Q4 2025 Gilat Satellite Networks Ltd Earnings Call Transcript
Key Points
- Gilat Satellite Networks Ltd (GILT) reported a strong fourth quarter with revenue reaching $137 million, a 75% increase year-over-year.
- The full year 2025 revenue rose to $451.7 million, marking a 48% increase with 6% organic growth.
- Adjusted EBITDA for the fourth quarter was $18.2 million, a 50% increase compared to the same quarter last year.
- The Defense segment saw strong year-over-year growth in new order bookings and expanded customer engagement.
- The Commercial segment experienced a 103% growth in Q4 2025, driven by the in-flight connectivity vertical and the contribution from Stellar Blu.
- GAAP gross margin in Q4 2025 decreased to 28% from 40% in Q4 2024, primarily due to lower margins at Stellar Blu.
- GAAP net income in Q4 2025 was $8.8 million, down from $11.8 million in Q4 2024, reflecting higher financing costs and tax expenses.
- The Peru segment is expected to see an 11% decrease in revenue in 2026 due to lower construction revenue and a shift to the operation phase.
- Stellar Blu did not achieve its earnout milestone, reaching slightly above half of the $120 million target in new backlog.
- The Defense segment's revenue growth was relatively small year-over-year due to previous delays in US administration orders.
Ladies and gentlemen, thank you for standing by. Welcome to Gilat's fourth quarter 2025 results conference call. (Operator Instructions) As a reminder, this conference is being recorded February 10, 2026. By now, you should have all received the company's press release. If you've not received it, please view it in the News section of the company's website, www.gilat.com.
I would now like to hand over the call to Mr. Sanjay Hurry of Alliance Advisors IR. Mr. Hurry, would you like to begin, please?
Thank you, Hila, and good morning, everyone. Thank you for joining us for Gilat Satellite Networks Earnings Conference Call for the fourth quarter and full year 2025. With us on today's call are Mr. Adi Sfadia, Gilat's CEO; and Mr. Gil Benyamini, Gilat's Chief Financial Officer.
The earnings press release was issued earlier today, and if anyone has not yet received a copy, I invite you to visit the company's website,
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