Viasat earnings report recap for Q2 fiscal year 2024
Key highlights from Viasat’s earnings report
- We achieved 16% core YoY growth (including Inmarsat’s results in the prior year period and excluding non-recurring litigation benefits in both periods).
- Viasat generated $219 million in operating cash flow during the quarter, an increase of $30 million YoY and $115 million sequentially
- With the rapid integration of the Inmarsat business, we have begun to leverage the scale of our global mobility services and achieve the economic benefits envisioned by the acquisition
- We chose to cancel the ViaSat-4 satellite, recognizing the enlarged company’s broader set of space assets and greater focus on the mobility and government markets. It has also written off Inmarsat-6 F2, for which it has submitted an insurance claim for $348 million.
- For FY2024, Viasat expects revenue growth in the high single-digit percentages over FY2023 for the combined company, with revenue of between $4.10 billion and $4.25 billion (which includes 10 months of Inmarsat inclusion)
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