Viasat abandons damaged satellite, accelerates financial outlook after investigation

Viasat will not replace its malfunctioning ViaSat-3 F1 satellite which lost over 90% of planned bandwidth.
The company expects to meet customer needs and growth targets without replacing the satellite.
Viasat now forecasts reaching positive free cash flow in first half of 2025, sooner than previously predicted.
The company's investigation into the satellite failure is ongoing.
Viasat stock jumped double digits as financial guidance was accelerated despite the satellite loss.