Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT today reported its results for the third quarter, ended September 30, 2025.
Third Quarter 2025 Financial Highlights
- Revenues of $117.7 million, compared with $74.6 million in Q3 2024;
- GAAP operating income of $7.5 million, compared with GAAP operating income of $6.7 million in Q3 2024;
- Non-GAAP operating income of $12.8 million, compared with $8.3 million in Q3 2024;
- GAAP net income of $8.1 million, or $0.14 per diluted share, compared with GAAP net income of $6.8 million, or $0.12 per diluted share, in Q3 2024;
- Non-GAAP net income of $11.8 million, or $0.19 per diluted share, compared with $8.1 million, or $0.14 per diluted share, in Q3 2024;
- Adjusted EBITDA of $15.6 million, compared with $10.7 million in Q3 2024.
Forward-Looking Expectations
With results continuing to trend toward the high end of expectations and improved visibility into the remainder of the year, the Company is raising the midpoint of its full-year 2025 financial outlook and narrowing the guidance to revenues between $445 million and $455 million for FY 2025, representing a higher revenue growth rate of approximately 47% at the midpoint. Previously, management had expected revenue for 2025 between $435 million and $455 million.
Adjusted EBITDA for 2025 is now expected to be between $51 million and $53 million for a higher growth rate of approximately 23% at the midpoint, compared to the previous guidance for Adjusted EBITDA to be between $50 million and $53 million.
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. The $66 million private placement we completed this quarter reflects investor confidence in our strategy and combined with our strong cash generation from operations, provides additional resources to support our next phase of growth.”
Mr. Sfadia added, “Gilat Defense achieved new milestones with multi-million dollar orders from the U.S. Department of Defense and the Israeli Ministry of Defense, while our Commercial division recorded major wins for the SkyEdge IV platform and Gilat Stellar Blu’s Sidewinder ESA terminals. Gilat Peru also secured an order for $25 million from Pronatel, which is in addition to the $60 million that was reported in the beginning of Q3, for a total of $85 million. These awards reinforce Gilat Peru’s role in Peru’s digital inclusion programs. We continued to strengthen our technology leadership with the industry’s first-to-market integration of AI into our Network Management System, bringing automation and intelligence to satellite network operations.”
Mr. Sfadia concluded, “These achievements underscore the strength of our diversified solution portfolio, our commitment to innovation and our ability to integrate new products and acquired businesses. With a strong balance sheet, robust backlog, and accelerating demand for multi-orbit solutions, we are excited about our potential growth opportunities, both organically and through acquistions.”
