VSAT Stock Recent News

Viasat, Inc. (NASDAQ:VSAT ) Q2 2024 Results Conference Call November 8, 2023 5:30 PM ET Company Participants Mark Dankberg - Chairman & Chief Executive Officer Guru Gowrappan - President Shawn Duffy - Chief Financial Officer Robert Blair - General Counsel Conference Call Participants Phil Cusick - JPMorgan Mike Crawford - B. Riley Securities Ric Prentiss - Raymond James Chris Quilty - Quilty Space Edison Yu - Deutsche Bank Louie DiPalma - William Blair Operator Good day everyone and welcome to Viasat's FY '24 Second Quarter Earnings Conference Call.

Viasat reported second-quarter revenue on Wednesday that beat Wall Street estimates on strength in the segment that offers satellite-based broadband services.

Viasat Inc. VSAT, -4.39% said Thursday that it will cut about 800 jobs, or 10% of its workforce, which is expected to save the communications satellite company about $100 million a year. The jobs cuts will be spread across the business divisions and geographies, and comes as the company continues to integrate Inmarsat, the acquisition of which closed on May 31.

The satellite-connectivity specialist spent its week signing deals. It announced three new arrangements with partners.

In fiscal 2025, Viasat (VSAT) expects to record synergies to the tune of $80 million in annual operating expenses and around $110 million in annual capital expenditures from the Inmarsat buyout.

ViaSat (VSAT) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Viasat shares took off after the satellite communications company said it expects to achieve positive free cash flow during the first half of calendar 2025, rather than the second half, excluding the positive impact of satellite insurance proceeds. The Carlsbad, California-based company said it has determined it will not need to replace its ViaSat-3 F1 satellite which encountered a mechanical deployment issue to meet the needs of its mobility customers.

Viasat said it expects to recover less than 10% of the planned throughput on ViaSat-3 F1, its satellite that malfunctioned during deployment in July, but it was confident it could meet the needs of its customers without replacing it.

Viasat said its current and imminent satellite fleet – as well as support from third parties – "will meet the current and future needs" of its customers.

Viasat's (VSAT) hardware encrypted solid state drive DARC-ssd 600 receives successful evaluation for classified data protection.