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    Omri Efroni • Oppenheimer & Co. Inc.

    Omri Efroni's questions to Gilat Satellite Networks Ltd (GILT) leadership

    Omri Efroni's questions to Gilat Satellite Networks Ltd (GILT) leadership • Q2 2025

    Question

    Omri Efroni of Oppenheimer & Co. Inc. sought confirmation that the full-year guidance for Stellar Blue remains intact and requested more details on demand trends within the defense division, particularly from the Israeli Ministry of Defense and Europe.

    Answer

    CEO Adi Sfadia confirmed the Stellar Blue guidance of $120M-$150M in revenue is unchanged, with an expectation for positive EBITDA in the second half of the year as cost-reduction initiatives progress. For the defense segment, he described strong global interest, ongoing proof-of-concept demos, and investments in sales and new products. He also noted continued business from Israel and the US, with more awards anticipated.

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    Omri Efroni's questions to Gilat Satellite Networks Ltd (GILT) leadership • Q1 2025

    Question

    Omri Efroni sought clarification on the Stellar Blu acquisition, asking if the Boeing line-fit certification was part of the earn-out agreement and how Stellar Blu's current profitability impacts the earn-out payment schedule.

    Answer

    CEO Adi Sfadia clarified that the specific Boeing technical service agreement is not part of the earn-out, as it was signed prior to the acquisition. He explained that while they are satisfied with production progress, the first earn-out is not currently on track for payment due to lower-than-required delivery volumes and higher initial costs, though the team is working to meet the targets. The second earn-out, based on new orders, remains on track.

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