PETAH TIKVA, Israel - Gilat Satellite Networks Ltd. (NASDAQ:TASE: NASDAQ:GILT), a prominent provider of satellite networking technology with a market capitalization of $350 million and an "GOOD" financial health rating according to InvestingPro, has announced the receipt of orders totaling $9 million from leading satellite operators. The orders, intended for Gilat's advanced satellite communications platforms, SkyEdge IV and SkyEdge II-c, along with related services, are scheduled for delivery over the next 12 months. Analysis from InvestingPro indicates the stock is currently trading below its Fair Value, suggesting potential upside opportunity.
The company's SkyEdge technology is utilized by top satellite operators worldwide to offer superior connectivity across various satellite constellations. These platforms are engineered to support high-performance satellite communications, catering to diverse applications such as maritime, cellular backhaul, and enterprise solutions. This technological leadership has contributed to Gilat's impressive 15.14% revenue growth over the last twelve months.
Hagay Katz, Gilat's Chief Product and Marketing Officer, expressed enthusiasm about supporting global satellite operators and noted Gilat's role as a key supplier for multi-orbit solutions. Katz emphasized that the SkyEdge platforms are designed to meet the requirements of next-generation networks, ensuring seamless multi-orbit integration. He highlighted that these orders reaffirm the company's commitment to innovation and its capability to provide satellite operators with necessary flexibility and scalability to meet market demands.
Gilat Satellite Networks, with over 35 years of industry experience, delivers comprehensive satellite-based broadband communications solutions. The company's extensive portfolio supports various applications and includes cloud-based platforms, high-performance satellite terminals, Satellite On-the-Move (SOTM) antennas, Solid State Power Amplifiers (SSPA), Block Upconverters (BUC), and integrated ground systems for commercial and defense applications. Gilat's offerings also encompass network management software and cybersecurity services.
The announcement is based on a press release statement and reflects Gilat's ongoing efforts to expand its reach and deliver advanced satellite communication solutions to a global clientele. The company maintains a strong financial position with a healthy current ratio of 2.17 and more cash than debt on its balance sheet. For deeper insights into Gilat's financial metrics and growth potential, investors can access comprehensive analysis through InvestingPro, which offers additional ProTips and detailed financial metrics for informed decision-making.
In other recent news, Gilat Satellite Networks Ltd. reported a 17% year-over-year revenue increase in Q3 2024, reaching $74.6 million. This growth is attributed to the recent acquisition of DataPath and advancements in its defense and in-flight connectivity sectors. However, the company saw a decrease in GAAP net income to $6.8 million, or $0.12 per diluted share, down from $10.2 million or $0.18 per share in the same quarter of the previous year. Gilat also announced the anticipated closure of the Stellar Blu acquisition by year's end.
The company has narrowed its 2024 revenue guidance to between $305 million and $315 million. Additionally, Gilat expects Stellar Blu to contribute $25 million to $35 million in revenue in Q4 2024, with projected revenues for Stellar Blu in 2025 ranging between $120 million and $150 million. Another significant development includes Gilat's exit from the Russian market and a $10 million arbitration win in Peru.
Despite some challenges, such as a decline in organic revenue excluding DataPath by 10%, and a decrease in GAAP operating income to $6.7 million from $12.7 million, Gilat remains confident in its growth prospects. The company's CEO, Adi Sfadia, expressed optimism about the SES's mPOWER program and the EU's Iris Square initiative, expecting significant growth in 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.