VSAT - Viasat Inc. (VSAT) Q3 2024 Earnings Call Transcript
2024-02-06 23:42:06 ET
Viasat, Inc. (VSAT)
Q3 2024 Earnings Conference Call
February 06, 2024, 17:30 ET
Company Participants
Mark Dankberg - Co-Founder, Chairman & CEO
Robert Blair - SVP, General Counsel & Secretary
Kumara Gowrappan - President
Shawn Duffy - SVP & CFO
Conference Call Participants
Richard Prentiss - Raymond James & Associates
Nikhil Aluru - JPMorgan Chase & Co.
Michael Crawford - B. Riley Securities
Edison Yu - Deutsche Bank
Christopher Quilty - Quilty Space
Ryan Koontz - Needham & Company
Presentation
Operator
Hello, and welcome to the Viasat Fiscal Year '24 Third Quarter Earnings Conference Call. Your host for today's call is Mark Dankberg, Chairman and CEO. You may proceed, Mr. Dankberg.
Mark Dankberg
Thanks. Good afternoon, everybody, and thanks for joining us today. So with me, I've got Guru Gowrappan, our President; Shawn Duffy, our Chief Financial Officer; and Robert Blair, our General Counsel. So first, I'll have Robert provide our safe harbor disclosure.
Robert Blair
Thanks, Mark. As you know, this discussion will contain forward-looking statements. This is a reminder that factors could cause actual results to differ materially. Additional information concerning these factors is contained in our SEC filings, including our most recent reports on Forms 10-K and 10-Q. Copies are available from the SEC or from our website. Back to you, Mark.
Mark Dankberg
Thanks. Okay. So we encourage reading the shareholder letter that we posted on our website earlier this afternoon for more details. And we'll give an overview of the main points, and then we'll allow plenty of time for questions. I'll start with a quick overview of our results and status on our satellite fleet and then Guru will go into more depth on the quarter.
Our 3 main priorities, as described in that letter, including the Inmarsat integration, and update our outlook. Our financial results for the third quarter were good. Revenue of $1.1 billion, was up 73% year-over-year compared to revenue from Viasat continuing operations last year. Inmarsat's contribution was about $443 million, up 12% year-over-year on a standalone basis.
Combined growth was 8% year-over-year. Our adjusted EBITDA for the third quarter was $383 million, up 214% relative to adjusted EBITDA from continuing operations last year. Inmarsat's contribution was $260 million, up about 17% last year. Combined adjusted EBITDA grew about 11% year-over-year. ...
Viasat, Inc. (VSAT) Q3 2024 Earnings Call Transcript