Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Viasat Inc reported a quarter showing gradual financial improvement, healthy commercial and government demand, and steady execution on its capital-intensive satellite roadmap, offset by continued fixed broadband weakness, uneven segment results, and ongoing leverage management.</li><li>Net loss narrowed to USD 61 million from USD 138 million due to a better service revenue mix, lower depreciation and amortization, and reduced SG&A.</li><li>Revenue rose 2% year over year to USD 1.1 billion, with Communications Services up 1% and Defense and Advanced Technologies up 3%.</li></ul>

Viasat Inc reported a quarter showing gradual financial improvement, healthy commercial and government demand, and steady execution on its capital-intensive satellite roadmap, offset by continued fixed broadband weakness, uneven segment results, and ongoing leverage management.Net loss narrowed to USD 61 million from USD 138 million due to a better service revenue mix, lower depreciation and amortization, and reduced SG&A.Revenue rose 2% year over year to USD 1.1 billion, with Communications Services up 1% and Defense and Advanced Technologies up 3%.

Viasat Inc: How Will the High-Stakes ViaSat-3 Launch Rewrite Its Growth Story?

<ul><li>Viasat Inc. has showcased a pivotal fiscal year 2025 with a focus on laying the groundwork for accelerated growth and enhanced cash flow through operational and strategic advancements.</li><li>Positively, Viasat met or surpassed guidance metrics, achieved notable new contract awards, and made strides in its capital structure.</li><li>Integrating the ViaSat-3 F1 into its global network emerged as a significant milestone, promising improvements in user experience and network efficiency.</li></ul>

Viasat Inc. has showcased a pivotal fiscal year 2025 with a focus on laying the groundwork for accelerated growth and enhanced cash flow through operational and strategic advancements.Positively, Viasat met or surpassed guidance metrics, achieved notable new contract awards, and made strides in its capital structure.Integrating the ViaSat-3 F1 into its global network emerged as a significant milestone, promising improvements in user experience and network efficiency.

ViaSat Inc.: Targeting Multi-Billion Dollar Markets with Bold Expansion in Space

<ul><li>Viasat's latest financial results provide a comprehensive view of its current performance and future outlook in the satellite communications industry.</li><li>The company demonstrated a solid financial standing, with revenues for the third quarter of fiscal year 2025 at $1.12 billion and an adjusted EBITDA of $393 million, reflecting a 3% increase year-over-year.</li><li>The adjusted EBITDA margin stood at 35%, indicating moderate growth and operational efficiency improvements.</li></ul>

Viasat's latest financial results provide a comprehensive view of its current performance and future outlook in the satellite communications industry.The company demonstrated a solid financial standing, with revenues for the third quarter of fiscal year 2025 at $1.12 billion and an adjusted EBITDA of $393 million, reflecting a 3% increase year-over-year.The adjusted EBITDA margin stood at 35%, indicating moderate growth and operational efficiency improvements.

Viasat’s Global Satellite Game Plan: Could Its Flexible Coverage Strategy Up Their Game?

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

<ul>
<li>Starlink’s Direct-to-Phone Semiconductor Integration Push Signals a Major Shift Coming for Telecom</li>
<li>Direct-To-Satellite Connectivity Could Become Critical for a Market-Competitive Smartphone SoC Design</li>
<li>Leadership in Satellite Connectivity Will Soon Mean Leadership in Smartphone SoCs</li>
</ul>


Starlink’s Direct-to-Phone Semiconductor Integration Push Signals a Major Shift Coming for Telecom
Direct-To-Satellite Connectivity Could Become Critical for a Market-Competitive Smartphone SoC Design
Leadership in Satellite Connectivity Will Soon Mean Leadership in Smartphone SoCs


MediaTek: Satellite Connectivity the Next Strategic Battleground for Mobile SoCs (Structural Long)

<ul><li>Viasat recently reported its financial results for the second quarter of fiscal year 2025, presenting a mixed performance.</li><li>On the positive side, the company posted better-than-expected growth in revenue and adjusted EBITDA, with new contract awards reaching a record $1.3 billion, boosted significantly by the Defense and Advanced Technologies segment.</li><li>This growth was driven by increased demand in areas like cybersecurity, ground systems, and space mission systems.</li></ul>

Viasat recently reported its financial results for the second quarter of fiscal year 2025, presenting a mixed performance.On the positive side, the company posted better-than-expected growth in revenue and adjusted EBITDA, with new contract awards reaching a record $1.3 billion, boosted significantly by the Defense and Advanced Technologies segment.This growth was driven by increased demand in areas like cybersecurity, ground systems, and space mission systems.

Viasat Inc.: Will Its Innovations in Satellite Design & Partnerships Be A Breakthrough Move? - Major Drivers

United States

ViaSat, Inc. provides advanced broadband digital satellite communications and other wireless networking and signal processing equipment and services.  The Company's defense products include satellite communications products consisting of modems, terminals, and network control systems, advanced multifunction information distribution systems, and simulation test equipment.

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Viasat Inc (VSAT US)

Viasat Inc: How Will the High-Stakes ViaSat-3 Launch Rewrite Its Growth Story?

Viasat Inc reported a quarter showing gradual financial improvement, healthy commercial and government demand, and steady execution on its...

Baptista Research

ViaSat Inc.: Targeting Multi-Billion Dollar Markets with Bold Expansion in Space

Viasat Inc. has showcased a pivotal fiscal year 2025 with a focus on laying the groundwork for accelerated growth and enhanced cash flow through...

Baptista Research

Viasat’s Global Satellite Game Plan: Could Its Flexible Coverage Strategy Up Their Game?

Viasat's latest financial results provide a comprehensive view of its current performance and future outlook in the satellite communications...

Baptista Research

MediaTek: Satellite Connectivity the Next Strategic Battleground for Mobile SoCs (Structural Long)

Push by Starlink to engage with chipmkers for direct to satellite technology in smartphones could revolutionize the telecom industry by making...

Vincent Fernando, CFA

Viasat Inc.: Will Its Innovations in Satellite Design & Partnerships Be A Breakthrough Move? - Major Drivers

Viasat recently reported its financial results for the second quarter of fiscal year 2025, presenting a mixed performance. On the positive side,...

Baptista Research

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