VIASAT Reports 86.6% YOY Revenue Growth and a 48.2 Million Decrease in Net Income for Q2 FY2024

☀️Earnings Overview

On November 8 2023, VIASAT ($NASDAQ:VSAT) reported total revenue of USD 1225.4 million and net income of USD -767.2 million for the second quarter of FY2024 ending September 30 2023. This represented a year-over-year growth of 86.6% and a decrease of -48.2 million, respectively.

Analysis

GoodWhale’s analysis of VIASAT reveals that it is a ‘cheetah’ company that has achieved high revenue or earnings growth. However, this type of company is considered to be less stable due to lower profitability. Investors who are interested in VIASAT may include those who look for high growth potential. In terms of its financial health, VIASAT has an intermediate score of 5/10 in terms of its cashflows and debt. This indicates that it is likely to have the ability to pay off its debt and fund future operations. Additionally, VIASAT is strong in growth, medium in profitability and weak in assets and dividend. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Viasat. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Viasat. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Viasat. More…

Key Ratios Snapshot

Some of the financial key ratios for Viasat are shown below. More…

Peers

It has a portfolio of products and services for both commercial and government markets. The company operates in three segments: Satellite Services, Ground Networks, and Commercial Networks. Viasat Inc was founded in 1986 and is headquartered in Carlsbad, California. Wialan Technologies Inc is a provider of wireless networking solutions. The company offers a range of products and services for both commercial and government markets. Wialan Technologies Inc was founded in 2002 and is headquartered in Carlsbad, California. ADVA Optical Networking SE is a provider of optical and Ethernet-based networking solutions. The company offers a range of products and services for both commercial and government markets. ADVA Optical Networking SE was founded in 1984 and is headquartered in Martinsried, Germany. Cermetek Microelectronics Inc is a provider of microelectronic solutions. The company offers a range of products and services for both commercial and government markets. Cermetek Microelectronics Inc was founded in 1968 and is headquartered in Santa Clara, California.

– Wialan Technologies Inc ($OTCPK:WLAN)

ADVA Optical Networking SE is a German telecommunications company that provides fiber-optic data transmission systems and equipment for data centers, telecommunications service providers, and enterprises. The company has a market cap of 1.07B as of 2022 and a Return on Equity of 4.24%. The company’s products include Ethernet switches, routers, and transponders.

Summary

VIASAT reported strong financial results for the second quarter of FY2024, with total revenue growing 86.6% year-over-year to USD 1225.4 million. Net income, however, decreased by -48.2 million to -767.2 million. Despite the net loss, investors may be encouraged by the significant revenue growth as it suggests that the company is on the right track.

It is also possible that its losses can be attributed to one-time investments or other extraordinary expenses. Long-term investors may want to monitor the company’s performance and look for sustained revenue growth in the coming quarters.