Core Insights - Gilat Satellite Networks Ltd. reported third-quarter 2025 adjusted earnings per share (EPS) of 19 cents, an increase from 14 cents a year ago, surpassing the Zacks Consensus Estimate by 46.15% [1][10] - The company posted revenues of $117.7 million for the third quarter, reflecting a robust 58% increase compared to the previous year, exceeding the Zacks Consensus Estimate of $112 million [2][10] Revenue Breakdown - Commercial revenues, which accounted for 62% of third-quarter net sales, rose 116% year over year to $73 million, driven by the in-flight connectivity (IFC) segment [6] - Defense revenues, making up 20.5% of total revenues, declined 22.3% year over year to $24.1 million due to a transition from mature programs to new ones [7] - Revenues from Peru increased to $20.6 million from $9.8 million a year ago, attributed to new upgrade projects and higher equipment deliveries [7] Operational Highlights - Gilat secured multi-million dollar orders from the U.S. Department of Defense and the Israeli Ministry of Defense for advanced SATCOM systems [3] - The company achieved significant commercial wins for its SkyEdge IV platform and Gilat Stellar Blu's Sidewinder ESA terminals, which are gaining traction among satellite operators and airlines [4] - Gilat Peru secured an additional $25 million order from Pronatel, bringing total orders from Pronatel to $85 million, contributing to digital inclusion efforts in remote areas [4] Financial Performance - Non-GAAP gross margin decreased to 32% from 38% [8] - Non-GAAP operating income for the quarter was $12.8 million, up from $8.3 million in the previous year [8] - Adjusted EBITDA soared 45.8% year over year to $15.6 million [8] Cash Flow and Liquidity - The company generated $28.4 million of net cash from operating activities in the quarter, compared to $14.7 million in the prior-year quarter [9] - As of September 30, 2025, Gilat had $155 million in cash and cash equivalents, a significant increase from $5.5 million as of June 30, 2025 [11] 2025 Outlook - Gilat raised its full-year 2025 revenue guidance to between $445 million and $455 million, indicating a 47% year-over-year growth rate at the midpoint [12] - Adjusted EBITDA guidance was also raised to a range of $51 million to $53 million, reflecting management's confidence in sustained operational strength [13]

Core Insights - Gilat Satellite Networks Ltd. reported a significant revenue increase of 58% year-over-year, reaching $117.7 million in Q3 2025, compared to $74.6 million in Q3 2024 [8] - The company achieved a GAAP operating income of $7.5 million, up from $6.7 million in the same quarter last year, and a non-GAAP operating income of $12.8 million, compared to $8.3 million in Q3 2024 [8] - Adjusted EBITDA for the quarter was $15.6 million, an increase from $10.7 million in Q3 2024 [8] Financial Performance - Revenues for the first nine months of 2025 totaled $314.7 million, compared to $227.3 million for the same period in 2024, indicating a strong growth trajectory [18] - The company is raising its full-year 2025 revenue guidance to a range of $445 million to $455 million, reflecting a growth rate of approximately 47% at the midpoint [4] - Adjusted EBITDA for 2025 is now expected to be between $51 million and $53 million, representing a growth rate of approximately 23% at the midpoint [5] Management Commentary - CEO Adi Sfadia highlighted the company's strong quarter, emphasizing robust cash generation and successful execution in satellite communications [6] - The company secured significant contracts, including multi-million dollar orders from the U.S. Department of Defense and the Israeli Ministry of Defense, as well as a $25 million order from Pronatel in Peru [6] - The recent $66 million private placement reflects investor confidence in the company's strategy and provides additional resources for growth [6] Recent Developments - Gilat's Defense division achieved new milestones with substantial orders, while the Commercial division recorded major wins for its SkyEdge IV platform [6] - The company has integrated AI into its Network Management System, enhancing automation and intelligence in satellite network operations [6] - Gilat's diversified solution portfolio and commitment to innovation position it well for future growth opportunities, both organically and through acquisitions [6]