The earnings call reflects a balanced sentiment with notable achievements in revenue growth, InfoSec awards, and satellite progress, countered by increased net loss, challenges in fixed broadband, and slow OEM aircraft recoveries.

Company Guidance -

Q2 2026

In the recent earnings call for the first quarter of fiscal year 2026, Viasat provided guidance that highlighted several key metrics and strategic initiatives. The company reported a net loss of $56 million, compared to a net loss of $33 million in the same period the previous year, largely due to increased depreciation, amortization, and a higher income tax provision. Revenue grew by 4% year-over-year, primarily driven by double-digit growth in the Defense and Advanced Technologies segment. Adjusted EBITDA increased by 1% year-over-year, reflecting strong performance in information security and cyber defense, offset by declines in intellectual property licensing and maritime revenue. Viasat emphasized its focus on deploying the ViaSat-3 satellites, with Flight 2 expected to ship to the launch site by September 2025, and Flight 3 progressing through mechanical environmental testing. The company aims to optimize the integration of Viasat and Inmarsat resources, enhance cash conversion, and reduce capital intensity, with capital expenditures projected at $1.2 billion for the year, down $100 million from previous guidance. Additionally, Viasat is targeting sustained free cash flow growth and leverage reduction, with plans to repay a $300 million Inmarsat term loan B as a priority. The company is also exploring shared infrastructure models for its non-terrestrial network initiatives to reduce costs and improve capital efficiency.

Revenue Growth Driven by Defense and Advanced Technologies

Revenue grew 4% year-over-year, driven largely by double-digit growth in the Defense and Advanced Technologies segment, showcasing strong market demand and diverse technology portfolio.

Adjusted EBITDA and Cash Flow Improvement

Adjusted EBITDA increased by 1% year-over-year, reaching $408 million, with a 35% adjusted EBITDA margin. The company also generated $60 million in positive free cash flow for the quarter.

Significant Awards in InfoSec and Cyber Defense

InfoSec and cyber defense awards amounted to $224 million, with a 225% year-over-year increase and a book-to-bill ratio of 2.2x, reflecting strong demand for encryption products.

Progress on ViaSat-3 Satellite Series

The company completed testing and is preparing for the launch of ViaSat-3 Flights 2 and 3, which are expected to significantly increase bandwidth capacity.

NexusWave Maritime Product Gains Momentum

NexusWave surpassed 1,000 orders since introduction, with 190 vessels installed in the first quarter, more than double the rate of the prior quarter.

ViaSat (VSAT) Earnings, Revenues Date & History

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VSAT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2026 (Q2)	-0.58 / -	-1.07	―	―	―
Aug 05, 2025	2026 (Q1)	-0.65 / -0.43	-0.26	-65.38% (-0.17)
May 20, 2025	2025 (Q4)	-0.58 / -1.89	-0.24	-687.50% (-1.65)
Feb 06, 2025	2025 (Q3)	-0.85 / -1.23	0.24	-612.50% (-1.47)
Nov 06, 2024	2025 (Q2)	-0.55 / -1.07	1.19	-189.92% (-2.26)
Aug 07, 2024	2025 (Q1)	-0.08 / -0.26	0	―	―
May 21, 2024	2024 (Q4)	0.47 / -0.24	0.17	-241.18% (-0.41)	―
Feb 06, 2024	2024 (Q3)	0.35 / 0.24	-0.14	271.43% (+0.38)	―
Nov 08, 2023	2024 (Q2)	0.72 / 1.19	-0.18	761.11% (+1.37)	―
Aug 09, 2023	2024 (Q1)	-0.50 / 0.00	0.14	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

VSAT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$21.29	$27.82	+30.67%
May 20, 2025	$10.53	$10.01	-4.94%
Feb 06, 2025	$9.52	$11.38	+19.54%
Nov 06, 2024	$10.28	$9.48	-7.78%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.