Gilat Satellite Networks Ltd. (NASDAQ:GILT) posted fourth-quarter results that topped expectations and paired them with a confident forecast for 2026, but the market reaction was sharply negative, with shares tumbling 15.27% in pre-market trading.
The satellite communications technology group reported adjusted earnings per share of $0.20 for the quarter, well ahead of the analyst consensus of $0.13. Revenue climbed to $137 million, beating estimates of $132.61 million and jumping 75% from $78.1 million a year earlier. Adjusted EBITDA reached $18.2 million, marking a 50% year-on-year increase.
Despite the strong headline numbers, the stock sold off heavily after the release, suggesting investors may have been positioned for even stronger results or were focused on other elements of the report.
“We ended 2025 with a very strong fourth quarter and a solid year, reflecting steady execution across the company, driven primarily by our key growth engines of Defense, IFC and advanced multi-orbit solutions,” said Adi Sfadia, Gilat’s CEO.
For full-year 2025, Gilat reported revenue of $451.7 million, up 48% from 2024, alongside record adjusted EBITDA of $53.2 million, representing 26% growth year over year.
Looking to 2026, the company issued upbeat guidance, forecasting revenue of $500 million to $520 million, implying around 13% growth at the midpoint. Adjusted EBITDA is expected to range from $61 million to $66 million, or roughly 19% growth at the midpoint.
Sfadia added, “With a solid balance sheet and over $183 million in net cash, we are continually exploring additional growth opportunities and potential targets.”