Gilat profitability surges as adjusted EBITDA doubles in strong Q1

Gilat Satellite Networks (NASDAQ:GILT) reported a powerful start to 2026, delivering a "beat-and-raise" style performance in its first-quarter results.

The company posted revenue of $110.5 million, a 20% increase from the $92 million recorded in the first quarter of 2025.

This growth was underpinned by strong execution in the defense sector and significant commercial milestones, including new strategic partnerships for its SkyEdge IV platform in India.

The quarter’s most striking highlight was the massive expansion in operational profitability.

Gilat achieved a GAAP operating income of $4.4 million, representing a complete turnaround from the $2.7 million operating loss seen in the prior-year period.

On a non-GAAP basis, operating income climbed to $12.5 million, while adjusted EBITDA doubled to $15.1 million, up from $7.6 million in Q1 2025.

Earnings also swung back into the black, with the company reporting GAAP net income of $5.2 million, or $0.07 per diluted share.

This compares favorably to the $6 million net loss recorded a year ago.

Non-GAAP net income was even stronger at $13.6 million ($0.18 per share), comfortably exceeding analyst expectations.

Looking ahead, management reaffirmed its full-year 2026 guidance, projecting total revenue between $500 million and $520 million and Adjusted EBITDA in the range of $61 million to $66 million.