Gilat Satellite Networks secures over $18 million in IFC solution orders, reflecting growing demand for advanced connectivity technology.
Quiver AI Summary
Gilat Satellite Networks Ltd., a leader in satellite networking technology, has announced that it has received over $18 million in orders for its In-Flight Connectivity (IFC) solutions, primarily involving Gilat SkyEdge platforms and related services. The delivery of this equipment and services is expected within the next 12 months, reflecting strong market demand for advanced connectivity solutions in IFC. Gilat’s flexible architecture promises reliable satellite connectivity, essential for the rapid growth of IFC networks. Amir Yafe, VP of Mobility & Global Accounts, highlighted the importance of these orders in addressing the unique needs of the IFC market. Gilat, with over 35 years of experience in satellite communications, offers a wide range of products and tailored solutions for various applications including broadband access, mobility, and defense services.
Potential Positives
- Gilat Satellite Networks has secured over $18 million in orders for IFC solutions, indicating strong demand for its products and services.
- The orders emphasize confidence in Gilat’s advanced technology, particularly the Gilat SkyEdge platforms, which could enhance its market position.
- Delivery of the equipment and services is scheduled within the next 12 months, which may positively impact the company’s revenue and operational outlook.
- The announcement highlights the strategic significance of the IFC market for Gilat, showcasing the company’s commitment to expanding its presence in this growing sector.
Potential Negatives
- Press release emphasizes significant risks and uncertainties associated with Gilat's business, including competition pressure, market acceptance, and geopolitical instability, which could negatively affect future performance.
- Concerns raised about Gilat's inability to retain market share and attract talent, which could hinder its growth and innovation potential.
- Location in Israel highlighted as a risk factor, with implications related to regional conflicts that could impact operations and investor confidence.
FAQ
What recent orders has Gilat Satellite Networks secured?
Gilat has secured over $18 million in orders for its in-flight connectivity (IFC) solutions.
What products are included in the $18 million orders?
The orders mainly include Gilat SkyEdge platforms, related services, and Solid State Power Amplifiers (SSPAs).
How does Gilat's technology support IFC networks?
Gilat’s flexible architecture enables reliable satellite connectivity, supporting rapid expansion in IFC services.
Why is the IFC market significant for Gilat?
The IFC market represents a strategic opportunity for Gilat, reflecting growing demand for advanced connectivity solutions.
What experience does Gilat have in satellite communications?
Gilat has over 35 years of experience as a leading global provider of satellite-based broadband communications.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GILT Hedge Fund Activity
We have seen 36 institutional investors add shares of $GILT stock to their portfolio, and 31 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- THRIVENT FINANCIAL FOR LUTHERANS removed 1,124,000 shares (-100.0%) from their portfolio in Q3 2024
- AWM INVESTMENT COMPANY, INC. added 366,709 shares (+17.1%) to their portfolio in Q3 2024
- WELLINGTON MANAGEMENT GROUP LLP removed 356,928 shares (-19.5%) from their portfolio in Q3 2024
- TWO SIGMA ADVISERS, LP added 198,800 shares (+733.6%) to their portfolio in Q3 2024
- LBP AM SA added 188,800 shares (+inf%) to their portfolio in Q3 2024
- ASSENAGON ASSET MANAGEMENT S.A. removed 173,659 shares (-100.0%) from their portfolio in Q3 2024
- TWO SIGMA INVESTMENTS, LP added 156,294 shares (+295.7%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
PETAH TIKVA, Israel, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions, and services, announced today that the Company has secured over $18 million in orders for IFC solutions. These orders are mainly for Gilat SkyEdge platforms, related services and SSPAs. The equipment and services are scheduled for delivery within the next 12 months.
These orders highlight the confidence in Gilat’s advanced technology and solutions to address the unique challenges and opportunities in IFC services. Gilat’s flexible architecture enables reliable satellite connectivity, supporting the rapid expansion of IFC networks.
"These orders reflect the growing demand for advanced connectivity solutions for the IFC market, which is a strategic market for us," said Amir Yafe, VP of Mobility & Global Accounts at Gilat. "Gilat’s technology is designed to equip service providers with the scalability and performance needed to meet this demand head-on."
About Gilat
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With over 35 years of experience, we create and deliver deep technology solutions for satellite, ground, and new space connectivity and provide comprehensive, secure end-to-end solutions and services for mission-critical operations, powered by our innovative technology. We believe in the right of all people to be connected and are united in our resolution to provide communication solutions to all reaches of the world.
Our portfolio includes a diverse offering to deliver high-value solutions for multiple orbit constellations with very high throughput satellites (VHTS) and software-defined satellites (SDS). Our offering is comprised of a cloud-based platform and high-performance satellite terminals; high-performance Satellite On-the-Move (SOTM) antennas; highly efficient, high-power Solid State Power Amplifiers (SSPA) and Block Upconverters (BUC) and includes integrated ground systems for commercial and defense, field services, network management software, and cybersecurity services.
Gilat’s comprehensive offering supports multiple applications with a full portfolio of products and tailored solutions to address key applications including broadband access, mobility, cellular backhaul, enterprise, defense, aerospace, broadcast, government, and critical infrastructure clients all while meeting the most stringent service level requirements. For more information, please visit:
http://www.gilat.com
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat’s products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat’s products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company’s proprietary technology and risks associated with Gilat’s international operations and its location in Israel, including those related to the war and hostilities between Israel and Hamas and the general instability in the region. For additional information regarding these and other risks and uncertainties associated with Gilat’s business, reference is made to Gilat’s reports filed from time to time with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements for any reason.
Contact:
Gilat Satellite Networks
Hagay Katz, Chief Products and Marketing Officer
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