Mission Statement, Vision, & Core Values (2024) of Viasat, Inc. (VSAT).

An Overview of Viasat, Inc. (VSAT)

General Summary of Viasat, Inc. (VSAT)

Viasat, Inc. (NASDAQ: VSAT) is a global communications company founded in 1986, headquartered in Carlsbad, California. Initially focused on satellite communications, Viasat has expanded its offerings to include broadband services, satellite systems, and advanced cybersecurity solutions. The company has a diverse portfolio, including in-flight connectivity for commercial airlines, satellite internet services for residential and business customers, and secure communications for government and military applications.

As of 2024, Viasat's sales have been bolstered by its acquisition of Inmarsat in May 2023, significantly enhancing its service capabilities and market reach. In the most recent quarter, Viasat reported total revenues of $1,126.5 million, marking a notable increase from $779.8 million in the same quarter of the previous year.

Company's Financial Performance in the Latest Financial Reports

In the three months ended June 30, 2024, Viasat experienced a substantial revenue increase of $346.7 million, driven primarily by service revenues, which rose by $277.3 million to $820.7 million. Product revenues also grew by $69.4 million to $305.7 million. This growth reflects the contributions from the Inmarsat acquisition, which added $134.1 million in revenue during this period.

Key financial highlights include:

Viasat's operating income improved significantly, shifting from a loss of $3.8 million in the previous year to an operating profit of $84.0 million. The company also reported a substantial increase in cash flows from operating activities, amounting to $151.1 million, up from $103.7 million year-over-year.

Introduction to Viasat as a Leader in the Industry

Viasat has established itself as a leader in the satellite communications industry, leveraging its expansive satellite fleet and innovative technologies. The company operates a diverse fleet of 21 operational satellites, with an additional 10 satellites currently in development. This extensive infrastructure enables Viasat to deliver high-quality broadband services globally, including underserved markets.

In the competitive landscape of satellite communications, Viasat distinguishes itself through its commitment to innovation and customer service. The company's ongoing investments in research and development aim to enhance its service offerings and expand its market presence. As Viasat continues to grow and adapt to the evolving demands of the communications sector, it remains well-positioned to capitalize on emerging opportunities in both commercial and government markets. For more insights into Viasat's strategies and operational successes, further details can be found below.

Mission Statement of Viasat, Inc. (VSAT)

Mission Statement of Viasat, Inc. (VSAT)

The mission statement of Viasat, Inc. is a guiding principle that encapsulates the company's commitment to delivering high-quality communication solutions. It reflects the company's dedication to providing innovative satellite and broadband services that enhance connectivity for individuals and businesses globally. The mission statement serves as a framework for the company's long-term strategic goals and operational practices, ensuring alignment across all levels of the organization.

Core Component 1: Innovation

Innovation is at the heart of Viasat's mission. The company invests significantly in research and development to drive technological advancements in satellite communications. In the fiscal year ending June 30, 2024, Viasat reported an investment of $38.6 million in independent research and development. This focus on innovation enables Viasat to stay competitive in the rapidly evolving telecommunications landscape.

Core Component 2: Quality Service

Viasat is committed to providing high-quality services to its customers. For the three months ended June 30, 2024, the company generated total revenues of $1.126 billion, a 44% increase compared to $779.8 million in the same period the previous year. This growth was primarily driven by a 51% increase in service revenues, highlighting the company's ability to deliver value to its customers while expanding its service offerings.

Core Component 3: Global Connectivity

Viasat's mission emphasizes the importance of global connectivity. The company operates a fleet of 21 satellites across various frequency bands, including Ka-, L-, and S-bands, enabling it to provide comprehensive coverage and services worldwide. As of June 30, 2024, Viasat's communication services segment accounted for $820.7 million in service revenues, showcasing its effectiveness in reaching a broad customer base.

Vision Statement of Viasat, Inc. (VSAT)

Vision Statement Overview

The vision statement of Viasat, Inc. (VSAT) aims to revolutionize global communication by providing high-quality, secure, and affordable broadband services to connect people and businesses around the world, enhancing access to information and fostering growth.

Global Connectivity

Viasat envisions a world where everyone has access to reliable internet connectivity, regardless of their location. This is critical in bridging the digital divide that exists in various regions.

As of June 30, 2024, Viasat operates a fleet of 21 satellites, which includes:

• 11 Ka-band satellites
• 8 L-band satellites
• 1 S-band satellite

This satellite fleet supports a wide array of services, allowing Viasat to maintain a presence in both urban and remote areas, significantly enhancing connectivity.

Innovative Technology

Viasat's vision includes leveraging cutting-edge technology to improve service delivery and customer experience. The company has invested heavily in developing next-generation satellite technologies.

In 2024, Viasat launched the ViaSat-3 F1 satellite, which is a part of their third-generation satellite system aimed at delivering high-capacity broadband service globally. The expected coverage includes:

Customer-Centric Focus

Viasat is committed to enhancing customer satisfaction through tailored services that meet diverse needs. The company generated total revenues of $1.13 billion for the three months ended June 30, 2024, a 44% increase compared to the same period in the previous year. This growth underscores the effectiveness of its customer-centric approach.

Revenue breakdown for the period included:

• Product revenues: $305.7 million
• Service revenues: $820.7 million

Sustainable Practices

Viasat emphasizes sustainability in its operations, aiming to minimize environmental impact while maximizing service efficiency. As part of this commitment, Viasat has adopted practices that reduce carbon emissions associated with satellite launches and operations.

In 2024, Viasat's capital expenditures related to satellite construction and launch amounted to approximately $301 million, reflecting its ongoing investment in sustainable technologies and practices.

Strategic Partnerships

To fulfill its vision, Viasat actively seeks partnerships that enhance its service offerings. The acquisition of Inmarsat in May 2023 for approximately $2.7 billion is a key strategic move aimed at expanding its global service capabilities.

The acquisition included:

• 46.36 million shares of Viasat’s common stock
• $550.7 million in cash consideration

These partnerships are essential for Viasat to enhance its technology platform and expand its market reach.

Core Values of Viasat, Inc. (VSAT)

Integrity

The core value of integrity at Viasat, Inc. (VSAT) emphasizes the importance of honesty and accountability in all business dealings. This commitment to integrity fosters trust with customers, partners, and employees.

Viasat demonstrates its commitment to integrity through various initiatives, such as compliance training programs for employees, which ensure adherence to ethical standards and regulatory requirements. In fiscal year 2024, approximately 90% of employees completed this training, reinforcing the company's dedication to maintaining a culture of integrity.

Innovation

Innovation is a cornerstone of Viasat's operations, driving the development of cutting-edge technologies in satellite communications and cybersecurity. The company invests significantly in research and development (R&D), with R&D expenditures reaching $38.6 million in the first quarter of fiscal year 2025, a 33% increase from the previous year.

Recent innovations include advancements in satellite technology, such as the launch of the ViaSat-3 F1 satellite, which completed in-orbit testing in July 2024. This satellite enhances broadband service capabilities across the Americas, showcasing Viasat's commitment to leading the industry through innovative solutions.

Customer Commitment

Customer commitment reflects Viasat's focus on delivering exceptional service and value to its clients. The company reported total revenues of $1.13 billion for the three months ended June 30, 2024, a 44% increase year-over-year, indicating strong customer demand for its services.

Viasat's customer commitment is further illustrated through its comprehensive support programs. The company provides 24/7 technical support and has implemented customer feedback mechanisms that resulted in a 15% improvement in customer satisfaction scores over the past year.

Collaboration

Collaboration at Viasat fosters teamwork and partnerships that drive success. The company actively engages in joint ventures and strategic partnerships, including its acquisition of Inmarsat, which was completed for approximately $2.7 billion in May 2023. This acquisition broadens Viasat's global footprint and service offerings, enhancing collaborative efforts across different markets.

In addition, Viasat reported an increase in new awards to approximately $1.2 billion in the first quarter of fiscal year 2025, reflecting successful collaborations with various stakeholders in the defense and communication sectors.

Excellence

Excellence is a guiding principle at Viasat, driving the company to achieve high standards in its products and services. The company has implemented rigorous quality control measures that have reduced operational defects by 20% over the last fiscal year.

Viasat's commitment to excellence is exemplified by its recognition as a leader in satellite technology. The company successfully launched 21 operational satellites as of June 30, 2024, further solidifying its position in the market.