Reve ue G ew 17% to $122.7 Millio ; GAAP Ope ati g I come was $4.7 Millio ; Adjusted EBITDA I c eased 31% to $15.4 Millio
Comtech Acquisitio o T ack fo Expected Yea -E d Closi g
Reite ates 2026 Fi a cial Guida ce
PETAH TIKVA, Is ael, Aug. 05, 2026 (GLOBE NEWSWIRE) — Gilat Satellite Netwo ks Ltd. (NASDAQ: GILT, TASE: GILT), a wo ldwide leade i satellite etwo ki g tech ology, solutio s a d se vices, today epo ted its esults fo the seco d qua te , e ded Ju e 30, 2026.
Reve ue s i c eased to $122.7 millio , compa ed with $105 millio i Q2 2025;GAAP ope ati g i come of $4.7 millio , compa ed with GAAP ope ati g i come of $5.7 millio i Q2 2025;No -GAAP ope ati g i come i c eased 35% to $12.6 millio , compa ed with $9.3 millio i Q2 2025;GAAP et i come of $8.1 millio , o $0.10 pe diluted sha e, compa ed with GAAP et i come of $9.8 millio , o $0.17 pe diluted sha e, i Q2 2025;No -GAAP et i come of $15.6 millio , o $0.20 pe diluted sha e, compa ed with $12.0 millio , o $0.21 pe diluted sha e, i Q2 2025;Adjusted EBITDA i c eased 31% to $15.4 millio , sig ifica tly imp ovi g ma gi s compa ed with $11.8 millio i Q2 2025
Ma ageme t eite ates guida ce fo 2026 fo eve ue betwee $500 to $520 millio , ep ese ti g a eve ue g owth ate of app oximately 13% at the midpoi t. Adjusted EBITDA fo 2026 is expected to be betwee $61 to $66 millio , ep ese ti g a g owth ate of app oximately 19% at the midpoi t.
“The a ou ced Comtech acquisitio is p og essi g well a d is the ext majo step i Gilat’s t a sfo matio i to a scaled defe se, space, a d missio -c itical commu icatio s tech ology compa y. The acquisitio is expected to c eate a compa y with mo e tha $700 millio i p o fo ma a ual eve ues, mo e tha double Gilat Defe se eve ues, expa d ou U.S. e gi ee i g a d ma ufactu i g footp i t, a d imp ove access to la ge U.S. a d allied defe se a d space p og ams.The acquisitio is a ticipated to close towa d yea -e d, subject to egulato y app ovals a d customa y closi g co ditio s.”
- Gilat to Acqui e Comtech’s Satellite & Space Commu icatio s Segme t C eati g a Leadi g P ovide of Adva ced Defe se a d Satellite Commu icatio s Solutio s
- Leadi g Global Satellite Ope ato Awa ds Gilat Ove $20 Millio i SkyEdge O de s
- Gilat Receives $11 Millio i U.S. Depa tme t of Wa O de s, Rei fo ci g Role i Missio -C itical Defe se Co ectivity
- Gilat Receives $43 Millio of Additio al Sidewi de ESA O de s f om Leadi g I -flight Co ectivity Se vice P ovide
- Gilat Receives Multi-Millio Dolla O de fo Customized SATCOM Te mi als Suppo ti g Eu opea Defe se Commu icatio s
- Gilat P ese ts Expa ded Po tfolio fo Tactical U ma ed Platfo ms at Eu osato y 2026
- Boei g a d Gilat Achieve Key I -Cabi Offe ability Milesto e fo Sidewi de Li e-fit Multi‑O bit Solutio
Gilat’s ma ageme t will discuss its seco d qua te 2026 esults a d busi ess achieveme ts a d pa ticipate i a questio -a d-a swe sessio :
I E glish:
| Date: | Wed esday, August 5, 2026 | Sta t: | 09:30 AM EDT / 16:30 IST |
A simulta eous webcast of the co fe e ce call will be available o the Gilat website at www.gilat.com a d th ough this li k: https://www.veida -co fe e ci g.com/gilat
O Dial-i :
| US: | 1-888-407-2553 | I te atio al: | +972-3-918-0609 |
The webcast will also be a chived fo a pe iod of 30 days o the Compa y’s website a d th ough the li k above.
I Heb ew:
| Date: | Thu sday, August 6, 2026 | Sta t: | 10:00 AM IST |
A simulta eous webcast of the co fe e ce call will be available o the Gilat website at www.gilat.com a d th ough this li k:
The attached u audited summa y co solidated fi a cial stateme ts we e p epa ed i acco da ce with U.S. Ge e ally Accepted Accou ti g P i ciples (GAAP). To suppleme t the summa y co solidated fi a cial stateme ts p ese ted i acco da ce with GAAP, the Compa y p ese ts o -GAAP measu eme ts of g oss p ofit, ope ati g expe ses, ope ati g i come, i come befo e taxes o i come, et i come, Adjusted EBITDA, a d ea i gs pe sha e. The adjustme ts to the Compa y’s GAAP esults a e made with the i te t of p ovidi g both ma ageme t a d i vesto s with a mo e complete u de sta di g of the Compa y’s u de lyi g ope atio al esults, t e ds, a d pe fo ma ce. No -GAAP fi a cial measu es mai ly exclude, if a d whe applicable, the effect of stock-based compe satio , amo tizatio of pu chased i ta gibles, lease i ce tive amo tizatio , othe o – ecu i g expe ses, othe i teg atio expe ses, othe ope ati g expe ses (i come), et, a d the i come tax effect o the eleva t adjustme ts.
Adjusted EBITDA is p ese ted to compa e the Compa y’s pe fo ma ce to that of p io pe iods a d evaluate the Compa y’s fi a cial a d ope ati g esults o a co siste t basis f om pe iod to pe iod. The Compa y also believes this measu e, whe viewed i combi atio with the Compa y’s fi a cial esults p epa ed i acco da ce with GAAP, p ovides useful i fo matio to i vesto s to evaluate o goi g ope ati g esults a d t e ds. Adjusted EBITDA, howeve , should ot be co side ed as a alte ative to ope ati g i come o et i come fo the pe iod a d may ot be i dicative of the histo ical ope ati g esults of the Compa y; o is it mea t to be p edictive of pote tial futu e esults. Adjusted EBITDA is ot a measu e of fi a cial pe fo ma ce u de GAAP a d may ot be compa able to othe simila ly titled measu es fo othe compa ies. A eco ciliatio betwee the Compa y’s et i come a d Adjusted EBITDA is p ese ted i the attached summa y co solidated fi a cial stateme ts.
No -GAAP p ese tatio s of g oss p ofit, ope ati g expe ses, ope ati g i come, i come befo e taxes o i come, et i come, Adjusted EBITDA a d ea i gs pe sha e should ot be co side ed i isolatio o as a substitute fo a y of the co solidated stateme ts of ope atio s p epa ed i acco da ce with GAAP, o as a i dicatio of Gilat’s ope ati g pe fo ma ce o liquidity.
Gilat Satellite Netwo ks Ltd. (NASDAQ: GILT, TASE: GILT) is a leadi g global p ovide of satellite-based b oadba d commu icatio s. With ove 35 yea s of expe ie ce, we develop a d delive deep tech ology solutio s fo satellite, g ou d, a d ew space co ectivity, offe i g ext-ge e atio solutio s a d se vices fo c itical co ectivity ac oss comme cial a d defe se applicatio s. We believe i the ight of all people to be co ected a d a e u ited i ou esolutio to p ovide commu icatio solutio s to all eaches of the wo ld.
Togethe with ou wholly ow ed subsidia ies Gilat Wavest eam, Gilat DataPath, a d Gilat Stella Blu, we offe i teg ated, high-value solutio s suppo ti g multi-o bit co stellatio s, Ve y High Th oughput Satellites (VHTS), a d Softwa e-Defi ed Satellites (SDS) via ou Comme cial a d Defe se Divisio s. Ou comp ehe sive po tfolio is comp ised of a softwa e-defi ed platfo m a d modems, high-pe fo ma ce satellite te mi als, adva ced Satellite O -the-Move (SOTM) a te as a d Elect o ically Stee ed A te as (ESAs), highly efficie t, high-powe Solid State Powe Amplifie s (SSPAs) a d Block Upco ve te s (BUCs) a d i cludes i teg ated g ou d systems fo comme cial a d defe se ma kets, field se vices, etwo k ma ageme t softwa e, a d cybe secu ity se vices.
Gilat’s p oducts a d tailo ed solutio s suppo t multiple applicatio s i cludi g gove me t a d defe se, IFC a d mobility, cellula backhaul, e te p ise, ae ospace a d c itical i f ast uctu e clie ts all while meeti g the most st i ge t se vice level equi eme ts. Fo mo e i fo matio , please visit:
This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of the P ivate Secu ities Litigatio Refo m Act of 1995. Fo wa d-looki g stateme ts a e stateme ts that a e ot histo ical facts a d ca ge e ally be ide tified by the use of fo wa d-looki g te mi ology such as “estimate,” “p oject,” “i te d,” “expect,” “believe,” “a ticipate,” “pla ,” “may,” “will,” “seek,” “could,” “should,” o simila exp essio s. These fo wa d-looki g stateme ts i volve k ow a d u k ow isks, u ce tai ties a d othe facto s that could cause actual esults, pe fo ma ce o achieveme ts of Gilat to diffe mate ially f om those exp essed i , o implied by, such stateme ts. These isks a d u ce tai ties i clude, amo g othe s, cha ges i ge e al eco omic, ma ket a d busi ess co ditio s; failu e to mai tai ma ket accepta ce of Gilat’s p oducts; failu e to timely develop a d i t oduce ew tech ologies, p oducts a d applicatio s; apid cha ges i the ma kets i which Gilat ope ates; i c eased competitio , loss of ma ket sha e o p essu e o p ices; loss of key OEM pa t e s; i ability to att act a d etai qualified pe so el; i ability to p otect p op ieta y tech ology; a d isks associated with Gilat’s i te atio al ope atio s a d its locatio i Is ael, i cludi g those a isi g f om egio al milita y co flicts a d geopolitical i stability. Fo additio al i fo matio ega di g these a d othe isks a d u ce tai ties, please efe to Gilat’s fili gs with the U.S. Secu ities a d Excha ge Commissio . Gilat u de takes o obligatio to update o evise a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts o othe wise, except as equi ed by law.
GilatIR@allia ceadviso s.comPho e: +1 212 838 3777
__________________________________1 We do ot p ovide fo wa d-looki g guida ce o a GAAP basis because we a e u able to easo ably p ovide fo wa d-looki g guida ce fo ce tai fi a cial data, such as ea out-based expe ses elated to ece t acquisitio s. As a esult, we a e ot able to p ovide a eco ciliatio of GAAP to o -GAAP fi a cial measu es fo fo wa d looki g data without u easo able effo t.
| Reve ues | $ | 233,137 | $ | 197,007 | $ | 122,663 | $ | 104,970 | Cost of eve ues | 158,231 | 136,682 | 85,406 | 73,043 | Resea ch a d developme t expe ses, et | 23,718 | 23,930 | 11,601 | 12,309 | Selli g a d ma keti g expe ses | 19,211 | 16,467 | 9,504 | 8,265 | Ge e al a d admi ist ative expe ses | 22,618 | 13,027 | 12,220 | 6,243 | Othe ope ati g expe ses (i come), et | 281 | 3,964 | (760) | (574) | Fi a cial i come (expe ses), et | 3,462 | (2,186) | 2,167 | (1,250) | Taxes o i come | 841 | 3,083 | 1,288 | 5,396 | Basic | Diluted |
| G oss p ofit | $ | 37,257 | 1,662 | $ | 38,919 | $ | 31,927 | 2,557 | $ | 34,484 | Ope ati g expe ses | 32,565 | (6,218 | ) | 26,347 | 26,243 | (1,043 | ) | 25,200 | Ope ati g i come | 4,692 | 7,880 | 12,572 | 5,684 | 3,600 | 9,284 | I come befo e taxes o i come | 6,859 | 7,880 | 14,739 | 4,434 | 3,600 | 8,034 | Net i come | 7,491 | 2,131 | Basic ea i gs pe sha e | $ | 0.09 | $ | 0.04 | Diluted ea i gs pe sha e | $ | 0.10 | $ | 0.04 | Weighted ave age umbe of sha es used i | computi g ea i gs pe sha e | Basic | 77,007,203 | 77,007,203 | 57,124,568 | 57,124,568 | Diluted | 79,427,208 | 79,924,184 | 57,341,141 | 58,041,043 | (*) Adjustme ts eflect the effect of stock-based compe satio as pe ASC 718, amo tizatio of pu chased i ta gibles, othe ope ati g i come, et, | othe i teg atio expe ses a d i come tax effect o such adjustme ts which is calculated usi g the eleva t effective tax ate. | GAAP et i come | $ | 8,147 | $ | 9,830 | G oss p ofit | Stock-based compe satio expe ses | 199 | 228 | Amo tizatio of pu chased i ta gibles | 1,443 | 2,302 | Othe i teg atio expe ses | 20 | 27 | 1,662 | 2,557 | Ope ati g expe ses | Stock-based compe satio expe ses | 1,523 | 1,084 | Stock-based compe satio elated to busi ess combi atio | 4,258 | (920 | ) | Amo tizatio of pu chased i ta gibles | 1,103 | 1,269 | Othe ope ati g i come, et | (760 | ) | (574 | ) | Othe i teg atio expe ses | 94 | 184 | 6,218 | 1,043 | Taxes o i come | (389 | ) | (1,469 | ) | No -GAAP et i come | $ | 15,638 | $ | 11,961 |
| G oss p ofit | $ | 74,906 | 3,306 | 78,212 | $ | 60,325 | 3,368 | $ | 63,693 | Ope ati g expe ses | 65,828 | (12,686) | 53,142 | 57,388 | (8,132) | 49,256 | Ope ati g i come | 9,078 | 15,992 | 25,070 | 2,937 | 11,500 | 14,437 | I come befo e taxes o i come | 12,540 | 15,992 | 28,532 | 751 | 11,500 | 12,251 | Net i come | 15,844 | 9,954 | Basic ea i gs pe sha e | $ | 0.21 | $ | 0.17 | Diluted ea i gs pe sha e | $ | 0.20 | $ | 0.17 | Weighted ave age umbe of sha es used i | computi g ea i gs pe sha e | Basic | 75,766,488 | 75,766,488 | 57,081,120 | 57,081,120 | Diluted | 78,341,256 | 78,833,628 | 57,189,406 | 58,023,137 | (*) Adjustme ts eflect the effect of stock-based compe satio as pe ASC 718, amo tizatio of pu chased i ta gibles, othe ope ati g expe ses, et, | othe i teg atio expe ses a d i come tax effect o such adjustme ts which is calculated usi g the eleva t effective tax ate. | GAAP et i come | $ | 13,381 | $ | 3,834 | G oss p ofit | Stock-based compe satio expe ses | 398 | 402 | Amo tizatio of pu chased i ta gibles | 2,871 | 2,902 | Othe i teg atio expe ses | 37 | 64 | 3,306 | 3,368 | Ope ati g expe ses | Stock-based compe satio expe ses | 3,004 | 1,984 | Stock-based compe satio elated to busi ess combi atio | 7,000 | (313) | Amo tizatio of pu chased i ta gibles | 2,196 | 2,153 | Othe ope ati g expe ses, et | 281 | 3,964 | Othe i teg atio expe ses | 205 | 344 | 12,686 | 8,132 | Taxes o i come | (148) | (1,546) | No -GAAP et i come | $ | 29,225 | $ | 13,788 |
| GAAP et i come | $ | 13,381 | $ | 3,834 | $ | 8,147 | $ | 9,830 | Adjustme ts: | Fi a cial expe ses (i come), et | (3,462) | 2,186 | (2,167) | 1,250 | Taxes o i come | (841) | (3,083) | (1,288) | (5,396) | Stock-based compe satio expe ses | 3,402 | 2,386 | 1,722 | 1,312 | Stock-based compe satio elated to busi ess combi atio | 7,000 | (313) | 4,258 | (920) | Dep eciatio a d amo tizatio (*) | 10,530 | 10,046 | 5,414 | 6,084 | Othe ope ati g expe ses (i come), et | 281 | 3,964 | (760) | (574) | Othe i teg atio expe ses | 242 | 408 | 114 | 211 | Adjusted EBITDA | $ | 30,533 | $ | 19,428 | $ | 15,440 | $ | 11,797 | (*) I cludi g amo tizatio of lease i ce tive | Comme cial | $ | 155,771 | $ | 133,277 | $ | 82,986 | $ | 69,057 | Defe se | 47,890 | 43,004 | 22,463 | 19,993 | Pe u | 29,476 | 20,726 | 17,214 | 15,920 |
| Cash a d cash equivale ts | $ | 144,805 | $ | 168,907 | Sho t-te m deposits | 14,350 | 16,433 | Rest icted cash | 64 | 88 | T ade eceivables, et | 107,656 | 85,929 | Co t act assets | 32,792 | 36,987 | I ve to ies | 65,490 | 45,430 | Othe cu e t assets | 34,583 | 37,406 | 399,740 | 391,180 | Lo g-te m co t act assets | 7,193 | 7,890 | Seve a ce pay fu ds | 7,269 | 6,941 | Defe ed taxes, et | 17,923 | 15,558 | Ope ati g lease ight-of-use assets | 7,510 | 5,922 | Othe lo g-te m assets | 28,696 | 19,871 | 68,591 | 56,182 | 74,309 | 75,172 | 48,994 | 53,986 | 169,534 | 169,534 | $ | 761,168 | $ | 746,054 | Cu e t matu ities of lo g-te m loa | $ | 2,000 | $ | 2,000 | T ade payables | 45,443 | 31,614 | Acc ued expe ses | 73,352 | 58,878 | Adva ces f om custome s a d defe ed eve ues | 50,215 | 78,499 | Ope ati g lease liabilities | 3,251 | 2,957 | Othe cu e t liabilities | 28,914 | 41,529 | 203,175 | 215,477 | Acc ued seve a ce pay | 7,818 | 7,508 | Lo g-te m adva ces f om custome s a d defe ed eve ues | 71 | 67 | Ope ati g lease liabilities | 4,364 | 3,102 | Othe lo g-te m liabilities | 1,131 | 19,622 | 13,384 | 30,299 | Sha e capital – o di a y sha es of NIS 0.2 pa value | 3,970 | 3,765 | Additio al paid-i capital | 1,148,171 | 1,115,030 | Accumulated othe comp ehe sive loss | (6,164 | ) | (3,768 | ) | Accumulated deficit | (601,368 | ) | (614,749 | ) | 544,609 | 500,278 | $ | 761,168 | $ | 746,054 |
| $ | 13,381 | $ | 3,834 | $ | 8,147 | $ | 9,830 | Dep eciatio a d amo tizatio | 10,423 | 9,942 | 5,344 | 6,037 | Stock-based compe satio expe ses | 10,402 | 2,073 | 5,980 | 392 | Acc ued seve a ce pay, et | (17 | ) | (76 | ) | (111 | ) | (54 | ) | Defe ed taxes, et | (2,365 | ) | (4,233 | ) | (2,162 | ) | (6,217 | ) | I c ease i t ade eceivables, et | (22,202 | ) | (9,234 | ) | (7,423 | ) | (13,762 | ) | Dec ease i co t act assets | 4,891 | 16,552 | 8,868 | 24,350 | Dec ease (i c ease) i othe assets a d othe adjustme ts (i cludi g sho t-te m, lo g-te m a d effect of excha ge ate cha ges o cash, cash equivale ts a d est icted cash) | 1,485 | 11,754 | 11,285 | (6,636 | ) | Dec ease (i c ease) i i ve to ies | (20,212 | ) | 96 | (20,705 | ) | 11,552 | I c ease (dec ease) i t ade payables | 13,860 | (14,690 | ) | 11,409 | (6,862 | ) | I c ease (dec ease) i acc ued expe ses | 14,153 | (4,587 | ) | 17,567 | 1,771 | Dec ease i adva ces f om custome s a d defe ed eve ues | (28,292 | ) | (15,426 | ) | (27,371 | ) | (14,330 | ) | I c ease (dec ease) i othe liabilities | (9,592 | ) | 2,526 | (12,739 | ) | (928 | ) | Pu chase of p ope ty, equipme t a d i ta gible assets | (4,175 | ) | (4,256 | ) | (1,662 | ) | (2,766 | ) | I vestme t i othe asset | – | (3,500 | ) | – | (1,000 | ) | I vestme t i sho t-te m deposits | (14,350 | ) | – | – | – | P oceeds f om sho t-te m deposits | 16,433 | – | 16,433 | – | Acquisitio s of subsidia ies, et of cash acqui ed | (10,000 | ) | (104,943 | ) | (10,000 | ) | – | P oceeds f om lo g-te m loa , et of associated costs | – | 58,970 | – | – | Repayme t of lo g-te m loa | – | (750 | ) | – | (750 | ) | P oceeds f om exe cise of stock optio s | 46 | – | 32 | – |
