6-K
Gilat Satellite Networks Ltd (GILT)
FORM 6 – K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report on Foreign Issuer
Pursuant to Rule 13a – 16 or 15d – 16
of the Securities Exchange Act of 1934
For the Month of February, 2021
Gilat Satellite Networks Ltd.
(Translation of Registrant’s Name into English)
Gilat House, Yegia Kapayim Street
Daniv Park, Kiryat Arye, Petah Tikva, Israel
(Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ☐ No ☒
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A
Attached hereto is Registrant’s IR presentation as posted on Registrant’s website.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Gilat Satellite Networks Ltd. | |
|---|---|
| (Registrant) | |
| Dated February 22, 2021 | By: /s/ Yael Shofar |
| Yael Shofar | |
| General Counsel |
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GILATSATELLITENETWORKS FEBRUARY 22, 2021 Investors Presentation
FORWARD LOOKING STATEMENTS DISCLAIMER Certain statements made in this presentation 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 forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to obtain financing and/or timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. Gilat undertakes no obligation to update or revise any forward-looking statements for any reason. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.Unaudited/Non-GAAP Financial MeasuresThis presentation includes financial data that is not audited and financial data that was not prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). Non-GAAP financial measures appearing in this presentation consist of GAAP financial measures adjusted to exclude, non cash share-based compensation expenses, impairment of goodwill and long lived assets, amortization of acquired intangible assets, restructuring, trade secrets litigation expenses, tax expenses under amnesty program, deferred tax benefit that was recorded for the first time and other non-recurring expenses and net income or loss from discontinued operations. Gilat believes these non-GAAP financial measures provide consistent and comparable measures to help investors understand Gilat’s current and future operating performance. However, our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read in conjunction with Gilat’s consolidated financial statements prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies.
A WORLD LEADER IN SATELLITE COMMUNICATIONS MOBILE Cellular Backhaul MOBILITY Aero / IFCMaritimeLand BROADBAND EnterpriseConsumer DEFENSE 2G Fixed, On-the-Pause, On-the-Move INNOVATIVE GROUND EQUIPMENT TECHNOLOGY 3G 4G 5G 1987 Founded 5 R&D Centers 3 NOC Centers GILT NASDAQ /TASE 20 Sales Offices +800 Employees ~$1.1B Market Cap
GLOBAL FOOTPRINT – EXPANDING A DIVERSE CUSTOMER BASE LEADING GLOBAL CUSTOMER BASE 90+ COUNTRIES 500+ NETWORKS 300+ CUSTOMERS TELCOS , MNOS & SERVICE PROVIDER SYSTEM INTEGRATORS SATELLITE OPERATORS
MOBILE
WORLD LEADER IN CELLULAR BACKHAUL OVER SATELLITE OF SATELLITE BACKHAUL 4G/LTE INSTALLATIONS WORLDWIDE MARKET LEADER WITH 44% OF MARKET SHARE IN MODEM SHIPMENTS { NSR, 2020 } SUPERIOR USER EXPERIENCE - PATENTED ACCELERATION TECHNOLOGY - 400Mbps
THE SOLUTION BEING ABLE TO DIFFERENTIATE WITH A COMPELLING MANAGED SERVICE OFFER IS KEY TO GAIN BUSINESS AND DEFEND HEALTHY MARGINS SATELLITE BACKHAUL MARKETService, Equipment & Capacity $1.27B(2019) $5.9B(2029) Source: NSR, Feb. 2020 { NSR, 2019 } END-TO END SOLUTIONS WITH RECURRING REVENUE MANAGED SERVICES PROVEN WORLDWIDE
IN FLIGHT CONNECTIVITY
FOR ALL IN-FLIGHT CONNECTIVITY MODULES Transceivers Aero Antennas 400Mbps Modem Ground Equipment LEADING HIGH-PERFORMACNE SOLUTIONS Superior Passenger Experience
FREE WI-FI TREND FURTHER TRNASFORMS THE INDUSTRY ~1,245(2019) ~7,700(2029) Source: Valour, August 2020 BUSINESS JETS (Ka/Ku) 6,730(2019) ~14,500(2029) Source: Valour, August 2020 COMMERCIAL AIRCRAFT (Ka/Ku) GROWING IFC FORECAST DRIVES OPPORTUNITIES Modem
ENABLING LARGE IFC GLOBAL NETWORK GLOBAL COVERAGE | > 30 SATELLITES | 18 TELEPORTS | 20 AIRLINES |181 NETWORK SEGMENTS | 2 DATA CENTERS WITH TOTALNMS > 2000 airplanes connected with Gilat’s aero modems on a single network
BROADBAND
OF GLOBAL EXPERTISE, LOCAL PRESENCE, OUTSTANDING SUPPORT AND SUPERIOR DELIVERY CAPABILITIES LEADING ENTERPRISE CUSTOMERS
Oil & Gas SCADA/IoT Education Retail Banking SME Government CELLULAR BACKHAUL CONSUMER MOBILITY ENTERPRISE DEFENSE Low Power | Climate Proof | Quick Install | Layer 2/3 Support | IPSEC EncryptionQoS | BW Optimization | 1000’s of Sessions per Site MULTIPLE VERTICALS – CUSTOMIZED SOLUTIONS ONE PLATFORM. MULTIPLE VERTICALS
PERU PERU – PRONATEL (FITEL) PROJECTS
* | Proprietary and Confidential DEFENSE * | Proprietary and Confidential
SATCOM DEFENSE SOLUTIONS Transportable Command & Control On-the-Move Military Aircraft On-the-Pause Unmanned Aerial Vehicle
NGSO | VHTS | 5G
CONSTELLATIONS ARE BECOMING A REALITY MEO 2,000-10,000 km~120msec GEO 35,786 km~550msec LEO500-2,000 km~15msec OneWeb~2.5 Tbps 650 Satellites Telesat~3-8 Tbps 192-300 Satellites SpaceX~10+ Tbps 1584 -> 42,000 Satellites Amazon ~10+Tbps3263 Satellites HAPs10-50 km~5msec HTS/VHTS~50-500 Gbps SES/O3B~1-3 Tbps 22 Satellites ABUNDANCE OF CAPACITY OPENS NEW MARKETS
GILAT'S PROVEN NGSO TECHNOLOGY GILAT TO PROVIDE PLATFORM FOR O3B mPOWER Multi-million-dollar contract establishes Gilat as a significant NGSO player through the technological innovation of its multi-orbit GEO/NGSO platform SUCCESSFUL DEMONSTRATIONS WITH TELESAT'S PHASE 1 LEO SATELLITE FIRST-EVER LIVE IN-FLIGHT DEMO With Global EagleEXCEPTIONAL MOBILITY CONNECTIVITYWith Tier-1 maritime service provider FIRST-EVER DEMO OF 5G CONNECTIVITYAt Innovation Centre, University of SurreyFASTEST MODEM SPEEDSDemonstrated 1.2 Gbps total throughput
HIGH SPEED Speeds >1Gbps Innovative Wideband Technology FLEXIBLE NETWORK ARCHITECTURE Satellite Ground Segment Integration Into 5G Eco-System Utilize SDN/NFV, Cloud, Edge Computing & Network Slicing GILAT EXPERTISE AND INNOVATION MAKING 5G A REALITY GILAT'S TECHNOLOGY SUPERIORITY NOW PROVEN FOR 5G OVER THAICOM IPSTAR LOW LATENCY Order of Magnitude Reduction in Latency Leverage Our NGSO Baseband
FINANCIAL INDICATORS HIGHLIGHTS
FINANCIAL INDICATORS HIGHLIGHTS
GILAT OPERATING SEGMENTS Mobile - Cellular BackhaulBroadbandEnterpriseConsumerPeru Services FIXED NETWORKS * Q2-20 (Q2-19) IFCMaritimeLandDefenseWavestream MOBILITY Peru projects construction phase TERRESTRIAL INFRASTRUCTURE PROJECTS
Q4 2020 PROFIT AND LOSS HIGHLIGHTSUS$ IN MILLION 1) GAAP excluding CMTL settlement – OPEX Q4/20 $15.3M, Q3/20 $12.1M; Operating loss Q4/20 $2.1M, Q3/20 $2.7M; Net loss Q4/20 $2.3M, Q3/20 $3.4M
2020 PROFIT AND LOSS HIGHLIGHTSUS$ IN MILLION 1) GAAP excluding CMTL settlement and one time tax benefit - OPEX FY20 $57.2M, FY19 $70.2M; Operating loss FY20 $16.0M, operating income FY19 $25.7M; Net loss FY20 $18.7M, Net income FY19 $21.1M
CASH AND EQUIVALENTS1$116.0 ($77.2) DSO376 days (84 days) CASH FROM OPERATION2$60.4M Positive cash($7.1M Negative cash) TOTAL DEBT$4.0 ($4.0) US$ MILLIONS BALANCE SHEET HIGHLIGHTS
Leading in Main Growth Areas – Cellular Backhaul (4G, 5G) & In-Flight Connectivity Investing in Product Leadership and Innovation Focused on Profitable Growth NGSO/VHTS Opening New Markets SUMMARY UNIQUELY POSITIONED FOR UNLOCKING OPPORTUNITIES
