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Dec 31, 2019
Viasat Q3 2020 Earnings Report
Viasat's Q3 2020 results showed strong performance with revenue growth, increased net income, and record Adjusted EBITDA.
Key Takeaways
Viasat Inc. reported strong Q3 fiscal year 2020 results, with revenues totaling $588.2 million and net income increasing to $6.5 million. Non-GAAP net income rose to $24.7 million, and Adjusted EBITDA reached a record $122.3 million, marking a 13% year-over-year increase. New contract awards grew by 29% to $577.4 million, driven by momentum in government, U.S. fixed broadband, and commercial aviation businesses.
Revenues totaled $588.2 million, a 6% year-over-year increase.
Net income increased to $6.5 million, compared to a loss of $10.4 million in the same quarter last year.
Non-GAAP net income increased to $24.7 million, a 256% increase year-over-year.
Adjusted EBITDA reached a record $122.3 million, a 13% year-over-year increase.
Forward Guidance
Viasat anticipates continued momentum from contract awards and backlog, building confidence in a strong finish to fiscal year 2020 and into fiscal year 2021. The company is focused on executing opportunities and delivering the ViaSat-3 constellation into service.
Positive Outlook
- Confidence in a strong finish to fiscal year 2020 and into fiscal year 2021.
- Unique vertical technology and service delivery integration creates compelling long-term opportunities for global expansion.
- Growth drivers for government business are in the early innings and are substantially enhanced by global coverage.
- Diverse portfolio of fixed and mobile broadband satellite services gives flexibility and resilience to thrive in distinct market environments.
- Enormous demand for bandwidth is expected.
Challenges Ahead
- Actual results could differ materially and adversely from those expressed in any forward-looking statements.
- Unexpected expenses related to satellite projects could adversely affect results.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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