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Viasat Inc. (NASDAQ: VSAT) is a global communications company committed to ensuring that consumers, businesses, government agencies, and military operations remain connected through fast and secure internet and communication services. With a significant focus on satellite-based technologies, Viasat delivers high-speed broadband services, innovative communication systems, and secure government communication solutions through its three main segments: Satellite Services, Commercial Networks, and Government Systems.
Satellite Services: Viasat's satellite services segment provides satellite-based high-speed broadband to a diverse range of clients, including residential consumers, corporate enterprises, and commercial airlines. If you've ever used in-flight Wi-Fi on airlines such as JetBlue or United, you've experienced Viasat's connectivity solutions firsthand.
Commercial Networks: This segment focuses on the development of end-to-end communication systems and connectivity solutions. It supports various markets by providing robust and scalable communication infrastructures designed to meet both current and future demands.
Government Systems: Viasat's government systems segment specializes in producing secure, network-centric communication systems tailored for military and government applications. These solutions ensure that critical communication needs are met with the highest standards of security and reliability.
Viasat generates a substantial portion of its revenue from the United States, while also expanding its market reach across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region. The company’s recent achievements include major partnerships and projects that highlight its growing influence in the global communications market.
Recent Achievements and Projects:
- Royal Jordanian Airlines: Viasat has been selected to provide high-speed in-flight Wi-Fi across multiple fleets of Royal Jordanian Airlines, enhancing passenger experience on both short-haul and long-haul routes.
- Korean Air: Viasat will extend its in-flight connectivity services to an additional 40 aircraft in Korean Air's fleet, bringing the total to 70 aircraft equipped with Viasat's high-speed connectivity solutions.
- NexusWave: Viasat's subsidiary, Inmarsat Maritime, launched NexusWave, a fully managed connectivity service that integrates multiple high-speed networks to provide seamless global coverage for maritime operations.
- Partnership with Azercosmos: Viasat is collaborating with Azercosmos to bring its reliable L-band satellite services to Azerbaijan, expanding connectivity for industrial applications in remote locations.
- Energy Services: Viasat has launched an enhanced managed communications service for the oil and gas sector, incorporating low Earth orbit (LEO) satellite capacity to deliver flexible and robust connectivity solutions.
Financially, Viasat continues to demonstrate strong performance, with regular updates on its earnings and strategic initiatives. The company recently completed its acquisition of Inmarsat, further solidifying its position as a global leader in satellite communications.
For career opportunities at Viasat, visit the Viasat careers page.
Viasat (NASDAQ: VSAT) announced it will release its second quarter fiscal year 2025 financial results on Wednesday, November 6, 2024, after market close. The company will publish a letter to shareholders on its Investor Relations website and host a conference call and webcast at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time. Interested parties can join the conference call by dialing (800) 715-9871 in the U.S. or +1 (646) 307-1963 internationally, using conference ID 6994184. The webcast will be available on Viasat's Investor Relations website and archived for approximately one month after the call.
Viasat (NASDAQ: VSAT) and BSNL have successfully demonstrated direct-to-device satellite connectivity in India for the first time at the India Mobile Congress. The trial showcased two-way messaging and SoS messaging using a commercial Android smartphone enabled for non-terrestrial network (NTN) connectivity, connecting to Viasat's geostationary L-band satellite.
This technology allows everyday devices to connect seamlessly to both terrestrial and satellite coverage without dedicated hardware. Viasat, a founding member of MSSA, is working with partners like BSNL to expand satellite services on consumer and IoT devices globally. The demonstration highlights the potential for enhancing connectivity in areas with terrestrial coverage, improving efficiency in production and supply chains, and supporting automotive applications for safety and maintenance.
Viasat, Inc. (NASDAQ: VSAT) has announced that its ViaSat-3 F1 (VS3 F1) satellite is now delivering service to the U.S. Marine Corps, marking the first use of the ViaSat-3 network by a government customer. The Marine Wing Communications Squadron 38 and the 3rd Marine Littoral Regiment are the first military units to use the service. This follows the satellite's recent deployment for commercial airline customers over North America.
The ViaSat-3 constellation, which will include two additional satellites, is designed to provide high-throughput, flexible broadband connectivity for U.S. and global coalition missions. Despite an antenna deployment anomaly that reduced overall capacity, the satellite still supports high-speed broadband services. The two additional ViaSat-3 satellites are in late stages of production and testing.
Viasat Inc. (NASDAQ: VSAT) has unveiled major enhancements to its satellite network and service model for business aviation in-flight connectivity. The new JetXP program, initially available to Jet ConneX customers, offers uncapped speeds, expanded capacity, and increased network prioritization. This move comes in response to evolving customer expectations, shifting away from traditional speed-based plans to a focus on overall experience.
Viasat's 2024 survey revealed that reliability, coverage, consistency, value for money, and overall experience are now more important than speed alone. The JetXP program has shown positive results in customer trials, improving performance in applications like bulk file transfers, real-time entertainment, and web browsing. As the leading provider of in-flight connectivity, Viasat's services are activated on over 5,000 business jets globally, representing more than 70% of the satellite-connected market.
Viasat (NASDAQ: VSAT) has announced a Defense and Advanced Technologies Investor Virtual Teach-In scheduled for October 17, 2024 at 11:00 a.m. Pacific Time / 2:00 p.m. Eastern Time. The event will be hosted via conference call and webcast, featuring a presentation followed by a Q&A session, with an estimated duration of 60 minutes.
The teach-in will focus on Viasat's Defense and Advanced Technologies reporting segment, covering technology, products, services, business model, market dynamics, and future growth drivers. Key speakers include Susan Miller, Kent Leka, Mike Maughan, David Schmolke, and Metin Bayram, representing various divisions within Viasat and its subsidiary Trellisware Inc.
Participants can join the live conference call by dialing (800) 715-9871 in the U.S. or +1 (646) 307-1963 internationally, using the conference ID 1006507. A live webcast and presentation materials will be available on Viasat's Investor Relations website.
Viasat, Inc. (Nasdaq: VSAT) announces the successful closing of an upsized offering of $1,975 million in 9.000% Senior Secured Notes due 2029. The offering, initially set at $1,250 million, was oversubscribed and increased. The notes were issued by Viasat's indirect subsidiaries, Connect Finco SARL and Connect U.S. Finco , at 100.00% of face value. They were sold to qualified institutional buyers in the U.S. through a private placement and internationally under Regulation S.
The notes are secured on a first-lien basis by assets also securing the Issuers' existing senior secured credit facilities. Proceeds from the offering, along with cash on hand, will be used to redeem all outstanding 6.750% Senior Secured Notes due 2026 and cover related expenses. The notes have not been registered under the Securities Act and cannot be offered or sold in the U.S. without registration or an applicable exemption.
Viasat (NASDAQ: VSAT) has been awarded a $33.6 million contract by the U.S. Air Force Research Laboratory (AFRL) under the Defense Experimentation Using Commercial Space Internet (DEUCSI) program. The contract involves developing Active Electronically Scanned Array (AESA) systems for resilient satellite communications on tactical aircraft, including rotary wing platforms.
The AESA systems will enable multi-band, multi-orbit, and multi-vendor network access, supporting the government's need for resilient communications. Viasat will leverage its commercial AESA technology and expertise to create a high-performance, low size, weight, and power (SWAP) phased array antenna that offers improved flexibility, reliability, and aerodynamics for aircraft.
This development aligns with Viasat's previous awards in phased array antenna technology across land, maritime, space, and airborne applications, announced in August 2023.
Viasat (NASDAQ: VSAT) has announced the granting of equity awards to Gary Chase, the company's new Senior Vice President and Chief Financial Officer, as part of his employment inducement package. The Board of Directors approved the following grants on September 16, 2024:
- 265,685 restricted stock units (RSUs)
- 59,199 performance-based restricted stock units (PSUs)
These awards were granted under Viasat's 2024 Employment Inducement Incentive Award Plan, in compliance with Nasdaq Listing Rule 5635(c)(4). The RSUs have different vesting schedules, while the PSUs will vest after a three-year performance period, with the actual number of units earned ranging from 0% to 175% of the target, based on Viasat's relative total shareholder return performance against the Russell 3000 Index.
Viasat's subsidiaries, Connect Finco SARL and Connect U.S. Finco , have upsized and priced an offering of $1,975 million in 9.000% Senior Secured Notes due 2029. This is an increase from the previously announced $1,250 million. The notes will be issued at 100.00% of face value and are expected to close on September 25, 2024. They will be secured on a first-lien basis by assets also securing the Issuers' existing senior secured credit facilities.
The net proceeds, along with cash on hand, will be used to redeem all outstanding 6.750% Senior Secured Notes due 2026 and pay related fees. The notes are being offered to qualified institutional buyers in the U.S. and outside the U.S. under Rule 144A and Regulation S, respectively, of the Securities Act of 1933.
Viasat's subsidiaries, Connect Finco SARL and Connect U.S. Finco , plan to offer $1,250 million in Senior Secured Notes due 2029. The notes will be sold privately to qualified institutional buyers in the U.S. under Rule 144A and internationally under Regulation S. They will be secured by first-lien assets also securing the Issuers' existing senior secured credit facilities. The net proceeds, along with cash on hand, will be used to redeem a portion of the Issuers' outstanding 6.750% Senior Secured Notes due 2026 and cover related expenses. This offering is subject to market conditions and does not constitute a redemption notice for the 2026 Notes. The new notes are not registered under the Securities Act and cannot be sold in the U.S. without registration or exemption.
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