Gilat Satellite Networks Ltd. · NASDAQ:GILT
Gilat Satellite Networks — Investor Presentation (February 2024)
21 slides from Gilat Satellite Networks's investor presentation, February 2024
Slide 1: Gilat Satellite Networks Investors Presentation
Gilat Satellite Networks Investors Presentation February 2024 Gilat Proprietary and Confidential
Slide 2: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words “estimate”, “project”, “intend”, “expect”, “believe” and similar expressions are intended to identify
Slide 3: A World Leader in Satellite Communications
A World Leader in Satellite Communications Innovative Ground Equipment Cel elllul ular ar Backhaul Aero / IFC 2G 3G 4G 5G Telecom Inf nfrrastructure Maritime & Serv Servic ices es Gov ove ernmen entt Land ~1,200 Employees 7 R&D Centers Ente Ent erp rpris rise e Defense 1987 Founded 3 NOC Centers 16
Slide 4: Leading Global Customer Base
Leading Global Customer Base Satellite Operators mPOWER Service Providers & MNO’s 100+ Countries 300+ Customers Hundreds of Networks System Integrators Gilat Proprietary and Confidential 4
Slide 5: Value Chain
Value Chain Satellite Manufacturer Satellite Operator Ground Equipment Service Provider End Users Gilat Proprietary and Confidential 5
Slide 6: Uniquely Positioned to Unlock Growth Opportunities
Uniquely Positioned to Unlock Growth Opportunities 1 2 3 VHTS & NGSO Strong Peru Terrestrial Networks Constellations - Tailwinds "Investment" Shifting to Abundance of Capacity in Defense Operation IFC, Maritime, Cellular Backhaul, Increased focus on military Recurring revenue model Enterprise, Socia
Slide 7: VHTS/NGSO Constellations - Abundance of Capacity
VHTS/NGSO Constellations - Abundance of Capacity Large Capital Spending in Satellite Industry Total Addressable Market ($M) GEO 4,500 35,786 km 4,000 ~550msec HTS/VHTS 3,500 3,000 2,500 MEO 2,000 2,000-10,000 km SES/O3B 1,500 ~120msec 1,000 500 0 LEO 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Slide 8: SkyEdge IV – Industry Leading Ground Platform
SkyEdge IV – Industry Leading Ground Platform For VHTS & Multi Orbit Constellations Land Mobility Aviation Broadband Defense IoT Maritime Enterprise Cellular The Satellite Operators Choice Gilat Proprietary and Confidential 8
Slide 9: In Flight Connectivity
In Flight Connectivity Aero Antennas 400Mbps Modem Superior Passenger Experience Transceivers Ground Equipment Expanding Fleets Enabling Large IFC Global Networks Commercial Aircrafts Business Aircrafts Global Coverage | > 30 Satellites | ~16,000 ~19,500 (2032) (2032) 28 Teleports | 32 Airlines | CA
Slide 10: Maritime
Maritime Active VSAT Terminals 2022 2032 1 52,500 23,600 Merchant 1,100 2,600 Passenger 11,600 5,000 Leisure 9,700 4,500 Fishing 4,200 2,200 Oil & Gas Euroconsult 2023 Gilat Proprietary and Confidential 10
Slide 11: CBH
CBH 4G/5G Ubiquitous Connectivity Bridging the Digital Divide 1 ~75% of Satellite Backhaul 4G/LTE Market Share NSR & GILAT ESTIMATION, 2022 Global CPE Revenues ($M) Demonstrated 5G Capabilities Over NGSO: 140.9 284.8 141.5 31.1 8.4 3.2 2022 2028 2G 3G 4G 5G NSR 2023 Gilat Proprietary and Confidentia
Slide 12: Defense & Government
Defense & Government Increased Focus on Military Satcom Networks 2 Secure & Resilient SATCOM Technology for Today’s Net-Centric Battlefield • End-to-end in-house capabilities for land, sea and air missions • Ruggedized antennas, modems and SSPAs • Enable mission-critical COMMs/C5ISR operations over
Slide 13: Acquisition of DataPath
Acquisition of DataPath Completed November 2023 2 DataPath is a market leader in trusted communications for the US DoD Military and Government sectors, generating annual revenues of ~$45M and profitable • A strategic step in Gilat’s role in the defense markets • High Synergy potential between the co
Slide 14: Peru Terrestrial Networks Shifting to Operations
Peru Terrestrial Networks Shifting to Operations Recurring Revenue Model 3 Amazonas Telecommunications Rural Government Gilat Delivers Internet to Millions Annual Recurring Revenues >$50M of People in Peru Lima Huancavelica Cusco Ica Apurimac Pronatel Terrestrial Projects totaling $567M Ayacucho 5 r
Slide 15: Financial Highlights
Financial Highlights Gilat Proprietary and Confidential 15
Slide 16: Q4 2023 Profit and Loss Highlights
Q4 2023 Profit and Loss Highlights US$ Millions Q4/23 Q3/23 Q2/23 Q1/23 Q4/22 GAAP Revenue 75.6 63.9 67.6 59.0 72.6 Gross Margin 38% 40% 38% 42% 38% Operating Expenses 26.0 13.1 20.1 17.7 21.6 Operating Income 2.9 12.7 5.4 7.0 6.1 Net Income / (Loss) 3.4 10.2 4.3 5.6 (6.0) Non-GAAP Adj. EBITDA 9.4 9
Slide 17: FY 2023 Profit and Loss Highlights
FY 2023 Profit and Loss Highlights US$ Millions 2023 2022 GAAP Revenue 266.1 239.8 Gross Margin 39.4% 36.2% Operating Expenses 76.9 77.0 Operating Income 28.1 10.0 Net Income / (Loss) 23.5 (5.9) Non-GAAP Adj. EBITDA 36.4 25.2 Operating Expenses 82.3 73.6 Operating Income 23.5 13.6 Net Income 19.9 10
Slide 18: Balance Sheet Highlights
Balance Sheet Highlights US$ Millions Q4/23 Q3/23 Q2/23 Q1/23 Q4/22 Cash, net 1 95.3 100.3 87.8 89.7 87.1 DSO 2 63 75 63 77 72 Cash From Operations 10.0 13.8 2.0 6.2 16.8 Equity 274.7 265.5 255.0 250.0 244.1 1) Cash includes Cash and cash equivalents and restricted cash, net of loans 2) DSO exclude
Slide 19: Executing Profitable Growth Strategy
Executing Profitable Growth Strategy 2024 Market Guidance (US$ Millions) Revenues: GAAP Operating Income: Adjusted EBITDA: $305M - $325M $15M - $19M $40M - $44M Gilat Proprietary and Confidential 19
Slide 20: Summary
Summary Uniquely Positioned to Unlock Growth Opportunities VHTS and NGSO Opening New Markets SkyEdge IV is a leading VHTS and NGSO Platform Leading in Main Growth Areas – Cellular Backhaul (4G, 5G) & In-Flight Connectivity Focused on Military SATCOM Networks Demonstrating Profitable Growth 20 Gilat
Slide 21: Thank You
Thank You [email protected] Gilat.com
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