Gilat Satellite Networks announced a multi-million dollar order from a European Ministry of Defense for custom SATCOM terminals with delivery expected over the next 12 months. The award demonstrates growing European defense demand for Gilat's resilient, multi-orbit communications solutions and reinforces the company's expanding role in mission-critical defense applications.

Comtech Telecommunications (CMTL) shares fell 11.04% on Wednesday following the announcement of plans to sell most of its Satellite and Space Communications segment to Gilat Satellite Networks (GILT) for $157.5 million. The company will receive approximately $143-145 million in net proceeds to reduce debt. Despite beating earnings estimates on loss per share, Comtech missed revenue expectations and reported a widened operating loss, though it maintained positive operating cash flow for the fifth consecutive quarter.

Comtech Telecom agreed to sell most of its Satellite and Space Communications segment to Gilat Satellite Networks for $157.5 million. The transaction is expected to close in Q4 2026. Comtech reported fiscal Q3 results beating earnings estimates with an adjusted loss of 22 cents per share versus expected 27 cents, though revenue missed expectations at $106.0 million versus $110.2 million. The company plans to use net proceeds of $143-145 million to reduce debt and focus on its public safety technology business.

Gilat Satellite Networks has agreed to acquire Comtech Telecommunications' Satellite & Space Communications segment for $157.5 million in cash. The transformative deal is expected to create a company with over $700 million in projected annual revenue, more than doubling Gilat Defense's revenue. The acquisition adds satellite ground infrastructure capabilities, Troposcatter BLOS communications, and expands access to U.S. defense agencies and space customers. Closing is expected by end of 2026, subject to regulatory approvals.

The satellite internet market is expected to grow rapidly, driven by the proliferation of satellite constellations, government initiatives to expand rural connectivity, and technological advancements reducing service costs and improving user experience.

Gilat Satellite Networks reported a 21% year-over-year increase in Q1 revenue, but it fell short of analyst expectations. The company reiterated its 2025 revenue and adjusted EBITDA guidance, expecting a record year despite the revenue shortfall.

The tech sector has faced challenges this year, but there may still be opportunities in beaten-down tech stocks with strong analyst ratings and compelling valuations.

Gilat Satellite Networks, a leading provider of satellite-based communications solutions, has received $4 million in orders for its advanced portable satellite terminals from global defense customers. The orders are for the company's CCT200, CCT120, and QCT90 terminals, which are known for their robust performance and rugged design, making them suitable for harsh operational environments.

Gilat Satellite Networks, a leading provider of satellite-based communications solutions, has been awarded over $5 million in contracts from the US Department of Defense and international defense forces to deliver DKET terminals and provide field service support.

Gilat Satellite Networks and Hispasat quickly provided additional satellite network capacity to support disaster recovery efforts by Southern Linc after Hurricane Helene, enabling critical services to remain operational.

The satellite communication market is expected to grow significantly, driven by the increasing demand for reliable internet connectivity, particularly in remote and underserved areas. The services segment is projected to experience the highest growth, with a CAGR of 12.5% during the forecast period.

Gilat Satellite Networks has completed the acquisition of Stellar Blu Solutions, a leading provider of next-generation SATCOM terminal solutions. The acquisition is expected to add $120-150 million in annual revenues for Gilat in 2025 and be accretive to its non-GAAP results.