Core Insights - Gilat Satellite Networks Ltd. announced over $15 million in orders from leading global satellite operators, with deliveries scheduled throughout 2025 [1] - The orders indicate strong momentum for Gilat's equipment and services across various satellite constellations, particularly in In-Flight Connectivity (IFC) [2][3] - Gilat's comprehensive solutions are recognized for their flexibility and performance, meeting increasing connectivity demands across multiple verticals [3] Company Overview - Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications with over 35 years of experience [4] - The company offers integrated solutions supporting multi-orbit constellations and Very High Throughput Satellites (VHTS) through its Commercial and Defense Divisions [5] - Gilat's product portfolio includes cloud-based platforms, high-performance satellite terminals, and advanced antennas, catering to various applications including government, defense, and broadband access [6]

Industry Overview - The SATCOM market is experiencing growth driven by increased defense spending and rising demand for in-flight connectivity (IFC) [1] - This growth presents investment opportunities, particularly in small-cap companies operating within the SATCOM space [1] Company Focus - Gilat Satellite Networks is identified as a potential investment opportunity within the SATCOM market [1]

Core Viewpoint - Gilat Satellite Networks Ltd. (GILT) has secured multiple significant contracts in its defense division, indicating strong demand for its advanced satellite communication technologies and a robust growth trajectory in the defense SATCOM market. Group 1: Recent Contracts and Orders - Gilat Defense has received a multimillion-dollar order from a leading global defense organization for cutting-edge antenna technology, with deliveries expected to start in late 2025 [1] - The company has been awarded a contract valued at up to $23 million for sustainment and support services for Satellite Transportable Terminal (STT) units used by the U.S. Department of Defense, with options for extension up to five years [4] - A new $6 million contract for the SkyEdge II-c satellite communications platform was awarded by a military organization in the Asia-Pacific region, further solidifying Gilat's market position [6] Group 2: Market Position and Strategy - The global defense SATCOM market is anticipated to grow as military forces transition to next-generation satellite communication technologies, positioning Gilat to capitalize on these opportunities [5] - Gilat has formed a new Defense Division to meet the increasing demand for secure government and military SATCOM solutions, unifying expertise from various subsidiaries [7] - The company has restructured its organization to enhance focus on key markets, presenting financial results under three categories: Gilat Defense, Gilat Commercial, and Gilat Peru [9] Group 3: Financial Performance and Projections - In the last reported quarter, Gilat's net sales increased by 3% year over year, driven by growth in the defense and IFC sectors [8] - Management projects 2025 revenues to be between $415 million and $455 million, with adjusted EBITDA expected to range from $47 million to $53 million [8] - Shares of Gilat have increased by 23.7% over the past six months, outperforming the Zacks Satellite and Communication industry's decline of 6.6% [10]

Gilat Defense delivering advanced antenna technology to be integrated into defense communication systemsPETAH TIKVA, Israel, April 15, 2025 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today its Defense Division received a Multimillion order from a Global Defense Organization for the supply of advanced antenna technology to be integrated into the organization’s advanced defense communica ...

Gilat Defense secured contract for cutting edge DKET 3420 transportable hubs, enabling rapid SATCOM deploymentPETAH TIKVA, Israel, April 09, 2025 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today Gilat Defense was awarded a contract exceeding $11 million for DKET 3420 terminals. These portable satellite communication hubs are designed to deliver robust connectivity, scalability, and fle ...

Gilat Defense will ensure the operational readiness of critical SATCOM systems worldwidePETAH TIKVA, Israel, April 07, 2025 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announced today that Gilat Defense was awarded a contract to provide ongoing sustainment and support services for Satellite Transportable Terminal (STT) units deployed worldwide in support of U.S. Department of Defense (DoD) custom ...

FORM 6 – K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report on Foreign Issuer Pursuant to Rule 13a – 16 or 15d – 16 of the Securities Exchange Act of 1934 Form 20-F ☒ Form 40-F ☐ Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ☐ No ☒ For the Month of March, 2025 Gilat Satellite Networks Ltd. (Translation of R ...

Company Overview - Gilat Satellite Networks Ltd. is a leading global provider of satellite-based broadband communications with over 35 years of experience [3] - The company develops and delivers technology solutions for satellite, ground, and new space connectivity, focusing on critical connectivity across commercial and defense applications [3][4] Financial Reporting - Gilat 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, 2024 [1] - The annual report will be available on the Gilat website, and shareholders can request a hard copy free of charge [2] Product and Service Offerings - The company offers integrated, high-value solutions supporting multi-orbit constellations, Very High Throughput Satellites (VHTS), and Software-Defined Satellites (SDS) through its Commercial and Defense Divisions [4] - Gilat's product portfolio includes a cloud-based platform, high-performance satellite terminals, advanced antennas, Solid State Power Amplifiers (SSPA), Block Upconverters (BUC), integrated ground systems, field services, network management software, and cybersecurity services [4][5] Market Applications - Gilat's products and tailored solutions support various applications, including government and defense, in-flight connectivity (IFC), mobility, broadband access, cellular backhaul, enterprise, aerospace, broadcast, and critical infrastructure [5]

Acquisitions and Business Expansion - The company completed the acquisition of Stellar Blu Solutions LLC for an initial cash payment of $98 million, with potential additional payments of up to $147 million based on future performance milestones[16]. - The acquisition of DataPath in 2023 enhances the company’s capabilities in providing secure, rapid-deployment solutions for military organizations[25]. - The acquisition of DataPath, a U.S. based expert systems integrator, was completed in November 2023, which may subject its operations to Foreign Ownership, Control, or Influence (FOCI) mitigation measures[59]. - The acquisition of SBS was partly funded by $50 million from available cash and $60 million from a new secured credit line, which may restrict the usage of available cash due to financial covenants[43]. - The acquisition of Stellar Blu Solutions LLC was finalized on January 6, 2025, with an initial cash payment of $98 million, potentially increasing by up to an additional $147 million based on future performance milestones[144]. - Sidewinder, acquired in January 2025, is a full ESA terminal solution optimized for multi-orbit services, already selected by major airlines[205]. Market Segments and Operations - The company operates in three segments: Gilat Defense Division, Gilat Commercial Division, and Gilat Peru Division, focusing on defense, broadband satellite communication networks, and large-scale network projects respectively[25]. - The company aims to increase its focus on the defense market and In-Flight Connectivity (IFC) sector as primary growth engines starting January 1, 2025[20]. - The company provides connectivity services, internet access, and telephony to enterprise, government, and residential customers, with significant operations in the U.S., Peru, and Israel, contributing 48%, 17%, and 5% of revenues respectively[150]. - The company has a global presence with products sold in over 100 countries and maintains a two-tier customer support program through 16 sales and service offices worldwide[176]. - The company operates three network operations centers and R&D centers in Israel, the U.S., and Europe, supporting its global service delivery[141]. Financial Performance and Revenue - The company’s financial statements are prepared in accordance with U.S. GAAP, with all references to dollars being in U.S. dollars[23]. - In 2024, a significant portion of the company's revenue was derived from major customers, with sales to PRONATEL accounting for approximately 15%, a major European satellite telecommunications customer for 12%, and a major U.S. customer for 11%[35]. - The PRONATEL Regional Projects have a total contractual value of $549 million, with expected revenue generation over a period of 14-16 years[36]. - The company's cash balance as of December 31, 2024, was $120.2 million, an increase from $104.8 million in 2023, with positive cash flow from operating activities of approximately $31.7 million in 2024[42]. - In the year ended December 31, 2024, approximately 63% of the company's revenues were derived from product sales and 37% from services[150]. - The company has diversified revenue streams, with significant contributions from both product sales and service offerings across various global markets[150]. Competition and Market Challenges - Starlink had over 4.6 million active customers by the end of 2024, posing a competitive threat to traditional internet service providers[46]. - Amazon's Project Kuiper plans to launch its global commercial service in 2027, deploying over 3,000 satellites, which could further intensify competition in the satellite communications market[47]. - The company faces intense competition in the network communications industry, with principal competitors including Hughes Network Systems, ViaSat, and Comtech, which may affect market share and pricing strategies[67]. - The lengthy sales cycles may negatively impact operating results if forecasted sales are delayed or do not occur, complicating revenue forecasting[71]. - The company faces risks related to the political and economic climate in Latin America, particularly concerning contracts with governmental agencies, which could lead to significant adverse impacts on operations[51]. Risks and Compliance - Non-compliance with the General Data Protection Regulation (GDPR) could result in monetary penalties of up to 4% of worldwide revenue, significantly impacting the company's financial condition[58]. - The company is subject to ongoing tax examinations and audits, which may result in additional tax liabilities and affect cash flows[64]. - The company does not have sufficient insurance coverage for all business risks, which could lead to significant costs from liabilities not covered by insurance[65]. - The company faces risks related to international operations, including changes in foreign regulations, political instability, and inflation, which could adversely affect operations and profitability[92]. - The company has been awarded large-scale projects that require significant upfront investments, and losing a small number of bids could adversely affect operating results[50]. Innovation and Technology - The company has R&D centers in Israel, the U.S., and Europe, supporting the development of advanced satellite communication technologies[17]. - The company holds a portfolio of 68 issued patents related to its VSAT and other systems, indicating a strong focus on innovation and technology leadership[142]. - The SkyEdge IV system, launched in early 2022, is designed for Very High Throughput Satellites (VHTS) and Non-Geostationary Satellite Orbit (NGSO) constellations, providing high performance and space segment efficiency[175]. - The company aims to expand its presence in the In-Flight Connectivity (IFC) market, focusing on developing advanced airborne BUCs and transceivers following the acquisition of SBS[186]. - The demand for lightweight, low-profile antenna systems is anticipated to increase, particularly for applications in commercial and government/defense segments[164]. Shareholder and Market Dynamics - The company's share price has experienced significant volatility, trading between $4.07 and $7.78 from January 2, 2024, to March 19, 2025[115]. - Operating results may vary significantly from quarter to quarter, contributing to share price volatility and investor uncertainty[116]. - The largest shareholder, Phoenix Holdings Ltd., owns approximately 18.56% of the company's outstanding ordinary shares, which may impact merger opportunities and share price volatility[123]. - The company may be classified as a passive foreign investment company (PFIC) in the future, which could adversely affect U.S. investors' after-tax returns and share value[118]. - The company filed a shelf registration statement in July 2022 for the issuance and sale of up to $150 million of ordinary shares and other securities, which may lead to market price dilution[121].

Group 1 - The Zacks Rank system focuses on earnings estimates and revisions to identify winning stocks, with value investing being a popular method for finding great stocks in any market environment [1] - The Style Scores system helps investors find stocks with specific traits, particularly in the "Value" category, where stocks with high Zacks Ranks and "A" grades for Value are considered high-quality [2] - Gilat Satellite Networks (GILT) currently has a Zacks Rank of 2 (Buy) and an A grade for Value, making it a notable pick for value investors [2] Group 2 - The P/S ratio, which is calculated by dividing a stock's price by its revenue, is frequently used by value investors as sales are harder to manipulate, providing a more accurate performance indicator [3] - GILT has a P/S ratio of 1.23, which is lower than the industry's average P/S of 1.5, indicating potential undervaluation [3] - GILT's P/CF ratio is 9.95, significantly lower than the industry's average P/CF of 29.05, suggesting it may be undervalued based on its cash flow outlook [4] Group 3 - The metrics indicate that Gilat Satellite Networks is likely undervalued, and considering its strong earnings outlook, it is viewed as a great value stock at the moment [5]