Viasat loses subs, but gains aircraft/maritime connections
August 8, 2024
By Chris Forrester
Back in 2020, California-based satellite operator Viasat had 603,000 land-based subscribers and a very steady consumer business. Now, subscriber numbers are just 257,000 and not helped by problems with its ViaSat 3 F1 craft. However, the operator is winning support from airlines and their passengers. Viasat, which now incorporates London- based Inmarsat in its quarterly numbers, counts a contracted backlog of 1,460 aircraft and fresh awards of 350 aircraft in its overall portfolio of clients. Viasat (and Inmarsat) now serve a valuable 19,920 aircraft and vessels.
Inmarsat’s numbers have been incorporated for two trading months of Viasat’s Q1 2025 and have helped Viasat raise its guidance for the full 2025 year. For Q1 2025 its net loss of $32.9 million decreased compared to net loss of $77
million in Q1 FY2024 primarily due to improved operating performance, says the company.
Viasat’s revenue of $1.1 billion in Q1 FY2025 increased 44 per cent YoY driven by the contribution from Inmarsat. Combined revenue grew 6 per cent YoY driven largely from growth in the Defense and Advanced Technologies segment.
Its overall backlog of contracted orders is down a little at $3.64 billion ($3.84 billion same period last year). Viasat’s satellite roadmap now has its ViaSat 3F1 in service. Its ViaSat 3F2 should enter service in “late 2025”, with ViaSat 3F3 entering service in “mid-late 2025”, said the company.