Gilat Satellite Networks (GILT) has released an update.
Gilat Satellite Networks Ltd. reported a robust financial performance for Q1 2024, with a significant revenue increase of 29% year-over-year, reaching $76.1 million. Despite a slight decline in GAAP operating income, the company’s adjusted EBITDA rose to $9.3 million, and they reiterated their positive full-year guidance anticipating further growth. The company’s CEO attributes this success to organic growth, strategic acquisitions like Datapath, and a growing demand for their satellite communication solutions.
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