PETAH TIKVA, Israel - Gilat Satellite Networks Ltd (NASDAQ:GILT). (NASDAQ: GILT, TASE: GILT), known for its satellite networking technology, solutions, and services, has secured orders totaling approximately $15 million from several leading satellite operators. The company announced today that it will supply advanced satellite communications solutions to support GEO, MEO, and LEO satellite constellations. Deliveries of these orders are scheduled over the next 18 months.
The new orders highlight Gilat's sustained partnerships with key industry players and affirm its status as a reliable provider of innovative satellite technology. The solutions offered by Gilat are essential for a wide array of connectivity and enterprise services worldwide. "We are witnessing continuous demand for our innovative satellite communications solutions, as operators continue to expand their networks to meet the increasing needs of users worldwide," stated Hagay Katz, Chief Product and Marketing Officer at Gilat.
Gilat's extensive experience in the field spans over 35 years, during which it has developed a diverse portfolio of products and tailored solutions. These include 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. These offerings cater to various applications such as broadband access, mobility, cellular backhaul, and government and critical infrastructure, ensuring high-value solutions for multiple orbit constellations.
The company's commitment to enabling global connectivity is evident in its efforts to provide communication solutions to all corners of the world, emphasizing the importance of connecting people everywhere. Gilat's technology is designed to support very high throughput satellites (VHTS) and software-defined satellites (SDS), highlighting its readiness for future connectivity demands.
This announcement is based on a press release statement from Gilat Satellite Networks Ltd. and reflects the company's current trajectory in the satellite communications market. The orders represent a significant milestone for Gilat, reinforcing its position within the industry and signaling potential growth and expansion in the near future.
In other recent news, Gilat Satellite Networks has seen a flurry of activity. The company reported a 13% year-over-year increase in revenue in its second quarter 2024 earnings call, which was primarily driven by its defense business and the acquisition of DataPath. Additionally, Gilat has secured the acquisition of Stellar Blu Solutions, projected to contribute between $120 million to $150 million in revenue in 2025.
Furthermore, Gilat's US subsidiary, DataPath Inc, has been awarded over $5 million in defense contracts to support the US Department of Defense. The company has also secured a $4 million contract to enhance rural connectivity in Latin America and a multimillion-dollar contract extension with a key satellite operator in the Asia-Pacific region. Gilat also received orders worth over $12 million for the expansion of a global satellite communication network using its SkyEdge Family of VSAT Platforms.
In a move to advance satellite communications, Gilat joined the board of the Waveform Architecture for Virtualized Ecosystems Consortium. This involvement signifies the company's commitment to innovation in the satellite communications industry. These are some of the recent developments that have been shaping Gilat Satellite Networks' strategic operations.
InvestingPro Insights
Gilat Satellite Networks Ltd.'s recent $15 million in orders aligns well with its financial performance, as revealed by InvestingPro data. The company's revenue growth of 12.61% over the last twelve months and 13.38% in the most recent quarter suggests a steady demand for its satellite communication solutions. This growth trajectory supports Gilat's ability to secure significant orders from leading satellite operators.
InvestingPro Tips highlight Gilat's strong financial position, noting that the company "holds more cash than debt on its balance sheet" and "liquid assets exceed short-term obligations." These factors provide Gilat with the financial flexibility to fulfill the new orders and potentially invest in further innovation to meet the evolving needs of the satellite industry.
The company's profitability over the last twelve months, as indicated by another InvestingPro Tip, is reflected in its P/E ratio of 14.23, which suggests a reasonable valuation relative to its earnings. This profitability, combined with Gilat's revenue growth, positions the company well to capitalize on the expanding satellite communications market.
It's worth noting that InvestingPro offers additional insights, with 7 more tips available for Gilat Satellite Networks Ltd. These could provide investors with a more comprehensive understanding of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.