Viasat, Inc. (NASDAQ:VSAT) Q2 2024 Earnings Call Transcript

Mark Dankberg: Yes. I mean, I think you’re going to see kind of ecosystems evolve around the direct to device. And they’re going to include the device makers and chip makers, spectrum holders, satellite operators, and others. And the ones that you described are all attractive, members of those ecosystems. And I think, as we’ve mentioned before, we think Inmarsat got a really interesting role to play, especially in, their same role to play, especially in there will be different generations of standards. The current one, which is the narrowband IoT, next you know, non terrestrial network. I think you’ll see those come to market soon, like, within quarters. And yes, there’s definitely a role for us to play there.

Operator: [Operator Instructions] And I’ll hand the conference back to our speakers for any additional or closing remarks.

Mark Dankberg: Okay. So, thanks everybody for joining us this afternoon. Just want to remind you of a few important takeaways from the quarter. We felt the results were really good, generated 16% year-over-year revenue growth and 20% year-over-year adjusted EBITDA growth on like for like basis. We’re doing well on the Inmarsat integration program. We’re kind of ahead of schedule and had a budget so far. We’ve got a — we think we have a clear and good value proposition on global mobility that’s built on meaningful and granular service level commitments even in the most challenging places and times. That’s resonated with customers, especially in the very competitive U.S. in flight market, and we think the same kinds of analytics insights and bringing confidence to global markets in aviation, maritime and government, we think that’s going to work for us.

We’re confident our business will continue to grow revenue and adjusted EBITDA in fiscal year ’24 and ’25. We’ll give more additional guidance on that, next quarter for FY25. And we’re aiming to become free cash flow positive in the first half of calendar year ’25. I’ve taken a lot of the steps that we think we’re going to need get there, and we think we’ll get meaningful and sustainable free cash flow during fiscal ’26. So with that, I look forward to updating you all, on our continued progress next quarter. And I’ll hand it back to the operator now.

Operator: Thank you. And once again, everyone that does conclude today’s conference. Thank you all for your participation. You may now disconnect.