Viasat, Inc. (NASDAQ:VSAT) Q3 2023 Earnings Conference Call February 7, 2023 5:00 PM ET Company Participants Mark Dankberg - Chairman and CEO Shawn Duffy - CFO Robert Blair - General Counsel Conference Call Participants Ric Prentiss - Raymond James Nikhil Aluru - JP Morgan Landon Park - Morgan Stanley Mike Crawford - B. Riley Securities Caleb Henry - Quilty Analytics Ryan Koontz - Needham & Company Louie DiPalma - William Blair Operator Welcome to ViaSat’s FY 2023 Third Quarter Earnings Conference Call. You ...

Viasat, Inc. (NASDAQ:VSAT) Q2 2023 Results Conference Call November 8, 2022 5:00 PM ET Company Participants Mark Dankberg - Chairman & CEO Rick Baldridge - Vice Chairman Kevin Harkernweider - Chief Operating Officer Shawn Duffy - Chief Financial Officer Robert Blair - General Counsel Peter Opes - Investor Relations Conference Call Participants Richard Prentiss - Raymond James Landon Park - Morgan Stanley Michael Crawford - B. Riley Securities Christopher David Quilty - Quilty Analytics Louie DiPalma - Willi ...

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 June 30, 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) Delaware 33-0174996 (State or other jurisdiction o ...

Financial Data and Key Metrics Changes - The first quarter results were consistent with the outlook described in the previous fiscal year-end call, with slight sequential decline in adjusted EBITDA due to various factors including seasonality and supply chain issues [7] - Consolidated service revenue and Satellite Services segment revenue achieved new records in the quarter, partially offset by product revenue impacts [8] - The company expects first quarter EBITDA to be the low point of the fiscal year, with anticipated sequential growth driven by in-flight connectivity installations and strong government orders [8] Business Line Data and Key Metrics Changes - The government business is composed of three main segments: Tactical Data Links (approximately one-third), information security and cybersecurity (less than one-third), and satellite-oriented services [16][17] - The fastest-growing segment is satellite services, which has significant synergy with the overall satellite services business [17] Market Data and Key Metrics Changes - The company aims to grow its fleet of active in-flight aircraft by about 500 over the remainder of the fiscal year, including both new and retrofit aircraft [8] - The company has been successful in the U.S. market and is looking to expand its international presence as it prepares for the launch of ViaSat-3 [33] Company Strategy and Development Direction - The company focuses on synergy across its various business segments, particularly in defense and satellite services, to drive growth [19] - The encryption portion of the business is viewed as a critical component of the overall cybersecurity strategy, with expectations of spillover into commercial markets [20] - The company is pursuing a multi-orbit strategy, recognizing the importance of both GEO and non-GEO solutions to meet customer needs [41][42] Management's Comments on Operating Environment and Future Outlook - Management believes the current quarter represents the low point in financial performance, with expectations for solid sequential organic growth throughout the year [93] - The company is making good progress on the Inmarsat integration and anticipates the ViaSat-3 Americas launch shortly after the next earnings call, which are seen as catalysts for continued growth [94] Other Important Information - The company collected a $62 million payment from Acacia Communications for the use of its intellectual property, which will help offset pre-launch ground infrastructure expenses [10][11] - The company is actively involved in ongoing litigation with Acacia, with two pending lawsuits related to technology use beyond 2018 [79] Q&A Session Summary Question: Update on the government side of the business and potential strategic drop-ins - Management does not comment on speculation but provided insights into the composition and relative size of the government business segments [16] Question: Timeline for closing the Inmarsat acquisition - Management remains optimistic about closing the acquisition within the expected timeframe, although regulatory reviews are ongoing [22][24] Question: Visibility on adding 500 aircraft and targeting international airlines - The 500 aircraft target includes both new and retrofit planes, with a focus on expanding international presence as ViaSat-3 comes online [31][33] Question: Thoughts on the FCC's review of the space industry - Management views the FCC's efforts as a proactive approach to address potential regulatory bottlenecks in the evolving space sector [54] Question: Legal settlement impact on EBITDA - The $62 million payment is expected to contribute approximately $50 million to EBITDA after accounting for associated costs [48][50] Question: Synergies in Tactical Link 16 and opportunities - Management highlighted the potential for synergies in defense communications and the integration of terrestrial and satellite networks [56][57] Question: Industry consolidation and its implications - Management believes the shift from broadcast to data transmission is driving consolidation, with a focus on creating growth opportunities rather than merely seeking cost synergies [58][59]

Acquisition and Financing - The company is acquiring Inmarsat for a total consideration of $850 million in cash and approximately 46.36 million shares of common stock, with a cash reduction of $299.3 million due to a dividend paid by Inmarsat[15][16]. - Financing commitments of $1.6 billion have been secured for the Inmarsat transaction, with an expected additional indebtedness of $1.3 billion after accounting for the cash reduction[17]. - The company plans to assume $2.1 billion in Inmarsat senior secured bonds and $2.4 billion in senior secured credit facilities[17][18]. - The company completed the acquisition of EBI for approximately $167 million, netting a cash outlay of about $51 million after accounting for EBI's cash on hand[19]. - The company issued 46.36 million unregistered shares of common stock as consideration in the Inmarsat Transaction and 4.0 million shares for the acquisition of RigNet in fiscal year 2022[168]. - The company expects to incur an additional $1.3 billion of indebtedness related to the Inmarsat Transaction, along with assuming $2.1 billion in senior secured bonds[192]. Satellite and Broadband Services - The company has launched a global constellation of three ViaSat-3 class satellites, expected to provide eight times the capacity of the previous satellites, with the first launch anticipated in Q4 of fiscal year 2023[23][26]. - The satellite services segment is expected to grow due to increased demand for high-speed broadband services, driven by the rise in internet users and connected devices[27]. - The commercial networks segment is expected to grow as demand for mobile and fixed broadband connectivity increases globally[32]. - The ViaSat-3 constellation is anticipated to provide approximately eight times the capacity of the ViaSat-1 and ViaSat-2 satellites combined, enabling affordable global connectivity[10]. - The ViaSat-2 satellite supports retail service plans offering data capacity in select markets of up to 100 Mbps, with expectations for the ViaSat-3 satellites to expand service offerings further[38]. - The company’s tactical data link products include market-leading handheld Link 16 radios, enhancing communications and situational awareness capabilities for military operations[38]. Market Demand and Competition - The company experienced increased demand for premium high-speed plans during the COVID-19 pandemic, but also faced a decline in demand for in-flight services due to reduced global air traffic[28]. - Mobile Broadband Satellite Communication Systems continue to be impacted by the COVID-19 pandemic, with global airline traffic not yet recovering to pre-pandemic levels[33]. - The company faces competition from larger telecommunications companies and emerging technologies, which may impact demand for its broadband services[68]. - The competitive landscape is characterized by substantial competition, with many competitors having greater resources and capabilities[138]. Government Contracts and Systems - Approximately 25% of total revenues in fiscal year 2022 came from U.S. Government contracts, with similar contributions in previous years[49]. - Total new awards in the government systems segment grew from $460.9 million in fiscal year 2011 to $1.0 billion in fiscal year 2022, reflecting high demand for military and government products and services[38]. - The company’s government mobile broadband services provide high-speed, real-time connectivity for military and government users, supporting critical operations and emergency responses[35]. - The government systems segment's results are affected by the timing of contract awards and U.S. Government funding availability[108]. - Funding for U.S. Government programs is subject to congressional appropriations, which can lead to delays or reductions in available funds[149]. Research and Development - R&D investments totaled $153.2 million, $115.8 million, and $130.4 million for fiscal years 2022, 2021, and 2020 respectively, focusing on high-capacity satellite technologies[58]. - The company’s R&D efforts are supported by a global workforce of approximately 3,400 engineers, fostering a culture of innovation[10]. Employee and Management - As of March 31, 2022, the company employed approximately 7,000 individuals worldwide, with 84% of the workforce located in the United States[112]. - The company reported a significant majority of employees expressing pride in working at Viasat, indicating positive employee relations[112]. - The company emphasizes the importance of attracting and retaining qualified personnel to ensure future success in a competitive industry[112]. - The executive team includes experienced leaders such as Richard Baldridge, who has been with the company since 1999 and currently serves as President and CEO[116]. - Viasat continues to adapt its strategies to enhance employee engagement and ensure a positive workplace culture[114]. Regulatory and Compliance - The company is subject to various regulatory requirements, including compliance with the Federal Communications Commission (FCC) in the U.S. for operating satellite earth stations[85]. - The company is subject to various federal and state laws regarding consumer privacy and data security, including the California Consumer Privacy Act (CCPA) and the California Privacy Rights Act[94]. - The company must comply with U.S. and international export control laws, with violations potentially leading to significant penalties and adverse impacts on business operations[182]. - The company is subject to rigorous audits by U.S. Government agencies, increasing the likelihood of adverse outcomes that could harm its reputation and profitability[183]. Financial Performance and Risks - The company’s operating results have varied significantly from quarter to quarter, influenced by factors such as satellite-related activities, construction delays, and customer payment timing[131]. - The actual operational life of satellites may be shorter than their design life, affecting revenue generation capabilities[133]. - The company may face challenges in obtaining or renewing insurance for satellites, which could impact financial stability[136]. - The company relies on a limited number of key employees, and the loss of these personnel could materially harm business operations[163]. - The company may incur substantial costs related to intellectual property litigation, which could divert management's attention and adversely affect its financial condition[187]. Strategic Initiatives - The company is expanding internationally, leveraging partnerships and the upcoming ViaSat-3 constellation to enhance global broadband service offerings[45]. - The company actively seeks strategic partnerships to enhance its market presence and sales efforts[64]. - The company plans to operate additional regional sales offices in fiscal year 2023 and beyond to enhance its market presence[209]. - The company is working on the design of the next-generation ViaSat-4 satellite system, expected to deliver multiple Terabits per second, significantly enhancing capacity[37].

ViaSat, Inc. (NASDAQ:VSAT) Q4 2022 Earnings Conference Call May 25, 2022 5:00 PM ET Company Participants Rick Baldridge - President and CEO Robert Blair - General Counsel Mark Dankberg - Executive Chairman Shawn Duffy - CFO Conference Call Participants Landon Park - Morgan Stanley Ryan Koontz - Needham & Company Louie DiPalma - William Blair Chris Quilty - Quilty Analytics Operator Hello and welcome to Viasat's Fourth Quarter and Fiscal Year 2022 Earnings Conference Call. Your host for today is Rick Baldrid ...

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, 2021. 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) Delaware 33-0174996 (State or other jurisdicti ...

ViaSat Inc. (NASDAQ:VSAT) Q3 2022 Earnings Conference Call February 3, 2022 1:00 PM ET Company Participants Rick Baldridge - President & Chief Executive Officer Robert Blair - General Counsel Mark Dankberg - Executive Chairman Shawn Duffy - Chief Financial Officer Conference Call Participants Ric Prentiss - Raymond James Landon Park - Morgan Stanley Mathieu Robillard - Barclays Chris Quilty - Quilty Analytics Louie DiPalma - William Blair Ryan Koontz - Needham & Company Operator Welcome to Viasat's Fiscal Y ...

VIasat™ red to be her has the services and the sentify of the sential seen the sentifies and the sentifies a Fellow Shareholders, Viasat continued to execute on its core strategy and achieved excellent results for the third quarter of fiscal year 2022 (FY2022) across multiple fronts. We earned double digit organic revenue growth, reported Virgin Atlantic as a new in-flight connectivity (IFC) customer, and continued to expand our fixed broadband presence internationally. Although COVID-19 continues to create ...

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