Gilat Wins $23M Multi-Year Contract to Support STT Units for U.S. DoD

Gilat Satellite Networks Ltd. GILT announced that its defense division, Gilat Defense, has been awarded a significant contract to provide sustainment and support services for Satellite Transportable Terminal (STT) units used by the U.S. Department of Defense (DoD). The deal, which covers a base program with extension options for up to five years, is valued at up to $23 million.As part of the agreement, Gilat Defense will be responsible for delivering comprehensive program management, field services and technical support to ensure that the STT units remain fully operational and reliable across global deployments.Gilat Satellite Networks Ltd. Price and Consensus Gilat Satellite Networks Ltd. price-consensus-chart | Gilat Satellite Networks Ltd. QuoteManagement stated that the contract highlights the critical role of Gilat’s SATCOM systems in supporting the U.S. DoD’s worldwide operations and reaffirmed the company’s commitment to delivering exceptional performance and service to its defense partners around the globe.As military forces worldwide shift toward next-generation satellite communication technologies, the global defense SATCOM market is set for robust growth. Gilat, with its extensive experience in satellite networking and strong dedication to serving defense agencies, is well-equipped to seize these emerging opportunities. Through ongoing investments in secure, reliable and high-performance SATCOM solutions, the company is poised to broaden its reach and influence within the global military communications sector.Recently, the company announced a new $6 million contract for its SkyEdge II-c satellite communications platform. The deal, awarded by a military organization in the Asia-Pacific region, solidifies Gilat’s market position in delivering highly secure, resilient and advanced satellite communications solutions for mission-critical defense operations. The contract highlights Gilat’s expanding footprint in the defense sector as the company continues to provide robust SATCOM solutions that enable military forces to operate efficiently across the diverse and challenging backdrop.Defense Deals Boost Gilat’s Growth PathBased in Petah Tikva, Israel, GILT is a top provider of satellite-based broadband services, including designing and manufacturing advanced equipment and innovative technology. Gilat’s solutions support a range of applications, including broadband access, cellular backhaul, enterprise services, In-Flight Connectivity (IFC), maritime, trains, defense and public safety, all while meeting high service standards. Strength in the defense sector bodes well for Gilat, especially as demand for defense SATCOM solutions grows due to NGSO expansion and geopolitical events.In February 2025, GILT announced the formation of its new Defense Division to address the increasing demand for secure government and military SATCOM solutions. Gilat Defense unifies the expertise of Gilat, Gilat DataPath and Gilat Wavestream under one umbrella to deliver end-to-end, mission-critical SATCOM solutions for military, homeland security and government agencies. In January 2025, GILT announced that its wholly owned U.S.-based subsidiary, Gilat DataPath, secured contracts exceeding $5 million. These deals, awarded by the DoD and various international defense forces, involve DKET terminals and Field Service Representative (FSR) support.In the last reported quarter, the company’s net sales reached $78.1 million, up 3% from a year ago, driven by steady traction in the defense and IFC sectors, with a higher volume of orders and awards. Management projects 2025 revenues between $415 million and $455 million, with adjusted EBITDA expected to range from $47 million to $53 million.As part of its growth strategy, Gilat has restructured its organization effective Jan. 1, 2025. It will present financial results under three categories - Gilat Defense, Gilat Commercial and Gilat Peru. The new structure improves focus on key markets and gives investors better insight into Gilat’s business and growth opportunities.Gilat’s Zacks Rank & Stock Price PerformanceGILT currently carries a Zacks Rank #2 (Buy). Shares of the company have soared 14.2% in the past six months against the Zacks Satellite and Communication industry's decline of 10.1%.Image Source: Zacks Investment ResearchOther Key Picks From the Computer and Technology SpaceSome other top-ranked stocks from the broader technology space are Unity Software Inc. U, Iridium Communications Inc. IRDM and SAP SAP. U sports a Zacks Rank #1, while IRDM and SAP carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.Unity Software’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 65.52%. In the last reported quarter, U delivered an earnings surprise of 14.29%. The company’s long-term earnings growth rate is 5.7%. Its shares have lost 18.2% in the past six months.Iridium’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 35.22%. 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