Viasat, Inc. (NASDAQ:VSAT) Q1 2025 Earnings Conference Call August 7, 2024 5:30 PM ET

Company Participants

Lisa Curran - Vice President, Investor Relations
Mark Dankberg - Chairman of the Board, Chief Executive Officer, and Co-Founder
Guru Gowrappan - President
Shawn Duffy - Senior Vice President & Chief Financial Officer

Conference Call Participants

Sebastiano Petti - JPMorgan
Griffin Boss - B. Riley Securities
Ryan Koontz - Needham & Company
Ric Prentiss - Raymond James
Christopher Quilty - Quilty Space
Louie DiPalma - William Blair

Operator

Please standby. Your program is about to begin. My name is Meg and I will be your conference facilitator this afternoon. At this time, I would like to welcome everyone to Viasat's First Quarter Fiscal Year 2025 Earnings Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session.

I would now like to turn the call over to Ms. Lisa Curran, Vice President of Investor Relations. Ms. Curran, you may begin your conference.

Lisa Curran

Thanks, Meg. We will present certain non-GAAP financial measures on today's call. Information required by the SEC relating to these non-GAAP financial measures is available in our Q1 FY '25 Shareholder Letter on the Investor Relations section of our website.

Please note that to provide a more meaningful comparison of our results of operations year-over-year, results for the first quarter of FY 2025 are compared against supplemental combined results for the prior year period. This supplemental combined results are based on the combination of Viasat's historical reported results with Inmarsat's historical reported results for periods prior to the acquisition with adjustments to reflect purchase price accounting. The conversion of Inmarsat's results from IFRS to GAAP and conforming changes to reflect Viasat's presentation of its results. The supplemental combined financial information was prepared to better illustrate or invest for the performance of our business following our acquisition of Inmarsat.

Unless otherwise noted, the presented financial measures reflect year-over-year increases or decreases relative to the supplemental combined financial data in our Q1 FY '25 Shareholder Letter on the Investor Relations section of our website. During the presentation, we will describe certain of the more significant factors that impacted year-over-year performance.

We will also make forward-looking statements within the meaning of the federal securities laws, including statements regarding events or developments that we expect or anticipate will or may occur in the future. These forward-looking statements are subject to a number of risks and uncertainties, and actual results might differ materially from any forward-looking statements that we make today. Information regarding these factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings and annual report on Form 10-K. These forward-looking statements speak only as of the date they are made, and we do not assume any obligation to update any forward-looking statements.