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ViaSat(VSAT) - 2024 Q4 - Annual Results
2024-05-21 20:06
Exhibit 99.2 '24 SHAREHOLDER LETTER Viasat W Fellow Shareholders, Our Fiscal Year 2024 results reflect continued revenue and Adjusted EBITDA1 growth, above the high end of our guidance, driven by our mobility and government businesses. FY2024 was a defining year. We achieved our near-term business priorities while strengthening our capital structure and investing for profitable, sustainable growth: We will remain focused during FY2025 on building a solid foundation for sustained growth. We see attractive op ...
ViaSat(VSAT) - 2024 Q3 - Quarterly Report
2024-02-09 02:36
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices and telephone number) | Securities registered pursuant to Section 12(b) of the Act: | | | | --- | --- | --- | | (Trading Symbol) | | (Name of Eac ...
ViaSat(VSAT) - 2024 Q3 - Earnings Call Transcript
2024-02-07 04:42
Viasat, Inc. (NASDAQ:VSAT) Q3 2024 Earnings Conference Call February 6, 2024 5:30 PM ET Company Participants Mark Dankberg - Co-Founder, Chairman & CEO Robert Blair - SVP, General Counsel & Secretary Kumara Gowrappan - President Shawn Duffy - SVP & CFO Conference Call Participants Richard Prentiss - Raymond James & Associates Nikhil Aluru - JPMorgan Chase & Co. Michael Crawford - B. Riley Securities Edison Yu - Deutsche Bank Christopher Quilty - Quilty Space Ryan Koontz - Needham & Company Operator Hello, a ...
ViaSat(VSAT) - 2024 Q2 - Quarterly Report
2023-11-09 21:34
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023. (Exact name of registrant as specified in its charter) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number (000-21767) VIASAT, INC. (State or other jurisdiction of incorporation ...
ViaSat(VSAT) - 2024 Q2 - Earnings Call Transcript
2023-11-09 03:34
Viasat, Inc. (NASDAQ:VSAT) Q2 2024 Results Conference Call November 8, 2023 5:30 PM ET Company Participants Mark Dankberg - Chairman & Chief Executive Officer Guru Gowrappan - President Shawn Duffy - Chief Financial Officer Robert Blair - General Counsel Conference Call Participants Phil Cusick - JPMorgan Mike Crawford - B. Riley Securities Ric Prentiss - Raymond James Chris Quilty - Quilty Space Edison Yu - Deutsche Bank Louie DiPalma - William Blair Operator Good day everyone and welcome to Viasat's FY '2 ...
ViaSat(VSAT) - 2024 Q1 - Earnings Call Transcript
2023-08-10 00:04
Viasat, Inc. (NASDAQ:VSAT) Q1 2024 Earnings Conference Call August 9, 2023 5:30 PM ET Company Participants Mark Dankberg - Chairman & Chief Executive Officer Robert Blair - General Counsel Shawn Duffy - Chief Financial Officer Guru Gowrappan - President Conference Call Participants Simon Flannery - Morgan Stanley Mike Crawford - B. Riley Securities Chris Quilty - Quilty Analytics Ric Prentiss - Raymond James Ryan Koontz - Needham & Company Louie DiPalma - William Blair Operator Welcome to Viasat's FY '24 Fi ...
ViaSat(VSAT) - 2024 Q1 - Quarterly Report
2023-08-09 21:19
(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023. OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number (000-21767) VIASAT, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...
ViaSat(VSAT) - 2023 Q4 - Annual Report
2023-05-22 20:15
Operational Risks - The company's operating results have varied significantly from quarter to quarter, influenced by factors such as satellite construction, launch delays, and customer payment timing [130]. - Satellites face operational risks including malfunctions and environmental challenges, which could materially affect the company's financial condition and operational results [131]. - The actual operational life of satellites may be shorter than their design life, influenced by factors like design quality and environmental conditions [132]. - Satellite construction and launch are subject to significant risks, including delays and cost overruns, which could impair operational capabilities [133]. - The company may not be able to obtain insurance for satellites on reasonable terms, which could lead to financial defaults [135]. - Insurance policies do not cover the full costs of satellite failures or business interruptions, potentially leading to significant financial losses [136]. Competitive Landscape - The competitive landscape is challenging, with competitors having greater resources and technological advantages, impacting the company's market position [137]. - Economic conditions, such as high unemployment and inflation, could negatively affect customer demand for satellite services [138]. Revenue Sources - Approximately 17% of total revenues in fiscal year 2023 were generated from the company's five largest contracts [154]. - The company derived approximately 16% of total revenues for fiscal year 2023 from development contracts, which involve strict performance obligations [155]. - A significant portion of revenues in the government systems and commercial networks segments comes from fixed-price contracts, exposing the company to potential cost overruns [156]. - The company relies heavily on U.S. Government contracts, which represent a significant percentage of total revenues and are subject to various risks, including compliance with government regulations [145]. - Approximately 16% of total revenues in fiscal year 2023 were derived from international sales, with expectations for a significantly greater percentage following the Inmarsat Transaction and the launch of ViaSat-3 satellites [161]. Financial Risks - The company has experienced delays and quality issues with products and components from vendors, which could negatively impact customer obligations and sales [159]. - The company is subject to complex and varying tax laws across multiple jurisdictions, which may lead to material adverse effects on its financial condition due to potential tax audits and challenges [163]. - The company may not be able to fully utilize its deferred tax assets if it does not generate sufficient taxable income in the future, which could increase income tax expenses [169]. - The company is involved in various lawsuits, including those related to significant transactions, which could disrupt operations and have a material adverse effect on financial results [164]. - The company anticipates that increasing shareholder expectations regarding environmental, social, and governance (ESG) matters could present risks to its reputation and financial condition [180]. - As of March 31, 2023, the total outstanding indebtedness of the company was $2.5 billion, including $700 million in 5.625% Senior Notes due 2025 and $600 million in 5.625% Senior Secured Notes due 2027 [190]. - The company plans to assume $2.1 billion in principal amount of Inmarsat senior secured bonds as part of the Inmarsat Transaction, increasing its indebtedness significantly [193]. - The company is subject to compliance with financial covenants, including a maximum total leverage ratio and minimum interest coverage ratio, which may restrict its operational flexibility [198]. - The company may incur significant additional indebtedness in the future, which could intensify existing risks related to its current debt levels [193]. - The company’s ability to generate sufficient cash flow to service its debt obligations is uncertain and may lead to liquidity problems if not managed effectively [194]. Regulatory and Compliance Risks - The company faces risks related to reliance on contract manufacturers and sole source suppliers, which may affect the timely delivery and quality of products [159]. - The company is subject to rigorous audits by U.S. Government agencies, which could lead to adverse outcomes affecting its contracts and profitability [184]. - Non-compliance with applicable trade control, sanctions, export control, or anti-corruption laws could result in significant penalties and adversely affect the company's financial condition [183]. - The company faces risks related to environmental laws and regulations that may require substantial operating and capital costs, potentially impacting its financial results [182]. - The company holds various authorizations to operate satellite earth stations and space stations, which are subject to regulatory compliance that, if not met, could adversely impact operations [174]. - Changes in laws and regulations, particularly regarding spectrum use and environmental considerations, could materially affect the company's operations and competitiveness [179]. Inmarsat Transaction - Strategic acquisitions, like the Inmarsat Transaction, involve risks that may hinder the realization of anticipated benefits and growth [141]. - The Inmarsat Transaction is subject to customary closing conditions, including regulatory approvals, which may not be obtained in a timely manner, potentially delaying the expected benefits of the transaction [201]. - If the Inmarsat Transaction is not completed by May 30, 2023, the company may be obligated to pay a termination fee of up to $200 million [202]. - Failure to complete the Inmarsat Transaction could lead to negative market reactions, including impacts on stock price and relationships with customers and suppliers [203]. - The company has incurred and expects to incur significant non-recurring costs related to the Inmarsat Transaction, which may not be recoverable if the transaction does not close [207]. Market and Stock Performance - The market price of the company's common stock has been volatile, ranging from $97.31 to $25.10 between April 1, 2019, and March 31, 2023 [167]. - A 50 basis point increase in interest rates would increase interest incurred by approximately $3.5 million over a 12-month period, assuming constant outstanding balances [332]. - A five percent variance in foreign currencies could change income before income taxes by $1.8 million for the fiscal year ended March 31, 2023 [333]. - The company had no foreign currency forward contracts outstanding as of March 31, 2023 [334].
ViaSat(VSAT) - 2023 Q4 - Earnings Call Transcript
2023-05-17 23:28
Viasat, Inc. (NASDAQ:VSAT) Q4 2023 Earnings Conference Call May 17, 2023 5:00 PM ET Company Participants Mark Dankberg - Chairman and CEO Shawn Duffy - CFO Robert Blair - General Counsel Guru Gowrappan - President Conference Call Participants Ric Prentiss - Raymond James Simon Flannery - Morgan Stanley Mike Crawford - B. Riley Operator Hello, and welcome to Viasat's Q4 Fiscal Year 2023 Earnings Conference Call. Your host for today's call is Mark Dankberg, Chairman and CEO. You may proceed, Mr. Dankberg. Mar ...
ViaSat(VSAT) - 2023 Q3 - Quarterly Report
2023-02-09 01:17
(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number (000-21767) VIASAT, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...