Welcome to our dedicated page for Gilat Satellite news (Ticker: GILT), a resource for investors and traders seeking the latest updates and insights on Gilat Satellite stock.
Gilat Satellite Networks Ltd. (GILT) generates frequent news as a global provider of satellite-based broadband communications and satellite networking technology. Company announcements often highlight orders, contract awards, and platform deployments that showcase demand for its ground-based satellite equipment, multi-orbit connectivity platforms, and defense communications solutions.
Investors and industry followers can use this news stream to see how Gilat’s Commercial and Defense Divisions are performing across key markets. Recent press releases describe multi-million-dollar orders for SkyEdge IV multi-orbit platforms, gateway Solid State Power Amplifiers to support Low Earth Orbit constellations, and Aerostream Ka-band BUCs for in-flight connectivity on commercial aircraft. Other updates cover transportable SATCOM terminals supplied to the U.S. Army and contracts supporting the U.S. Department of Defense and Israel’s Ministry of Defense.
Gilat’s news also includes financial updates, such as quarterly results furnished on Form 6-K, guidance changes, and details of private placements of ordinary shares to institutional and accredited investors. These items provide insight into revenue trends, profitability metrics like Adjusted EBITDA, and the company’s capital-raising activities for general corporate purposes and potential strategic acquisitions.
On this GILT news page, readers can follow categories such as earnings reports, large equipment and platform orders, defense and government contracts, mobility and in-flight connectivity deployments, earth observation and geospatial solutions, and capital markets actions. Regularly reviewing these updates helps users understand how Gilat’s satellite networking technology is being adopted across government, defense, mobility, broadband access, cellular backhaul, enterprise, aerospace, broadcast, and critical infrastructure applications.
Gilat Satellite Networks Ltd. (Nasdaq: GILT) has filed its Annual Report on Form 20-F with the U.S. Securities and Exchange Commission, including audited financial statements for the year ending December 31, 2022. The report outlines the company's performance and is accessible on the Gilat website. Shareholders can request a free hard copy of the report. With over 30 years in satellite-based broadband communications, Gilat offers a comprehensive range of products, including cloud-based solutions and high-performance satellite terminals, focusing on applications like broadband access and military communications.
Gilat Satellite Networks Ltd. has successfully demonstrated a proof of concept (PoC) for converting analog signals to digital signals using the Digital Intermediate Frequency Interoperability (DIFI) 1.1 Standard. The event, showcased at Satellite 2023 in Washington, D.C., aims to enhance interoperability within the space industry’s digital transformation. This PoC highlights the digital modulator's ability to output a DVB-S2X conformant signal interoperable with a Block Upconverter (BUC) from Gilat's subsidiary, Wavestream. The DIFI standard holds promise for significant advancements in network performance and flexibility as the industry adapts to customer demands.
Gilat Satellite Networks Ltd. (Nasdaq: GILT) has announced the acquisition of DataPath, Inc., a leader in US Department of Defense communications. This acquisition aims to expand Gilat's presence in the Defense market, projecting an annual revenue increase of approximately $50 million. The transaction, approved by both companies' boards, is subject to regulatory approvals and is expected to close in Q3 2023. DataPath brings over 25 years of experience and specializes in mission-critical communications, enhancing Gilat's strategic position in the DoD sector. Both companies anticipate profitable growth together.
Gilat Satellite Networks has announced the launch of its new Wavestream Endurance 500W Ka-Wideband Block Upconverter, a solid-state power amplifier designed to disrupt the TWT amplifier market. This product features a fully redundant design for maximum power availability, covering both military and commercial Ka frequency bands. Currently being evaluated by the US DoD for a significant SATCOM program, Gilat anticipates follow-on orders worth millions of dollars. Wavestream has a strong track record of delivering high-performance satellite communications products, contributing to the company's robust market position.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced its participation in the 35th Annual Roth Conference on March 6, 2023, at the Ritz Carlton in Laguna Niguel, California. Chief Financial Officer Gil Benyamini will hold one-on-one meetings with investors. Interested parties can schedule meetings by contacting Roth representatives or the investor relations team via email.
Gilat is recognized globally for its satellite-based broadband communications, offering advanced connectivity solutions for various applications, including military and enterprise sectors. For more details about Gilat's technology and services, visit www.gilat.com.
Gilat Satellite Networks Ltd. (Nasdaq: GILT) announced a partnership with Hispasat to utilize its SkyEdge IV platform for high-performance satellite services. This collaboration will enhance Hispasat's Amazonas Nexus satellite capabilities, which cover the Americas and the Atlantic. Hispasat aims to expand service coverage in Latin America in the second half of 2023, leveraging Gilat's cutting-edge technology. The SkyEdge IV platform provides adaptability and high throughput, aligning with Hispasat's strategic goals.
Gilat Satellite Networks has launched the SkyEdge IV Taurus-M, a state-of-the-art satellite modem designed for military and government applications.
This modem is backward compatible with the previous model, SkyEdge II-c, ensuring investment protection for existing customers. Notably, the Taurus-M is lauded as the smallest high-performance modem, ideal for use in armored vehicles and rapid deployment.
Complying with MIL-STD-810F standards, it provides high-speed satellite communications for both stationary and moving operations, catering to the growing demand for mobile satellite solutions worldwide.
Gilat Satellite Networks Ltd. (GILT) announced its collaboration with TIM Brasil, enabling the latter to achieve mobile coverage across all 5,570 municipalities in Brazil. This initiative, facilitated by Gilat's cellular backhaul over satellite solution, covers approximately 12 million hectares, primarily enhancing 4G connectivity for the agrobusiness sector. This significant milestone in digital inclusion marks TIM Brasil as the only Mobile Network Operator (MNO) to provide such extensive coverage, aiding economic development and technological accessibility in remote areas. The success reflects Gilat's strong technology and teamwork with TIM, highlighting a promising start to 2023.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) announced Q4 2022 revenue of $73 million, marking an 8% increase year-over-year, with GAAP operating income at $6 million. For the full year, revenue reached $240 million, up 12%, and GAAP operating income amounted to $10 million. Despite the growth, the company reported a GAAP net loss of $6 million in Q4 due to a one-time tax expense of $12.9 million. Excluding this expense, net income was $6.9 million. The company's Adjusted EBITDA stood at $10 million in Q4 and $25 million for the year, reflecting a 64% increase. Notably, Isaac Angel plans to step down as Chairman, with Ami Boehm appointed as his successor.
Gilat Satellite Networks Ltd. (NASDAQ: GILT) has secured a multimillion-dollar contract to enhance satellite communication capabilities in Asia-Pacific trains. The contract involves the deployment of Gilat's ER7000 SATCOM On-The-Move antennas, ensuring continuous internet access for passengers. These antennas are recognized for their reliable broadband connectivity and efficiency, crucial for real-time communication. Gilat aims to leverage this project for future growth, illustrating its commitment to improving transportation networks and passenger services.