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Intelsat S.A.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2021 10-Q, filed Nov 5, 2021. Its latest SEC filing is a 15-12B from Jan 24, 2022.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides satellite capacity and managed communications services to media companies, network and mobility providers, and government organizations.

How Did They Make Money?

Customers order satellite capacity and related services under service agreements, with service charges tied to the contracted period. Airline connectivity may be charged at a fixed monthly fee, by use, or both; equipment sales are counted when equipment ships.

revenue

Who Were Their Customers?

Media, network-services and government organizations buy satellite capacity and communications services. Sales go through direct and wholesale channels, with the channel varying by region, application and customer needs.

Customers above 10% of revenue, FY2020
of revenue from one customer
FY2018: 11% from one customer

Did Revenues Turn Into Profits?

No. It lost $911.7M in .

Operating income,
14% of revenue
▼ −31% vs ($388.6M, 19%)
Net income,
−48% of revenue
▼ 0% (Loss) vs (−$913.6M, −44%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q3 FY2021, the three months to Sep 30, 2021
Revenue
▲ +7%
vs $489.4M in Q3 FY2020
Net income
▲ +815% (Loss)
vs −$15.9M in Q3 FY2020
Media share of revenue vs 41.6% in Q3 FY2020
  • Jan 5, 2022 Received C-band acceleration payments Received approximately $1,197,842,000 after meeting the accelerated clearing deadline.
  • Dec 20, 2021 Court confirmed the amended reorganization plan The plan provides for new equity distributions and says existing common shares will be diluted and deemed extinguished.
  • Oct 21, 2021 CEO Stephen Spengler plans to retire He plans to retire when the company emerges from restructuring and a successor is named.

Shrank. Revenue fell 11% in 3 years, from $2.1B in to $1.9B in , about 4% a year.

Direct airline services The latest report adds direct airline services: after acquiring Gogo’s commercial aviation business, Intelsat provides in-flight connectivity, passenger entertainment and connected-aircraft services; the older report described mobility providers contracting for satellite connectivity.

Revenue over time
Network Services Media Services Government Services Satellite-related services
$2.5B$1.3B$0

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