Viasat Revenues Rise 19%, US Broadband ARPU Hits Record in Q3

CARLSBAD, Calif. -- Viasat, a global communications company, today announced financial results for the fiscal third quarter ended December 31, 2019.

Satellite Services
Q3 Fiscal Year 2020 Financials

  • Revenues reached a new high of $211.7 million, a 19% increase year-over-year and a 3% increase sequentially, marking the eighth sequential quarter of revenue gains
  • New contract awards increased 14% year-over-year to $210.7 million
  • Segment operating income was $3.6 million, compared to a $10.2 million operating loss in the prior year period, while Adjusted EBITDA increased by 33% year-over-year to $75.1 million as fixed and mobile broadband revenues continued to scale on the ViaSat-2 satellite system. Excluding the $4.0 millionViaSat-2 insurance gain in the same period last year, segment Adjusted EBITDA increased 43%

Business Highlights

  • U.S. fixed broadband subscriber average revenue per user (ARPU) reached a record $89.71, an increase of 15% year-over-year on approximately flat subscriber growth, as new subscribers continued to embrace Viasat's premium broadband service plans
  • In Mexico, Viasat continued to diversify its broadband service offerings and launched residential service; while consumer engagement on Community Wi-Fi internet hotspots grew on a sequential quarter basis
  • In Brazil, Viasat's participation in the Governo Eletrônico - Serviço de Atendimento ao Cidadão (GESAC) initiative continued to ramp, with over 1,500 new sites deployed in the quarter
  • In Business Aviation, Viasat's next-generation Ka-band In-Flight Connectivity (IFC) system was approved for Gulfstream G280 aircraft and received Type Certification for Embraer Praetor 600 aircraft; Viasat's dual-band business aviation IFC system also received Supplemental Type Certificate for the Bombardier Global 5000/6000/GEX family
  • In Commercial Aviation, IFC service was active on 1,379 commercial aircraft – up 23% year-over-year with a gross annual passenger opportunity reaching over 250 million people
  • As reported during Viasat's prior earnings call, in early third quarter of fiscal year 2020, Viasat was selected by Brazil'sAzul Airlines to install IFC equipment/service on more than 100 combined Airbus A320neo and Embraer E195-E2 aircraft; additionally EL AL Israel Airlines committed to go full fleet with Viasat, adding Viasat's latest equipment to its new Boeing 777 widebody and remaining Boeing 737 narrowbody fleet

Business Highlights

  • Continued progress made on the ViaSat-3 program with multiple project milestones being achieved including critical unit deliveries; integration and test activities on both the ViaSat-3 (Americas) and ViaSat-3 (Europe, Middle East, Africa) satellites; and successful completion of the Preliminary Design Review (PDR) for the third ViaSat-3 (Asia Pacific) satellite
  • Began deployment of the U.S. and European ground networks for the first two ViaSat-3 satellites and initiated siting work for the Asia-Pacific ground network
  • Completed successful over-the-air test antenna switching on Viasat's second-generation hybrid Ku-/Ka-band aviation antenna, highlighting antenna readiness for global aviation opportunities


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