of approximately 13% at the midpoint. Adjusted EBITDA for 2026 is expected to be between $61 to $66 million, representing a growth rate of approximately 19% at the midpoint.
Adi Sfadia, Gilat’s CEO, commented: “We ended 2025 with a very strong fourth quarter and a solid year, reflecting steady execution across the company, driven primarily by our key growth engines of Defense, IFC and advanced multi‑orbit solutions. Revenue increased both in the fourth quarter and for the full year, through organic growth and through acquistions. Adjusted EBITDA also improved, underscoring our operational strength and sustained demand for Gilat’s technology. Altogether, the results point to durable momentum as our solutions become more integral to global connectivity.”
Sfadia added, “In the fourth quarter, we recorded several notable achievements. In the Defense Division, we continued to expand our customer base and opened a new segment with an Earth Observation (EO) solution to serve the unique needs of defense customers around the world. Our Commercial Division further secured its leadership position in both IFC and next-generation satellite ground platforms with large awards from new and existing customers. These outcomes highlight the breadth of our portfolio, the pace of innovation and our ability to integrate new products and acquired technologies.”
Sfadia concluded, “For 2026, we expect continued double digit growth supported by a strong backlog and healthy pipelines. Moreover, with a solid balance sheet and over $183 million in net cash, we are continually exploring additional growth opportunities and potential targets.”