BusinessTechnology

Viasat’s I6 F2 Satellite Malfunctions

A Viasat ($VSAT) communications satellite has malfunctioned, the company announced Thursday, marking the second such failure within the span of a month. 

This time, the issue is with a new member of the Inmarsat fleet, which Viasat acquired in May. The I6 F2 satellite launched in February as a backup, providing spare L-band and Ka-band capacity “consistent with deploying and operating a resilient, redundant network,” CEO Mark Dankberg said in a statement. The Airbus-made satellite suffered a power failure while on its way to its planned orbit and never began service.

The company emphasized that the power issue won’t interfere with existing services or impact its revenue prospects for the year. Still, it’s looking unlikely that it’ll be able to salvage the satellite.

Flashback: In mid-July, Viasat announced that the $750M Viasat-3 Americas satellite had failed to deploy a reflector—a malfunction that would keep it from performing to its full capacity. The company’s shares dropped >28% in one day, the largest single-day loss in the company’s history, and its price has not yet recovered.

Viasat is still investigating the issue with the satellite, but the forecast isn’t looking good. 

Market check: Viasat revealed news of the I6 F2 malfunction on Thursday. Since then, $VSAT is down ~6%.

Related Stories
BusinessVC/PE

Unseenlabs Raises €85M for Maritime Tracking

Unseenlabs, a French space company building a constellation for maritime surveillance, has raised an €85M ($92.2M) funding round that will support its expansion outside of Europe.

BusinessVC/PE

SpaceFields Closes an $800,000 Seed Round

SpaceFields, a startup building novel rocket engines and propulsion systems, has closed $800,000 in seed funding, the Bengaluru, India-based company announced yesterday.

Business

SpaceX Improves Falcon 9 Performance and Flies a Record 24 Starlink v2 Mini Satellites

After over 300 flights and 13 years in service, Falcon 9 continues to improve as SpaceX tweaks the design for higher performance. 

Business

Lockheed Shows Off its New Speed

Lockheed Martin ($LMT) is trying to buck the sluggish reputation often attributed to defense primes.