First Quarter 2025 Financial Highlights Revenues of $92million, up 21% compared with $76.1million in Q12024;GAAP operating loss of $2.7 million,compared with GAAP operating income of $5.4 million in Q1 2024 mainly due to a loss of about $3.6 million from Gilat Stellar Blu’s ramp up process, amortization of purchased intangibles derived from the Stellar Blu acquisition, and other operating expenses, related to earnout liabilities and one-time acquisition-related costs;Non-GAAP operating income of $5.2million, compared with $6.6million in Q1 2024;GAAP net loss of $6.0 million, or $0.11 per share, compared with GAAP net income of $5.0 million, or $0.09 per diluted share, in Q1 2024;Non-GAAP net income of $1.8 million, or $0.03 per diluted share, compared with $6.0 million, or $0.11 per diluted share, in Q1 2024;Adjusted EBITDA of $7.6 million, compared with $9.3 million in Q1 2024, which includes a loss of about $3.6 million from Gilat Stellar Blu’s ramp up process.
Sfadia concluded, "Based on our strong beginning to 2025 and as Stellar Blu’s ramp up finalizes, we are on track to deliver a record year in both revenues and non-GAAP profitability as we capture the expanding opportunities in mission-critical communications and next-generation satellite solutions.” Key Recent Announcements Gilat Receives Over $15 Million in Orders from Leading Satellite OperatorsGilat Receives a Multimillion Order from a Global Defense OrganizationGilat Receives over $11 Million Defense Contract from a Leading UAV CompanyGilat Awarded Up to $23 Million Multi-Year Contract to Service Satellite Transportable Terminal Units for US DoD CustomersGilat Receives $6 Million Defense Contract to Provide Military Communications solutions in Asia-PacificGilat Receives $4 Million in Orders for Advanced Portable Satellite Terminals from Global Defense CustomersGilat Awarded Over $5 Million to Support Critical Connectivity for Defense Forces Conference Call Details Gilat’s management will discuss its first quarter 2025 results and business achievements and participate in a question-and-answer session: Date:Monday, May 19, 2025Start:09:00 AM EST / 16:00 ISTDial-in:US: 1-888-407-2553 International: +972-3-918-0609 A simultaneous webcast of the conference call will be available on the Gilat website at and through this link: The webcast will also be archived for a period of 30 days on the Company’s website and through the link above.
Contact: Gilat Satellite NetworksHagay Katz, Chief Products and Marketing Officerhagayk@gilat.com Alliance Advisors GilatIR@allianceadvisors.com Phone: +1 212 838 3777 GILAT SATELLITE NETWORKS LTD. CONSOLIDATED STATEMENTS OF INCOME (LOSS) U.S.dollars in thousands (except share and per share data) Three months ended March 31, 2025 2024 Unaudited Revenues$92,037 $76,078 Cost of revenues 63,639 48,024 Gross profit 28,398 28,054 Research and development expenses, net 11,621 9,319 Selling and marketing expenses 8,202 7,077 General and administrative expenses 6,784 8,077 Other operating expenses (income), net 4,538 (1,810) Total operating expenses 31,145 22,663 Operating income (loss) (2,747) 5,391 Financial income (expenses), net (936) 513 Income (loss) before taxes on income (3,683) 5,904 Taxes on income (2,313) (940) Net income (loss)$ (5,996) $ 4,964 Earnings (losses) per share (basic and diluted)$ (0.11) $ 0.09 Weighted average number of shares used in computing earnings (losses) per share (Basic and Diluted) 57,037,671 57,016,585 GILAT SATELLITE NETWORKS LTD.
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