"Fellow Shareholders,
Our performance for Q2 FY2024 was robust, marked by significant double-digit year-over-year growth in both core revenue and Adjusted EBITDA. We're pleased to report solid progress during Q2 FY2024.
We exited the quarter with a very strong liquidity position of over $3.3 billion, which includes $1.96 billion of cash."
https://investors.viasat.com/static-files/93f1d8fa-0315-47de-9782-16ff6f3c20c0
I am sure the 800 folks who just got canned appreciate that.
GEO operators claim greater efficiency for populated areas, but why choose satellite when you have other options? I can drive around town with great 4G/5G service. Seems like the satellite demand is best in areas other than highly populated areas. LEOs aren't disadvantaged for these areas.
According to their 09/30 10-Q filing they have $7.5B in debt and $2B in cash. They spent $86M on interest expense for the quarter. They have notes due every year starting in 2025. It will be interesting to see how that plays out.
I don't even read Guru's diarrhea of the mouth emails anymore. They reek of BS.
Airline business is very cost sensitive, and how big is the real demand? I load up a few Netflix movies in advance and I'm good for the journey.
What's the interest payment on $7.5B in debt? How much more debt do they need to finish up the satellites?
Unlimited data on Starlink. I bet Kuiper will be the same. I'm not holding any of this stock.
Stock price dropped 80% over the past 5 years. It is not just the two satellite failures but a failed business strategy and vision betting on GEO when LEO is steadily increasing in marketshare with aviation, maritime and transportation.
Yeah EBITDA is the most BS metric out there. It's not even a GAAP. Viasat loves to quote these stats to make the profitability look better. They always have.
When the stock is this low, the company is going to be focused on the short-term for a long time. Shareholders will be more important than anything else.
Q2 FY2024 financials may look "good" but there's not indications that its sustainable. There was many times at ViaSat, we where told that we needed to make these "numbers" at all cost. So you end up doing things that in the short term look good but long term you are shooting yourself in the foot.
Dipsh-ts
Resulting in a whopping $2 stock bump.
They love shining the spotlight on EBITDA. Pays no attention to debt, asset depreciation, or capital expenditures like those aren't the 800lbs elephant in the room right now.