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Gilat Satellite Networks Ltd.

Foreign Filer Report May 24, 2022

6810_rns_2022-05-24_461f907d-8432-4c59-96c1-25c225856f19.pdf

Foreign Filer Report

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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 May, 2022

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 May 24, 2022

By: /s/ Yael Shofar

Yael Shofar General Counsel

GILAT SATELLITE NETWORKS

Investors Presentation

MAY 2022

FORWARD LOOKING STATEMENTS DISCLAIMER

Certain statements made in this presentation are forward-looking within the meaning of the Private Securities Ligation Reform Act of 1995. The words "estimate", "intend", "expect", "believe" and similar expressions are intended to identify forwardlooking statements. These forward-looking statements involve risks and uncertaintes. Many factors could cause the actual resuls, performance of Giat 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, nability to maintain market acceptance to Glain 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 prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of ley OEM partners, inability to attract and relain qualified protect the Company's proprietary technology and risks associated with Glat's international operations and its location in Israel. Glat undertakes no obligation to update or revise any forwardlooking statements for any reason. For additional information regarding these and uncertainles associated with Glats business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.

Unaudited/Non-GAAP Financial Measures

This presentation includes financial data that is not and financial data that was not prepared in accordance with U.S. Generally Accepted Accounting Principles (GAP). Non-GARP financial measures appearing in this presentation consist of GAAP financial measures adjusted to exclude, non-cash shares inparment of goodwill and long-wed assess, amorization of acquired intangible assets, restructuring, trade secrets lax expenses under annesty program, deferred lax benefit hat was recorded for the first time and other non-recurring expenses and he' income or loss from discontinued operations. Gial believes hers non-GAP financial neasures provide consistent and comparable neasures 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 comparable GAAP measures and should be read in consolidated financial statements prepared in accordance with GAAP

+800 Employees 1987 Founded 20 Sales Offices 5 R&D Centers GILT NASDAQ/TASE

UNIQUELY POSITIONED TO UNLOCK GROWTH OPPORTUNITIES

1

റ | Strong Tailwinds in Defense
∠ | Increased focus on military SATCOM networks

റ്റു | Peru Terrestrial Networks "Investment" Shifting to Operation
ാ | Recurring revenue model

MORE THAN 50,000 LEO SATELLITES EXPECTED WITHIN A DECADE; INVESTMENT OVER \$30 BILLION A MULTI-BILLION DOLLAR EQUIPMENT MARKET

SKYEDGE IV - INDUSTRY LEADING GROUND PLATFORM FOR VHTS & NGSO

POST COVID-19 IFC REBOUND INCLUDES FREE WIFI TAILWIND LONG TERM IFC INVESTMENT CYCLE

Source: Valour 2020

GROWTH OPPORTUNITIES DRIVEN BY INCREASE IN DEMAND AND MARKET PENETRATION

ACTIVE VSAT TERMINALS

4G/5G UBIQUITOUS CONNECTIVITY BRIDGING THE DIGITAL DIVIDE

GILAT EXPERTISE AND INNOVATION MAKING 5G A REALITY

STRONG TAILWINDS IN DEFENSE

INCREASED FOCUS ON MILITARY SATCOM NETWORKS

Transportable

Military Aircraft

On-the-Move

HIGH-BANDWIDTH REQUIRED IN BATTLEFIELD

GOVERNMENT & MILITARY SATELLITE COMMUNICATIONS

Expected Market Value ~\$930M in 2025

Source: NSR 2020

Satcom Network

Unmanned Aerial Vehicle

On-the-Pause

PERU TERRESTRIAL NETWORKS "INVESTMENT" SHIFTING TO OPERATIONS 2 |

PERU - PRONATEL (FITEL) PROJECTS

PRONATEL

  • · Six regions awarded to Gilat (~\$550M)
    • · ~ \$350M construction revenue
      • · Four regions passed government acceptance; 2 regions are planned during 2023
      • · Revenue recognized by March 31, 2022, ~\$313M
    • · · · \$200M in operational revenue over ten years
      • · Three regions entered the operations phase in 2019
      • · One region entered the operations phase in Q2 2021
      • · Two regions expected to enter the operations phase in 2023
  • · Target: Recurring revenues >\$50M per year by the end of 2022

@ connectivity PARA TODOS TODOS TODOS

GILAT DELIVERS INTERNET TO MILLIONS OF PEOPLE IN PERU

FINANCIAL INDICATORS HIGHLIGHTS

SEGMENT COMMENTARY

US\$ MILLIONS

INTEGRATED SOLUTIONS

NETWORK INFRASTRUCTURE AND SERVICES

  • · 2020 was affected by the COVID19 pandemic
  • · 2021 was a transition year, the IFC market started to recover
  • · Growth is driven by NGSO, Cellular Backhaul, Defense, and Enterprise markets
  • · Significant multi-million award from SES and Intelsat
  • · 2020 was heavily affected by the COVID19 pandemic
  • · Revenues are significantly recovered in 2021
  • · Growth driven by IFC, NGSO and Defense markets
  • · Construction of six regional projects in Peru-consider as an "Investment" for future recurring revenues
  • · Four regions ended construction and are in the operation phase. The last two regions are expected to enter operation in 2022-2023
  • · Additional revenues from infrastructure and services projects in Peru

( Q1 2022 PROFIT AND LOSS HIGHLIGHTS

US\$ MILLIONS

Q1/22 Q4/21 Q3/21 02/21 Q1/21
Revenue 51.4 67.0 49.8 54.8 43.4
Gross Margin 32% 37% 35% 30% 29%
0 Operating Expenses 17.4 19.3 16.7 17.1 16.0
U Operating Income/ (Loss) (1.0) 5.4 0.8 (0.4) (3.5)
Net Income / (Loss) (2.5) 2.1 0.0 (0.2) (5.0)
Adj. EDITDA 2.5 10.4 3.9 2.4 (1.3)
0
-G Operating Expenses 16.7 18.2 16.2 16.6 16.2
No Operating Income/ (Loss) (0.3) 6.6 1.3 0.1 (3.6)
Net Income / (Loss) (1.8) 5.6 0.6 0.3 (5.1)

( FY 2021 PROFIT AND LOSS HIGHLIGHTS

US\$ MILLIONS

2021 2020
Revenue 215.0 166.1
Gross Margin 33% 25%
Operating Expenses 69.1 3.6
GAAP Operating Income 2.2 37.8
Net Income / (Loss) 1 (3.0) 35.1
Adj. EDITDA 15.4 (3.1)
Non-GAAP Operating Expenses 67.2 55.1
Operating Income/ (Loss) 4.4 (13.5)
Net Income / (Loss) 1.5 (16.2)

1) GAAP excluding CMTL settlement - OPEX FY20 \$57.2M; Operating loss FY20 \$15.9M; Net loss FY20 \$18.8M;

3 BALANCE SHEET HIGHLIGHTS

US\$ MILLIONS

Q1/22 Q4/21 Q3/21 02/21 01/21
Cash1 77.3 86.6 85.4 82 75.6
DSO2 93 60 66 65 77
Cash from operations (7.4) 5.2 5.0 8.4 0.3
Equity 246.9 248.3 245.7 245.3 244.8

1) Cash includes Cash and cash equivalents, short-term deposits and restricted cash

2) DSO calculation excludes Terrestrial Infrastructure Projects Segment

EXECUTING PROFITABLE GROWTH STRATEGY

Updated 2022 Market Guidelines (US\$ millions)

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

Increased Focus on Military SATCOM Networks

Focused on Profitable Growth

THANK YOU

Gilat Satellite Networks | [email protected] | www.gilat.com

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