Core Insights - Viasat, Inc. has released its first quarter fiscal year 2026 financial results, which are available on the Investor Relations section of its website [1] Group 1: Financial Results - The financial results for the first quarter of fiscal year 2026 were published in a letter to shareholders [1] Group 2: Conference Call - Viasat will host a conference call on August 5, 2025, at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time, with specific dial-in numbers provided for participants [2] - A live webcast of the conference call will be available, and the call will be archived for approximately one month [3] Group 3: Company Overview - Viasat is a global communications company focused on connecting people and devices worldwide, with operations in 24 countries [4] - The company aims to develop a comprehensive global communications network to provide high-quality, reliable, and secure connections [4] - In May 2023, Viasat completed the acquisition of Inmarsat, enhancing its capabilities and resources [4]

Core Insights - Kratos Defense & Security Solutions, Inc. has partnered with hiSky to deliver satellite network services for Industrial Internet of Things (IoT) using Kratos' OpenSpace® software-defined ground system [1][2] - The global IoT market is projected to grow from US$277 billion in 2024 to US$606 billion by 2030, with satellite connectivity playing a significant role in this expansion [2] - The partnership aims to enhance IoT services through virtual and cloud-native network architectures, reducing costs and increasing scalability [2][3] Company Overview - Kratos Defense & Security Solutions focuses on technology, products, systems, and software for defense, national security, and commercial markets, emphasizing affordability and rapid development [7][8] - hiSky, established in 2015, provides satellite communication solutions, particularly for government and industrial IoT applications, with a focus on mid-range bitrates [5][6] - Both companies are leveraging modern software-defined networking principles to enhance satellite connectivity and operational efficiency [4][8] Technological Advancements - The OpenSpace platform by Kratos is the first commercially available fully orchestrated, software-defined ground system, aimed at transforming satellite ground systems [4] - hiSky's Smartellite™ terminals offer agile satellite IoT applications, and the partnership will enable virtualization of the hiSky hub within the OpenSpace platform [3][4] - The collaboration will allow satellite operators to quickly deploy new carriers on demand, enhancing flexibility and service speed without the need for additional hardware [3]

Group 1 - AST SpaceMobile, Inc. (NASDAQ: ASTS) is planning to launch in the second half of fiscal year 2025 while executing government contracts and building its satellite constellation [1] - The upcoming Q2 '25 earnings report is scheduled for August 11, 2025 [1] - Michael Del Monte, an equity analyst with over 5 years of experience, emphasizes that investment recommendations should consider the entire investment ecosystem rather than evaluating a company in isolation [1]

Core Viewpoint - ViaSat's stock experienced a significant increase of 24% following an upgrade to "outperform" by analyst Louie DiPalma, who predicts the stock could more than double in the next 12 months [1][3]. Group 1: Analyst Insights - DiPalma utilized a sum-of-the-parts valuation method to assess ViaSat, which operates in commercial broadband, narrowband communications, and has a defense technology division [3]. - The defense technology segment contributes approximately 27% of ViaSat's revenue and is responsible for all of the company's profits [4]. - There is speculation that ViaSat may spin off or conduct an IPO for its defense technology business, which raises concerns about the remaining value of the company post-IPO [4][5]. Group 2: Financial Projections - ViaSat is projected to become free cash flow positive later this year, with an anticipated $568 million payment expected in 2026 [5]. - The completion and launch of the final two ViaSat-3 satellites are expected to enhance the likelihood of achieving positive free cash flow [5]. - Despite the optimistic outlook, there are doubts regarding the feasibility of these projections, as ViaSat has not generated positive free cash flow since 2008, with some analysts predicting it may not occur until 2027 [6]. Group 3: Investment Sentiment - The overall sentiment towards ViaSat stock remains cautious, with some analysts still considering it a sell based on historical performance and cash flow challenges [6][7].

This is a story about a space race, not the one to be first to put a man on the moon nearly 50 years ago. -It's one small step for man, one giant leap for mankind. Westin: not even the one Elon Musk is running now to put humans on Mars in the next few years.-Just over two years, we'll be sending our first uncrewed starships to Mars. Then we'll send humans two years after that. -3, 2, 1.Westin: This is a space race much closer to Earth, one just a few hundred miles over our heads. It's being run in the world ...

Core Viewpoint - Viasat, Inc. is committed to maximizing shareholder value and is open to constructive input from shareholders, including Carronade Capital Management, while focusing on its strategic goals in the satellite communications industry [2][3][4]. Group 1: Company Strategy and Positioning - Viasat is a leader in satellite infrastructure and connectivity, in-flight connectivity, and critical military and government communication, positioning itself well for global competition [2]. - The company aims to strengthen its earnings power, deliver sustainable operating and free cash flow, and reduce leverage while reviewing its portfolio to maximize long-term shareholder value [3]. Group 2: Shareholder Engagement - The Board of Directors and management team are dedicated to acting in the best interests of all shareholders and will carefully evaluate the ideas presented by Carronade Capital Management [3][4]. - Viasat emphasizes the importance of ongoing dialogue with stakeholders to foster a collaborative environment [4]. Group 3: Recent Developments - In May 2023, Viasat completed its acquisition of Inmarsat, which combined the teams, technologies, and resources of both companies to enhance its global communications capabilities [4].

Core Viewpoint - Carronade Capital Management advocates for the separation of Viasat's Defense and Advanced Technologies (DAT) segment through a spin-off or IPO, suggesting this could unlock significant shareholder value, potentially raising the stock price to between $50 and $100+ per share [4][23]. Summary by Sections Strategic Review and Separation Proposal - Carronade emphasizes that the current valuation of Viasat does not reflect the true value of its DAT segment, which is seen as a high-growth, high-margin defense technology platform [2][4]. - The firm believes that separating DAT would allow both DAT and the Communications Services segments to pursue focused growth strategies and improve financial flexibility [2][22]. Financial Performance and Valuation - DAT has shown strong financial performance, with a nearly 17% revenue growth over the last 12 months and an EBITDA margin of 28% [6]. - The backlog for DAT grew by 50% year-over-year, indicating robust demand and a favorable book-to-bill ratio of 1.2x [6][15]. - Carronade's analysis suggests that Viasat's stock could be valued at over $50 per share based on a conservative EBITDA multiple compared to its peers in the defense technology sector [10][19]. Market Position and Growth Potential - The DAT segment is positioned in critical growth areas such as tactical networking, advanced encryption, and drone technology, which are expected to drive future growth [7][11]. - Carronade notes that despite the strong performance of DAT, the market undervalues it due to broader concerns regarding the Communications Services segment, which has a nearly 20% short interest [8][9]. Communications Services Segment - The Communications Services segment is expected to generate consistent positive free cash flow, supported by long-term contracts in the in-flight connectivity business and growth in government and maritime sectors [18][20]. - Carronade believes that the market has misunderstood the potential of the Communications Services segment, which could benefit from the deployment of new satellites and a shift towards higher-margin services [17][19]. Conclusion and Call to Action - Carronade urges Viasat's management to prioritize the separation of DAT as a key outcome of the strategic review, asserting that this move would be well-received by investors and would enhance the visibility and valuation of both segments [3][22][23].

Core Viewpoint - Viasat, Inc. will release its first quarter fiscal year 2026 financial results on August 5, 2025, after market close, and will host a conference call and webcast on the same day [1][2]. Company Overview - Viasat is a global communications company with a mission to connect everyone and everything in the world, operating in 24 countries [3]. - The company aims to develop a global communications network that provides high-quality, reliable, secure, affordable, and fast connections, impacting lives positively [3]. - In May 2023, Viasat completed the acquisition of Inmarsat, enhancing its capabilities and resources [3].

Market Overview - Wall Street has experienced a rally, with major indexes reaching new all-time closing highs, driven by optimism surrounding trade deals and a robust earnings season [1] - Despite the rally, concerns about the economy persist, particularly regarding elevated inflation and the Federal Reserve's stance on interest rates [2][5] - The Federal Reserve is expected to maintain interest rates in the range of 4.25-4.5% during its July policy meeting, influenced by strong retail sales data [4][5] Dividend-Paying Stocks - Cautious investors may consider dividend-paying stocks as a means to generate steady income and protect capital amid market volatility [3] - Teck Resources Limited (TECK) announced a dividend of $0.09 per share, with a dividend yield of 1.10% and a payout ratio of 25% [8] - Republic Services, Inc. (RSG) declared a dividend of $0.63 per share, yielding 0.95% with a payout ratio of 35% [10] - Iridium Communications Inc. (IRDM) announced a dividend of $0.15 per share, yielding 2.18% and a payout ratio of 57% [12] - Comfort Systems USA, Inc. (FIX) declared a dividend of $0.50 per share, with a yield of 0.26% and a payout ratio of 9% [14]

Core Insights - Zacks Premium provides tools for investors to enhance their stock market strategies, including daily updates, research reports, and stock screens [1] - The Zacks Style Scores are designed to help investors select stocks with the highest potential to outperform the market in the short term [2] Zacks Style Scores Overview - Stocks are rated based on value, growth, and momentum characteristics, with scores ranging from A to F, where A indicates the highest potential for outperformance [3] - The Style Scores are categorized into four types: Value Score, Growth Score, Momentum Score, and VGM Score [3][4][5][6] Value Score - The Value Score focuses on identifying undervalued stocks using financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [3] Growth Score - The Growth Score assesses a company's financial health and future growth potential by analyzing projected and historical earnings, sales, and cash flow [4] Momentum Score - The Momentum Score identifies optimal entry points for stocks based on price trends and earnings estimate changes [5] VGM Score - The VGM Score combines all three Style Scores to highlight stocks with the best value, growth prospects, and momentum [6] Zacks Rank Integration - The Zacks Rank utilizes earnings estimate revisions to facilitate portfolio building, with 1 (Strong Buy) stocks achieving an average annual return of +23.62% since 1988, significantly outperforming the S&P 500 [7] - There are over 800 stocks rated 1 or 2, making it essential to use Style Scores to narrow down selections [8] Stock Example: Iridium Communications (IRDM) - Iridium Communications, a satellite communications company, holds a 2 (Buy) Zacks Rank and a VGM Score of B [11] - The company has a Value Style Score of B, supported by a forward P/E ratio of 24.26, indicating attractive valuation metrics [12] - Recent upward revisions in earnings estimates for fiscal 2025 have increased the Zacks Consensus Estimate to $1.04 per share, with an average earnings surprise of +27.1% [12]