Gilat Satellite Networks Ltd. reported its unaudited results for the fourth quarter and full year ended December 31, 2024.
Fourth Quarter 2024 Financial Highlights
- Revenue of $78.1 million, up 3% compared with $75.6 million in Q4 2023;
- GAAP operating income of $12.8 million, compared with $2.9 million in Q4 2023;
- Non-GAAP operating income of $9.7 million, compared with $6.1 million in Q4 2023;
- GAAP net income of $11.8 million, or $0.21 per diluted share, compared with $3.4 million, or $0.06 per diluted share, in Q4 2023;
- Non-GAAP net income of $8.5 million, or $0.15 per diluted share, compared with $6.5 million, or $0.11 per diluted share, in Q4 2023;
Adjusted EBITDA of $12.1 million, up 30% compared with $9.4 million in Q4 2023.
Full year 2024 Financial Highlights
- Revenue of $305.4 million, up 15% compared with $266.1 million in 2023;
- GAAP operating income of $27.7 million, compared with $28.1 million in 2023;
- Non-GAAP operating income of $31.9 million, up 35% compared with $23.5 million in 2023;
- GAAP net income of $24.8 million, or $0.44 per diluted share, compared with $23.5 million, or $0.41 per diluted share in 2023;
- Non-GAAP net income of $28.2 million, or $0.49 per diluted share, compared with $19.9 million, or $0.35 per diluted share 2023;
- Adjusted EBITDA was $42.2 million, up 16% compared with adjusted EBITDA of $36.4 million in 2023.
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