# EDGAR Filing Document

**Accession Number:** 0000897322
**File Stem:** 0001178913-25-002648
**Filing Date:** 2025-8
**Character Count:** 29444
**Document Hash:** eeae4e1ff1e05c1879f9c1942b84594f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001178913-25-002648.hdr.sgml**: 20250806

**ACCESSION NUMBER**: 0001178913-25-002648

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250806

**FILED AS OF DATE**: 20250806

**DATE AS OF CHANGE**: 20250806

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GILAT SATELLITE NETWORKS LTD
- **CENTRAL INDEX KEY:** 0000897322
- **STANDARD INDUSTRIAL CLASSIFICATION:** RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-21218
- **FILM NUMBER:** 251187370

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GILAT SATELLITE NETWORKS INC
- **STREET 2:** 1651 OLD MEADOW RD
- **CITY:** MCLEAN
- **STATE:** VA
- **ZIP:** 22102
- **BUSINESS PHONE:** 7037349401

**MAIL ADDRESS:**
- **STREET 1:** GILAT HOUSE YEGIA KAPAYIM STREET
- **STREET 2:** DANIV PARK
- **CITY:** KIRYAT ARYE PETAH TI
- **STATE:** L3
- **ZIP:** 00000

------

****

<br> ### FORM 6 – K

### SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Report on Foreign Issuer

Pursuant to Rule 13a – 16 or 15d – 16

of the Securities Exchange Act of 1934

For the Month of August, 2025

### Gilat Satellite Networks Ltd
(Translation of Registrant's Name into English)

Gilat House, Yegia Kapayim Street

Daniv Park, Kiryat Arye, Petah Tikva, Israel

(Address of Principal Corporate Offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No ☒<br>

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): <u>N/A</u>

 

<br> ------

On August 6, 2025, the Registrant issued a press release announcing its unaudited second-quarter 2025 results. A copy of this press release is furnished herewith.

The attached press release is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

------

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
|  | Gilat Satellite Networks Ltd. |
|  | (Registrant) |
| Dated August 6, 2025 | By: <u>/s/ Doron Kerbel</u> |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Doron Kerbel |
|  | &nbsp;&nbsp;&nbsp;&nbsp; General Counsel & Corporate Secretary |

---

------

![](image00003.jpg)

### Gilat Reports Second Quarter 2025 Results
*Revenues Increased by 37%; GAAP Operating Income of $5.7 Million;* 

*Adjusted EBITDA of $11.8 Million*

*Raises Midpoint of 2025 Revenue and EBITDA Guidance*

**Petah Tikva, Israel, August 6, 2025** — Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, today reported its results for the second quarter, ended June 30, 2025.

#### Second Quarter 2025 Financial Highlights
• **Revenues** of $105 million, up 37% compared with $76.6 million in Q2 2024;

• **GAAP operating income** of $5.7 million, compared with GAAP operating income of $2.8 million in Q2 2024;

• **Non-GAAP operating income** of $9.3 million, compared with $7.3 million in Q2 2024;

• **GAAP net income** of $9.8 million, or $0.17 per diluted share, compared with GAAP net income of $1.3 million, or $0.02 per diluted share, in Q2 2024;

• **Non-GAAP net income** of $12 million, or $0.21 per diluted share, compared with $5.6 million, or $0.10 per diluted share, in Q2 2024;

• **Adjusted EBITDA** of $11.8 million, compared with $10.1 million in Q2 2024, which includes a loss of about $1.5 million from Gilat Stellar Blu's ramp up process. Adjusted EBITDA, excluding such loss, was $13.3 million.

------

#### Forward-Looking Expectations
On the strength of our results year-to-date, improved visibility and business momentum, management now expects revenue for 2025 between $435 million and $455 million, representing a higher revenue growth rate of approximately 46% at the midpoint. Previously management had expected revenue for 2025 between $415 million and $455 million, for a 42% growth rate at the midpoint .

Adjusted EBITDA for 2025 is now expected to be between $50 million and $53 million for a higher growth rate of approximately 22% at the midpoint, compared to the previous guidance for EBITDA to be between $47 million and $53 million.

#### Management Commentary
**Adi Sfadia, Gilat's CEO, commented:** "Gilat's second quarter results were strong, demonstrating momentum across our growth engines and successful execution of our growth strategy. Gilat Defense is extending its reach by leveraging top-line synergies between Gilat and DataPath and offering a broader range of solutions to defense customers in the U.S. and among its allies. With a unified structure enabling faster response to customers' mission needs and innovation across our portfolio, we are well-positioned to meet growing global demand driven by geopolitical tension and shifting budget priorities in favor of satellite communications."

**Mr. Sfadia added,** "Our Commercial Division achieved a milestone quarter, driven by strong bookings, strategic wins, and accelerating adoption of our next-generation SkyEdge IV platform. The industry's shift toward virtualized, cloud-native networks marks a significant advancement in satellite communications infrastructure and elevates Gilat's positioning with higher value and improved margins, providing the option to sell through a PaaS model. Stellar Blu continued to ramp up production, deliver Sidewinder ESA terminals to customers in commercial and business aviation markets, and build its backlog of orders. Currently, there are approximately 225 aircraft flying with the Gilat antenna, demonstrating excellent results and throughput. Gilat Peru also achieved an outstanding quarter, highlighted by new orders from Pronatel."

**Mr. Sfadia concluded**, "These achievements and advancements strengthen our leadership in multi-orbit ground solutions and the emerging IFC market. We remain strategically positioned to accelerate revenue growth as we capture the expanding opportunities in mission-critical defense communications and next-generation satellite solutions."

#### Key Recent Announcements
• Gilat Awarded Over $8 Million from Israel's Ministry of Defense for Strategic Defense Communication Solutions

• Gilat Awarded Approximately $60 Million to Provide Digital Inclusion Solutions in Peru

• Gilat Awarded More Than $7 Million to Provide the U.S. Army With Services in Support of Mission-Critical Communications

• Gilat Awarded Over $22 Million in Orders from Tier One Satellite Operators

• Gilat Secures $27 Million for Gilat's Stellar Blu Portfolio

• Gilat Signs a $40 Million Contract for Virtualized SkyEdge IV Platform

• Gilat Receives Over $25 Million in Orders for its Multi-Orbit Satellite Solutions

------

#### Conference Call Details
Gilat's management will discuss its second quarter 2025 results and business achievements and participate in a question-and-answer session:

Date:<br> Wednesday, August 6, 2025 <br>Start: 09:30 AM EST / 16:30 IST

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>

A simultaneous webcast of the conference call will be available through this link: <u>https://www.veidan-conferencing.com/gilat</u>

Or Dial-in:<br> US: 1-888-407-2553 <br>International: +972-3-918-0609

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

The webcast will also be archived for a period of 30 days on the Company's website https://www.gilat.com and through the link above.

#### Non-GAAP Measures
The attached unaudited summary consolidated financial statements were prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). To supplement the summary consolidated financial statements presented in accordance with GAAP, the Company presents non-GAAP measurements of gross profit, operating expenses, operating income, income before taxes on income, net income, Adjusted EBITDA, and earnings per share. The adjustments to the Company's GAAP results are made with the intent of providing both management and investors with a more complete understanding of the Company's underlying operational results, trends, and performance. Non-GAAP financial measures mainly exclude, if and when applicable, the effect of stock-based compensation, amortization of purchased intangibles, lease incentive amortization, other non-recurring expenses, other integration expenses, other operating expenses (income), net, and income tax effect on the relevant adjustments.

Adjusted EBITDA is presented to compare the Company's performance to that of prior periods and evaluate the Company's financial and operating results on a consistent basis from period to period. The Company also believes this measure, when viewed in combination with the Company's financial results prepared in accordance with GAAP, provides useful information to investors to evaluate ongoing operating results and trends. Adjusted EBITDA, however, should not be considered as an alternative to operating income or net income for the period and may not be indicative of the historic operating results of the Company; nor is it meant to be predictive of potential future results. Adjusted EBITDA is not a measure of financial performance under GAAP and may not be comparable to other similarly titled measures for other companies. Reconciliation between the Company's net income and adjusted EBITDA is presented in the attached summary consolidated financial statements.

Non-GAAP presentations of gross profit, operating expenses, operating income, income before taxes on income, net income, adjusted EBITDA and earnings per share should not be considered in isolation or as a substitute for any of the consolidated statements of operations prepared in accordance with GAAP, or as an indication of Gilat's operating performance or liquidity.

------

#### About Gilat

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: <u>www.gilat.com</u>

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 hostilities between Israel and Hamas. 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

<u>hagayk@gilat.com</u>

Alliance Advisors

GilatIR@allianceadvisors.com

Phone: +1 212 838 3777

![](image00004.jpg)

------

---

| |
|:---|
| **GILAT SATELLITE NETWORKS LTD.** |
| **CONSOLIDATED STATEMENTS OF INCOME** |
| **U.S. dollars in thousands (except share and per share data)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** | **Six months ended** | **Three months ended** | **Three months ended** |
|  | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** |
| Revenues | $197007 | $152709 | $104970 | $76631 |
| Cost of revenues | 136682 | 98082 | 73043 | 50058 |
| **Gross profit** | **60325** | **54627** | **31927** | **26573** |
| Research and development expenses, net | 23930 | 18547 | 12309 | 9228 |
| Selling and marketing expenses | 16467 | 14109 | 8265 | 7032 |
| General and administrative expenses | 13027 | 14514 | 6243 | 6437 |
| Other operating expenses (income), net | 3964 | (725) | (574) | 1085 |
| **Total operating expenses** | **57388** | **46445** | **26243** | **23782** |
| **Operating income** | **2937** | **8182** | **5684** | **2791** |
| Financial income (expenses), net | (2186) | 779 | (1250) | 266 |
| **Income before taxes on income** | **751** | **8961** | **4434** | **3057** |
| Taxes on income | 3083 | (2695) | 5396 | (1755) |
| **Net income** | $**3834** | $**6266** | $**9830** | $**1302** |
| **Earnings per share (basic and diluted)** | $0.07 | $0.11 | $0.17 | $0.02 |
| **Weighted average number of shares used in** | **Weighted average number of shares used in** |  |  |  |
| &nbsp;&nbsp;&nbsp; **computing earnings per share** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Basic | **57081120** | **57016808** | **57124568** | **57017032** |
| &nbsp;&nbsp;&nbsp; Diluted | **57189406** | **57016808** | **57341141** | **57017032** |

---

------

---

| |
|:---|
| **GILAT SATELLITE NETWORKS LTD.** |
| **RECONCILIATION BETWEEN GAAP AND NON-GAAP CONSOLIDATED STATEMENTS OF INCOME** |
| **FOR COMPARATIVE PURPOSES** |
| **U.S. dollars in thousands (except share and per share data)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** | **Three months ended** |
|  | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
|  | **GAAP** | **Adjustments (\*)** | **Non-GAAP** | **GAAP** | **Adjustments (\*)** | **Non-GAAP** |
|  | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** |
| Gross profit | $31927 | 2557 | $34484 | $26573 | 1617 | $28190 |
| Operating expenses | 26243 | (1043) | 25200 | 23782 | (2914) | 20868 |
| Operating income | 5684 | 3600 | 9284 | 2791 | 4531 | 7322 |
| Income before taxes on income | 4434 | 3600 | 8034 | 3057 | 4531 | 7588 |
| Net income | $**9830** | 2131 | $**11961** | $**1302** | 4253 | $**5555** |
| Earnings per share (basic and diluted) | $**0.17** | $0.04 | $0.21 | $0.02 | $0.08 | $0.10 |
| Weighted average number of shares used in | Weighted average number of shares used in |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; computing earnings per share | &nbsp;&nbsp;&nbsp; computing earnings per share |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic | 57124568 |  | 57124568 | 57017032 |  | 57017032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted | 57341141 |  | 58041043 | 57017032 |  | 57017032 |

---

(\*)Adjustments reflect the effect of stock-based compensation as per ASC 718, amortization of purchased intangibles, other operating expenses (income), net, other non-recurring expenses, other integration expenses and income tax effect on such adjustments which is calculated using the relevant effective tax rate.<br>

---

| | | |
|:---|:---|:---|
|  | **Three months ended** | **Three months ended** |
|  | **June 30, 2025** | **June 30, 2024** |
|  | **Unaudited** | **Unaudited** |
| GAAP net income | $9830 | $1302 |
| Gross profit |  |  |
| Stock-based compensation expenses | 228 | 150 |
| Amortization of purchased intangibles | 2302 | 920 |
| Other non-recurring expenses | - | 466 |
| Other integration expenses | 27 | 81 |
|  | 2557 | 1617 |
| Operating expenses |  |  |
| Stock-based compensation expenses | 1084 | 705 |
| Stock-based compensation related to business combination | (920) | 842 |
| Amortization of purchased intangibles | 1269 | 267 |
| Other operating expenses (income), net | (574) | 1085 |
| Other integration expenses | 184 | 15 |
|  | 1043 | 2914 |
| Taxes on income | (1469) | (278) |
| Non-GAAP net income | $11961 | $5555 |

---

------

---

| |
|:---|
| **GILAT SATELLITE NETWORKS LTD.** |
| **RECONCILIATION BETWEEN GAAP AND NON-GAAP CONSOLIDATED STATEMENTS OF INCOME** |
| **FOR COMPARATIVE PURPOSES** |
| **U.S. dollars in thousands (except share and per share data)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Six months ended** | **Six months ended** | **Six months ended** | **Six months ended** | **Six months ended** | **Six months ended** |
|  | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
|  | **GAAP** | **Adjustments (\*)** | **Non-GAAP** | **GAAP** | **Adjustments (\*)** | **Non-GAAP** |
|  | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** |
| Gross profit | $60325 | 3368 | $63693 | $54627 | 2343 | $56970 |
| Operating expenses | 57388 | (8132) | 49256 | 46445 | (3413) | 43032 |
| Operating income | 2937 | 11500 | 14437 | 8182 | 5756 | 13938 |
| Income before taxes on income | 751 | 11500 | 12251 | 8961 | 5756 | 14717 |
| Net income | **3834** | 9954 | **13788** | **6266** | 5303 | **11569** |
| Earnings per share (basic and diluted) | $**0.07** | $0.17 | $0.24 | $0.11 | $0.09 | $0.20 |
| Weighted average number of shares used in |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; computing earnings per share |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic | 57081120 |  | 57081120 | 57016808 |  | 57016808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted | 57189406 |  | 58023137 | 57016808 |  | 57062883 |

---

(\*)Adjustments reflect the effect of stock-based compensation as per ASC 718, amortization of purchased intangibles, other operating expenses (income), net, other non-recurring expenses, other integration expenses and income tax effect on such adjustments which is calculated using the relevant effective tax rate.<br>

---

| | | |
|:---|:---|:---|
|  | **Six months ended** | |
|  | **June 30, 2025** | |
|  | **Unaudited** | **Six months ended**<br> **June 30, 2024**<br>**Unaudited** |
| GAAP net income | $3834 | $6266 |
| Gross profit |  |  |
| Stock-based compensation expenses | 402 | 300 |
| Amortization of purchased intangibles | 2902 | 1427 |
| Other non-recurring expenses | - | 466 |
| Other integration expenses | 64 | 150 |
|  | 3368 | 2343 |
| Operating expenses |  |  |
| Stock-based compensation expenses | 1984 | 1422 |
| Stock-based compensation related to business combination | (313) | 2166 |
| Amortization of purchased intangibles | 2153 | 524 |
| Other operating expenses (income), net | 3964 | (725) |
| Other integration expenses | 344 | 26 |
|  | 8132 | 3413 |
| Taxes on income | (1546) | (453) |
| Non-GAAP net income | $13788 | $11569 |

---

------

---

| |
|:---|
| **GILAT SATELLITE NETWORKS LTD.** |
| **SUPPLEMENTAL INFORMATION** |
| **U.S. dollars in thousands** |

---

**ADJUSTED EBITDA:**<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** | **Six months ended** | **Three months ended** | **Three months ended** |
|  | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** |
| GAAP net income | $3834 | $6266 | $9830 | $1302 |
| Adjustments: |  |  |  |  |
| Financial expenses (income), net | 2186 | (779) | 1250 | (266) |
| Taxes on income | (3083) | 2695 | (5396) | 1755 |
| Stock-based compensation expenses | 2386 | 1722 | 1312 | 855 |
| Stock-based compensation related to business combination | (313) | 2166 | (920) | 842 |
| Depreciation and amortization (\*) | 10046 | 7443 | 6084 | 3963 |
| Other operating expenses (income), net | 3964 | (725) | (574) | 1085 |
| Other non-recurring expenses | - | 466 | - | 466 |
| Other integration expenses | 408 | 176 | 211 | 96 |
| Adjusted EBITDA | $19428 | $19430 | $11797 | $10098 |

---

(\*) Including amortization of lease incentive<br>

**SEGMENT REVENUES:**<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** | **Six months ended** | **Three months ended** | **Three months ended** |
|  | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** |
| Commercial | $133277 | $84593 | $69057 | $43400 |
| Defense | 43004 | 37404 | 19993 | 20174 |
| Peru | 20726 | 30712 | 15920 | 13057 |
| **Total revenues** | $**197007** | $**152709** | $**104970** | $**76631** |

---

------

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| |
|:---|
| **GILAT SATELLITE NETWORKS LTD.** |
| **CONSOLIDATED BALANCE SHEETS** |
| **U.S. dollars in thousands** |

---

---

| | | |
|:---|:---|:---|
|  | **June 30,**<br> **2025** | **December 31,**<br>**2024** |
|  | **Unaudited** | **Audited** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **ASSETS** |  |  |
| **CURRENT ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp; Cash and cash equivalents | $64929 | $119384 |
| &nbsp;&nbsp;&nbsp; Restricted cash | 474 | 853 |
| &nbsp;&nbsp;&nbsp; Trade receivables, net | 53162 | 49600 |
| &nbsp;&nbsp;&nbsp; Contract assets | 8603 | 24941 |
| &nbsp;&nbsp;&nbsp; Inventories | 48737 | 38890 |
| &nbsp;&nbsp;&nbsp; Other current assets | 45498 | 21963 |
| &nbsp;&nbsp;&nbsp; **Total current assets** | 221403 | 255631 |
| **LONG-TERM ASSETS:** |  |  |
| &nbsp;&nbsp;&nbsp; Restricted cash | 14 | 12 |
| &nbsp;&nbsp;&nbsp; Long-term contract assets | 7890 | 8146 |
| &nbsp;&nbsp;&nbsp; Severance pay funds | 6544 | 5966 |
| &nbsp;&nbsp;&nbsp; Deferred taxes | 16129 | 11896 |
| &nbsp;&nbsp;&nbsp; Operating lease right-of-use assets | 5980 | 6556 |
| &nbsp;&nbsp;&nbsp; Other long-term assets | 18043 | 5288 |
| &nbsp;&nbsp;&nbsp; **Total long-term assets** | 54600 | 37864 |
| **PROPERTY AND EQUIPMENT, NET** | 70480 | 70834 |
| **INTANGIBLE ASSETS, NET** | 61689 | 12925 |
| **GOODWILL** | 167706 | 52494 |
| **<u>TOTAL ASSETS</u>** | $575878 | $429748 |

---

------

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| |
|:---|
| **GILAT SATELLITE NETWORKS LTD.** |
| **CONSOLIDATED BALANCE SHEETS (Cont.)** |
| **U.S. dollars in thousands** |

---

---

| | | |
|:---|:---|:---|
|  | **June 30,**<br> **2025** | **December 31,**<br>**2024** |
|  | **Unaudited** | **Audited** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| **CURRENT LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp; Current maturities of long-term loan | $3375 | $- |
| &nbsp;&nbsp;&nbsp; Trade payables | 18541 | 17107 |
| &nbsp;&nbsp;&nbsp; Accrued expenses | 46295 | 45368 |
| &nbsp;&nbsp;&nbsp; Advances from customers and deferred revenues | 57464 | 18587 |
| &nbsp;&nbsp;&nbsp; Operating lease liabilities | 2919 | 2557 |
| &nbsp;&nbsp;&nbsp; Other current liabilities | 18621 | 17817 |
| &nbsp;&nbsp;&nbsp; **Total current liabilities** | 147215 | 101436 |
| **LONG-TERM LIABILITIES:** |  |  |
| &nbsp;&nbsp;&nbsp; Long-term loans | 56497 | 2000 |
| &nbsp;&nbsp;&nbsp; Accrued severance pay | 7179 | 6677 |
| &nbsp;&nbsp;&nbsp; Long-term advances from customers and deferred revenues | 25 | 580 |
| &nbsp;&nbsp;&nbsp; Operating lease liabilities | 3229 | 4014 |
| &nbsp;&nbsp;&nbsp; Other long-term liabilities | 45971 | 10606 |
| &nbsp;&nbsp;&nbsp; **Total long-term liabilities** | 112901 | 23877 |
| **SHAREHOLDERS' EQUITY:** |  |  |
| &nbsp;&nbsp;&nbsp; Share capital - ordinary shares of NIS 0.2 par value | 2743 | 2733 |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital | 947500 | 943294 |
| &nbsp;&nbsp;&nbsp; Accumulated other comprehensive loss | (2843) | (6120) |
| &nbsp;&nbsp;&nbsp; Accumulated deficit | (631638) | (635472) |
| &nbsp;&nbsp;&nbsp; **Total shareholders' equity** | 315762 | 304435 |
| **<u>TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY</u>** | $575878 | $429748 |

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| |
|:---|
| **GILAT SATELLITE NETWORKS LTD.** |
| **CONSOLIDATED STATEMENTS OF CASH FLOWS** |
| **U.S. dollars in thousands** |

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Six months ended** | **Six months ended** | **Three months ended** | **Three months ended** |
|  | **June 30,** | **June 30,** | **June 30,** | **June 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
|  | **Unaudited** | **Unaudited** | **Unaudited** | **Unaudited** |
| **<u>Cash flows from operating activities:</u>** |  |  |  |  |
| **Net income** | $3834 | $6266 | $9830 | $1302 |
| **Adjustments required to reconcile net income** |  |  |  |  |
| **to net cash provided by (used in) operating activities:** | **to net cash provided by (used in) operating activities:** |  |  |  |
| Depreciation and amortization | 9942 | 7333 | 6037 | 3908 |
| Stock-based compensation expenses | 2073 | 3888 | 392 | 1697 |
| Accrued severance pay, net | (76) | 60 | (54) | 115 |
| Deferred taxes, net | (4233) | 1724 | (6217) | 1273 |
| Increase in trade receivables, net | (9234) | (17734) | (13762) | (8937) |
| Decrease (increase) in contract assets | 16552 | 2982 | 24350 | (3266) |
| Decrease (increase) in other assets and other adjustments (including short-term, long-term and effect of exchange rate changes on cash, cash equivalents and restricted cash)<br>| 11754 | 5512 | (6636) | 2005 |
| Decrease in inventories | 96 | 974 | 11552 | 4167 |
| Increase (decrease) in trade payables | (14690) | 3579 | (6862) | 4245 |
| Decrease in accrued expenses | (4587) | (2229) | 1771 | (989) |
| Decrease in advances from customers and deferred revenues | (15426) | (9486) | (14330) | (6732) |
| Increase (decrease) in other liabilities | 2526 | (2177) | (928) | (2316) |
| **Net cash provided by (used in) operating activities** | **(1469)** | **692** | **5143** | **(3528)** |
| **<u>Cash flows from investing activities:</u>** |  |  |  |  |
| Purchase of property, equipment and intangible assets | (4256) | (2650) | (2766) | (1857) |
| Investment in other asset | (3500) | - | (1000) | - |
| Acquisitions of subsidiary, net of cash acquired | (104943) | - | - | - |
| **Net cash used in investing activities** | **(112699)** | **(2650)** | **(3766)** | **(1857)** |
| **<u>Cash flows from financing activities:</u>** |  |  |  |  |
| Repayment of credit facility, net | - | (7453) | - | (4709) |
| Repayment of short-term debts | - | (1340) | - | (1340) |
| Proceeds from short-term debts | - | 1469 | - | 1469 |
| Proceeds from long-term loan, net of associated costs | 58970 | - | - | - |
| Repayment of long-term loan | (750) | - | (750) | - |
| **Net cash provided by (used in) financing activities** | **58220** | **(7324)** | **(750)** | **(4580)** |
| **Effect of exchange rate changes on cash, cash equivalents and restricted cash** | **1116** | **(718)** | **524** | **(450)** |
| **Increase (decrease) in cash, cash equivalents and restricted cash** | **(54832)** | **(10000)** | **1151** | **(10415)** |
| **Cash, cash equivalents and restricted cash at the beginning of the period** | **120249** | **104751** | **64266** | **105166** |
| **Cash, cash equivalents and restricted cash at the end of the period** | $**65417** | $**94751** | $**65417** | $**94751** |

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