The earnings call presented a balanced view with notable growth in aviation and defense segments, cost efficiencies, and strong cash flow, but also highlighted challenges in fixed broadband and maritime revenue. Overall, the sentiment is cautiously optimistic with strategic focus on debt reduction and cash flow generation.

Company Guidance

During Viasat's third-quarter fiscal year 2025 earnings call, the company provided guidance indicating strong performance and an optimistic outlook for the rest of the year. The company's revenue for the quarter was $1.12 billion with an adjusted EBITDA of $393 million, reflecting a 35% adjusted EBITDA margin. Viasat reported growth in key areas, such as a 13% year-over-year increase in commercial in-flight connectivity aircraft in service and an 18% growth in business jets. The backlog for aviation grew by 22% year-over-year. The Defense and Advanced Technologies segment also showed robust performance with a 20% revenue increase year-over-year and an awards increase of 49%. Viasat is on track to meet its full-year guidance, focusing on capital efficiency, cash generation, and debt reduction. The company also announced a $200 million reduction in capital expenditure guidance for the fiscal year. Looking ahead, Viasat anticipates fiscal 2026 to be a pivotal year, with expectations of revenue growth and modest adjusted EBITDA growth driven by the launch of ViaSat-3 satellites and the rollout of the NexusWave service.

Aviation Growth and Backlog Increase

Commercial in-flight connectivity aircraft in service grew about 13% year-over-year, business jets grew about 18%, and backlog grew 22% year-over-year.

Defense and Advanced Technologies Surge

Revenues in the Defense and Advanced Technologies segment grew almost 20% year-over-year, with backlog up 26% and awards up 49%.

Cost Efficiency and Capital Reduction

Achieved $200 million reduction from prior CapEx guidance, with fiscal 2025 CapEx expected at approximately $1.1 billion.

Strong Cash Flow and EBITDA Performance

Operating cash flow was $219 million, up more than 60%, and adjusted EBITDA was $393 million with a 35% margin.

Positive Customer Feedback and New Contracts

Expanding global partnerships and customer base, notably with a full fleet contract from STARLUX in Asia Pacific.

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ViaSat (VSAT) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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VSAT Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 21, 2025	2025 (Q4)	-0.47 / -	-0.24	―	―	―
Feb 06, 2025	2025 (Q3)	-0.82 / -1.23	0.24	-612.50% (-1.47)
Nov 06, 2024	2025 (Q2)	-0.54 / -1.07	1.19	-189.92% (-2.26)
Aug 07, 2024	2025 (Q1)	-0.18 / -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	―	―
May 17, 2023	2023 (Q4)	-0.27 / 0.17	0.06	183.33% (+0.11)	―
Feb 07, 2023	2023 (Q3)	0.25 / -0.14	0.33	-142.42% (-0.47)	―

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

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VSAT Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 06, 2025	$9.52	$11.38	+19.54%
Nov 06, 2024	$10.28	$9.48	-7.78%
Aug 07, 2024	$17.77	$24.49	+37.82%
May 21, 2024	$18.84	$15.74	-16.45%

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.

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