Gilat Satellite Networks (GILT) Q1 2026 earnings summary

Executive summary

• Achieved strong Q1 2026 results with revenue of $110.5 million, up 20% year-over-year, and adjusted EBITDA of $15.1 million, nearly double the prior year, driven by robust execution in defense and commercial markets, including new product launches and strategic partnerships.

• Demonstrated technology leadership with live virtualized SATCOM gateway demo, 5G NTN integration, and new ESA terminal launches, reinforcing position in both commercial and defense markets.

• Continued investment in advanced, interoperable satellite communication systems, supporting next-generation networks and expanding customer engagement, especially in India.

• Reiterated 2026 guidance with revenue expected between $500 million and $520 million and adjusted EBITDA between $61 million and $66 million.

• Strong backlog and healthy pipeline support confidence in meeting full-year targets.

Financial highlights

• Q1 2026 revenues reached $110.5 million, up 20% year-over-year from $92 million in Q1 2025.

• Adjusted EBITDA was $15.1 million, up 98% year-over-year.

• GAAP net income was $5.2 million (diluted EPS $0.07), compared to a net loss of $6 million in Q1 2025.

• Non-GAAP net income was $13.6 million (diluted EPS $0.18), up from $1.8 million (diluted EPS $0.03) in Q1 2025.

• Ended the quarter with $171 million in liquidity and shareholders' equity of $536 million.

Outlook and guidance

• 2026 revenue guidance is $500–$520 million, representing 13% year-over-year growth at the midpoint.

• Adjusted EBITDA guidance for 2026 is $61–$66 million, a 19% increase at the midpoint.

• Growth is expected across all key segments, supported by a robust backlog and healthy pipeline.