Avanti Communications Sees Revenue Growth in Q3, Remains Optimistic for Q4
Avanti Communications Group issued an update for the quarter ended Sept. 30 and post quarter to date, in which it saw strong revenue growth in Q3 2018. Revenue for the 3 months to Sept. 30 was $10.8 million, yet there was an Earnings Before Interest, Tax, Depreciation and amortization (EBITDA) loss of $10.6 million.
Other highlights include the signing of a a seven-year wholesale capacity lease agreement, worth $84 million over the period, with a major international satellite service provider. The company also signed its first Hylas 4 contract for steerable capacity with Viasat (worth $10 million over two years), and concluded a Master Distribution Agreement with Comsat. Comsat is a fully approved, long term satellite communications supplier to the U.S. Department of Defense, U.S. Government, and other related agencies. The seven-year contract enables Avanti to immediately access these key growth markets to offer its High Throughput Satellite (HTS) network.
According to the release, the company believes that “the current activity levels and pipeline gives us confidence that we will see strong growth in bandwidth revenues in the final quarter of 2018. Furthermore, the recently signed contracts underpin significant growth in core bandwidth revenue throughout 2019.”