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Gilat Gilat Reports Strong Results in Second Quarter 2021 Revenue is up 49 % year - over - year and 27 % sequentially with a return to Non - GAAP profitability GILAT PRESS RELEASE Petah Tikva , Israel - August 10 , 2021 – 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 of 2021 . Second Quarter Financial Highlights Revenues of $ 56.9 million , a 49 % increase from $ 38.3 million in Q2 2020 and up 27 % from $ 44.7 million in the previous quarter . GAAP operating loss of $ 0.3 million , an improvement compared with an operating loss of $ 3.5 million in Q2 2020 and an operating loss of $ 3.7 million in Q1 2021 . ● ● Non - GAAP operating income of $ 0.2 million , compared with an operating loss of $ 2.6 million in Q2 2020 and an operating loss of $ 3.8 million in the previous quarter . GAAP net loss of $ 0.1 million , or zero per share , compared with a net loss of $ 4.2 million , or a loss of $ 0.08 per share in Q2 2020 and a net loss of $ 5.1 million , or a loss of $ 0.09 per share in the previous quarter . Non - GAAP net income of $ 0.4 million , which is $ 0.01 per share , compared with a net loss of $ 3.3 million , or a loss of $ 0.06 per share in Q2 2020 , and compared with a net loss of $ 5.2 million , or a loss of $ 0.09 per share , in the previous quarter . Adjusted EBITDA of $ 2.5 million compared with adjusted EBITDA of $ 0.1 million in Q2 2020 ; and an adjusted EBITDA loss of $ 1.4 million in the previous quarter . Management Commentary Adi Sfadia , Gilat's CEO , commented : “ I am very pleased with the improvement in our second quarter results which showed very strong revenue growth and a return to Non - GAAP profitability . " We are experiencing strong business momentum in nearly all our end markets and have secured several significant awards . In our Mobility segment we solidified our leadership position in maritime with a multi - million - dollar award from SES , and our leading position in NGSO with orders for more than $ 15 million from a leading satellite operator for support of a Low Earth Orbit Constellation . Very importantly , we are most pleased with the rapid growth in our Defense segment in which we secured deals for over $ 10 million in Asia , Latin America and the US . " Further to the many opportunities we see ahead of us , we continue investing heavily in our R & D efforts in order to capture these opportunities and accelerate our future growth . Given the improving momentum and strong backlog , we expect to continue with our high revenue and Page 1 GILAT SATELLITE NETWORKS Press Release | T +972 3 925 2000 | info@gilat.com | www.gilat.com