Record revenues for Viasat

US-based satellite operator Viasat saw record revenues for its 2022 fiscal year.

Viasat saw revenue increase 24% year-over-year to a record US$2.8 billion. Meanwhile, GAAP net income declined to a loss of US$16 million as a result of significant acquisition expenses and amortisation of acquired intangibles. Adjusted EBITDA increased 15% YoY to a record US$611 million.

In their letter to shareholders, CEO Rick Baldridge and executive chairman Mark Dankberg wrote: “While we achieved our Q4 FY2022 outlook and FY2022 goals, Q4 FY2022 had some challenges. ViaSat-3 ground network expansion and delays in both NSA certification of Information Security products and FAA approval of new Tactical Data Links products within the U.S. were expected, while spot supply chain issues affecting shipment of some government products were not.”

They added that the company has taken “a bold, aggressive, challenging and even contrarian path,” that can “deliver very attractive returns for all of our stakeholders.”

The company is optimistic about the 2023 financial year, and said that it will continue generating double digit revenue and Adjusted EBITDA growth.