Viasat Q1 FY24 revenue $780M (+36% YoY), net loss $77M; Inmarsat acquisition adds $134M revenue

VIASAT INC

2023-Q1 EPS reported -$0.83 revenue$779,791,000

Adjusted EBITDA $183M (+87% YoY); includes $72M from one month of Inmarsat contributions.
Inmarsat standalone full quarter revenue ~$400M (+10% YoY), Adjusted EBITDA ~$220M.
Government Systems revenue $233M (+55% YoY) driven by information assurance products.
ViaSat-3 Americas (F1) antenna anomaly under investigation; existing customers unaffected, mitigation via Inmarsat fleet and Ka-band partner contracts.
Combined net leverage ~3.9x; FY24 outlook: high-single-digit revenue growth, Adjusted EBITDA growth expected; free cash flow positive target H2 2025.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VIASAT INC reported Q1 FY2024 results: revenue $780 million, net income ($77 million).

Period: Q1 FY2024
Revenue: $780 million
Net income: ($77 million)
Result: reported results

Exact text from the filing

For Q1 FY2024 we earned revenue of $780 million, a 36% year-over-year (YoY) increase compared to revenue from continuing operations of $575 million in the prior year quarter. Net loss of $77 million for the quarter was driven by higher interest expense, acquired intangible amortization and non-recurring acquisition-related expenses.

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Source: SEC EDGAR

accession 0001193125-23-207367

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