Gilat Reports Third Quarter 2026 Results

Adi Sfadia, CEO of Gilat Satellite Networks

“We concluded the quarter with Adjusted EBITDA increasing 13% year over year to $17.6 million, with the Adjusted EBITDA margin expanding to approximately 15% while our Non-GAAP Net Income jumped over 21% to $14.3 million. This comes alongside revenues of $116.2 million, compared to $117.7 million in the same quarter last year. Due to cost and pricing discipline, these results were achieved despite weaker currency conditions and bad debt write-offs resulting from Hughes Network Systems' Chapter 11 filing.”

Adi Sfadia, CEO of Gilat Satellite Networks

“Our revised revenue outlook reflects several factors. In IFC, we rescheduled certain terminal deliveries while working through commercial terms that are important to program profitability. Continued delays in LEO and GEO satellite development and launches, partly due to launch options scarcity, have pushed out the expected timing of certain network equipment orders. In Peru, agreements reached later than anticipated shifted some expected revenue into 2027.”

Adi Sfadia, CEO of Gilat Satellite Networks

“Changing market dynamics are intensifying competitive pressure, as vertically integrated LEO providers gain market share from traditional GEO providers. These changes in market dynamics reinforce the strategic direction we have been pursuing for several years: building our Defense segment through acquisitions and investments. This quarter’s Defense results show that the strategy is working, as our Defense segment continued its strong momentum, with revenues growing 53% year over year. Our acquisition of Comtech is the next major step in this shift. The transaction is expected to close by year-end, subject to the satisfaction of applicable closing conditions. Once completed, it is expected to create a company with the scale to address accelerating demand for secure defense communications and a substantially larger U.S. presence, and to more than double defense revenues in 2027. In addition, we continue to pursue a growing number of opportunities in next-generation ground infrastructure, IFC, and particularly in new sovereign satellite constellations, which represent an increasingly growing market for Gilat.”