Q1 2025 Viasat Inc Earnings Call Transcript
Key Points
- Viasat Inc (VSAT) reported a 6% year-over-year combined revenue growth and a 16% increase in combined adjusted EBITDA, driven by defense and advanced technologies and aviation.
- Q1 FY25 revenue was $1.1 billion, up 44% compared to $780 million in Q1 FY24, indicating strong financial performance.
- Net loss improved to $33 million in Q1 FY25 from $77 million in Q1 FY24, primarily due to improved operating performance.
- Viasat Inc (VSAT) ended the quarter with $2.9 billion of liquidity, including $1.8 billion in cash and cash equivalents.
- The company raised the low end of its FY25 revenue and adjusted EBITDA outlook, reflecting strong Q1 results and confidence in market positions and pipeline.
- US fixed broadband revenue declined as expected, driven by fewer residential subscribers, impacting overall revenue growth.
- OEM delivery delays and airline overcapacity are expected to impact quarter-over-quarter results in the aviation segment.
- Q1 FY25 communication services combined revenue was down 2% year over year, driven by the expected decline in US fixed broadband services and segment product revenue.
- The ViaSat-3 F1 anomaly continues to pose challenges, with the company only able to utilize up to 10% of the satellite's capacity.
- Q1 FY25 adjusted EBITDA growth was partially offset by higher interest and tax expenses, impacting net profitability.
Please stand by. Your program is about to begin. My name is Meg, and I will be your conference facilitator this afternoon. At this time, I would like to welcome everyone to ViaSat's first-quarter fiscal year 2025 earnings results conference call. (Operator Instructions)
I would now like to turn the call over to Ms. Lisa Curran, Vice President of Investor Relations. Ms. Curran, you may begin your conference.
Thanks, Meg. We will present certain non-GAAP financial measures on today's call. Information required by the SEC relating to these non-GAAP financial measures is available in our Q1 FY25 shareholder letter on the Investor Relations section of our website. Please note that to provide a more meaningful comparison of our results of operations year over year, results for the first quarter of FY 2025 are compared against supplemental combined results for the prior year period. This supplemental combined results are based on the combination of Viasat's historical reported results with Inmarsat
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