Gilat Satellite Networks, a specialist in satellite networking technology, solutions and services, has reported its unaudited results for the fourth quarter and full year ended December 31, 2024.

Q4 revenue stood at $78.1 million, up 3 per cent compared with $75.6 million in Q4 2023. Adjusted EBITDA was at $12.1 million, up 30 per cent compared with $9.4 million in Q4 2023.

Full year revenue stood at $305.4 million, up 15 per cent compared with $266.1 million in 2023. Adjusted EBITDA was $42.2 million, up 16 per cent compared with adjusted EBITDA of $36.4 million in 2023.

Management’s financial guidance for 2025 is for revenues of between $415 to $455 million, and Adjusted EBITDA is expected to be between $47 to $53 million.

Adi Sfadia, Gilat’s CEO, commented: “Gilat delivered strong results with profitability of Adjusted EBITDA of $12.1 million for the fourth quarter and $42.2 million for the entire year. These results alongside our strong generation of cash flow underscore the strength and resilience of our core business model, demonstrating both operating leverage and the positive impact of our current product revenue mix. During the fourth quarter our Defence and In-Flight Connectivity business continued to experience strong momentum with increased orders and awards. The Defence segment, with a focus on the US DoD, represents a significant growth opportunity for Gilat. We are pleased with our progress in expanding opportunities to serve the specialised needs of government and military customers with our innovative satellite solutions. With the closing of the Stellar Blu acquisition, our Commercial business is poised for significant growth as we establish our leadership in the expanding Electronically Steerable Antenna (ESA) market. Our portfolio of IFC GEO, LEO and multi-orbit solutions will be instrumental in capitalising on increasing demand for inflight connectivity by airlines and passengers.”

“Looking ahead into 2025, given the significant potential we see in the defense market and our view of this as a strategic growth engine, we plan to increase our investment in R&D, Sales and Marketing of the Defence Segment. We believe that this targeted increase will allow us to take advantage of the opportunities we see quicker and more decisively to ensure a long term growth in this market. Coupled with our recent acquisitions and positioning in the Satcom market, Gilat has the resource base to scale the IFC and Defence businesses and our track record of profitable, cash generating growth, provides a strong foundation for Gilat’s continued success,” Sfadia concluded.

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Categories: Articles, Business, Results

Tags: Gilat, satellite