{"id":54943,"date":"2022-08-09T18:32:43","date_gmt":"2022-08-09T10:32:43","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/viasat-reports-incremental-revenue-increase-affirms-guidance\/"},"modified":"2022-08-09T18:32:43","modified_gmt":"2022-08-09T10:32:43","slug":"viasat-reports-incremental-revenue-increase-affirms-guidance","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/viasat-reports-incremental-revenue-increase-affirms-guidance\/","title":{"rendered":"Viasat Reports Incremental Revenue Increase, Affirms Guidance"},"content":{"rendered":"

Viasat<\/strong> reported a small increase in overall revenues, but a net loss for the company\u2019s first quarter 2023 results, released Aug. 8. Revenues for the three months was $678 million, a 2% increase compared to the same stage last year. However, the company reported a net loss of $22 million for the period.<\/p>\n

However, there were elements of good news for the operator. Service revenues saw a 10% year-on-year jump, driven by in in-flight connectivity (IFC) service revenue. This more than offset a decline in fixed broadband service revenue, as Viasat said it is allocating more bandwidth to IFC. Satellite Services achieved record quarterly revenue of $312 million.<\/p>\n

The Governments Systems business was impacted by delays in NSA certification of encryption products, and supply chain shortages. Government Systems revenue was $253 million, a decrease of 7% year over year.<\/p>\n

On a conference call, CEO Mark Dankberg admitted the results were a mixed bag, but was optimistic that things are ready for a turnaround. Dankberg said he believes \u201cthis is the low point in terms of quarterly financial performance and we expect solid sequential organic growth throughout the rest of the year.\u201d<\/p>\n

He said Viasat expects \u201ctransient bottlenecks\u201d that were more of a factor in the fourth quarter and the first quarter will be resolved and overall support year-over-year and longer term guidance.<\/p>\n

With Viasat working to close its deal to acquire Inmarsat, and awaiting launch of the first ViaSat-3 satellite, it is set to be a busy year for the operator. Dankberg said on an investor conference call that the ViaSat-3 programs were making \u201cgood progress\u201d as the first satellite enters final assembly and mechanical environment testing. The second payload is now with Boeing for spacecraft integration.<\/p>\n

The company is targeting launch of ViaSat-3 Americas satellite in the third quarter of its fiscal year 2023, (October \u2013 December 2022), and to start commercial service in the fourth fiscal quarter (January \u2013 March 2023).<\/p>\n

Dankberg remains a big believer in the IFC market for Viasat. He said on the conference call that he believes that the market has seen roughly 15% to 20% penetration of existing aircraft, so he believes there is still a lot of growth to be had in this market as a whole. Dankberg expects ViaSat-3 will have a much stronger early impact on the mobility businesses than either the ViaSat 1 or 2 satellites. \u201cI think we will get more contribution early on from the mobility businesses with ViaSat-3 than we did with 1 or 2,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Viasat reported a small increase in overall revenues, but a net loss for the company\u2019s first quarter 2023 results, released Aug. 8. Revenues for the three months was $678 million, a 2% increase compared to the same stage last year. However, the company reported a net loss of $22 million for the period. However, there […]<\/p>\n","protected":false},"author":1,"featured_media":51870,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-54943","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/54943"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=54943"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/54943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media\/51870"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=54943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=54943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=54943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}