Viasat Announces Second Quarter Fiscal Year 2020 Results

  • Second quarter fiscal year 2020 revenues grew 14% year-over-year to a record $592.3 million, generating net income of $3.2 million, non-GAAP net income of $21.0 million and Adjusted EBITDA of $118.2 million, an increase of 53% year-over-year
  • New quarterly highs in segment service and product revenues drove Satellite Services and Government Systems segment revenues to record levels of $205.7 million and $298.5 million, respectively
  • Mobile and international fixed broadband markets have grown to represent over 24% of the Satellite Services segment revenues for the twelve months ended September 30, 2019
  • Viasat named to Fortune Magazine's 2019 Change the World list, highlighting the Company’s ability to connect the unconnected with an affordable, economically-sustainable broadband solution in emerging markets

CARLSBAD, Calif., November 7, 2019 – -Viasat, Inc (NASDAQ: VSAT), a global communications company, today announced financial results for the fiscal second quarter ended September 30, 2019.

“Sustained momentum in Satellite Services and Government Systems segments delivered record results and continued margin expansion,” said Mark Dankberg, Viasat chairman and CEO. “Our latest in-flight connectivity (IFC) wins, including our first entry into South America with Azul and expansion to EL AL’s full global fleet, are further proof points of our ability to leverage our leading North American reputation globally. We are focused on converting a healthy pipeline for global IFC opportunities, propelled by continued progress on the ViaSat-3 constellation, into sustained growth and market leadership. Record backlog, a solid quarterly book-to-bill of 117%, gains in fixed broadband subscriber average revenue per user (ARPU), mobile tail count, an expanding government segment addressable market, and leading competitive positions in attractive broadband vertical and geographic markets all create opportunities for continued growth.”

             
             

Financial Results

           

(In millions, except per share data)

Q2 FY20

Q2 FY19

Year-Over-Year

Change

First 6 Months

FY20

First 6 Months

FY19

Year-Over-Year

Change

Revenues

$592.3

$517.5

14%

$1,129.3

$956.3

18%

Net loss1  

$3.2

($25.7)

*

($8.3)

($59.7)

(86)%

Non-GAAP net income (loss)1 

$21.0

($9.0)

*

$27.4

($26.4)

*

Adjusted EBITDA

$118.2

$77.5

53%

$215.0

$122.5

76%

Diluted per share net loss1

$0.05

($0.43)

*

($0.14)

($1.00)

(86)%

Non-GAAP diluted per share net income (loss)1

$0.33

($0.15)

*

$0.44

($0.44)

*

Fully diluted weighted average shares2

62.8

59.7

5%

61.2

59.5

3%

             

New contract awards3

$692.3

$738.6

(6)%

$1,198.1

$1,308.3

(8)%

Sales backlog

$1,944.9

$1,911.7

2%

$1,944.9

$1,911.7

2%

             
             

Segment Results

           

(In millions)

Q2 FY20

Q2 FY19

Year-Over-Year

Change

First 6 Months

FY20

First 6 Months

FY19

Year-Over-Year

Change

Satellite Services

           

  New contract awards3

$212.6

$164.7

29%

$404.6

$318.2

27%

  Revenues

$205.7

$163.0

26%

$402.5

$316.5

27%

  Operating (loss) profit5

$5.1

($24.8)

*

$3.0

($54.8)

*

  Adjusted EBITDA

$70.7

$39.9

77%

$137.8

$74.1

86%

             

Commercial Networks

           

  New contract awards

$62.1

$123.2

(50)%

$161.1

$237.3

(32)%

  Revenues 

$88.0

$114.5

(23)%

$167.0

$209.6

(20)%

  Operating loss5

($46.8)

($39.2)

19%

($96.6)

($86.2)

12%

  Adjusted EBITDA

($31.8)

($24.6)

29%

($67.0)

($57.4)

17%

             

Government Systems

           

  New contract awards

$417.6

$450.7

(7)%

$632.4

$752.8

(16)%

  Revenues 

$298.5

$240.0

24%

$559.7

$430.2

30%

  Operating profit5

$62.1

$44.9

38%

$108.0

$69.8

55%

  Adjusted EBITDA

$79.3

$62.2

27%

$144.1

$105.7

36%

             

1 Attributable to Viasat, Inc. common stockholders.

2 As the three months ended September 30, 2018 and six months ended September 30, 2019 and 2018 financial information resulted in a net loss, the weighted average number of shares used to calculate basic and diluted net loss per share is the same, as diluted shares would be anti-dilutive. As the six months ended September 30, 2019 financial information resulted in a non-GAAP net income, 62.6 million diluted weighted average number of shares were used to calculate non-GAAP diluted net income per share.

Awards exclude future revenue under recurring consumer commitment arrangements.

4 Amounts include certain backlog adjustments due to contract changes and amendments. Our backlog includes contracts with subscribers for fixed broadband services in our satellite services segment. Backlog does not include anticipated purchase orders and requests for the installation of in-flight connectivity systems or future recurring in-flight internet service revenues under our commercial in-flight internet agreements in our Commercial Networks and Satellite Services segments, respectively.

5 Before corporate and amortization of acquired intangible assets.

* Percentage not meaningful.

Company Highlights

  • Named #12 on Fortune Magazine's 2019 Change the World list
  • Named Global Satellite Business of the Year at the World Satellite Business Week 2019 conference
  • Named a 2019 Top San Diego Employer Brands in Hired’s third annual Brand Health Report
  • Awarded one of the Best Places to Work for Disability Inclusion by the Disability Equality Index®
  • Won Intellectual Property lawsuit against Acacia Communications
  • Opened two offices in Brazil: São Paulo and Brasilia

Satellite Services

Q2 Fiscal Year 2020 Financials

  • Revenues reached a new high of $205.7 million, a 26% increase year-over-year and a 5% increase sequentially; which marked the seventh sequential quarter of revenue gains
  • New contract awards increased 29% year-over-year to $212.6 million
  • Segment operating income equaled $5.1 million, compared to a $24.8 million operating loss in the prior year period
  • Adjusted EBITDA increased by 77% year-over-year to $70.7 million

Business Highlights

  • U.S. fixed broadband subscriber ARPU reached a record $86.94, an increase of 17% year-over-year; as a higher percentage of the 587,000 subscriber base selected the Company’s premium broadband service plans
  • Since launch, Community Wi-Fi service in Mexico has reached more than 1.8 million people; trial programs launched in the State of São Paulo, Brazil
  • Viasat has now deployed over 10,000 sites in Brazil, and received a follow-on order for over 1,000 additional Governo Eletrônico - Serviço de Atendimento ao Cidadão (GESAC) sites
  • In business internet, Viasat announced telecom channel partners have access to sell ViaSat-2 business internet services in Mexico, Puerto Rico and the U.S. Virgin Islands; demonstrated ViaSat-2 business internet service availability in Jamaica with partner ReadyNet; and deployed satellite internet services to schools, government institutions and health clinics participating in Mexico's 'Internet para Todos' program
  • IFC service now active on 1,353 commercial aircraft – up 51% year-over-year; as of the end of second quarter fiscal year 2020 Viasat expects to install its IFC equipment on over 600 additional commercial aircraft under existing contracts
  • Announced new content partner deals with destination outfits, InflightFlix and GetYourGuide, to drive new ancillary revenue streams for airline customers
  • New IFC contracts during the quarter: SAS selected Viasat IFC for its new Airbus fleet additions of A321LR and A330-300E; and JetBlue selected Viasat IFC for its Airbus A220-300 aircraft (reported on last earning’s call)
  • New IFC contracts disclosed after the close of the second quarter of fiscal year 2020:
    • Azul selected Viasat IFC to deliver in-flight Wi-Fi service on more than 100 combined Airbus A320neo and Embraer E195-E2 aircraft; and
    • EL AL Israel Airlines committed to go full fleet with Viasat, adding the latest Viasat equipment to its new Boeing 777 widebody and remaining Boeing 737 narrowbody aircraft

Fiscal Year-to-Date Summary

  • Fiscal year-to-date, Satellite Services segment reached record revenue levels; operating profit and Adjusted EBITDA performance for the segment were higher compared to the same period last year reflecting the same year-over-year impacts seen in the second quarter of fiscal year 2020.

Commercial Networks

Q2 Fiscal Year 2020 Financials

  • Revenues were $88.0 million, a 23% decrease year-over-year due to the accelerated American Airlines install schedule in the prior-year period; sequentially, segment revenues were up 11% on record revenues in the Company’s antenna systems product lines
  • New contract awards were at $62.1 million, a 50% year-over-year decrease
  • Segment operating loss was 19% higher and Adjusted EBITDA was lower compared to the same period last year due to expected reductions in IFC terminal deliveries, higher research and development costs and increased selling, general and administrative expenses

Business Highlights

  • Progress continued on the ViaSat-3 spacecraft program: completed initial acceptance of the ViaSat-3 payload module for Europe, Middle East and Africa (EMEA); both ViaSat-3 (Americas) and ViaSat-3 (EMEA) payload modules are in the Viasat high bay in Tempe, AZ
  • Progress continued on the ViaSat-3 ground infrastructure program with major European fiber providers having been selected
  • Viasat’s new fully redundant Satellite Control Center took control of the WildBlue-1 satellite in September 2019; remaining satellites expected to begin to transition in calendar year 2020

Fiscal Year-to-Date Summary

  • • Fiscal year-to-date, Commercial Networks segment revenue was lower, operating loss was higher and Adjusted EBITDA was lower compared to the same period last year, reflecting year-over-year impacts similar to those seen in the second quarter of fiscal year 2020.

Government Systems

Q2 Fiscal Year 2020 Financials

  • Revenues were a new high of $298.5 million, an increase of 24% year-over-year led by expanding positions in the Company’s data links, satcom and mobile networking product lines
  • New contract awards were at $417.6 million, generating a 1:4 to 1 book-to-bill ratio, and record segment backlog of $991.6 million. Backlog excludes the unexercised ceiling on Indefinite Delivery/Indefinite Quantity (ID/IQ) contracts
  • Operating profit increased 38% year-over-year to a new high of $62.1 million
  • Adjusted EBITDA increased 27% to a record $79.3 million

Business Highlights

  • Awarded an ID/IQ contract by the Naval Information Warfare Systems Command for the purchase of supplemental units for Viasat's KOR-24A Small Tactical Terminal
  • Announced expansive line of network encryption products available for use by all Five Eyes partner nations: U.S., UK, Canada, Australia and New Zealand
  • Upgraded the North Atlantic Treaty Organization's Ultra-High Frequency satellite communications control station to comply with new Integrated Waveform on time and under budget
  • Demonstrated a Viasat Hybrid Adaptive Network concept at AFWERX Vegas, a U.S. Air Force event focused on multi-network, multi-orbit satellite communications system

Fiscal Year-to-Date Summary

  • Fiscal year-to-date, Government Systems segment revenue was higher, and operating profit and Adjusted EBITDA performance for the segment were higher compared to the same period last year reflecting strong performance across the segment's product lines, especially government satellite communication systems, tactical data links, tactical satellite communications radio products and global mobility/intelligence surveillance and reconnaissance offerings.

Conference Call

Viasat will host a conference call to discuss the second quarter fiscal year 2020 results. Details follow:

DATE/TIME Thursday, November 7, 2019 at 4:30 p.m. Eastern Time
DIAL-IN: (877) 640-9809 in the U.S.; (914) 495-8528 international
WEBCAST investors.viasat.com.
REPLAY: Available from 7:30 p.m. Eastern Time on Thursday, November 7 until 11:59 p.m. Eastern Time on Friday, November 8 by dialing (855) 859-2056 for U.S. callers and (404) 537-3406 for international callers; conference ID 6058479.

About Viasat

Viasat is a global communications company that believes everyone and everything in the world can be connected. For more than 30 years, Viasat has helped shape how consumers, businesses, governments and militaries around the world communicate. Today, the Company is developing the ultimate global communications network to power high-quality, secure, affordable, fast connections to impact people’s lives anywhere they are—on the ground, in the air or at sea. To learn more about Viasat, visit: www.viasat.com, go to Viasat’s Corporate Blog, or follow the Company on social media at: Facebook, Instagram, LinkedIn, Twitter or YouTube.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. Forward-looking statements include, among others, statements that refer to opportunities, growth and outlook for fiscal year 2019 and beyond; satellite construction and launch activities, including commencement of construction of a third ViaSat-3 class satellite and completion and benefits of a global ViaSat-3 constellation; the performance and benefits of our ViaSat-2 and ViaSat-3 class satellites; the expected completion, capacity, service, coverage, service speeds, availability and other features of our satellites, and the timing, cost, economics and other benefits associated therewith; the development and performance of equipment and hardware for the ViaSat-2 and ViaSat-3 class satellite platforms, the timing thereof and the benefits associated therewith; domestic and international expansion plans, including with respect to the expansion of our footprint and service offerings in Mexico; the realization of IFC and IFEC investments and the number of IFC and IFEC systems expected to be installed under existing contracts with commercial airlines; the impacts of new contracts entered into with, and the roll-out, ramp-up and uptake of products and services by, and services to be offered by, our airline partners and other customers; and the expected plans and benefits of our strategic partnering arrangement with Ubix. Readers are cautioned that actual results could differ materially and adversely from those expressed in any forward-looking statements. Factors that could cause actual results to differ include: our ability to realize the anticipated benefits of the ViaSat-2 and ViaSat-3 class satellites; unexpected expenses related to our satellite projects; our ability to successfully implement our business plan for our broadband satellite services on our anticipated timeline or at all; risks associated with the construction, launch and operation of our satellites, including the effect of any anomaly, operational failure or degradation in satellite performance; our ability to realize the anticipated benefits of our acquisitions or strategic partnering arrangements; our ability to successfully develop, introduce and sell new technologies, products and services; the number of purchase orders that are submitted and accepted for the installation of IFC or IFEC systems with respect to aircraft under contract; audits by the U.S. government; changes in the global business environment and economic conditions; delays in approving U.S. government budgets and cuts in government defense expenditures; our reliance on U.S. government contracts, and on a small number of contracts which account for a significant percentage of our revenues; reduced demand for products and services as a result of continued constraints on capital spending by customers; changes in relationships with, or the financial condition of, key customers or suppliers; our reliance on a limited number of third parties to manufacture and supply our products; increased competition; introduction of new technologies and other factors affecting the communications and defense industries generally; the effect of adverse regulatory changes (including changes affecting spectrum availability or permitted uses) on our ability to sell products and services; orbital arc congestion affecting availability of Ka-band spectrum; the effect of changes in the way Ka-band spectrum is used by others; our level of indebtedness and ability to comply with applicable debt covenants; our involvement in litigation, including intellectual property claims and litigation to protect our proprietary technology; and our dependence on a limited number of key employees. In addition, please refer to the risk factors contained in our SEC filings available at www.sec.gov, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. We undertake no obligation to update or revise any forward-looking statements for any reason.

Use of Non-GAAP Financial Information

To supplement Viasat's consolidated financial statements presented in accordance with generally accepted accounting principles (GAAP), ViaSat uses non-GAAP net income (loss) attributable to Viasat Inc. and Adjusted EBITDA, measures Viasat believes are appropriate to enhance an overall understanding of Viasat's past financial performance and prospects for the future. We believe the non-GAAP results provide useful information to both management and investors by excluding specific expenses that we believe are not indicative of our core operating results. In addition, since we have historically reported non-GAAP results to the investment community, we believe the inclusion of non-GAAP numbers provides consistency in our financial reporting and facilitates comparisons to the Company's historical operating results. Further, these non-GAAP results are among the primary indicators that management uses as a basis for evaluating the operating performance of our segments, allocating resources to such segments, planning and forecasting in future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for measures of financial performance prepared in accordance with GAAP. A reconciliation of specific adjustments to GAAP results is provided in the tables below.

Copyright © 2019 Viasat, Inc. All rights reserved. Viasat is a registered trademark of Viasat, Inc. The Viasat logo is a trademark of Viasat, Inc. All other product or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.

Condensed Consolidated Statements of Operations

(Unaudited)

(In thousands, except per share data)

               
 

Three months ended 

 

Nine months ended

 

September 30, 2019

 

September 30, 2018

 

September 30, 2019

 

September 30, 2018

               

Revenues:

             

Product revenues

$                  306,830

 

$                  280,435

 

$                  570,445

 

$                  498,564

Service revenues

285,426

 

237,039

 

558,848

 

457,779

Total revenues

592,256

 

517,474

 

1,129,293

 

956,343

               

Operating expenses:

             

Cost of product revenues

223,075

 

216,900

 

420,015

 

390,348

Cost of service revenues

187,024

 

175,230

 

374,543

 

346,662

Selling, general and administrative

127,391

 

113,120

 

252,523

 

225,762

Independent research and development

34,314

 

31,360

 

67,788

 

64,733

Amortization of acquired intangible assets

2,027

 

2,435

 

4,064

 

4,888

Income (loss) from operations

18,425

 

(21,571)

 

(10,360)

 

(76,050)

Interest (expense) income, net

(9,127)

 

(14,045)

 

(19,376)

 

(25,333)

 

 

 

 

 

 

 

 

Loss before income taxes 

(9,298)

 

(35,616)

 

(9,016)

 

(101,383)

(Provision for) benefit from income taxes

(2,390)

 

(9,704)

 

4,820

 

38,909

Equity in income of unconsolidated affiliate, net

1,154

 

314

 

2,521

 

1,379

Net loss

8,062

 

(25,598)

 

(1,675)

 

(61,095)

Less: net loss attributable to noncontrolling interests, net of tax

4,868

 

126

 

6,599

 

(1,361)

Net loss attributable to Viasat Inc. 

$                  3,194

 

$                  (25,724)

 

$                  (8,274)

 

$                  (59,734)

               

Diluted net loss per share attributable to Viasat Inc. common stockholders

$                      (0.05)

 

$                      (0.43)

 

$                      (0.14)

 

$                      (1.00)

Diluted common equivalent shares

62,761

 

59,734

 

61,200

 

59,470

               

AN ITEMIZED RECONCILIATION BETWEEN NET INCOME (LOSS) ATTRIBUTABLE TO VIASAT INC.

         

ON A GAAP BASIS AND NON-GAAP BASIS IS AS FOLLOWS:

             

(In thousands, except per share data)

Three months ended 

 

Nine months ended

 

September 30, 2019

 

September 30, 2018

 

September 30, 2019

 

September 30, 2018

               

GAAP net loss attributable to Viasat Inc.

$                  3,194 

 

$                  (25,724)

 

$                  (8,274)

 

$                  (59,734)

Amortization of acquired intangible assets

2,027

 

2,435

 

4,064

 

4,888

Stock-based compensation expense

21,101

 

19,377

 

42,328

 

38,503

 

 

 

 

 

 

 

 

Income tax effect (1)

(5,329)

 

(5,042)

 

(10,747)

 

(10,087)

Non-GAAP net income (loss) attributable to Viasat Inc.

$                      20,993

 

$                    (8,954)

 

$                  27,371

 

$                      (26,430)

Non-GAAP diluted net income (loss) per share attributable to Viasat Inc. common stockholders

$                        0.33

 

$                      (0.15)

 

$                      0.44

 

$                        (0.44)

Diluted common equivalent shares

62,761

 

59,734

 

62,636

 

59,470

               

(1)The income tax effect is calculated using the tax rate applicable for the non-GAAP adjustments.

               

AN ITEMIZED RECONCILIATION BETWEEN NET INCOME (LOSS) ATTRIBUTABLE TO VIASAT INC.

         

AND ADJUSTED EBITDA IS AS FOLLOWS:

             

(In thousands)

 

Three months ended 

 

 

Nine months ended

 

September 30, 2019

 

September 30, 2018

 

September 30, 2019

 

September 30, 2018

               

GAAP net loss attributable to Viasat Inc.

$                  3,194

 

$                  (25,724)

 

$                  (8,274)

 

$                  (59,734)

Provision for (benefit from) income taxes

2,390

 

(9,704)

 

(4,820)

 

(38,909)

Interest expense (income), net

9,127

 

14,045

 

19,376

 

25,333

Depreciation and amortization

82,338

 

79,474

 

166,350

 

157,271

Stock-based compensation expense

21,101

 

19,377

 

42,328

 

38,503

 

 

 

 

 

 

 

 

Adjusted EBITDA

$                  118,150

 

$                    77,468

 

$                  214,960

 

$                  122,464

AN ITEMIZED RECONCILIATION BETWEEN SEGMENT OPERATING PROFIT (LOSS) BEFORE

CORPORATE AND AMORTIZATION OF ACQUIRED INTANGIBLE ASSETS AND ADJUSTED EBITDA IS AS FOLLOWS:

(In thousands)

                                 
   

Three months ended September 30, 2019

 

Three months ended September 30, 2018 

   

Satellite

Services

 

Commercial

Networks

 

Government

Systems

 

Total

 

Satellite

Services

 

Commercial

Networks

 

Government

Systems

 

Total

Segment operating (loss) profit before corporate and amortization of acquired intangible assets

 

$ 5,118

 

$      (46,781)

 

$        62,115

 

$     20,452

 

$     (24,839)

 

$      (39,197)

 

$        44,900

 

$ (19,136)

Depreciation(2)

 

50,104

 

5,826

 

10,412

 

66,342

 

50,823

 

5,502

 

8,872

 

65,197

Stock-based compensation expense

 

6,405

 

7,273

 

7,423

 

21,101

 

5,733

 

6,758

 

6,886

 

19,377

Other amortization

 

7,907

 

1,879

 

4,183

 

13,969

 

7,051

 

2,328

 

2,463

 

11,842

Equity in income of unconsolidated affiliate, net

 

1,154

 

-

 

-

 

1,154

 

314

 

-

 

-

 

314

Noncontrolling interests

 

-

 

-

 

(4,868)

 

(4,868)

 

783

 

-

 

(909)

 

(126)

Adjusted EBITDA 

 

$   70,688

 

$      (31,803)

 

$        79,265

 

$ 118,150

 

$   39,865

 

$      (24,609)

 

$        62,212

 

$   77,468

                                 
   

Nine months ended September 30, 2019 

 

Nine months ended September 30, 2018

   

Satellite

Services

 

Commercial

Networks

 

Government

Systems

 

Total

 

Satellite

Services

 

Commercial

Networks

 

Government

Systems

 

Total

Segment operating (loss) profit before corporate and amortization of acquired intangible assets

 

$ 3,048

 

$    (96,642)

 

$      108,018

 

$ 14,424

 

$   (54,775)

 

$    (86,205)

 

$        69,818

 

$ (71,162)

Depreciation(2)

 

103,698

 

11,345

 

20,101

 

135,144

 

100,833

 

10,995

 

17,162

 

128,990

Stock-based compensation expense

 

12,892

 

14,661

 

14,775

 

42,328

 

11,026

 

13,864

 

13,613

 

38,503

Other amortization

 

15,616

 

3,677

 

7,849

 

27,142

 

13,960

 

3,995

 

5,438

 

23,393

Equity in income of unconsolidated affiliate, net

 

2,521

 

-

 

-

 

2,521

 

1,379

 

-

 

-

 

1,379

Noncontrolling interests

 

-

 

-

 

(6,599)

 

(6,599)

 

1,707

 

-

 

(346)

 

1,361

Adjusted EBITDA 

 

$ 137,775

 

$      (66,959)

 

$      144,144

 

$ 214,960

 

$ 74,130

 

$    (57,351)

 

$      105,685

 

$ 122,464

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)

                 
 

As of

 

As of

   

As of

 

As of

Assets

September 30, 2019

 

March 31, 2019

 

Liabilities and Equity

September 30, 2019

 

March 31, 2019

                 

Current assets:

       

 Current liabilities: 

     

Cash and cash equivalents

$                    87,045

 

$            261,701

 

 Accounts payable 

$                  141,746

 

$          157,275

Accounts receivable, net

294,067

 

300,307

 

 Accrued liabilities 

330,011

 

308,268

Inventories

269,517

 

234,518

 

 Current portion of long-term debt 

29,962

 

19,937

Prepaid expenses and other current assets

105,004

 

90,646

 

 Total current liabilities 

501,719

 

485,480

Total current assets

755,633

 

887,172

 

 Senior notes 

1,284,329

 

1,282,898

         

 Other long-term debt 

159,636

 

110,005

         

 Non-current operating lease liabilities(4)

296,707

 

-

         

 Other liabilities 

118,824

 

120,826

         

 Total liabilities 

2,361,215

 

1,999,209

Property, equipment and satellites, net

2,363,916

 

2,125,290

         

Operating lease right-of-use assets(4)

319,698

 

-

 

Other acquired intangible assets, net

17,967

 

22,301

 

 Total Viasat Inc. stockholders' equity 

1,990,907

 

1,907,748

Goodwill

121,223

 

121,719

 

 Noncontrolling interest in subsidiaries 

14,929

 

8,330

Other assets

788,614

 

758,805

 

 Total equity 

2,005,836

 

1,916,078

Total assets

$               4,367,051

 

$       3,915,287

 

 Total liabilities and equity 

$               4,367,051

 

$       3,915,287

Post Type:

Press Release