Gilat Satellite Networks Files 2024 Annual Report
Ticker: GILT · Form: 20-F · Filed: Mar 27, 2025 · CIK: 897322
Sentiment: neutral
Topics: annual-report, financials, tax-credits
TL;DR
Gilat's 2024 20-F is in, shows financials and a $952k CARES Act credit from Uncle Sam.
AI Summary
Gilat Satellite Networks Ltd. filed its annual 20-F report for the fiscal year ending December 31, 2024. The filing details financial information, including net assets and tax benefits. Notably, as of December 31, 2023, the company had a $952 receivable balance from the U.S. government related to the CARES Act Employee Retention Credit.
Why It Matters
This filing provides investors with a comprehensive overview of Gilat's financial health and operational status for the past fiscal year, including potential government credits.
Risk Assessment
Risk Level: low — This is a standard annual filing providing financial disclosures, not indicating immediate operational or financial distress.
Key Numbers
- $952 — CARES Act Receivable (Amount receivable from the U.S. government as of December 31, 2023, related to the Employee Retention Credit.)
- $62,179 — Accumulated Impairment Losses (Net of these losses are reflected in the company's financial statements.)
- $3,241 — Unrecognized Tax Benefits (2024) (Amount presented as a reduction from deferred tax assets for the year ended December 31, 2024.)
- $2,860 — Unrecognized Tax Benefits (2023) (Amount presented as a reduction from deferred tax assets for the year ended December 31, 2023.)
Key Players & Entities
- GILAT SATELLITE NETWORKS LTD (company) — Filer of the 20-F report
- 0000897322 (company) — Central Index Key for Gilat Satellite Networks Ltd.
- 20241231 (date) — Conformed period of report
- 20250327 (date) — Filed as of date
- $952 (dollar_amount) — Receivable balance from U.S. government related to CARES Act as of December 31, 2023
- Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (legislation) — Legislation providing eligibility for Employee Retention Credit
FAQ
What is the total net asset value reported by Gilat Satellite Networks Ltd. for the fiscal year ending December 31, 2024?
The filing mentions net of accumulated impairment losses of $62,179, but a specific total net asset value is not explicitly stated in the provided text snippet.
What was the exact amount of the Employee Retention Credit receivable from the U.S. government as of December 31, 2023?
As of December 31, 2023, the company had a $952 receivable balance from the United States government related to the CARES Act Employee Retention Credit.
How are unrecognized tax benefits presented in Gilat's financial statements for 2024 and 2023?
For the years ended December 31, 2024 and 2023, the amounts include $3,241 and $2,860, respectively, of unrecognized tax benefits which are presented as a reduction from deferred tax assets.
What is the Standard Industrial Classification (SIC) code for Gilat Satellite Networks Ltd.?
The Standard Industrial Classification code for Gilat Satellite Networks Ltd. is 3663, which corresponds to RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT.
What is the business address and phone number listed for Gilat Satellite Networks Inc. in the filing?
The business address is 1651 OLD MEADOW RD, MCLEAN, VA 22102, and the business phone number is 7037349401.
Filing Details
This Form 20-F (Form 20-F) was filed with the SEC on March 27, 2025 regarding GILAT SATELLITE NETWORKS LTD (GILT).