Gilat Satellite Networks Ltd. · NASDAQ:GILT
Gilat Satellite Networks — Investor Presentation (May 2024)
21 slides from Gilat Satellite Networks's investor presentation, May 2024
Slide 1: Gilat Satellite Networks Investors Presentation
Gilat Satellite Networks Investors Presentation May 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 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 ($M) GEO 4,500 35,786 km 4,000 ~550msec HTS/VHTS 3,500 3,000 2,500 MEO 2,000 2,000-10,000 km SES/O3B 1,500 ~120msec 1,000 500 0 LEO 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
Slide 8: SkyEdge IV – Industry Leading Ground Platform
SkyEdge IV – Industry Leading Ground Platform For VHTS & Multi Orbit Constellations Land Mobility Aviation Broadband Defense IoT Maritime Enterprise Cellular The Satellite Operators Choice Gilat Proprietary and Confidential 8
Slide 9: In Flight Connectivity
In Flight Connectivity Aero Antennas 400Mbps Modem Superior Passenger Experience Transceivers Ground Equipment Expanding Fleets Enabling Large IFC Global Networks Commercial Aircrafts Business Aircrafts Global Coverage | > 30 Satellites | ~16,000 ~19,500 (2032) (2032) 28 Teleports | 32 Airlines | CA
Slide 10: Maritime
Maritime Active VSAT Terminals 2022 2032 1 52,500 23,600 Merchant 1,100 2,600 Passenger 11,600 5,000 Leisure 9,700 4,500 Fishing 4,200 2,200 Oil & Gas Euroconsult 2023 Gilat Proprietary and Confidential 10
Slide 11: Cellular Backhaul
Cellular Backhaul 4G/5G Ubiquitous Connectivity Bridging the Digital Divide 1 ~75% of Satellite Backhaul 4G/LTE Market Share NSR & GILAT ESTIMATION, 2022 Global CPE Revenues ($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 a
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 Pronatel Terrestrial Projects totaling $567M Ica Apurimac 5 regions in
Slide 15: Financial Highlights
Financial Highlights Gilat Proprietary and Confidential 15
Slide 16: Q1 2024 Profit and Loss Highlights
Q1 2024 Profit and Loss Highlights US$ Millions Q1/24 Q4/23 Q3/23 Q2/23 Q1/23 GAAP Revenue 76.1 75.6 63.9 67.6 59.0 Operating Expenses 22.7 26.0 13.1 20.1 17.7 Operating Income 5.4 2.9 12.7 5.4 7.0 Net Income 5.0 3.4 10.2 4.3 5.6 Non-GAAP Gross Margin 38% 39% 41% 38% 42% Adj. EBITDA 9.3 9.4 9.5 9.2
Slide 17: Balance Sheet Highlights
Balance Sheet Highlights US$ Millions Q1/24 Q4/23 Q3/23 Q2/23 Q1/23 Cash, net 1 98.5 95.3 100.3 87.8 89.7 DSO 2 76 64 75 63 77 Cash From Operations 4.2 10.0 13.8 2.0 6.2 Equity 280.8 274.7 265.5 255.0 250.0 1) Cash includes Cash and cash equivalents and restricted cash, net of loans 2) DSO exclude c
Slide 18: Executing Profitable Growth Strategy
Executing Profitable Growth Strategy 2024 Market Guidance (US$ Millions) Revenues: GAAP Operating Income: Adjusted EBITDA: $305M - $325M $15M - $19M $40M - $44M Gilat Proprietary and Confidential 18
Slide 19: 2024 Market Guidance by Segment
2024 Market Guidance by Segment Annual Revenues (US$ Millions) Satellite Networks Integrated Solutions Network Infrastructure and Services 203-213 61 58 52-57 50 50-55 50 51 169 46 115 120 2021 2022 2023 2024E 2021 2022 2023 2024E 2021 2022 2023 2024E $203M - $213M $50M - $55M $52M - $57M Gilat Prop
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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