Viasat Q2 2022

In its Q2 2022 financial results, Viasat reported:

• Revenues for the three months was $678 million, a 2% increase compared to the same stage last year.
• However, the company reported a net loss of $22 million for the period.
• Satellite Services achieved record quarterly revenue of $312 million. Service revenues saw a 10% year-on-year jump, driven by in in-flight connectivity (IFC) service revenue.
• Government Systems revenue was $253 million, a decrease of 7% year over year. Governments Systems business was impacted by delays in NSA certification of encryption products, and supply chain shortages.
• The company is targeting launch of ViaSat-3 Americas satellite in the third quarter of its fiscal year 2023, (October – December 2022), and to start commercial service in the fourth fiscal quarter (January – March 2023).
• CEO Mark Dankberg said the ViaSat-3 program is making “good progress” as the first satellite enters final assembly and mechanical environment testing. The second payload is now with Boeing for spacecraft integration.