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Investing.com -- Gilat Satellite Networks Ltd (NASDAQ:GILT). (NASDAQ:GILT, TASE:GILT) reported first quarter 2025 results that fell short of analyst expectations, sending shares down 9.5% in early trading.
The satellite networking technology company posted adjusted earnings per share of $0.03, missing the consensus estimate of $0.07. Revenue came in at $92 million, below analyst projections of $94.47 million but up 21% YoY from $76.1 million.
Gilat’s GAAP results swung to a net loss of $6.0 million, or -$0.11 per share, compared to net income of $5.0 million, or $0.09 per diluted share, in Q1 2024. The company attributed the loss primarily to $3.6 million in ramp-up costs for its Gilat Stellar Blu business, as well as amortization and acquisition-related expenses.
Despite the earnings miss, Gilat reiterated its full-year 2025 guidance, projecting revenue between $415 million and $455 million. The midpoint of $435 million aligns with the current analyst consensus of $435.1 million and would represent 42% YoY growth.
"Gilat delivered solid Q1 2025 results, demonstrating strong execution across the company and positive impact from our new organizational structure," said CEO Adi Sfadia. He noted the Gilat Defense segment is experiencing "significant momentum" driven by growing demand for secure communications solutions.
Sfadia added that Gilat’s in-flight connectivity business continues to expand, with its Sidewinder ESA system now flying on over 150 aircraft. The company expects additional orders "very soon" as it develops broader modem compatibility.
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