Viasat, Inc. (NASDAQ:VSAT) Q3 2023 Earnings Conference Call February 7, 2023 5:00 PM ET

Company Participants

Mark Dankberg - Chairman and CEO

Shawn Duffy - CFO

Robert Blair - General Counsel

Conference Call Participants

Ric Prentiss - Raymond James

Nikhil Aluru - JP Morgan

Landon Park - Morgan Stanley

Mike Crawford - B. Riley Securities

Caleb Henry - Quilty Analytics

Ryan Koontz - Needham & Company

Louie DiPalma - William Blair

Operator

Welcome to ViaSat’s FY 2023 Third Quarter Earnings Conference Call. Your host for today’s call is Mark Dankberg, Chairman and CEO. You may proceed, Mr. Dankberg.

Mark Dankberg

Okay, thanks. Thanks for joining us today. We released our shareholder letter shortly after market close and its available on our website and we will be referring to that on this call.

Joining me today on the call are Rick Baldridge, our Vice Chairman; Kevin Harkenrider, our Chief Operating Officer; our Chief Financial Officer, Shawn Duffy, Robert Blair, our General Counsel; and Paul Froelich from Corporate Development; and Peter Lopez from Investor Relations.

So, let's have Robert provide our Safe Harbor disclosure for the start.

Robert Blair

Thanks Mark. As you know, this discussion will contain forward-looking statements. This is a reminder that factors could cause actual results to differ materially. Additional information concerning these factors is contained in our SEC filings, including our most recent reports on Form 10-K and Form 10-Q. Copies are available from the SEC or from our website. Back to you, Mark.

Mark Dankberg

Okay. Thanks, Robert. So, I'll start with a brief overview, and then we'll go right into questions. So, the most important point for today is that construction and test on the ViaSat-3 Americas satellite has been completed. We're scheduled to launch on April 8, which follows a pair of NASA International Space Station missions that have been pushed about one to two weeks later than previously planned because of the [indiscernible] replacement mission to bring back cosmonauts from the ISS. And bringing that satellite into service addresses our most immediate challenge, which is bandwidth constraints.

But in the U.S. that have caused us to steadily downsize our residential business to support the strong growth we've had in inflight connectivity. The ViaSat-3 will be able to serve areas that are currently full and to introduce updated plans with higher speeds, more bandwidth, and greater value. It also supports more [Indiscernible] of our existing customers in the Americas and capacity to the good growth we've had in Brazil and Mexico and opens additional new geographic and vertical markets. We're confident it will drive growth.