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CUSTOMERS, GEOGRAPHIC AND SEGMENT INFORMATION | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
CUSTOMERS, GEOGRAPHIC AND SEGMENT INFORMATION |
NOTE 15:- | CUSTOMERS, GEOGRAPHIC AND SEGMENT INFORMATION
The Company applies ASC 280, "Segment Reporting" ("ASC 280"). Operating segments are defined as components of an enterprise for which separate financial information is available and is evaluated regularly by the chief operating decision maker ("CODM"). The CODM is the Company’s Chief Executive Officer. The Company's CODM does not regularly review asset information by segments and, therefore, the Company does not report asset information by segment. Commencing January 1, 2025, the Company operates in three new operating segments as follows:
| • | Gilat Defense Division: provides secure, rapid-deployment solutions for military organizations, government agencies, and defense integrators, with a strong focus on the U.S. Department of Defense resulting from the Company’s strategic acquisition of DataPath Inc (“DPI”). By integrating technologies from Gilat, DPI, and Gilat Wavestream, the Gilat Defense Division delivers resilient battlefield connectivity with multiple layers of communication redundancy for high availability.
| • | Gilat Commercial Division: provides advanced broadband satellite communication networks for IFC, Enterprise and Cellular Backhaul, supporting HTS, VHTS, and NGSO constellations with turnkey solutions for service providers, satellite operators, and enterprises. The Company’s acquisition of SBS (see Note 19) serves as the cornerstone of this division, strengthening the Company’s position in the IFC market and enabling the Company to provide cutting-edge connectivity solutions that meet the demands of passengers, airlines, and service providers worldwide.
| • | Gilat Peru Division: specializes in end-to-end telco solutions, including the operation and implementation of large-scale network projects. With expertise in terrestrial fiber optic, wireless, and satellite networks, the Gilat Peru Division provides technology integration, managed networks and services, connectivity solutions, and reliable internet and voice access across the region.
| a. | Information on the reportable operating segments:
| 1. | The measurement of operating income (loss) in the reportable operating segments is based on the same accounting principles applied in these consolidated financial statements and includes certain corporate overhead allocations.
| 2. | Financial information relating to reportable operating segments:
|  | Year ended December 31, 2024 |
|  | Commercial |  |  | Defense |  |  | Peru |  |  | Total |
Revenues |  | $ | 155,344 |  |  | $ | 97,755 |  |  | $ | 52,349 |  |  | $ | 305,448 |
Cost of Revenues |  |  | 80,063 |  |  |  | 72,175 |  |  |  | 39,879 |  |  |  | 192,117 |
Gross profit |  |  | 75,281 |  |  |  | 25,580 |  |  |  | 12,470 |  |  |  | 113,331 |
Research and development expenses, net |  |  | 28,760 |  |  |  | 9,376 |  |  |  | - |  |  |  | 38,136 |
Selling and marketing expenses |  |  | 17,395 |  |  |  | 7,825 |  |  |  | 2,161 |  |  |  | 27,381 |
General and administrative expenses |  |  | 7,248 |  |  |  | 12,760 |  |  |  | 6,860 |  |  |  | 26,868 |
Other operating expenses (income), net*) |  |  | 2,973 |  |  |  | (465 | ) |  |  | (9,259 | ) |  |  | (6,751 | )
Operating income (loss) |  |  | 18,905 |  |  |  | (3,916 | ) |  |  | 12,708 |  |  |  | 27,697 |
Financial income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,504 |
Income before taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 29,201 |
Taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,352 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 24,849 |
Depreciation and amortization expenses |  | $ | 6,571 |  |  | $ | 5,223 |  |  | $ | 1,760 |  |  | $ | 13,554 |
|  | Year ended December 31, 2023 |
|  | Commercial |  |  | Defense |  |  | Peru |  |  | Total |
Revenues |  | $ | 195,022 |  |  | $ | 19,638 |  |  | $ | 51,430 |  |  | $ | 266,090 |
Cost of Revenues |  |  | 101,980 |  |  |  | 12,655 |  |  |  | 46,510 |  |  |  | 161,145 |
Gross profit |  |  | 93,042 |  |  |  | 6,983 |  |  |  | 4,920 |  |  |  | 104,945 |
Research and development expenses, net |  |  | 34,987 |  |  |  | 6,186 |  |  |  | - |  |  |  | 41,173 |
Selling and marketing expenses |  |  | 21,354 |  |  |  | 2,254 |  |  |  | 1,635 |  |  |  | 25,243 |
General and administrative expenses |  |  | 9,760 |  |  |  | 2,448 |  |  |  | 7,007 |  |  |  | 19,215 |
Other operating expense (income), net *) |  |  | (7,347 | ) |  |  | 1,185 |  |  |  | (2,609 | ) |  |  | (8,771 | )
Operating income (loss) |  |  | 34,288 |  |  |  | (5,090 | ) |  |  | (1,113 | ) |  |  | 28,085 |
Financial income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 109 |
Income before taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 28,194 |
Taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,690 | )
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 23,504 |
Depreciation and amortization expenses |  | $ | 7,800 |  |  | $ | 1,610 |  |  | $ | 3,992 |  |  | $ | 13,402 |
|  | Year ended December 31, 2022 |
|  | Commercial |  |  | Defense |  |  | Peru |  |  | Unallocated |  |  | Total |
Revenues |  | $ | 172,161 |  |  | $ | 9,596 |  |  | $ | 58,083 |  |  | $ | - |  |  | $ | 239,840 |
Cost of Revenues |  |  | 100,557 |  |  |  | 6,648 |  |  |  | 45,727 |  |  |  | - |  |  |  | 152,932 |
Gross profit |  |  | 71,604 |  |  |  | 2,948 |  |  |  | 12,356 |  |  |  | - |  |  |  | 86,908 |
Research and development expenses, net |  |  | 32,090 |  |  |  | 3,550 |  |  |  | - |  |  |  | - |  |  |  | 35,640 |
Selling and marketing expenses |  |  | 18,797 |  |  |  | 1,314 |  |  |  | 1,583 |  |  |  | - |  |  |  | 21,694 |
General and administrative expenses |  |  | 11,540 |  |  |  | 806 |  |  |  | 6,066 |  |  |  | - |  |  |  | 18,412 |
Other operating expenses, net *) |  |  | - |  |  |  | 438 |  |  |  | - |  |  |  | - |  |  |  | 438 |
Impairment of held for sale asset |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 771 |  |  |  | 771 |
Operating income (loss) |  |  | 9,177 |  |  |  | (3,160 | ) |  |  | 4,707 |  |  |  | (771 | ) |  |  | 9,953 |
Financial expenses, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,818 | )
Income before taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,135 |
Taxes on income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (13,063 | )
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (5,928 | )
Depreciation and amortization expenses |  | $ | 7,449 |  |  | $ | 653 |  |  | $ | 3,506 |  |  | $ | - |  |  | $ | 11,608 |
*) See Note 14
| b. | Geographic information: Revenues attributed to geographic areas, based on the location of the end customers and in accordance with ASC 280, are as follows:
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
United States |  | $ | 145,780 |  |  | $ | 103,389 |  |  | $ | 96,954 |
Peru |  |  | 52,383 |  |  |  | 53,187 |  |  |  | 58,251 |
Israel |  |  | 15,386 |  |  |  | 4,074 |  |  |  | 2,570 |
Others |  |  | 91,899 |  |  |  | 105,440 |  |  |  | 82,065 |
|  | $ | 305,448 |  |  | $ | 266,090 |  |  | $ | 239,840 |
| c. | The Company’s long-lived assets (property and equipment, net and operating lease right-of-use assets) are located as follows:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Israel |  | $ | 57,413 |  |  | $ | 59,141 |
United States |  |  | 9,046 |  |  |  | 9,085 |
Peru |  |  | 5,011 |  |  |  | 5,806 |
Others |  |  | 5,920 |  |  |  | 5,388 |
|  | $ | 77,390 |  |  | $ | 79,420 |
| d. | The table below represents the revenues from major customers and their segments:
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Customer A – Peru |  |  | 15 | % |  |  | 15 | % |  |  | 21 | %
Customer B – Commercial |  |  | 12 | % |  |  | 14 | % |  |  | * | )
Customer C – Commercial |  |  | 11 | % |  |  | 15 | % |  |  | * | )
*) Less than 10% Customer A is located in Peru, Customer B is located in the European Union and Customer C is located in the United States of America.

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