William Blair downgrades Gilat Satellite Networks to Market Perform from Outperform

Gilat Satellite (GILT) reported Q3 2026 revenue of $116.2M, down slightly YoY, but adjusted EBITDA rose 13% to $17.6M. Defense revenue grew 53% YoY, while Commercial revenue declined. The company updated its full-year guidance, expecting revenue of $455M-$475M and adjusted EBITDA of $61M-$63M. Gilat also announced a pending acquisition of Comtech's Satellite and Space business, expected to add $180M in revenue and $80M in adjusted EBITDA, pending regulatory approval.

Gilat Satellite Networks reported Q3 2026 earnings with 13% EBITDA growth, driven by Defense segment's 53% revenue growth. Commercial revenue declined due to delays and competition. The company lowered full-year revenue guidance to $455M-$475M and adjusted EBITDA guidance to $61M-$63M. It expects to close the Comtech acquisition by year-end, adding $180M in revenue and $80M in adjusted EBITDA.

William Blair downgraded Gilat Satellite Networks (GILT) to Market Perform from Outperform due to reduced revenue and EBITDA guidance. The stock is near its 52-week low, down 61% over six months. Competition from Starlink and market share losses were cited. Q3 2026 revenue was $116.2M, missing estimates, but adjusted EBITDA rose 13%. Gilat maintains a solid balance sheet and expects aviation orders in early 2027.

Gilat Satellite Networks (GILT) reported Q3 2026 revenue of $116.2M, down 1% YoY but below expectations. Defense revenue surged 53%, while commercial revenue declined 4%. Adjusted EBITDA rose 13% to $17.6M. The company cut full-year revenue guidance to $455M-$475M due to satellite launch delays. The stock fell 19% post-earnings.

Gilat Satellite Networks (GILT) reported Q3 2026 adjusted earnings of $0.18 per share, beating estimates, but revenue fell 1% to $116.2M, missing expectations. Shares dropped 12.80% premarket. The company revised full-year revenue guidance down to $455M-$475M, citing project delays. Defense segment revenue grew 53%, and adjusted EBITDA rose 13%. The Comtech acquisition is expected to close by year-end.

Gilat Satellite Networks (GILT) stock fell 17.6% in pre-market trading after Q3 2026 revenue of $116.2M missed estimates by $10M. The company cited delivery delays, bad-debt write-offs, and currency headwinds. Adjusted EPS beat estimates, and adjusted EBITDA rose 13% YoY. The company revised full-year revenue guidance to $455M-$475M and expects to close its acquisition of Comtech by year-end.