Gilat Satellite Networks Ltd (STU:GSA)

Q3 2024 Gilat Satellite Networks Ltd Earnings Call Transcript

Nov 13, 2024 / 02:30 PM GMT

Release Date Price: €4.6 (-11.54%)

Transcript

Key Points

Positve

Gilat Satellite Networks Ltd (GILT) reported a 17% year-over-year growth in revenue for Q3 2024, driven by the acquisition of DataPath and momentum in defense and inflight connectivity businesses.
The company increased its adjusted EBITDA by 13% year-over-year, reaching $10.7 million.
Gilat secured several contracts with the U.S. Department of Defense, totaling over $14 million, showcasing strong performance in the defense sector.
The company has a strong pipeline in Peru, with recurring revenues from managed services and successful arbitration collections.
Gilat is making progress in the NGSO and LEO constellation markets, securing approximately $15 million in orders from major satellite operators.

Negative

Gilat's organic revenue decreased by 10% year-over-year, excluding the impact of the DataPath acquisition.
The company decided to terminate its activities in Russia, impacting revenue guidance due to imposed limitations and constraints.
The acquisition of Stellar Blue Solutions is taking longer than anticipated, pending regulatory approvals and other closing conditions.
Gilat's GAAP gross margin decreased to 37.1% from 40.4% in the same quarter last year, partly due to lower margins from DataPath.
The cellular backhaul market is experiencing project delays with no new significant initiatives, impacting growth in this segment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

GILT.OQ - Gilat Satellite Networks Ltd
Q3 2024 Gilat Satellite Networks Ltd Earnings Call
Nov 13, 2024 / 02:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. Welcome to Gilat's third quarter, 2024 results conference call. All participants are present in listen-only mode. Following management's formal presentation instructions will be given for the question and answer session for operator assistance during the conference. Please press star zero as a reminder, this conference is being recorded, November 13th 2024.

By now, you should have all received the company's press release. If you have not received it, please contact eots investor relations team or view it in the news section of the company's website www dot glo dotcom. I would now like to hand over the call to MS meav share, head of finance and Ir MS share. Would

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