Shawn. Thanks, Okay.
global is Services So large from growing are constellation. profitably. as segment ViaSat-X of on we very quarter, part focused anticipated our Satellite Services Satellite Cash a fund we flow described last to our
growth Wi-Fi little a businesses fixed our were adjusted at about than Third and Conversion U.S. more in-flight connectivity, was quarter-over-quarter quarter new XX%. other to broadband $XXX sequential $XXX broadband. sequentially Consistent Satellite up growth growth million with to Services plan, contributed community a sequential from revenue exceptional revenues from X% record million. to EBITDA
up flat, ARPU but growth XX% grew year-to-date left growth chart ARPU annualized explained proportion subscribers associated prioritizing XX% So were business. in same a our in over as to the from also flow how shows, showed the lower that On cash our increased to annualized last U.S. we year-to-date the fixed last chart the revenues compared of and other optimizes year-over-year. services call, was with significantly the subscriber XX% broadband revenue on we quarter basis.
consistent This to favorably continues subscriber and quarter’s results higher mix retail to proportion that of our as were with greater value plans. shift a
We Wi-Fi. and continued enterprise to make in emerging businesses community new in progress
reach mentioned We the understanding can on we the are so the third characteristics end markets, putting new factors each. get these better better of profitable some that of demand emphasis that handle drive in on prospects can and in are geographic gives We a of growth sustained of as growth In-flight map growth growing leading we within of are Mexico already other in of walking quarter sense attaining. well in million terms still The the businesses. connectivity we X a is charge distance over fast. the and the people
go more will depth that we charts. into couple on in of the next So
how quarter, tails, So good our is service another quarter. increase in-flight a same growing year. showed gets a commercial the total XX% QX share in we connectivity us into of was last market really XXX Well, last to the from U.S. X,XXX that airplanes over We brought period another
included have interval. Consultancy And over have calendar three that been other our connectivity you that much share increasing last the can net below Valour any player global of as than see, time installations faster some growing We we from for quarters. the data shows in-flight
have added combined. competitors In three over more than all they the that quarters, fact, last the aircraft show we of other net
we of completed robust. on quarter a Airlines. have captured the quarter was we XX% current American net exceptional be year will of also Third in lot will installations fiscal anticipate ‘XX installations We fourth additions. that retrofit about in our that that, After
our will rate growth So, moderate.
though. America strong We a position will North in in be very
and an to relationships total equipped to of expanded latest fleet entertainment of to fleet the airline XXX our aircraft bring we system latest with reputation the partners. United’s today announced contracts Airlines ViaSat will be Aeromexico to quality enabled in-flight and On additional key United, XX a option and XX connectivity generation AXXX number extend with planes, joining from us existing both full and for we Boeing aircraft United its an And that Aeromexico. earned Airbus XX will Our has narrow-body. increase total executed of performance MAX
Europe are we now in capable global into helping the ViaSat-X and a intent capture a leverage on are on first satellite networks, on comparable topic of with capabilities third good success on slide. Based Also, Boeing, believe network basis. Asia-Pacific to existing Ku portion well-positioned our two We leverage market. and America, existing relative less global progress Ka-band our to systems and that’s satellites we the combined with aiming we to a agreement the and performance with a North are the our the carriers of having of executed global very competitive customers advantages gain to our next Australia
small characteristics whose with on based service differentiate and be the internet So compared it with can’t of enables all connectivity in-flight on airline as to relationships our including amenities impact meaningful engagement advantage powerful even high-quality buy passenger can which and very all increasing is believe use use one partners system of they to a free competing reliably increase fraction a passenger valuable of airlines. of peculiarities relatively choice and competitive high one proportion serve on We by the and passenger’s the define their passengers passengers. carriers broader valuable by in-flight help connectivity can a engagement. of for a partnerships JetBlue partnerships, it, high-quality Wi-Fi project Wi-Fi internet leverage connectivity And our Qantas brands. airlines and system themselves their that extols of internet in-flight brands, with
world passengers captive brands. airlines enabling American a growth for from consumer people group an a of the is of Our across many hours feet audience and being and that XX,XXX the Airlines opportunity Apple’s engage Wi-Fi a week, fleet. subscribers is to subscribers and prospective internet, of time the access service equipped and and around hundreds streaming Apple only appealing while to Apple allows at announced on year transported access planes multiple sign is Music at domestic rapid millions Last an that mainline in-flight. be free This it available Airlines provides that up music American substantial program also to to will of ViaSat capability with majority Americans media, a free
To American the streaming seatback the in-flight of can the competing Apple American. entertainment. substitute free We and is buy high-quality for entertainment subscribers example also new overlooks to thing in directly desirable shown their advantage have and on last already content free costs how Times What American concert the the a entertainment partners operational airlines media side. the or article linear Apple music Willie that personal agreement in and/or American best their expensive as Austin for already live that seatback others passengers, events the do. they it’s popular that’s own. to passengers it that associated expensive TV its experimenting L.A. devices the have Airlines like has Apple been Music It and Nelson or offering a offering passengers TV, described with the leveraging for week Music, competitive an is article see the With other to airlines are as meaningful on on pretty actually City Airlines it An competing is airlines. relationships or seatbacks display through broadcast movies with various be and/or on it to broadcast of whether creates enabling content a Apple the extent, systems equated to or buying forms airlines movies, Limits to
and The working been think engage forms. our is innovative in-flight and relevant are all makes to There individual there other and multiple more its passengers relationships high-quality media new and information, agreements objective airline, commerce the in entertainment, opportunities benefits their to preexisting are this services own many other companies on that times takes deliver their bandwidth available as lot wants that right out find the drives the to to Nobody engagement user popular experience but compelling tangible the at well, with in or to partners. right people and leveraging great think and brands. is our internet, at and the and have and internet We and passenger of possible more great that powerful it entertainment media, between for turn competitors devices, like airline passengers, connectivity connectivity break high engagement internet offering around, very more can advantage places scale. demonstrate we internet congest. success or we categories create in-flight a even us hard to connectivity or causes in-flight to We a if outperform into an
really the are pleased about progress on with prospects are the and for sites We the brand airline in the market, the innovation the ahead. internet enthusiastic and opportunities
of XX% Air AMSS year-over-year. So, for compared We have our our at funded last for segment. a record had such quarter. excludes Government quarter business the incrementally year. Systems $XXX up the a the is XX%, was new U.S. same almost as hit million, XX% to The still Force really contracts excellent backlog up third record $XXX up also the time another Revenue agreement. EBITDA which million, multiyear of outyears value backlog a
A on by our is being part our R&D we Our growth and creating services. own by is business that investments. significant based specific in of and strong and discretionary government are products initiating growth both services products being driven catalyzed
they small or generate a substantial that to and available have organizations themes benefits to the larger distribute of been the products relatively mainline lead is user or working we to the special of information provide One forces. make much on products those groups and/or take
and tactical to making lighter, expensive terminals link we’re less easier use. smaller, data instance, For
and markets variance We’re security tactical or reliable of resilient platforms scale thousands. things multi-gigabit even with we markets to upshot In network access have to doing of addressed centers. tens we some useful make larger cases, users thousands products such network similar can hundreds broadband make and with them as and is up satellite. data to security of The for support that of need information to of or organizations
pretty well, Systems. revenues and we’ve are So grow earnings been Government far, in able our things and both steadily to going
globally Internet. contract. connectivity users distributed actually business with there’s of in-flight numbers commercial $X.X One Ka-band our billion support synergy scale global As Ku, in as demand, for emerging more or of among would aeronautical of our synergy more in-flight multi-year example we such larger government commercial to markets such be mobility efforts many and jets services mobility with
cloud-based connectivity. Another distribution with tactical Services products sustain would or video that growth audio in Overall, the be Government steady commonality the to of pleased be and in-flight growth top we our our live between continue streams video future. and opportunities over into for to
Okay.
So finally, our outlook is it what driver’s quarter, and similar is key last to was think message thing. we very good which a growth
to gaining adjusted shipments though those combination more levels. not and As year. fiscal bringing growth last QX, contributor largest plan in during airline services third expected products connectivity the EBITDA partners, this quarters, Meanwhile, activating all flywheel the has the new growth and been activations of on overachieved in-flight our shipping our momentum. expected, connectivity be the and strong this significant this to internal terminals demand into these that necessarily service growth. Based than we’ve strong continue is two from should of our we strong exceptional in and exceptionally was a quarter’s contributor at In-flight quarter to planes effect year
‘XX, benefits Satellite ‘XX we’re see sales, While seeing in benefits we’ll fiscal significant Services entering in from the greater cumulative equipment our associated segment fiscal from services.
have brands, passengers, discretionary to benefiting we growth partners sustain avoid connectivity our has into opportunities largest costs working existing entertainment their with more contributor We airline and the engage are as number United as expand to good with we’re our years. the associated several our flow and to them new as better strong in-flight order other growth been with expected, Aeromexico substantially of also leverage Government revenue that to next periods a Also, We’ve partners we’ve all project forms create as such turned fiscal pursuing shipments with product this prior of to and in well airlines We had next revenue. service new opportunities R&D and and Systems streams. opportunities from year. see well-aimed help into
services government we constellation see Looking on and catalyst ourselves capitalize out ViaSat-X for growth to as position that. the further, strong we to continue a
and earnings to always, segment that important revenues can context. lumpy As results and consider be quite in government it’s
As through ARPU subscriber a U.S. committed grow we combination said and to previously, we judicious of count. fixed remain broadband profitably revenue
This quarter, consistent it was financial include our growth with believe our ARPU, growth but we will subscriber objectives. future
to grow earn EBITDA and investments. good adjusted We’re Satellite margins incremental total cost segment on revenues fixed aiming our Services
We million and a better adjusted earlier on $X Shawn investments the upside the basis, excellent, quarter, and we generated $XX of sequential but financial affirms the have same significant million rapidly approach. quarter through of are than nascent revenue, and small, our won’t more prudent in incremental gain Simultaneously, talked do we’re we it’s about million growing Wi-Fi which that each our on potential. excluding businesses of business. $XX is community managing This EBITDA, the necessarily flow making are enterprise about historical but indicative incremental way
phase. As we’ve the said, on as it more our ViaSat-X moderating primarily are ships R&D manufacturing constellation into capital-intensive expenses the
at do the done opportunistic an total our year Third as job into shows believe quarter discretionary terms strong a the this of a fiscal and We expenses growth and or percentage R&D past good near that is of allocating we’ll so in in on continue attractive to markets basis. absolute we’ve floor both revenue. R&D of
making first and to investments good are into Europe, make and East ViaSat-X the Africa constellations satellite. significant on the the of Middle Americas continue We the progress capital production two,
stage. into the manufacturing well We’re
XXXX. calendar to ViaSat-X launch to first early XXXX targeted is class The satellite late
more first later balance, fall, have XXXX an is the which while program early launch than of it now anticipated. last taking others phases scheduled than was a satellite little would be On likely previously are shortened. longer Some
it bandwidth takes into management planning and financial Our this account. and conservative, is
is and reached satellite the ‘XX. of that calendar launch agreement for in the expected, targeted second Asia-Pacific half As third Boeing we with
also largely the a concluding are balance finance significantly We strong working arrangements our a operations for with cash continue as combination liquidity. launch whole as a we constellation by insurance capital net leverage strong through proceeds. and growth on adjusted debt maintaining investments from of augmented reduced through plenty flow EBITDA can sheet ViaSat-X the We expected, to of while
we and markets Systems consider they growth emerging very attractive seeing some to opportunities or arrive. Wi-Fi success connectivity, continue are act Government by in We our as those potential in-flight on and and unlocked community
in order sustained continued EBITDA and through into we the continues, of book backlog opportunities ‘XX good balance fiscal and so and growth to a significant fiscal for growth see ‘XX. revenue confidence build Our adjusted
questions. this happy we’ll and that to point our remarks prepared take So concludes be at
