VIASAT INC. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Viasat Inc. has filed its 10-Q report for the quarter ending December 31, 2023, detailing its financial performance and operational status.</b>

AI Summary

VIASAT INC (VSAT) filed a Quarterly Report (10-Q) with the SEC on February 9, 2024. Viasat Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. Key dates mentioned include 2023-12-31 and 2024-02-09. The company's fiscal year ends on March 31. Viasat Inc. is incorporated in Delaware and headquartered in Carlsbad, CA.

Why It Matters

For investors and stakeholders tracking VIASAT INC, this filing contains several important signals. This filing provides investors and analysts with the latest financial data for Viasat Inc., crucial for understanding the company's performance in the satellite communications sector. The 10-Q report is a standard requirement for publicly traded companies, offering a mid-year update on financial health and operational activities, including revenue, expenses, and debt.

Risk Assessment

Risk Level: medium — VIASAT INC shows moderate risk based on this filing. The company's financial health and future prospects are subject to the inherent risks of the telecommunications and broadcasting equipment industry, including technological obsolescence and competitive pressures, as indicated by its SIC code 3663.

Analyst Insight

Monitor Viasat Inc.'s upcoming earnings reports and investor calls for updates on revenue growth, segment performance, and strategic initiatives, particularly concerning its satellite services and government systems.

Key Numbers

• 2023-12-31 — Report Period End Date (Conformed Period of Report)
• 2024-02-09 — Filing Date (Filed as of Date)
• 03-31 — Fiscal Year End (Fiscal Year End)
• Q3 — Quarter (Filing details)

Key Players & Entities

• VIASAT INC. (company) — Filer name
• 0000797721 (company) — Central Index Key
• 3663 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• CARLSBAD (company) — Business Address City
• CA (company) — Business Address State
• 760-476-2200 (company) — Business Phone
• VSAT (company) — Ticker Symbol

Forward-Looking Statements

• Viasat's interest expenses will remain elevated due to its substantial debt load. (Viasat Inc.) — high confidence, target: 2024-12-31
• The company will continue to face profitability challenges in the near term. (Viasat Inc.) — medium confidence, target: 2024-09-30

FAQ

Risk Factors

• Market Risks [medium — market]: The company operates in the Radio & TV Broadcasting & Communications Equipment industry (SIC 3663), which is subject to market fluctuations and competitive pressures.

Industry Context

Viasat Inc. operates within the Radio & TV Broadcasting & Communications Equipment industry, providing satellite-based communication services and products.

Regulatory Implications

As a publicly traded company, Viasat Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of Form 10-Q for quarterly financial updates.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management's discussion and analysis.
2. Analyze Viasat's segment performance, particularly in Commercial Networks and Government Systems.
3. Assess the impact of any debt instruments or financing facilities mentioned in the filing on the company's financial leverage.

Key Dates

• 2023-12-31: Period End Date — End of the reporting period for the 10-Q filing.
• 2024-02-09: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted for the 10-Q report ending December 31, 2023. Comparative data from previous filings is not yet available in this extract.

Key Financial Figures

• $0.0001 — h Registered) Common Stock, par value $0.0001 per share VSAT The Nasdaq Stock Mar

Filing Documents

• vsat-20231231.htm (10-Q) — 3046KB
• vsat-ex4_1.htm (EX-4.1) — 34KB
• vsat-ex10_1.htm (EX-10.1) — 123KB
• vsat-ex31_1.htm (EX-31.1) — 14KB
• vsat-ex31_2.htm (EX-31.2) — 14KB
• vsat-ex32_1.htm (EX-32.1) — 13KB
• img243707707_0.jpg (GRAPHIC) — 59KB
• 0000950170-24-013013.txt (&nbsp;) — 13690KB
• vsat-20231231.xsd (EX-101.SCH) — 1746KB
• vsat-20231231_htm.xml (XML) — 2817KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Equity 6 Notes to the Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 40

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 61

Controls and Procedures

Item 4. Controls and Procedures 62

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 62

Risk Factors

Item 1A. Risk Factors 62

Other Information

Item 5. Other Information 62

Exhibits

Item 6. Exhibits 63

— FINANC IAL INFORMATION

PART I — FINANC IAL INFORMATION

Financial Sta tements (Unaudited)

Item 1. Financial Sta tements (Unaudited) VIASAT, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (UNAUDITED) As of December 31, 2023 As of March 31, 2023 (In thousands) ASSETS Current assets: Cash and cash equivalents $ 1,621,228 $ 1,348,854 Restricted cash — 30,532 Short-term investments 30,000 — Accounts receivable, net 675,846 419,934 Inventories 353,551 268,563 Prepaid expenses and other current assets 1,055,683 176,629 Total current assets 3,736,308 2,244,512 Property, equipment and satellites, net 7,374,342 4,378,283 Operating lease right-of-use assets 408,367 281,757 Other acquired intangible assets, net 2,773,665 201,205 Goodwill 1,613,706 158,542 Other assets 744,267 466,038 Total assets $ 16,650,655 $ 7,730,337 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 314,611 $ 271,548 Accrued and other liabilities 999,068 647,232 Current portion of long-term debt 62,838 37,939 Total current liabilities 1,376,517 956,719 Senior notes 4,342,617 1,689,186 Other long-term debt 2,879,963 732,315 Non-current operating lease liabilities 383,614 273,006 Other liabilities 2,522,149 218,542 Total liabilities 11,504,860 3,869,768 Commitments and contingencies (Note 10) Equity: Viasat, Inc. stockholders' equity Common stock 13 8 Paid-in capital 4,768,444 2,540,679 Retained earnings 349,695 1,318,336 Accumulated other comprehensive income (loss) ( 15,144 ) ( 34,713 ) Total Viasat, Inc. stockholders' equity 5,103,008 3,824,310 Noncontrolling interest in subsidiary 42,787 36,259 Total equity 5,145,795 3,860,569 Total liabilities and equity $ 16,650,655 $ 7,730,337 See accompanying notes to the condensed consolidated financial statements. 3 VIASAT, INC. CONDENSED CONSOLIDATED S TATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (U

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View this 10-Q filing on SEC EDGAR