Viasat, Inc. (NASDAQ:VSAT) Q2 2021 Earnings Conference Call November 5, 2020 5:00 PM ET Company Participants Mark Dankberg – Executive Chairman Robert Blair – General Counsel Rick Baldridge – President and Chief Executive Officer Shawn Duffy – Chief Financial Officer Conference Call Participants Rick Prentiss – Raymond James Rich Valera – Needham and Company Caleb Henry – Quilty Analytics Mike Crawford – B. Riley Securities Operator Welcome to Viasat’s FY 2021 Second Quarter Earnings Conference Call. Your h ...

Q2 FY21 Sha reholde r Letter Fellow Shareholders, We delivered outstanding Q2 fiscal year 2021 (FY2021) operational and financial results, highlighted by over $730 million in new awards, net income near flat year-over-year (YoY) despite the ongoing effects of the pandemic, strong YoY Adjusted EBITDA growth of 10% and an improved liquidity and leverage profile. These results cap the first half of our FY2021, which has unfolded against the backdrop of the global pandemic. During this period Viasat has demonst ...

Revenue Performance - The government systems segment represented 47% and 48% of total revenues for the three and six months ended September 30, 2020, respectively, indicating strong demand despite COVID-19 challenges [155]. - Total revenues decreased by $38.0 million to $554.3 million for the three months ended September 30, 2020, compared to $592.3 million for the same period in 2019, driven by a $50.9 million decrease in product revenues [195]. - Product revenues fell by 17% to $256.0 million, while service revenues increased by 5% to $298.3 million, reflecting a $43.5 million decrease in government systems and a $7.4 million decrease in commercial networks [195]. - Total revenues for the six months ended September 30, 2020, decreased by $44.5 million to $1,084.8 million, driven by a $63.8 million decrease in product revenues, partially offset by a $19.3 million increase in service revenues [213]. - The government systems segment revenues decreased by $39.0 million to $259.5 million, with a $43.5 million decrease in product revenues partially offset by a $4.5 million increase in service revenues [211]. Subscriber and Service Growth - As of September 30, 2020, the company provided fixed broadband services to approximately 603,000 U.S. subscribers, with an average revenue per fixed broadband subscriber (ARPU) of $102.66 [160]. - The company experienced an uptick in demand for fixed broadband services in the U.S. since mid-March 2020, with net subscriber additions and increased demand for premium plans [156]. - Total subscribers for satellite services reached approximately 603,000 as of September 30, 2020, up from 587,000 in the prior year, reflecting a higher mix of subscribers choosing premium plans [205]. - The satellite services segment revenues increased by $15.3 million to $417.9 million, primarily driven by an increase in service revenues of 4% [225]. Financial Position and Cash Flow - The company had $350.4 million in cash and cash equivalents as of September 30, 2020, with no outstanding borrowings [239]. - Cash provided by operating activities for the first six months of fiscal year 2021 was $333.5 million, an increase of $150.2 million compared to $183.3 million in the prior year period [244]. - Cash used in investing activities for the first six months of fiscal year 2021 was $459.9 million, reflecting a $97.2 million increase year-over-year, primarily due to an increase of $87.8 million in cash used for satellite construction [245]. - Cash provided by financing activities for the first six months of fiscal year 2021 was $171.9 million, a significant increase of $166.7 million compared to $5.2 million in the prior year period, mainly due to $174.7 million in net proceeds from a private placement of common stock [246]. Cost Management and Expenses - Cost of revenues decreased by $22.8 million to $387.3 million, with a $31.2 million decrease in cost of product revenues and an $8.4 million increase in cost of service revenues [196]. - Selling, general and administrative expenses decreased by $1.9 million to $125.5 million, primarily due to reductions in selling costs and bid and proposal costs [197]. - Independent research and development expenses decreased by $6.8 million to $27.5 million, mainly due to reduced efforts in the commercial networks and government systems segments [198]. - The operating profit for the satellite services segment increased by $6.4 million to $11.5 million, representing a 124% increase, attributed to lower selling costs and improved margins [206]. Impact of COVID-19 - The COVID-19 pandemic has negatively impacted the higher-margin in-flight services business due to a severe decline in global air traffic, but improvements are anticipated as airline traffic gradually increases [156]. - The company’s diversified business model is expected to provide resiliency against ongoing economic challenges posed by the COVID-19 pandemic [154]. - The company has taken measures to mitigate the impact of COVID-19, including deferring certain capital expenditures and reducing discretionary expenditures, without experiencing significant liquidity issues [243]. Future Outlook and Investments - The company anticipates activating its in-flight connectivity (IFC) services on approximately 750 additional commercial aircraft under existing customer agreements, although delays may occur due to COVID-19 impacts [160]. - The company expects to continue investing in IR&D at a significant level to support satellite and space technologies, with investments depending on various factors including project development stages and market opportunities [249]. - Capital expenditures are expected to increase in fiscal year 2021 compared to fiscal year 2020, driven by the construction of a third ViaSat-3 class satellite and increased ground network investments [249]. Debt and Obligations - The company has a Revolving Credit Facility with a borrowing availability of $667.5 million as of September 30, 2020, with no outstanding borrowings [250]. - The total contractual obligations of the company as of September 30, 2020, amounted to $4,659.5 million, with significant commitments in operating leases and purchase commitments [275]. - The company has limited its ability to incur additional debt and make distributions through the indentures governing its Notes [266].

Viasat, Inc. (NASDAQ:VSAT) Q2 2020 Earnings Conference Call August 7, 2020 8:30 AM ET Company Participants Mark Dankberg - Chairman & Chief Executive Officer Robert Blair - General Counsel Rick Baldridge - President & Chief Operating Officer Shawn Duffy - Chief Financial Officer Conference Call Participants Philip Cusick - JP Morgan Rick Prentiss - Raymond James Simon Flannery - Morgan Stanley Mathieu Robilliard - Barclays Mike Crawford - B. Riley Chris Quilty - Quilty Analytics Louie DiPalma - William Blai ...

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, 2020. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . (Address of principal executive offices and telephone number) Securities registered pursuant to Section 12(b) of the Act: | (Title of Each Class) | (Trad ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2020 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 of incorp ...

Viasat, Inc. (NASDAQ:VSAT) Q4 2020 Earnings Conference Call May 26, 2020 5:00 PM ET Company Participants Mark Dankberg - Chairman & Chief Executive Officer Robert Blair - General Counsel Rick Baldridge - President & Chief Operating Officer Shawn Duffy - Chief Financial Officer Conference Call Participants Philip Cusick - JPMorgan Rich Valera - Needham & Company Simon Flannery - Morgan Stanley Ric Prentiss - Raymond James Mike Crawford - B. Riley Chris Quilty - Quilty Analytics Louie DiPalma - William Blair ...

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, 2019. 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 2020 Results Earnings Conference Call February 6, 2020 5:00 PM ET Company Participants Mark Dankberg - Chairman of the Board, Chief Executive Officer Robert Blair - Vice President, General Counsel, Secretary Shawn Duffy - Senior Vice President, Chief Financial Officer Richard Baldridge - Director, President, Chief Operating Officer Bruce Dirks - Senior Vice President, Treasury, Corporate Development Conference Call Participants Philip Cusick - JPMorgan Rich Valera - Needham & C ...

Viasat, Inc. FY20 Q3 Results February 6, 2020 Viasat " Safe Harbor Disclosure Forward-looking statements This presentation contains forward-looking statements regarding future events and our future results that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. These statements are based on current expectations, estimates, forecasts and projections about the industries in which we operate and the beliefs and assumptions of our management. We use ...