SpaceX Changed the Economics of Spaceflight. Now It's Doing the Same Thing to Satellite Cost.

Core Insights - Viasat's recent satellite launch faced multiple delays due to technical issues, but the ViaSat-3 F2 satellite was successfully launched on the third attempt, marking a significant milestone for the company [1][2] - The launch of the second satellite is crucial for Viasat to recover from a previous malfunction of the first satellite, which resulted in a $700 million loss [2][3] - Viasat's business model is under scrutiny as it heavily relies on a limited number of satellites, making it vulnerable to significant losses and revenue disruptions [3] Financial Overview - The cost of building the ViaSat-3 satellites has increased significantly, with estimates suggesting the second satellite could cost up to $950 million, including launch expenses [5][6] - Viasat's new satellite is expected to provide 1 terabyte per second (1 Tbps) of data throughput, which is only sufficient for a limited number of users compared to competitors [6][7] - The company reported a loss of nearly $118 million in the current year, indicating ongoing financial struggles and a potential third consecutive year of losses [14] Competitive Landscape - Viasat's satellite capabilities are being compared unfavorably to SpaceX's Starlink, which can launch multiple satellites at a fraction of the cost, significantly increasing internet capacity [8][10] - SpaceX's estimated launch cost for its Starlink satellites is around $10 million, compared to Viasat's $150 million for a single satellite launch, highlighting a substantial cost advantage for SpaceX [9][10] - The construction cost for SpaceX's Starlink satellites is significantly lower, estimated at $1.2 million each, compared to Viasat's costs, creating a competitive disadvantage for Viasat [11][12]