Viasat Q2 FY24 rev $1.2B (+85% YoY), net loss $767M on $900M satellite impairment; guides FY24 rev $4.1-4.25B

VIASAT INC

2024-Q2 EPS reported -$7.75 revenue$2,005,206,000

Net loss $767M, driven by $900M net impairment charge on ViaSat-3 F1, Inmarsat-6 F2, and ViaSat-4 write-downs.
Adjusted EBITDA $486M (+210% YoY); revenue $1.2B (+85% YoY) including full quarter of Inmarsat ($427M).
Announced workforce reduction of 800; expects $100M annualized cash savings by early FY2025.
FY2024 guidance: revenue $4.1-4.25B; Adj. EBITDA $1.25-1.30B (excl. litigation benefit); capex to drop in FY2025.
Net leverage 3.7x; liquidity $3.3B; free cash flow inflection point target restored to H1 CY2025.

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 the second quarter of fiscal year 2024 results: revenue $1.2 billion, net income $767 million. Guidance reaffirmed.

Period: the second quarter of fiscal year 2024
Revenue: $1.2 billion
Net income: $767 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

For Q2 FY2024, we earned revenue of $1.2 billion, an 85% YoY increase compared to revenue from continuing operations of $664 million in the prior year quarter. Net loss for the quarter was $767 million, compared to a $70 million loss from continuing operations in the prior year period.

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Source: SEC EDGAR

accession 0001193125-23-273512

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