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    Gilat Satellite Networks Ltd (GILT)

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    Gilat Satellite Networks Ltd. is a global leader in satellite-based broadband communications, specializing in the design and manufacturing of advanced ground-based satellite communication equipment. The company provides secure, end-to-end solutions and services for industries such as commercial, defense, and government sectors. Its offerings include satellite network platforms, high-performance terminals, and integrated communication systems tailored for mission-critical applications.

    1. Satellite Networks - Develops and supplies advanced broadband satellite communication networks, including high-speed Very Small Aperture Terminals (VSATs), on-the-move antennas, and other satellite communication equipment for applications such as in-flight connectivity, cellular backhaul, maritime, defense, and enterprise networks.
    2. Network Infrastructure and Services - Implements large-scale network projects, including terrestrial and satellite network construction and operation, with a focus on telecom operations in regions like Peru.
    3. Integrated Solutions - Provides mission-critical defense and broadcast satellite communication systems, offering products such as high-efficiency Solid State Power Amplifiers (SSPAs), Block Upconverters (BUCs), and transceivers.
    NamePositionExternal RolesShort Bio

    Adi Sfadia

    Executive

    Chief Executive Officer (CEO)

    None

    CEO since November 2020; previously CFO of GILT (2015-2020); extensive financial leadership experience at Starhome, Radvision, and EY Global.

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    Aharon Mullokandov

    Executive

    SVP of Research and Development

    None

    SVP of R&D since May 2022; previously held leadership roles at Allot Communications, Here Mobility, and Servotronix Motion Control.

    Doron Kerbel

    Executive

    General Counsel and Company Secretary

    None

    General Counsel and Company Secretary since September 2022; previously General Counsel at Senstar Technologies and Legal Counsel at Elbit Systems.

    Gil Benyamini

    Executive

    Chief Financial Officer (CFO)

    None

    CFO since February 2022; previously CFO at Panaxia Pharmaceutical Industries, Walla Communications, and Exent Technologies; CPA with extensive financial expertise.

    Gilad Landsberg

    Executive

    Chief Operations Officer (COO)

    None

    COO since June 2023; previously VP at Aeronautics Ltd. and held leadership roles at Rafael Advanced Defense Systems; expertise in industrial and management engineering.

    Hagay Katz

    Executive

    Chief Product and Marketing Officer

    None

    Chief Product and Marketing Officer since August 2021; previously Head of VSAT Line of Business at GILT; led initiatives in Cloud and 5G NTN evolution strategy.

    Lior Moyal

    Executive

    Chief People Officer (CPO)

    None

    CPO since July 2020; joined GILT in 2016; previously Director of HR at Wavestream, GILT's U.S. subsidiary; extensive experience in organizational development.

    Ron Levin

    Executive

    Chief Commercial Officer (CCO)

    None

    CCO since March 2023; previously COO (2021-2023) and VP of Mobility and Global Accounts at GILT; held leadership roles at ECI Telecom and Jungo Software Technologies.

    Roni Stoleru

    Executive

    SVP, Corporate Business Development

    None

    SVP of Corporate Business Development since August 2023; over 24 years at GILT in roles spanning product management, technical marketing, and sales.

    Ami Shafran

    Board

    Director

    Venture Partner at Moneta Capital; Director at Gencell; Chair of Elsight and Security Matters

    Director since January 2021; former Commander of IDF C4I Command; extensive leadership in cybersecurity and defense industries.

    Amir Ofek

    Board

    Director

    CEO of AxoniusX

    Director since June 2023; previously CEO of Alcide IO Ltd. and CyberInt; held leadership roles at Amdocs and Elbit Systems; served as Captain in IDF 8200 Unit.

    Amiram Boehm

    Board

    Chairman of the Board

    Chairman of BrainsWay Ltd.

    Chairman since March 2023; Board member since 2012; previously Partner at FIMI Opportunity Funds and held board roles at multiple companies.

    Aylon (Lonny) Rafaeli

    Board

    Director

    Member of the Board of TALI Education Fund

    Director since May 2016; strategy and business development consultant; involved in veteran associations of IDF elite units.

    Dafna Sharir

    Board

    Director

    Director at Ormat Technologies Inc., Minute Media Inc., and Cognyet Software Ltd.

    Director since May 2016; extensive experience in investments, M&A, and tax law; previously held senior roles at Ampal Corp., Amdocs, and Cravath, Swaine & Moore.

    Elyezer Shkedy

    Board

    Director

    Outside Director at Ashtrom Group Ltd.

    Director since June 2017; former CEO of El-Al Airlines and Commander of the Israeli Air Force; serves on boards of non-profits.

    Ronit Zalman Malach

    Board

    Director

    CFO of Isracard Ltd.

    Director since September 2022; extensive financial leadership experience, including CFO roles at Mekorot and IMI Systems, and board roles at Clalit Health Care and other organizations.

    1. Excluding the impact of the DataPath acquisition, your organic revenue decreased by 10% year-over-year in Q3 2024 ; what are the underlying factors contributing to this decline, and how do you plan to reverse this trend to achieve sustainable organic growth?

    2. Given that DataPath's gross margins are lower than Gilat's average, affecting overall gross margins , what specific measures are you taking to improve DataPath's profitability and align it with the company's margin expectations?

    3. With the termination of your activities in Russia resulting in the loss of approximately $10 million in annual revenue , how do you plan to offset this significant decrease in revenue, and what new markets or opportunities are you targeting to fill this gap?

    4. Considering the delays in obtaining CFIUS approval for the Stellar Blu acquisition , what contingency plans do you have in place if the approval process continues to extend, and how might this impact your revenue projections for 2025?

    5. In the cellular backhaul market, you've noted that projects are shifting to the right with no new big initiatives ; how does this slowdown affect your strategic plans for this segment, and what actions are you taking to reinvigorate growth in this market?

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Stellar Blu Solutions LLC

    2025

    Gilat acquired Stellar Blu Solutions LLC to strengthen its IFC market leadership by enhancing its multi-orbit LEO and GEO solutions, with an initial $98 million cash payment (plus potential earn-out of up to $147 million) funded via a $100 million secured credit line; the deal is expected to boost annual revenues to $120–$150 million and improve EBITDA margins beyond 10% as production scales.

    DataPath, Inc.

    2023

    Gilat acquired DataPath, Inc. to expand its presence in defense communications for the U.S. DoD and government sectors, in a transaction valued up to $45 million (including an earn-out and the assumption of $15 million in debt), which is poised to drive approximately $50 million in additional annual revenue and open new global market opportunities.

    Recent developments and announcements about GILT.

    Earnings

    • New Earnings (Q4 2024)

      ·
      Feb 13, 2025, 6:16 AM

      Strong defense revenue rising from $98M in 2024 to $100M–$110M in 2025 is a standout, fueled by DoD and DataPath synergies. Yet a $10M headwind looms from Russia’s exit. Meanwhile, Stellar Blu’s Q4 ramp (75 units) underscores IFC growth, despite short-term margin pressure.

      View full earnings summary →