Viasat lost 60.56% in market value over the past year.
The implosion started last year after the stock tanked on reports of a glitch in one of the company’s new satellites.
Viasat took another hit after it emerged that United Airlines will no longer leverage its In-Flight Connectivity (IFC) in its planes, opting to shift to Elon Musk-backed Starlink. The shift translates to a significant loss of a key revenue stream.
Lastly, over the past 12 months, the company has not turned a profit. The operating income for the same period was negative, coming in at -$667.25 million.