PETAH TIKVA, Israel, April 04, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today the award of more than $3 million for a public WiFi solution in Latin America. This follow-on order significantly extends the number of sites in the program and highlights the importance of social inclusion projects aimed at bridging the digital divide. The public WiFi solution provided by Gilat is being ex ...

PETAH TIKVA, Israel, April 03, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that the US Department of Defense awarded over $5 million for baseband equipment to one of the company's US-based subsidiaries, DataPath. The baseband networking solution will be used with the company's DKET 3421 terminals, which are transportable satcom hubs that deliver the operational flexibility, capaci ...

PETAH TIKVA, Israel, April 02, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ:GILT, TASE: GILT))), a worldwide leader in satellite networking technology, solutions, and services, announced today that the United States Army awarded a $12 million contract to its subsidiary DataPath, Inc., for the continuation of a program to sustain anytime, anywhere satellite connectivity. The contract is for the supply of Wavestream's Solid State Amplifier (SSPA) products. Wavestream SSPAs are ruggedized to ...

[SEC Filing Details](index=1&type=section&id=SEC%20Filing%20Details) Gilat Satellite Networks Ltd. formally submitted its March 2024 Report on Foreign Issuer (Form 6-K) to the SEC, attaching a press release and consenting to incorporate GAAP financial information by reference into registration statements - The document is a **Report on Foreign Issuer (Form 6-K)** for March 2024, filed by Gilat Satellite Networks Ltd[2](index=2&type=chunk) - The filing attaches a press release dated **March 20, 2024**, announcing the filing of the company's **2023 Annual Report**[5](index=5&type=chunk) - Gilat consents to the incorporation by reference of **GAAP financial information** into several Registration Statements on Form S-8 and Form F-3[6](index=6&type=chunk) [Press Release: Announcement of 2023 Annual Report Filing](index=4&type=section&id=Press%20Release%3A%20Announcement%20of%202023%20Annual%20Report%20Filing) Gilat Satellite Networks announced the filing of its **2023 Annual Report on Form 20-F** with the SEC, containing audited financial statements, accessible on its website with hard copies available upon request - Gilat filed its **Annual Report on Form 20-F** with the U.S. Securities and Exchange Commission, containing audited financial statements for the year ended **December 31, 2023**[10](index=10&type=chunk) - The annual report is accessible on the **Gilat website**, and shareholders may request a hard copy free of charge[11](index=11&type=chunk) [Company Overview and Offerings](index=4&type=section&id=Company%20Overview%20and%20Offerings) Gilat is a global provider of satellite-based broadband communications with over **35 years of experience**, offering a diverse portfolio including cloud platforms, satellite terminals, and SOTM antennas for various markets - Gilat is a leading global provider of **satellite-based broadband communications**, with over **35 years of experience** in deep technology solutions[12](index=12&type=chunk) - The company's product portfolio includes a **cloud-based platform**, high-performance **satellite terminals**, **SOTM antennas**, and high-power **SSPAs and BUCs**[13](index=13&type=chunk) - Gilat's solutions cater to multiple key applications including **broadband access**, **mobility**, **cellular backhaul**, **enterprise**, **defense**, **aerospace**, and **government**[14](index=14&type=chunk) [Forward-Looking Statements and Risk Factors](index=5&type=section&id=Forward-Looking%20Statements%20and%20Risk%20Factors) This section warns that forward-looking statements involve risks and uncertainties, highlighting factors like economic conditions, market acceptance, competition, and specific operational risks related to the ongoing conflict in Israel - The press release contains **forward-looking statements** subject to known and unknown risks and uncertainties[15](index=15&type=chunk) - Key risks include changes in **economic conditions**, **market acceptance** of products, **competition**, and the ability to **manage growth and retain personnel**[15](index=15&type=chunk) - The company specifically notes risks associated with its location in **Israel**, including those related to **terrorist attacks by Hamas** and the **war and hostilities between Israel and Hamas, and Israel and Hezbollah**[15](index=15&type=chunk)

PETAH TIKVA, Israel, March 20, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ:GILT, TASE: GILT))), a worldwide leader in satellite networking technology, solutions, and services, announced that it has filed its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission containing audited consolidated financial statements for the year ended December 31, 2023. The annual report will be available on the Gilat website (www.gilat.com). Shareholders may receive a hard copy of the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Date of event requiring this shell company report ...

PETAH TIKVA, Israel, March 19, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ:GILT, TASE: GILT))), a worldwide leader in satellite networking technology, solutions, and services, announced today its Cloud and 5G NTN evolution strategy to support Satellite Operators and service providers. "The satellite communications industry is moving towards digital transformation with the impending shift to Cloud and 5G Non-Terrestrial Networks (NTN). This evolution promises standard ubiquitous connectivi ...

PETAH TIKVA, Israel, March 05, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ:GILT, TASE: GILT))), a worldwide leader in satellite networking technology, solutions, and services, announced today that it was selected by Safran Passenger Innovations for a strategic, multimillion-dollar in-flight connectivity (IFC) program. Gilat's Wavestream subsidiary will develop, qualify, and produce a new line of Ku band Power Supply Unit (KPSU) products to support Safran's Ku-band electronically steerable ...

Financial Data and Key Metrics Changes - Revenues for Q4 2023 were $75.6 million, a 4% increase from $72.6 million in Q4 2022 [3][21] - Full year revenues reached approximately $266.1 million, representing an 11% year-over-year growth [21][56] - Adjusted EBITDA for Q4 was about $9.4 million, with a full year adjusted EBITDA of $36.4 million, reflecting a 44% year-over-year growth [43][58] - Non-GAAP gross margin in Q4 '23 improved to 39.1% from 38.3% in the same quarter last year [36] - GAAP net income for Q4 was $3.4 million, compared to a net loss of $6 million in the same quarter last year [57] Business Line Data and Key Metrics Changes - Q4 revenues for the Satellite Network segment were $53.5 million, up from $36.4 million in the same quarter last year [56] - Q4 revenues for the Integrated Solutions segment were $9.5 million, down from $16.3 million in the same quarter last year, mainly due to a transition period between strategic projects [56] - Network Infrastructure & Services segment revenues were $12.6 million, compared to $19.9 million in the same quarter last year, attributed to delivery delays [35] Market Data and Key Metrics Changes - The acquisition of DataPath is expected to significantly enhance Gilat's presence in the defense communication market, with anticipated revenues from DataPath exceeding $45 million in 2024 [24][49] - The company is seeing growth in the in-flight connectivity (IFC) and defense verticals, with new awards from strategic customers [22][11] - The company remains a leading global provider of 4G cellular backhaul over satellite solutions, with ongoing contracts and new opportunities emerging [26][47] Company Strategy and Development Direction - The acquisition of DataPath is a strategic initiative to increase market share in the defense sector and enhance capabilities in satellite connectivity [24][11] - The company aims to expand its market share in the defense vertical and is focusing on next-generation military models and high-power SSPA products [29][49] - Gilat is positioning itself to leverage opportunities in the LEO vertical and is optimistic about the potential for significant orders in 2024 [32][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming macroeconomic challenges and expects continued financial performance improvement in 2024 [77] - The company anticipates revenue growth of 18% year-over-year in 2024, with guidance of $305 million to $325 million [45][80] - Management highlighted the importance of ongoing RFPs and the potential for significant revenue from new technology and existing partnerships [83] Other Important Information - Cash and cash equivalents as of December 31, 2023, were $95.3 million, down from $100.3 million at the end of Q3 2023, primarily due to the DataPath acquisition [37] - The company is progressing with the Amazonas network construction in Peru, expecting to deliver the network by Q2 2024 [30][85] Q&A Session Summary Question: Guidance for 2024 and DataPath expectations - Management expects around $50 million from DataPath and anticipates growth across all segments, both organic and inorganic [39][82] Question: Progress on Peru network infrastructure - The Amazonas network is in the final stages, with operational phase expected by the end of Q2 2024 [64][85] Question: Opportunities in the IFC market - Management is exploring additional systems integrators and existing players for growth in the IFC market [93] Question: Details on DataPath backlog and orders - Management indicated that DataPath brings a higher level of backlog and orders, with expectations for significant contributions in the future [73]

Q4 Revenue of $75.6 million, GAAP Operating Income of $2.9 million and Adjusted EBITDA of $9.4 million 2023 Revenue of $266.1 million, up 11% year over year, GAAP Operating Income of $28.1 million and Adjusted EBITDA of $36.4 million, up 44% YoY PETAH TIKVA, Israel, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ:GILT, TASE: GILT))), a worldwide leader in satellite networking technology, solutions and services, today reported its unaudited results for the fourth quarter and full year ...