Gilat Satellite Networks' stock plummeted 15.27% in pre-market trading following the release of its fourth quarter and full year 2025 results. The satellite networking technology company reported mixed financial performance, with strong revenue growth but declining GAAP profitability metrics.

For the fourth quarter, Gilat reported non-GAAP earnings of $0.20 per diluted share, beating analyst expectations of $0.14, and revenue of $137.0 million, exceeding the expected $133.1 million. However, GAAP net income for the quarter declined to $8.8 million ($0.13 per diluted share) from $11.8 million ($0.21 per diluted share) in the same period last year. Full year 2025 GAAP operating income also decreased to $23.4 million from $27.7 million in 2024 despite significant revenue growth.

The company issued 2026 guidance calling for revenue between $500 million to $520 million, representing approximately 13% growth at the midpoint, with adjusted EBITDA expected to be between $61 million to $66 million. While the revenue guidance slightly exceeds analyst expectations, the market appears focused on the profitability concerns reflected in the GAAP results despite the strong top-line performance.