two Earnings Recaps
Q3 2026
Nov 12, 2026
Gilat’s shares fell 20.6% after earnings, with the key disappointment likely its lower revenue outlook as commercial customer orders and deployments shift into 2027 and beyond. Management reduced full-year revenue guidance to $455 million–$475 million, despite maintaining a narrower adjusted EBITDA outlook.
Key takeaways
- Q3 revenue was $116.2 million, down from $117.7 million a year earlier; adjusted EBITDA rose 13% to $17.6 million.
- Commercial revenue declined to $69.7 million from $73 million, reflecting lower amplifier deliveries to certain LEO customers and delays in customer programs.
- Management cited longer decision cycles and satellite launch constraints in traditional markets, delayed IFC orders and installations, and a Peru agreement signed later than expected; related revenue is now expected in 2027.
- Defense revenue grew 53% year over year and exceeded management’s expectations. The segment secured awards of more than $32 million for DKET systems and more than $8 million for field services and upgrades.
- Full-year adjusted EBITDA guidance was narrowed to $61 million–$63 million. The pending Comtech Satellite and Space acquisition is expected to add more than $180 million in revenue and more than $80 million in adjusted EBITDA, subject to approvals and closing conditions.
Q1 2026
May 15, 2026
Shares dropped 19.2% following earnings as investors reacted negatively to a cautious outlook and evident deceleration in commercial segment momentum, despite growth in defense orders and technology milestones.
Key takeaways
- Total Q1 revenue was $110.5 million, reflecting 20% year-over-year growth.
- Adjusted EBITDA nearly doubled year-over-year to $15.1 million, driven primarily by defense contract wins and operational leverage.
- Defense segment secured multiple orders: $16 million from a European Ministry of Defense, $9 million in Israel, $7 million for EnduroStream amplifiers supporting U.S. defense, and $6 million for U.S. Army field services.
- Commercial segment showed steady but less dynamic performance with approximately 750 Sidewinder ESA terminals delivered and initial certification for in-cabin Line-fit solutions expected in Q4 2026.
- Management emphasized technology investments and demonstrations, but gave a cautious tone on near-term commercial growth and competitive pressure, likely contributing to investor disappointment.
Q3 2025
Nov 12, 2025
Gilat Satellite Networks Ltd. posted robust Q3 2025 results with revenue soaring 58% year-over-year to $117.7 million and a significant adjusted EBITDA increase of 46%, underscoring strong market momentum and strategic initiatives.
Key takeaways
- Secured a $66 million private placement, enhancing financial strength for growth initiatives.
- Generated over $14 million in orders for DKAT terminals from the U.S. Army, solidifying defense sector presence.
- Received $42 million in new orders for the SkyEdge IV platform, expanding global deployment and positioning in multi-orbit connectivity.
- Continued momentum in in-flight connectivity (IFC) solutions with a $7 million order, indicating growing adoption among airlines.
- Established a strategic partnership in Asia Pacific, affirming trust in Gilat's technology for integrated connectivity solutions.