EL7.AI
StocksMedium•10 November 2026•
3 min read

Gilat Cuts 2026 Revenue Outlook to $455–475 Million After Project Delays

Key Facts

12026 revenue guidance fell to $455–475 million, and adjusted EBITDA guidance to $61–63 million.
2Third-quarter revenue was $116.2 million, compared with $117.7 million a year earlier.
3Adjusted EBITDA rose 13% to $17.6 million.
4The stock fell 17.6% in premarket trading on November 10, 2026.

Gilat Satellite Networks cut its 2026 revenue outlook to a range of $455 million to $475 million, after maintaining a forecast of $500 million to $520 million on August 5. The company said delays in developing and launching LEO and GEO satellites, rescheduled deliveries of in-flight connectivity equipment, and the timing of agreements in Peru shifted some expected revenue to 2027. Management estimated adjusted EBITDA for 2026 at $61 million to $63 million, compared with a previous range of $61 million to $66 million. Gilat announced the figures with its third-quarter results, which its management was scheduled to discuss on a call on November 10, 2026. Investing.com reported that the stock fell 17.6% in premarket trading that day.

Third-quarter revenue was $116.2 million, compared with $117.7 million in the same period of 2025. Adjusted EBITDA, meanwhile, rose 13% to $17.6 million from $15.6 million a year earlier. The margin on this measure widened to 15% from 13% in the third quarter of 2025. Net income under the non-GAAP measure was also $14.3 million, or $0.18 per diluted share, versus $11.8 million and $0.19 per share a year earlier. The results show improved adjusted profitability despite a year-on-year decline in quarterly revenue.

Gilat attributed some order delays to continued delays in developing and launching low Earth orbit and geostationary orbit satellites, saying a shortage of launch options contributed. The company said these delays pushed back the timing of some network equipment orders. In Peru, the company signed an agreement at the end of the third quarter after it had been expected to sign during the first half of 2026, Investing.com reported, citing the earnings call. The company said the timing of the agreement shifted related revenue to 2027. These factors add to the rescheduling of in-flight connectivity equipment deliveries, which the company cited among the reasons for revising its outlook.

By segment, Gilat said defense revenue increased 53% year on year in the third quarter, describing the segment's performance as continuing to gain momentum. It added that the completion of the Comtech deal is expected by year-end, subject to closing conditions being met. Following completion of the deal, the company expects defense revenue to more than double in 2027. At the same time, management noted that vertically integrated LEO providers are gaining market share from traditional GEO providers. Cash, cash equivalents and short-term deposits totaled $260 million on September 30, 2026, compared with $159 million on June 30, including net proceeds of approximately $99 million from a $100 million convertible bond issue during the third quarter.