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A long exposure image shows a trail left by SpaceX’s Falcon Heavy rocket during the launch of the ViaSat-3 Americas satellite from Florida on April 30, 2023.
viasat
viasatThe company’s stock fell in after-hours trading on Wednesday after the company disclosed that its latest launched communications satellite had suffered a malfunction.
The Carlsbad, California-based company said an “unexpected event occurred” during the deployment of its Visat-3 Americas satellite reflector that “could materially affect” performance. The satellite was successfully launched in April on SpaceX’s Falcon Heavy rocket.
“We are disappointed by the latest developments,” Mark Dankberg, chief executive of Viasat, said in a statement.
Shares of Viasat fell as much as 21% in extended trading from their previous close of $42.98 a share.
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Viasat did not disclose the identity of the inverter manufacturer in its release. Dankberg said his company is “working closely” with the manufacturer to resolve the issue. A Viasat spokesperson confirmed to CNBC that the manufacturer is a leading aerospace and defense company — but noted that it is not Boeingwho built the 702MP+ bus that represents the spacecraft’s structure and power.
The reflector design on the Viasat-3 Americas satellite appears to be identical to the “AstroMesh” line of reflectors. Northrop Grumman Announce. In addition, Viasat said the “long boom” supporting the reflector is a “direct derivative” of the telescoping booms that Northrop Grumman designed the James Webb Space Telescope for NASA.
Viasat previously thanked Boeing and Northrop Grumman as part of its joint team behind the Viasat-3 Americas satellite.
Northrop Grumman did not immediately respond to CNBC’s request for comment.
Artist’s rendering of the ViaSat-3 Americas satellite in orbit above Earth.
viasat
The Viasat website confirmed that there was “no disruption” to existing customers due to the incident, as the company has 12 other satellites in service.
The Viasat-3 Americas satellite is the first of three satellites the company has long expected to boost its broadband business. In a press release on Wednesday, Viasat indicated that it may reallocate one of its upcoming ViaSat-3 satellites, which is slated to serve EMEA (Europe, Middle East, and Africa) and APAC (Asia Pacific), replacing the satellite that was It is launched to serve North and South America.
Industry publications Note SpaceIntelReport that if the satellite is lost, Viasat may claim $420 million. One space insurance agent described the situation to CNBC as a “market-changing event” for the sector.
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