Gilat Posts 20% Q1 Revenue Growth to $110.5 M, Doubles Adjusted EBITDA
First quarter revenue rose 20% year-over-year to $110.5 million while GAAP operating income swung to $4.4 million from a $2.7 million loss. Non-GAAP net income more than doubled to $13.6 million ($0.18 per share) and management reconfirmed 2026 revenue guidance of $500–520 million with adjusted EBITDA of $61–66 million.
1. Q1 Financial Results
Gilat reported Q1 revenue of $110.5 million, a 20% increase from $92 million a year earlier. GAAP operating income turned positive at $4.4 million versus a $2.7 million loss, non-GAAP net income rose to $13.6 million ($0.18 per share), and adjusted EBITDA reached $15.1 million, up from $7.6 million.
2. Strategic Growth Drivers
The quarter’s momentum reflected expansion in defense markets across additional countries, a strategic multimillion-dollar partnership in India, and growing demand for virtualized network solutions following a successful AWS and SES demonstration. Introduction of high-power solid-state amplifiers and strong aviation connectivity orders further bolstered the order book.
3. Guidance and Outlook
Management reaffirmed full-year 2026 revenue guidance of $500–520 million, implying roughly 13% growth, and adjusted EBITDA guidance of $61–66 million, or about 19% growth. A robust backlog, expanding aviation and portable gateway demand, and selective strategic investments underpin the outlook.