The earnings call highlighted significant revenue growth driven by the acquisition of DataPath and success in defense and in-flight connectivity markets. However, challenges such as organic revenue decline, exit from Russia, and gross margin decrease were noted. The sentiment is balanced with positive developments in Peru and the anticipated completion of the Stellar Blu Solutions acquisition.

Company Guidance

During the third quarter of 2024 earnings call, Gilat Satellite Networks provided updated guidance for the fiscal year. The company narrowed its revenue guidance range to between $305 million and $315 million, reflecting a year-over-year growth of 17% at the midpoint, despite deciding to terminate activities in Russia. Adjusted EBITDA guidance was refined to a range of $41 million to $43 million, representing a 15% year-over-year growth at the midpoint. Gilat increased its GAAP operating income guidance to between $24 million and $26 million, driven partly by $11 million in proceeds from arbitration in Peru. The company's adjusted EBITDA for the third quarter grew by 13% year-over-year, reaching $10.7 million. These projections highlight Gilat's strategic focus on enhancing profitability and operational efficiency while navigating geopolitical challenges and leveraging growth in its defense and in-flight connectivity sectors.

Revenue Growth and Guidance

Gilat reported a 17% year-over-year growth in revenue for Q3 2024, primarily driven by the acquisition of DataPath. The company expects full-year revenue to range between $305 million and $315 million, representing a 17% growth at the midpoint.

Adjusted EBITDA Increase

The adjusted EBITDA increased by 13% year-over-year in Q3 2024, reaching $10.7 million. The full-year adjusted EBITDA guidance is between $41 million and $43 million, representing a 15% growth at the midpoint.

Defense and In-Flight Connectivity Success

Gilat signed several contracts with the U.S. Department of Defense, totaling over $14 million, and received an order for over $12 million for in-flight connectivity services.

Positive Developments in Peru

The company collected an additional $4 million from arbitration against Pronatel in Peru, with a total expectation of $11 million. The Amazonas region expansion project is progressing faster than planned.

Stellar Blu Solutions Acquisition

Gilat expects to close the acquisition of Stellar Blu Solutions by the end of the year, with anticipated revenues of $25-35 million in Q4 2024 and $120-150 million in 2025.

---

Gilat (GILT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

GILT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 18, 2025	2024 (Q4)	0.16 / -	0.11	―	―	―
Nov 13, 2024	2024 (Q3)	0.07 / 0.14	0.08	75.00% (+0.06)	―
Aug 07, 2024	2024 (Q2)	0.05 / 0.10	0.09	11.11% (+0.01)	―
May 08, 2024	2024 (Q1)	- / 0.11	0.07	57.14% (+0.04)
Feb 26, 2024	2023 (Q4)	0.06 / 0.11	0.14	-21.43% (-0.03)	―
Nov 07, 2023	2023 (Q3)	0.05 / 0.08	0.06	33.33% (+0.02)	―
Aug 08, 2023	2023 (Q2)	0.02 / 0.09	0.03	200.00% (+0.06)	―
May 09, 2023	2023 (Q1)	0.00 / 0.07	-0.03	333.33% (+0.10)	―
Feb 14, 2023	2022 (Q4)	0.06 / 0.14	0.1	40.00% (+0.04)	―
Nov 14, 2022	2022 (Q3)	0.03 / 0.06	0.01	500.00% (+0.05)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

---

GILT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 13, 2024	$5.65	$4.98	-11.86%
Aug 07, 2024	$4.16	$4.50	+8.17%
May 08, 2024	$5.59	$5.58	-0.18%
Feb 26, 2024	$6.33	$6.00	-5.21%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

---