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Mar 31, 2025
Gilat Q1 2025 Earnings Report
Gilat reported a revenue increase but posted a net loss due to operational and acquisition-related costs.
Key Takeaways
Gilat Satellite Networks saw a 21% year-over-year revenue increase in Q1 2025 but recorded a net loss of $6 million. The defense segment performed strongly, while continued investment in the Stellar Blu unit impacted profitability.
Revenue grew 21% year-over-year to $92 million.
GAAP net loss was $6 million, primarily due to costs related to Stellar Blu ramp-up.
Adjusted EBITDA was $7.6 million; excluding Stellar Blu impact, it was $11.2 million.
Sidewinder ESA is now flying on over 150 aircraft, with strong feedback and additional orders expected.
Forward Guidance
Gilat reaffirmed its 2025 guidance, expecting significant revenue and adjusted EBITDA growth driven by strong defense momentum and expanding IFC deployments.
Positive Outlook
- Revenue guidance range set at $415–$455 million, up 42% at midpoint.
- Adjusted EBITDA guidance range is $47–$53 million, up 18% at midpoint.
- Strong momentum in Gilat Defense segment.
- Growing demand and adoption for Sidewinder ESA in IFC market.
- Expansion into ISR and VVIP aviation markets underway.
Challenges Ahead
- Operational loss due to Stellar Blu ramp-up impact.
- GAAP net income turned negative compared to Q1 2024.
- Amortization and one-time acquisition-related costs affected profitability.
- Lower non-GAAP operating income and adjusted EBITDA year-over-year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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