Gilat Satellite Networks (GILT) Q4 2025 earnings summary

Executive summary

• Q4 2025 revenue reached $137 million, up 75% year-over-year, with adjusted EBITDA of $18.2 million and strong momentum in commercial, defense, and Peru segments.

• Full year 2025 revenue was $451.7 million, up 48%, with record performance in key segments and significant customer wins.

• Entering 2026 with a robust backlog, strengthened balance sheet, and continued strategic progress in technology and market expansion.

• Growth was driven by organic expansion, acquisitions, and major capital raises totaling $166 million in 2025.

• Accelerated deployment and profitability in Peru, expanding broadband infrastructure and recurring revenue backlog.

Financial highlights

• Q4 2025 revenue was $137 million (+75% YoY); full year revenue reached $451.7 million (+48%).

• Q4 adjusted EBITDA was $18.2 million (+50% YoY); full year adjusted EBITDA was $53.2 million (+26%).

• Q4 GAAP net income was $8.8 million ($0.13/share), down from $11.8 million in Q4 2024; Q4 non-GAAP net income was $13.4 million ($0.20/share), up from $8.5 million.

• Cash and equivalents at year-end were $185.4 million; shareholders' equity totaled $500 million.

• Net cash at Q4 2025 was $183.4 million, up from $118.2 million in Q4 2024.

Outlook and guidance

• 2026 revenue expected between $500 million–$520 million, representing 13% growth at midpoint.

• 2026 adjusted EBITDA expected between $61 million–$66 million, 19% growth at midpoint.

• Commercial segment 2026 revenue guidance: $315 million–$335 million (16% growth midpoint); defense: $115 million–$130 million (22% growth midpoint); Peru: $60 million–$65 million (11% decrease midpoint).

• Growth supported by robust backlog and healthy pipeline across all key segments.