Gilat reports second quarter 2024 results

Gilat Q2 2024: Revenue hits USD 76.6M; GAAP operating income down to USD 2.8M

Gilat has announced financial results for Q2 2024.

Revenue jumped 13% to USD 76.6 million in Q2 2024 compared to USD 67.6 million in Q2 2023.

GAAP operating income was USD 2.8 million in Q2 2024, compared to USD 5.4 million in Q2 2023.

GAAP net income was USD 1.3 million in Q2 2024, compared to USD 4.3 million in Q2 2023

Adjusted EBITDA was up 10% to USD 10.1 million in Q2 2024, compared to USD 9.2 million in Q2 2023.

“We are pleased with our results for the second quarter. Our business continues to perform well and we are on track with our expectations for 2024. The pipeline of potential orders throughout our business continues to broaden, supported by our next-generation platform and growth engines. In particular, we are pleased with the solid traction we are experiencing in the growing defense satellite communications segment, a strategic growth vector for us. This is strongly supported by our DataPath subsidiary acquired at the end of last year, which has already proven itself as a successful acquisition and key contributor to our success this quarter,” said Adi Sfadia, Gilat’s CEO.
BCS Bureau