Gilat Satellite Networks Ltd. Files Form 6-K

Ticker: GILT · Form: 6-K · Filed: Feb 12, 2025 · CIK: 897322

Sentiment: neutral

Topics: reporting, foreign-issuer, sec-filing

TL;DR

Gilat filed its monthly 6-K, confirming 20-F annual reports and ongoing SEC compliance.

AI Summary

Gilat Satellite Networks Ltd. filed a Form 6-K on February 12, 2025, reporting for the month of February 2025. The company is a foreign issuer and will file its annual reports under Form 20-F. The filing provides information to the SEC as required for foreign private issuers.

Why It Matters

This filing indicates ongoing reporting compliance by Gilat Satellite Networks Ltd. with the SEC, which is crucial for investors tracking the company's regulatory disclosures.

Risk Assessment

Risk Level: low — This is a routine reporting form for a foreign issuer and does not contain specific financial or operational news.

Key Players & Entities

FAQ

What is the purpose of a Form 6-K filing?

A Form 6-K is a report of foreign private issuers which furnishes information which such issuer would be required to make public pursuant to the laws of the issuer's country of origin or domicile, or to file or make public pursuant to the laws of any stock exchange on which its securities are traded.

Which annual report form does Gilat Satellite Networks Ltd. file?

Gilat Satellite Networks Ltd. files its annual reports under cover of Form 20-F.

What is the filing date of this Form 6-K?

The filing date of this Form 6-K is February 12, 2025.

Is Gilat Satellite Networks Ltd. a foreign issuer?

Yes, the filing explicitly states it is a report for a 'Foreign Issuer'.

Does this filing indicate that Gilat is furnishing information under Rule 12g3-2(b)?

No, the filing indicates 'No' for furnishing information under Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Filing Stats: 3,968 words · 16 min read · ~13 pages · Grade level 13.8 · Accepted 2025-02-12 07:07:15

Key Financial Figures

Filing Documents

From the Filing

FORM 6 – K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report on Foreign Issuer Pursuant to Rule 13a – 16 or 15d – 16 of the Securities Exchange Act of 1934 For the Month of February, 2025 Gilat Satellite Networks Ltd. (Translation of Registrant's Name into English) Gilat House, 21 Yegia Kapayim Street Daniv Park, Kiryat Arye, Petah Tikva 4913020, Israel (Address of Principal Corporate Offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes No If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A On February 12, 2025, the Registrant issued a press release announcing its unaudited fourth quarter and full year 2024 results. A copy of this press release is furnished herewith. The attached press release is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing. We consent to the incorporation by reference of the GAAP financial information included herein, in the Registration Statements on Form S-8 (Registration Nos. 333-180552, 333-187021, 333-204867, 333-210820, 333-217022, 333-221546, 333-223839, 333-231442, 333-236028, 333-253972, 333-255740, 333-264974 and 333-278802) and on Form F-3 (Registration No. 333-266044). Signature Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized. Gilat Satellite Networks Ltd. (Registrant) Dated February 12, 2025 By: /s/ Doron Kerbel Doron Kerbel General Counsel & Company Secretary ii Gilat Reports Fourth Quarter and Full Year 2024 Results Q4 Revenue of $78.1 million, GAAP Operating Income of $12.8 million and Adjusted EBITDA of $12.1 million 2024 Revenue of $305.4 million, GAAP Operating Income of $27.7 million and a 25-year Record Adjusted EBITDA of $42.2 million Expects 2025 Revenues to increase by 36%-50% Announces New Reporting Segments Petah Tikva, Israel, February 12, 2025 — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its unaudited results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 Financial Highlights Revenue of $78.1 million, up 3% compared with $75.6 million in Q4 2023; GAAP operating income of $12.8 million, compared with $2.9 million in Q4 2023; Non-GAAP operating income of $9.7 million, compared with $6.1 million in Q4 2023; GAAP net income of $11.8 million, or $0.21 per diluted share, compared with $3.4 million, or $0.06 per diluted share, in Q4 2023; Non-GAAP net income of $8.5 million, or $0.15 per diluted share, compared with $6.5 million, or $0.11 per diluted share, in Q4 2023; Adjusted EBITDA of $12.1 million, up 30% compared with $9.4 million in Q4 2023. Full year 2024 Financial Highlights Revenue of $305.4 million, up 15% compared with $266.1 million in 2023; GAAP operating income of $27.7 million, compared with $28.1 million in 2023; Non-GAAP operating income of $31.9 million, up 35% compared with $23.5 million in 2023; GAAP net income of $24.8 million, or $0.44 per diluted share, compared with $23.5 million, or $0.41 per diluted share in 2023; Non-GAAP net income of $28.2 million, or $0.49 per diluted share, compared with $19.9 million, or $0.35 per diluted share 2023; Adjusted EBITDA was $42.2 million, up 16% compared with adjusted EBITDA of $36.4 million in 2023. 2025 Guidance Management's financial guidance for 2025 is for revenues of between $415 to $455 million, and Adjusted EBITDA is expected to be between $47 to $53 million 1 . Adi Sfadia, Gilat's CEO, commented, "Gilat delivered strong results with profitability of Adjusted EBITDA of $12.1 million for the fourth quarter and $42.2 million for the entire year. These results alongside our strong generation of cash flow underscore the strength and resilience of our core business model, demonstrating both operating leverage and the positive impact of our current product revenue mix." "During the fourth quarter our Defense and In-Flight Connectivity business continued to experience strong momentum with increased orders and awards. The Defense segment, with a focus on the US DoD, represents a significant growth opportunity for Gilat. We are pleased with our progress

View Full Filing

View this 6-K filing on SEC EDGAR

View on Read The Filing