Gilat Delivers Strong First Quarter 2026 with Doubling of Adjusted EBITDA and Expanding Market Opportunities

Revenue Growth and Profitability Mark a Significant Turnaround

Gilat Satellite Networks (NASDAQ: GILT) kicked off 2026 with a significant financial upturn, reporting first-quarter results that reflect both accelerating growth and improving profitability. Revenues hit $110.5 million, an increase of 20% over the same period last year. Notably, the company transformed last year’s GAAP net loss into a net income of $5.23 million, pointing to not just growth, but a fundamental shift in operational efficiency.

Adjusted EBITDA Doubles as Both Commercial and Defense Segments Expand

Gilat’s adjusted EBITDA doubled compared to the first quarter of 2025, reaching $15.09 million. The Commercial segment led revenues with $72.79 million, while Defense contributed $25.43 million, and operations in Peru added another $12.26 million. The company’s non-GAAP net income saw a dramatic gain, jumping to $13.59 million from $1.83 million a year earlier, largely on the back of a diversified product and customer footprint.

Robust Guidance Reaffirmed for 2026: Double-Digit Growth Expected

Looking ahead, management maintained its full-year guidance for 2026, projecting revenues between $500 million and $520 million (13% midpoint growth) and Adjusted EBITDA in the $61 million to $66 million range (19% midpoint growth). CEO Adi Sfadia highlighted continued execution on key initiatives, especially the expansion in defense markets and new commercial partnerships in India.

Strategic Wins and Backlog Strength to Fuel Ongoing Growth

Gilat’s quarter was punctuated by high-impact strategic developments. Recent wins include multimillion-dollar partnerships in India, a $7 million contract with the U.S. Department of War, over $16 million in orders from a European Ministry of Defense, and a $39 million order for electronically steered antenna (ESA) terminals. The company also advanced its technology through the introduction of high-power solid-state power amplifiers, and successful demonstrations with AWS and SES Space & Defense.

Segment Revenues Highlight Diversified Growth

Balance Sheet Remains Healthy Despite Strategic Investments

Gilat closed the quarter with $140 million in cash and equivalents and total assets of $755.8 million, supporting a strong equity base. While operating cash flow was negative for the quarter—largely due to increased contract assets and investments in growth initiatives—management signaled confidence in ongoing execution and pipeline conversion throughout the year.

Takeaway: Execution and Innovation Setting a Strong Pace for 2026

Gilat’s Q1 2026 results reveal more than just a recovery—they show sustained execution, renewed profitability, and the building blocks for continued double-digit growth. Investors will want to monitor deal flow momentum, product adoption in multi-orbit SATCOM, and evolving partnerships. The company’s archived webcast and further financial disclosures are available for deeper review on their website, offering more insight into the sustained path Gilat’s management sees for the remainder of 2026.

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