VSAT - Viasat Inc. (VSAT) Q4 2024 Earnings Call Transcript

2024-05-21 21:18:04 ET

Viasat, Inc. (VSAT)

Q4 2024 Earnings Conference Call

May 21, 2024, 5:30 PM ET

Company Participants

Lisa Curran - Vice President of Investor Relations

Mark Dankberg - Chairman, Chief Executive Officer, and Co-Founder

K. Guru Gowrappan - President

Shawn Duffy - Senior Vice President and Chief Financial Officer

Conference Call Participants

Simon Flannery - Morgan Stanley

Ric Prentiss - Raymond James

Edison Yu - Deutsche Bank

Caleb Henry - Quilty Space

Ryan Koontz - Needham

Presentation

Operator

My name is Sarah and I will be your conference facilitator this afternoon. At this time, I would like to welcome everyone to Viasat's Fourth Quarter Fiscal Year 2024 Earnings Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.

I would now like to turn the call over to Ms. Lisa Curran, Vice President of Investor Relations. Ms. Curran, you may begin your conference.

Lisa Curran

Thanks, Sarah. We will present certain non-GAAP financial measures on today's call. Information required by the SEC relating to these non-GAAP financial measures is available in our fourth quarter fiscal year '24 Shareholder Letter on the Investor Relations section of our website.

Please note that to provide a more meaningful comparison of our results of operations year-over-year, results for the fourth quarter and fiscal year 2024 are compared against supplemental combined results for prior year periods.

These supplemental combined results are based on the combination of Viasat's historical reported results from continuing operations with Inmarsat's historical reported results for periods prior to the acquisition, with adjustments to reflect purchase price accounting, the conversion of Inmarsat's results from IFRS to GAAP, and conforming changes to reflect Viasat's presentation of its results. The supplemental combined financial information was prepared to better illustrate for investors the performance of our business following our acquisition of Inmarsat.

Unless otherwise noted, the presented financial measures reflect year-over-year increases or decreases relative to the supplemental combined financial data in our fourth quarter fiscal year 2024 Shareholder Letter on the Investor Relations section of our website....

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