GILT - Earnings call transcript Q2 2024 | Gilat Satellite Networks Ltd.

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to Gilat's Second Quarter 2021 Results Conference Call. All participants are at present in listen-only mode.

Following management's formal presentation, instructions will be given for the question-and-answer session. [Operator's Instructions] As a reminder, this conference is being recorded, August 7, 2024. have the should press you now, all company's received release. By

begin, XXXX you please have EK Relations Relations. Investor XXX www.gilat.com. in I not hand company's you of like the of contact like news at view Helft, please? section the Mr. received XXX would Investor If Helft website, Global call Investor it, Gilat's to Global the Ehud it to Relations. at Relations +X would to now or over team Mr.

Mr. Ehud Helft

under involve and More to about differ factors statements in materially including Thank filed XX Quarter Exchange may operator. deemed future All events forward-looking disclaim obligation days. earnings good that, in may statements Securities please obligation results Securities Webcast. the with website explicitly Commission. for earnings everyone. Conference found as call a a actual you, noon call not Also, morning, the control Good any which the information Gilat's afternoon, me update no or information, such to approximately time of is of result cause to today these and investors these so. otherwise, at that this beyond XXXX. Eastern do reminder the Thank forward-looking and is statements, us whether statements webcast of Litigation note turn from of introductions. contingencies, within which the joining Gilat's and today, will read to Private on Reform are for be let you beginning that be X, results. financial reports period Act risks, be and A are a Call forward-looking facts future statements, XXXX Gilat's of statements new urged With the operating forward-looking are for recording can of to Gilat's meaning release company a available with detailed regarding or of results, uncertainties Second many Results that Gilat historical Gilat alter and August anticipated

call to please. the Gil Gilat's over Adi On would Benyamini, turn Adi go call are today Adi and now CEO; Sfadia. Mr. like the ahead, CFO. Sfadia to I Mr.

Adi Sfadia

Thank Thank us of second XXXX you you, day. and for good our joining call. today for earnings quarter

good The second was primarily This quarter following was DataPath. revenue momentum Gilat with which contribution significant to of strong of business year-over-year the XXXX we for a showed the in quarter our acquisition due defense a in growth.

the ahead. We expect in quarters this continue strong to momentum

market. our the more about deep connectivity The potential major in Blu of fourth acquisition Gilat. business Stellar of year-over-year, announced first the significant due customers I additional create discuss strategic Blu antenna has so want delivering of adjusted In diligence, we potential and looking the with the growth step at to and its synergies to I'm why and on deal all for to Gilat. potential before many another million. steerable infrastructure. the acquisition Solutions, this Stellar detail. the long-term key new quarter, took deal This this Most electronically leader a of financial by culuminated aspects our unlock IFC for in The existing excited strategic market, acquisition for But of this a the company, in-flight is elements was months revenue potential ability significant why In Gilat's of and that, carries closing EBITDA acquisition increase XX% and the acquisition the Gil and of during achievement will track addition, exceeding the quarter minute, a $XX discuss year. second around importantly, the expected market of beginning to

multi-orbit ISA side a first terminal terminal market. delivering customers. more products the completed qualification the units can Blu to We this Stellar line a I vision have recently, of Just winter that a started for suite broaden to share with the has certification its aero on comprehensive company and IFC type product supplemental the

expect $XXX second million XXXX revenues target accretive be capacity Furthermore, such, between above to results. Blu reaches margin our XXXX, Blu we that in to of its during As $XXX Stellar add XX%. will in estimate Stellar we once non-GAAP to be million EBITDA manufacturing and the its half

and Blu between look offering QX set This a I longer explode Stellar team its will closing close. XXXX. this $XX to can Stellar the team, for $XX that forward leader aviation is strategy. of adjacent to In go-to-market acquisition the years Assuming and the Stellar its we Gilat Gilat we other position markets. at a portfolio leverage believe I to will to be of million high-growth for QX, Blu's million coming into welcoming market the Blu's technology a leadership, happen the beginning years. am revenues we I as market in its estimate to in ESA confident term, transform acquisition come, once to in into large believe we company can Overall, us

we outlook, reiterating to the year for contribution in Blu gave earlier provide we XXXX guidance are in we February from once updated note close XXXX. guidance Stellar Blu would this the Stellar for the we will that account XXXX. acquisition, I As

increasing number very of the is satellite Intercept continue and we networks review market quarter and to edge orders business expand platforms their that satellite XXXX. of application to we enable to among global lead throughput as wide SatCom the to from of range a maritime, the the high dollar our This by networks driven with include Gilat's range deliver Gilat Sky field-proven constellations applications and including MEO of VHTS of satellite a their business wider non-geostationary SCS services partners, In awarded million the growing LEO, we and operators Recently, innovative multiple expand market, grow our Now of Solutions company over satellite operators, which $X was in-flight connectivity, the Gilat's announced and cumulative the and by from demand the for land orders users. in multimillion let's strategic utilizing mainly GEO, a will the operators solutions. satellite, the follow-on that NGSO from move flexibility deliver Empower and others. Gilat OCB industry-first enabling and quarter, with services is mobility, SCS to its scale. Also unparalleled mPOWER cellular the Scratch OSB backhaul, system via announced enterprise platform. constellation software-driven multi-orbit services Sky and MEO-GEO services during SES second more. launched

increased the Our bearing market fruits. already is on defense focus

East of global of teams sales awarded also Department and globally. we technical projects new satellite technical contracts proven benefit agencies. field control transportable international announced was government the to extensions million DataPath revenues we to were anywhere rapid communication of awarded our and next-generation and support U.S. of is technology that Robison flexibility, and manpower. locations. DataPath organization growth, During States quarter, we of worldwide. services of secure, in announced several the support defense connectivity, the received upgrade include $X for DataPath hubs. orders DataPath. tactical end ticket $X into in satellite in capacity, to consolidating network minimal various communities emission QX deliver and Dicaterminal that and reliable required full both defense industry Robinson to support quarter and over agencies users operation DataPath recently DataPath from sector and requirements. deployability driving multiyear critical deploying These Defense second service managing contract Wavestream. organizations, Ms. to other national DataPath from and new under of businesses their communication over the operational satcom multi-band and services deploying has and second remote demanding with from the an a segment. President record Furthermore, establish Middle defense in and been U.S. network is United to connectivity the service support participating appointed orders million needed contract Nicole partners network in connectivity also defense program the executive Europe, with delivered field a Decoterminals

X communication throughout order world. subsidiaries terminal global micro solid-state sold from Wavestream a for military a Tier terminals the one In U.S.-based the for of stream addition, amplifier power military our satellite significant to U.S. received provider

progress demonstrating developing and more year-over We customers more solid more adding growth, great in sector, verticals. continue the mobility make supporting products, to

we for the customers for quarter, and integrators $XX and million products Amplify growing solutions. second company's and IFC products. the new aviation. in demonstrate received the the and over commercial orders During market in existing includes system partnership providers service network from auxiliary leadership additional This These prominent up, from and business Solidor IFC several orders position IFC VSATs, recruitment,

of faster million IFC that our Ka $XX connectivity. expansion initiative, In During the which will Peru, this than allow will be growth planned initiative are the SES part for open in progressing its this the networks region in Amazonas Orbis optimistic implementing we I'm global market. announced significant project. use of quarter,

finish to implementation expect before year. end the this of We the expansion the of

In X to the during currently process, Amazonas acceptance third the quarter. phase completion Ponte expect project of addition, in follows to which the This region regions move underway. the operational we in the of is the

allow Para During the to the Peruvian bringing consortium a the divide and Telefonica to large for Peru. of the are quarter, across initiative from resonate under Latin digital access as areas will areas. to high-speed the few backhaul million several geographically several complex in global comprised well Todos Gilat -- Peru, in collaborative terrestrial and America RFPs Facebook in next Furthermore, project people from to of to IPT months. model geographic as rural we received over in over overcome a Meta would connectivity and additional services that extensions. of is IPT deliver This the progress we $XX rural X includes to rural connectivity the government expecting million maturity sustainable follow-on living Internet areas. several orders provide more bridge obstacles in

very the the very second the for are year. the valuable rest pipeline To We quarter in pleased been conclude, Gilat. of Peru has with for strong

strong set a Gilat Our engine and the a it market business. will coming results for has Esa acquisition we to market explode second significant am Solutions DataPath defense quarter us -- for of potential our our been the the and believe include growth years. pleased which be in in leader momentum Aviation the has I of is acquisition as that to establish contribution Blu of our with Stella

support defense. with including lead which our platform, of mobility, applications, verticals the ferrule backhaul IV, our to strategic SkyEdge next-generation markets orbits, continue multiple We and and

particularly SCS OBMpower of to our the service proud are We launch. contribution

we open IFC initiative. business the quarter, including expanding orbits second the SCS During aviation, significant our and progress commercial made in footprint into

will We CFO. strong have coming that, deals materialization of the I important hand Benyamini, over With months. a our Gil a and over pipeline expect to

Gil Benyamini

We understand, basis. operating to everyone. our understand day use financial Good to believe compensation other and GAAP non-GAAP exclude to deferred tax manage stock-based Adi. applicable, lease that purchased reconciliation would supplemental our current results and The performance. other evaluate adjustments. Non-GAAP both exclude the these non-GAAP net non-GAAP make information you, are highlights effect income release financial I nonrecurring operating internally Thank and and business on decisions. expenses, expenses, to help financial measures mainly like relevant table amortization, regularly tax noncash income financial data, press of the measures items. remind provide assets, presented and operating amortization consistent our and of comparable in our this effect presented other and our future expenses, investors of to measures We non-GAAP these that integration onetime measures and when if changes incentive intangibles, everyone on

but expected the are backlog. an post months of its be existing XX Blu financial and The further the of These and which initial the engaging the new focus future the would and respectively. growth product ISA consideration to totaled you on the XXXX existing upon its between Before the to and with build the expectations moving Part markets plans both information of within conditioned on execute is the beyond totals near envision with the agreements And customer of XX strategic consideration in X financial Parts deliver would well with ability accelerated million backlog, level Blu structured earnout, $XX in outlook and a at is, the X the for of areas: margin. in less continue platform, for components both customers. both Stella as million a to like be significantly acquisition X conditions, successfully to resources margins, to to of that X closing our years company which beyond will and X $XXX Blu specific terminals, $XX I that additional up that service covers of for the and a to existing deliver to review Parts $XXX to X grounds and main and an ensuring revenues incentives more we market within opportunity provide highlights, number earn-out, $XX upon the million of from deal. is equivalent working or its more applied multi-orbit The proven with financed growth combined These million bank with and earn-outs orders enhanced support agreement. maintain agreements at and deal Blu's providers than future paid million. as agreed for Stellar Stellar strong of additional for ramp X This capital. Stellar great internal loan, new all purchase to up line higher margins, not with IFC the signing if mobility due from to is requires signing new offerings, provide market. brings less the production

pass adjusted We XXXX. QX was This reported by EBITDA our of current in XX% for growth mentioned, we million, acquisition are second last this ahead. Overall, year-over-year Adi Adi now start was financial -- to I that pleased As with will the reached earlier, of highlights mainly quarter our XX% a the over move to a acquisition XXXX. data very of for believe growth XX% of our high-growth a recent and margin gross mentioned years company as strong we year. Gilat $XX.X non-GAAP revenue. driven transforms

We are ahead, later. for our our XXXX, optimistic which and reiterated guidance I'll in prospects quarters the we cover about

the our second than financial million. Revenue was last improvement In higher terms in for by quarter driven detail. those second quarter of segment. results which more XX% in network were the of growth $XX.X was of The year, million, satellite $XX.X

last 'XX year. of to revenues Infrastructure lower the revenues the both 'XX results. second 'XX Integrated Satellite same QX $XX.X Services GAAP Networks quarter revenues million to QX to was last million Solutions in to the the of $XX And and million I the was quarter. $XX.X last quarter The the breakdown in revenue million same were would segment services of segment year. revenue million $XX.X $XX.X the In in compared & non-GAAP quarter, of summarize terms decrease now quarter compared $XX.X by like million this segment, year. Network our to were due our segment QX compared same

million, compared last year. expenses in was with due and versus last same offset the acquisition quarter quarter margin Our $XX.X last favorable to GAAP associated XX.X% partially of Gilat QX backlog average to mix assets of depreciation services This the lower a GAAP margin, for the compared were and product gross the XX.X% are current reduction million QX operating than margin XX gross to our the The intangible year. was in mainly due the 'XX year. of to $X.X an DataPath. of QX gross the a increase in quarter DataPath in was which same

we in $X.XX last last $X.X the million earnings amortization of million to intangibles or This is are million of this second and expenses. the impact purchased $X.X same share share. $X.X income quarter compared per of year. $X.X numbers. net was in for last the second million we quarter $X.XX compared that have net the income the I have to same year. included in impacts quarter the or GAAP GAAP quarter, GAAP per quarter of operating diluted also the only million a income of operational in $X.X related This is diluted the quarter have year. quarter, approximately acquisition-related we expenses didn't GAAP of which DataPath, other to in note This

Moving to results. the non-GAAP

'XX the Our gross in was last same margin non-GAAP quarter year. compared in QX XX.X% to XX.X%

in the for last $XX.X consolidation expenses. share due per per As of year. same margin $X.XX to last year, Adjusted net operating to the with million income I in increase for quarter of operating in compared the $X.X million quarter the same lower an $X.X compared due to earnings the the the $X.X compared quarter million, of compared average. quarter mentioned $X.X $XX.X million same XX% diluted to improved EBITDA with This in same million share were earlier, of million to quarter or last is this mainly quarter the 'XX year. with quarter Non-GAAP adjusted last primarily EBITDA million was of income Non-GAAP in in last improved difference compared $XX.X the Non-GAAP $X.XX. year. $X.X million or earnings is DataPath's of gross diluted expenses QX DataPath's to

Moving to the balance sheet.

total XX, 'XX. of $XX.X As cash March short-term compared with debt XX, and of million of compared our XX as and June to June on net increase equivalents million million restricted $XX.X cash were $XX.X

$X.X during In to of cash inflow we changes quarter million the terms an flow, of in by activities next we cash operating used the expect second quarter. working operating in 'XX capital, due

this loans made $X.X and our higher previous XX of project a range were than This construction up Peru quarter. XX which was days. DSOs, in to net is KPI network excludes normal revenues also days. repayment of XX terrestrial million DSO, days quarter's We of in receivable of which our

Our the with compared March to $XXX $XXX at 'XX shareholders' million of end XX, million XX. as June increased of equity

the Looking year. ahead, we reiterate for our guidance

Operator, questions. I take concludes representing financial open and million the expectations EBITDA revenue to the growth year-over-year $XXX at million, of please. That to we'll call the of $XXX review. million adjusted remain $XX be Our now income XX% for to year-over-year operating GAAP $XX at between $XX $XX to my between million of of midpoint. like million and XX% representing to million, happy your midpoint. growth would between of

Operator

first & Ryan question Koontz of Company. is from Instructions] The Needham [Operator's

Ryan Koontz

DataPath. view on maybe your just the is cross-selling you of what Can

in I remarks, tension within a type that capture some commentary that 'XX know opportunity. the working was. and on more sattelite was your comment update You you us I prepared didn't that? of made something I on can think, quite you're Maybe

Adi Sfadia

equipment to goes Indeed, DataPath Gilat's the DoD sell equipment, bring the and cross-selling Gilat abuse equipment They both to ways. it into worldwide. DataPath

progressing. are We

We are see be from worldwide. optimistic. much and we'll thought of days, more agencies promoting honest, see with potential we equipment starting are we some data the To to These year have first a we more the both dialogue than at past signing. DoD

order DataPath. is million And that pipeline and announce awards was collaboration hope that able that, received than that to a $XX developing. several is first last Other Wavestream a we'll there between The It's quarter. I soon. we be

Ryan Koontz

Great. That sense. makes a lot of

business, there the On progressing it with sounds about should margin How you're there outlook post the think Amazonia the customer infrastructure we approval of like your region? approvals. gross

Adi Sfadia

So usually, the a phase construction operation part this lower service that with is of margin than business. gross or associated

So gross the all year. almost or this this it the by this to of we the naturally, margin push year. finish next expect of higher be to segment will up of construction And end

Ryan Koontz

on progress the perspective? if And And the do where general. you months next should your customer-specific or think how they're mix market, great. the Obviously, to your begun That's investors LEO that How OneWeb you wonder current could market launch. commercial their anecdotes over developing share in about has Gilat's business market? XX from any see relative I LEO of

Adi Sfadia

the got Constellation on So business most gateways. power up until for segment the LEO today, to relates solid-state we amplifiers of

on from but our perspective now, segment, and in Right also very see big which LEO allowed includes this large are players opportunities the networks, are the with we to segment. we name names, We SSPA, working not antennas. modems X

Square, a One and LEO one constellation. the them GenX other launch is European is to one is initiative we Iris which of

large that in them are believe should -- coming eligible take expect soon and so. RFIs, the RFPs participate are and launch because the We we they expect we Iris, of the in answered X Europe. decision finalists we quarter the and to we or a a I have X -- to in OneWeb, we operation

business. driven the a In see LEO that lot addition, side of IFC what it's we on

main in capacity, acquisition. and motivation of is bought of OneWeb business rationale For the antenna, especially the it IFC, example, the from electronic part steel Intersat the a Blu will for drive stellar and in lot which

to to a forgot got ago, the lot to development that a Satcom over few I the expecting Direct it think year of So antenna that in we award are also also from summarize, constellation LEO we the one there. quarters. I related coming mention business with that about

aviation We OneWeb. over are terminal developing an ESA for business

with in And seeing So are business. X very they for all, opportunities, all significant Gilat. nice very are we the

Ryan Koontz

It like should Great great. a there. and the with production getting That's as stellar on we update What follow-up you're Stellar what tracking view biggest execution that what greatest on on backlog, there? as that the of your do with And you a it's are really key capacity the challenges Blu? challenges milestones on just the just going Blu think sounds matter the of terrific here? comments.

Adi Sfadia

much more It's production. the a initial next up $XXX And execution since upgrade million gave we $XXX million name still So have ramping moving the And I confident can the to midst execution and is from Stellar for the we $XXX customers, year forecast development preliminary, we the already of not indeed, best midst unit is in phase. to they million to in even now million. guidance. Blu from to always the of course, $XXX delivery to first the that of a bit game. delivered today, of phase share certifications

orders, execute think main the to company challenges of I as are bring and those X every Stellar Blue. that more

Ryan Koontz

there it. in any Or you're with chain terms Got in challenges ramping process. the supply kind of ramp things, terms with sorts sourcing? regards new of challenges there And that to through more is are of and real of production it these products

Adi Sfadia

It's the time. at there issues. when new a within on see we challenges It's unique introduction something don't beginning, chain with the which Blu. just usually to It's a specific No, new Stellar the every company, any supply ramping is up that including are not into product line. market, launched product manufacturing takes we Gilat

Operator

The next question Space. is Quilty of from Quilty Chris

Christopher Quilty

results. nice think I

well, process. is the chain but touch and on question, sounds on the up that manufacturing supply like going can last STC follow the a it Just you maybe

mention it? made And you do you partners or happened but I progress leading on did is SDCs,airframes? at there, Blu how are working broadly internally who targeting that effort think that Stellar you have you

Adi Sfadia

of responsibility think a that it's certifications, any Recently, halting It's deliveries. only on they of The we to track. as Blu progressing production and units customers, it we Stellar and Stellar deliver see not combination thing is the got Blu it's I ramping more several per month. and expected. announced starting And up and

Now we are units talking few a month. per about

we next more Soon, are tens hopefully, second by XXX we'll of than the year, And units. half about talking units of be deliver able to month. per

Christopher Quilty

last Great. versus gave quarter? us kind growth some of you contribution path Can or breakdown organic that you data growth. of keeping questions quarter, the the share acquired this

Gil Benyamini

Yes, sure.

timing DataPath. mentioned, quarter, from this growth So If was as on basis, look I And came it the plus a a was On I expected. X% remind quarterly the X-month of organic most X%. we basis, negative as like growth or deliveries of everyone right longer due a a a that to to period we shift the might analyze of bit Gilat quarterly specific left. kind to on that but not analysis the to on basis,

are generally, track. So on we

Christopher Quilty

Great. And and obviously. the consistent Stellar for in DataPath reported excluding is should amortization with a go-forward expect quarter, we now the rolled run in what the rate is Blu, basis that on

Gil Benyamini

Yes.

X I as there $X.X general, this it's per my that Usually, might are, number. components in affect script, this million I So Q in say, would said in about quarter.

by share due the in payment Gilat is part the amortization the also fact is price net income is of shares. to or the at First of affected that end the day

down. up may it or fluctuate So

backlog, is to second part over of amortization associated that amortized thing up is usually the which with XX months. is The

in will next So of you expect XX drop this million $X.X be months middle can closing, a which year. around after

Adi Sfadia

XXth schedule there a the in the think is of I amortization.

Gil Benyamini

wouldn't the cover in price. Yes. be. share change But it Should the

Christopher Quilty

you backlog, we aviation Boeing what terms pipeline And seeing relative U.S. of deliveries. order factors? of I'll market, the you are in outlook? continuing on you company so it Or specific? late in market, not mentioned not We're dealing a resolution Data to any are expectations? impacting Right. and your provide -- deal in don't with the And overall macro in this there I with know are more trends excluding backlog, those year the the dealing ask, but defense Are we're factors and and just is any your Path,

Adi Sfadia

most see the in we and and a SES the do what through networks not the we to cases, at our Wavestream expectations. guidance. satellite at lot momentum defense, of haven't with data you that path space the in deal changed But the forecast, tied But initiative. Gilat in track means also overall, are we company through strong it's see only open specific. of do if headwinds and is In on Gilat. the blended We our That Intersat look

Christopher Quilty

do Is large orders. Great. you pick might the reasons correct And up market so ago of feels of I discrete bit a really on were bit. see backhaul with It running year the that a specific hot, perception? like And market any cellular little market, a lot to that opportunities you think a or that for sort has down slowed a

Adi Sfadia

Based don't $XXX in a Yes, X bit than trend. market, that or around million We on it's think cover who I $XXX this expects on slower everyone a backward Stellar from was the agree grow so. industry. the will the the analysts that think million last we tonne quarter in it's one-off But today a years to usual. $XXX market million,

So pipeline. expectation. same see nice We a we share the

will return. will -- that do in it years lot starting we of to XG The see come. XG growth significant really drive We opportunities. a hope see So to

Christopher Quilty

new that Sky the Or is is XG fully platform edge compatible? for me, of. remind And a

Adi Sfadia

is handset, Sky than XXX SCS second together and megabit No. with of you The more the about edge a together quarter on remind Sky is per one the I which XG Empower. India, largest compatible. that demonstrate Indian with fully ago, we SES in into operators, the

latency, So are tell. speed we perspective from a already and

this not operator handset, get to up the no per Of us. to the but course, one to is XXX second will up megabit

Christopher Quilty

any don't update you a an AM that the are to up there? Hughes market Gilat question a product on as do call project is coming market that you -- Obviously, we what of that the opportunity with has size jet what guys have into that for think relative blu? just had compatible So you What And Gilat have business for you Direct. follow-up OneWeb that talked And is ESA. come about product ESA sort with Satcom ESA? like? the that with to Stellar looking ,A

Adi Sfadia

terminal. that of them its see the see are than and with family. And cases, I Usually, ESA service The side. usually, But market. a all, give several more now. lower in potential. with on own I players know room a very into a is over end, terminal. what that We is grow. has see each right you this In BA market our So getting that the their lot every to unique working ESA players at is the provider first there think cooperating there one aviation we general, is HNS take, for or called terminal. solutions business large But of it's with are Gogo one

Christopher Quilty

distribution they business? Got you. international DataPath still it exposure question And have sales products? of Or angle, Or clearly, here. overwhelmingly market look within had and the to U.S. based? And those you're projects? I some guess but the marketing channel some overseas does for do move of that take you and the was maybe for historically opportunity, at those final that investment defense have you in sales working sort Gilat When

Adi Sfadia

of channels we those now can foot direct So of the business business. on ground DataPath accelerate the internationally. think and the on historically, have increase countries. some in They especially they in countries, XX% about Asian worldwide, or has and we where the penetration was some Europe, give Gilat work that take But

America double potential in U.S. We Database a and I in that there Asia the is places. are already opportunities to some seeing in Latin revenues, internationally. And both and think in and other

Operator

Karger The next Discovery of Gunther from is question Group.

Gunther Karger

question. for you Thank the Yes.

the the I'm postal new Regarding serve recent the aviation on there acquisition matingbetween about transport of communications, air shutdown communications. the out suffers traffic that starting on talking shutdown, commercial because opportunity control communications market. and will in Is operational upcoming and aircraft get any between. the to system

Adi Sfadia

the Our terminals passengers. serves

traffic built Of the a and can not crew, it's in communication a have also way serve course, between they the but secure code. control to the

something use work, not equipment, for if try they doesn't emergency that Of our can but course, it's that. built and

Gunther Karger

system, could which there we've an be like the problem enormous seems completing had. is before opportunity It

Adi Sfadia

definitely It's opportunity.

reviewing on we're definitely trying now commitment are But something to engine, when to to focus the markets and customers. going future it's right We we explore. our adjacent that delivering growth

Operator

from is Capital. of Serge Brokers Freedom question next The Luciano

Serge Luciano

moment, do a Stellar you I them and have XXXX, questions and figures. I'm least one round maybe couple of rate a expect Blu. margins of more In just wondering are earlier growth after what next at regarding this

Adi Sfadia

at we the $XX of now -- once I QX, The we Stellar can XXXX that of Blu be revenues said between million year, to the half will are we only earlier between be expect its is million reaches that XXXX, to second right capacity to figures be revenues beginning closed we share $XXX between And and Blu expect we assuming sorry, what above $XXX Stellar expect EBITDA. to on million. them million XX% revenues milestone the at $XX

Gunther Karger

to for sale percentage situation time R&D R&D of stable line, will such second some as quarters. next a there acquisition? amount the In of operational or or need Gilat later The the will be is expense decrease

Adi Sfadia

cost some to There's a which to portion changed R&D, classified so equipment is comparing bit R&D quarter. due to the the of in NRE sold fluctuation projects. of and last consumption of and goods So on

a fluctuate bit. might it So

not affects to this than Another but some is thing were which higher. extent, that materially R&D higher quarter grant, last quarter,

this in all, the to for R&D reason is a all decrease bit. So

Serge Luciano

mentioned, And was finally, as a it minute so ago.

What could had EPS, do XXXX we education. family PSR would XXXX in the build be the relation or of products? We by have it already think ASA how fact. the replaced And portfolio and business

Adi Sfadia

separate Those X are projects.

intention the technology. keep is... specific of and it plan as customers, replace we is own for its one to designed neither no to Each have We

Operator

like questions Instructions] There time. at make are would statement? to no Mr. Benyamini, you this [Operator's further concluding a

Gil Benyamini

Thank day. Yes. for to and thank soon you call. a for you much, or you. very We attention. time see I our great call and hope to joining on you want speak us in and this to next you Thank have your all

Operator

Gilat's for Quarter XXXX This you. Call. Results concludes Second Conference participation. Thank your you Thank

go may ahead You and disconnect.

Gilat Satellite Networks (GILT) 7 Aug 242024 Q2 Earnings call transcript