Following third-quarter financial results that held flat compared to the prior year, Gilat Satellite Networks sharply reduced its full-year 2026 revenue growth forecast from 13% to 3%.
In quarterly results reported on Nov. 10, the satellite ground segment and networking provider lowered its 2026 revenue guidance to a range of $455 million to $475 million, down from its previous projection of $500 million to $520 million.
Diverging Defense and Commercial Segment Performance
The guidance cut stems from external schedule setbacks across satellite launch manifests and commercial aviation programs. Delays in satellite launches and in-flight connectivity (IFC) equipment deliveries slowed revenue conversion across commercial business lines, weighing on overall top-line expansion despite strong military demand.
For the third quarter, Gilat recorded total revenue of $116 million, remaining flat year over year. Underlying segment performance highlighted a pronounced split between government and enterprise markets: defense revenue surged 53% to approximately $37 million, while commercial revenue declined 4% to roughly $70 million as IFC rollout schedules shifted to the right.
Full-Year Financial Trajectory
With third-quarter top-line performance constrained by launch availability and commercial aviation terminal rollouts, the updated $455 million to $475 million guidance represents a $45 million reduction at the midpoint compared to earlier full-year expectations.
While growing military communications demand continues to expand Gilat’s defense business, near-term consolidated growth remains dependent on the stabilization of satellite launch schedules and the pace of scheduled IFC deliveries across commercial airline fleets.
