Jun 2026 (Q1 FY27) — Aug 4, 2026
Viasat Q1 FY27 — Strong Cash Flow and Record DAT Awards
Read the full callViasat (VSAT) earnings
- Jun 2026
- Jun 2026 (Q1 FY27)
- Mar 2026
Viasat earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,157 | −1.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 4.1 | +0.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | -51.7 | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
6 of 7 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Maritime revenue return to year-over-year growth (FY27) | Return to year-over-year maritime revenue growth, sustained later in FY27 | Mar 2026 | We expect maritime vessels and service to decline modestly compared to fiscal '26 but expect significant growth in the NexusWave installed base that offers customers more value and drives higher ARPA. | At Risk |
| Fiscal 2026 adjusted EBITDA growth | Grow adjusted EBITDA relative to FY25 (later quantified as flattish/flat year-over-year) | Jun 2024 | We achieved our financial guidance for the year, but for Viasat, fiscal '26 was about more than making the numbers. | Achieved |
| Maritime revenue return to year-over-year growth (FY26) | Return to year-over-year maritime revenue growth by end of FY26 | Dec 2024 | We didn't quite hit our objective of returning Maritime revenue to growth. Revenue declined 1% as vessels and service were down. | Missed |
1 of VIASAT INC's 22 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 19 more targets are in the full ledger.
Claimed
- Record new awards and backlog in the Defense and Advanced Technology (DAT) segment, including the next phase of the Protected Tactical SATCOM-Global (PTS-G) program.
- Positive free cash flow of $72 million, up 19% year-over-year, driven by operating cash flow of $291 million.
- Government SATCOM services revenue grew 10% year-over-year.
- Net debt relative to trailing EBITDA improved by 0.4x to approximately 3.2x.
- Successfully completed all deployments for ViaSat-3 Flight 2 and reflector/boom deployment for Flight 3, with Flight 3 expected service entry in late August or early September.
Qualified
- Company-wide revenue declined approximately 1% year-over-year, or flat excluding $22 million impact from Navarino sale and lower IP licensing.
- Adjusted EBITDA was $381 million, down 7% year-over-year, or flat excluding $22 million impact from Navarino sale and lower IP licensing.
- Fixed services and other revenue was down 27% with subscribers declining to 115,000.
- Maritime revenue declined 7% as vessels in service were down.
- Space and Mission Systems revenue declined 24% due to a supplier delay and transition from development to production.
Price
$60.29 +2.48% · +$1.46
Performance +68.9% 1Y
1Y: $35.69 on 17 Oct 2025 → $60.29. High $89.81 (30 Jun 2026), low $30.35 (21 Nov 2025).
- Previous close
- $58.83
- 52-week range
- $30.35 – $89.81
- One year
- +62.55%
Overview
- Symbol
- VSAT
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
6 of 7 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Maritime revenue return to year-over-year growth (FY27) | Return to year-over-year maritime revenue growth, sustained later in FY27 | Mar 2026 | We expect maritime vessels and service to decline modestly compared to fiscal '26 but expect significant growth in the NexusWave installed base that offers customers more value and drives higher ARPA. | At Risk |
| Fiscal 2026 adjusted EBITDA growth | Grow adjusted EBITDA relative to FY25 (later quantified as flattish/flat year-over-year) | Jun 2024 | We achieved our financial guidance for the year, but for Viasat, fiscal '26 was about more than making the numbers. | Achieved |
| Maritime revenue return to year-over-year growth (FY26) | Return to year-over-year maritime revenue growth by end of FY26 | Dec 2024 | We didn't quite hit our objective of returning Maritime revenue to growth. Revenue declined 1% as vessels and service were down. | Missed |
Claimed
- Record new awards and backlog in the Defense and Advanced Technology (DAT) segment, including the next phase of the Protected Tactical SATCOM-Global (PTS-G) program.
- Positive free cash flow of $72 million, up 19% year-over-year, driven by operating cash flow of $291 million.
- Government SATCOM services revenue grew 10% year-over-year.
- Net debt relative to trailing EBITDA improved by 0.4x to approximately 3.2x.
- Successfully completed all deployments for ViaSat-3 Flight 2 and reflector/boom deployment for Flight 3, with Flight 3 expected service entry in late August or early September.
Qualified
- Company-wide revenue declined approximately 1% year-over-year, or flat excluding $22 million impact from Navarino sale and lower IP licensing.
- Adjusted EBITDA was $381 million, down 7% year-over-year, or flat excluding $22 million impact from Navarino sale and lower IP licensing.
- Fixed services and other revenue was down 27% with subscribers declining to 115,000.
- Maritime revenue declined 7% as vessels in service were down.
- Space and Mission Systems revenue declined 24% due to a supplier delay and transition from development to production.
The full ledger
Open VIASAT INC’s full ledger
A free account opens 5 company ledgers a month. All 22 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q4 FY26) — May 28, 2026
Viasat Q4 FY26 — Strong Cash Flow and Strategic Fleet Expansion
Read the full callEvery analysed call
Viasat earnings calls (VSAT)
Financials
What the filings say
Net profit, year on year: +8% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,122 | 1,124 | 1,147 | 1,171 | 1,141 | 1,157 | 1,171 | 1,157 |
| Operating profit | -25 | 21 | -154 | 47 | 36 | 26 | -1 | 47 |
| Operating margin | −2.2% | 1.9% | −13.4% | 4.0% | 3.1% | 2.3% | −0.1% | 4.1% |
| Interest | 115 | 94 | 106 | 100 | 93 | 87 | 79 | 82 |
| Profit before tax | -119 | -162 | -241 | -45 | -45 | 93 | 102 | -20 |
| Tax rate | −5.0% | 7.3% | −1.6% | −14.7% | −24.0% | 63.2% | 39.3% | −116.1% |
| Net profit | -138 | -158 | -246 | -56 | -61 | 25 | 59 | -52 |
| EPS ($ per share) | -1.07 | -1.23 | — | -0.43 | -0.45 | 0.18 | — | -0.38 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | 246 | 245 | 249 | 234 | 1,318 | 249 | -326 | -360 |
| Total liabilities | 1,999 | 2,834 | 2,962 | 3,707 | 3,870 | 11,257 | 10,804 | 10,497 |
| Fixed assets | 2,125 | 2,587 | 3,050 | 3,705 | 4,378 | 7,557 | 7,406 | 7,273 |
| Total assets | 3,915 | 4,884 | 5,349 | 6,389 | 7,730 | 16,329 | 15,449 | 15,227 |
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 328 | 437 | 727 | 506 | 368 | 688 | 908 | 1,590 |
| Cash from investing | -489 | -759 | -885 | -1,130 | 768 | -1,291 | -758 | -759 |
| Cash from financing | 355 | 365 | 150 | 644 | -66 | 1,124 | -443 | -694 |
| Net cash flow | 190 | 43 | -8 | 15 | 1,069 | 522 | -289 | 135 |
| Capital expenditure | -637 | -694 | -827 | -938 | -1,077 | — | — | — |
| Free cash flow | -309 | -257 | -100 | -433 | -709 | — | — | — |
VSAT revenue by segment
Defense and Advanced Technologies grew from 26% to 29% of revenue over the last two years.
| Segment | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Communication Services | 74% | 73% | 72% | 71% | 73% | 71% | 69% | 71% | -0.3% |
| Defense and Advanced Technologies | 26% | 27% | 28% | 29% | 27% | 29% | 31% | 29% | -3.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
VSAT operating KPIs by quarter
| KPI | Mar 2026 Q4 FY26 | Jun 2026 Q1 FY27 | Change vs prior quarter |
|---|---|---|---|
| Backlog | ~$4.1BBacklog was a record at approximately $4.1 billion, up 15% with double-digit growth in both Communication Services and DAT.Source: earnings call transcript | $4.2BBacklog was $4.2 billion, up almost 19% with growth in Communication Services of 13% and in DAT of 32%.Source: earnings call transcript | — |
| Commercial aircraft in service Aviation | ~4,450Aviation revenue grew 11%, ending with approximately 4,450 commercial aircraft in service, a 10% increase year-over-year, combined with higher average revenue per aircraft, with units flowing in and out of our aircraft unit backlog each quarter.Source: earnings call transcript | ~4,530Aviation revenue grew 11%, ending with approximately 4,530 commercial aircraft in service, a 10% increase year-over-year, combined with higher average revenue per aircraft.Source: earnings call transcript | — |
| Commercial aircraft unit backlog Aviation | 1,000At quarter end, the net of these factors left our commercial aircraft unit backlog at 1,000.Source: earnings call transcript | ~850Our IFC backlog at quarter-end was about 850 commercial aircraft.Source: earnings call transcript | — |
| NexusWave vessels in service Maritime | ~1,350We ended the quarter with about 1,350 NexusWave vessels in service, 1,500 more in backlog.Source: earnings call transcript | 1,700+We ended the quarter with more than 1,700 NexusWave vessels in service and continue to work on improving our installation rate, while our current order book exceeds 1,400 vessels.Source: earnings call transcript | — |
| NexusWave vessel backlog Maritime | 1,500We ended the quarter with about 1,350 NexusWave vessels in service, 1,500 more in backlog.Source: earnings call transcript | 1,400+We ended the quarter with more than 1,700 NexusWave vessels in service and continue to work on improving our installation rate, while our current order book exceeds 1,400 vessels.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q1 FY2027 · share of revenue
- US 68% ↓ 1 pt
- Non Us 32% ↑ 1 pt
As VSAT cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
185 filings between Nov 14, 2025 and Oct 9, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$71.16M
61 sales by 10 insiders
85% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 61
- Option exercise — converted options into shares
- 36
- Tax withheld — shares kept back by the company to cover tax
Also filed: 26 gifts, 1 code i.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| DANKBERG MARK D | — | $36.96M | Jun 8, 2026 |
| BALDRIDGE RICHARD A | — | $19.97M | Aug 7, 2026 |
| Blair Robert James | — | $3.67M | Aug 7, 2026 |
| Palmer Benjamin Edward | — | $2.91M | Oct 1, 2026 |
| Miller Craig Andrew | — | $2.71M | Oct 9, 2026 |
| Chase Garrett L. | — | $2.31M | Sep 21, 2026 |
| Duffy Shawn Lynn | — | $1.87M | Dec 12, 2025 |
| WISE THERESA | — | $384.2K | Aug 4, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 9, 2026 | Miller Craig Andrew SVP, Pres Viasat Government | Sale 10b5-1 plan | 900 | $65.5K |
| Oct 9, 2026 | Miller Craig Andrew SVP, Pres Viasat Government | Sale 10b5-1 plan | 5,805 | $417.5K |
| Oct 9, 2026 | Miller Craig Andrew SVP, Pres Viasat Government | Sale 10b5-1 plan | 5,188 | $368.6K |
| Oct 9, 2026 | Miller Craig Andrew SVP, Pres Viasat Government | Option exercise 10b5-1 plan | 11,893 | $189.8K |
| Oct 1, 2026 | Palmer Benjamin Edward SVP, Pres Commercial | Sale 10b5-1 plan | 2,000 | $139.7K |
| Sep 21, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Sale 10b5-1 plan | 2,380 | $182.4K |
| Sep 21, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Sale 10b5-1 plan | 1,620 | $125.3K |
| Sep 17, 2026 | Blair Robert James SVP, General Counsel | Tax withheld | 8,427 | $615.3K |
| Sep 17, 2026 | DANKBERG MARK D Chairman and CEO | Gift | 36,989 | $0 |
| Sep 17, 2026 | DANKBERG MARK D Chairman and CEO | Gift | 36,989 | $0 |
| Sep 17, 2026 | Chandran Girish CTO, SVP Engineering | Option exercise | 15,620 | $0 |
| Sep 17, 2026 | Miller Craig Andrew SVP, Pres Viasat Government | Option exercise | 15,620 | $0 |
| Sep 17, 2026 | Blair Robert James SVP, General Counsel | Option exercise | 15,620 | $0 |
| Sep 17, 2026 | Miller Craig Andrew SVP, Pres Viasat Government | Tax withheld | 7,948 | $580.4K |
| Sep 17, 2026 | Chandran Girish CTO, SVP Engineering | Tax withheld | 8,427 | $615.3K |
| Sep 17, 2026 | DANKBERG MARK D Chairman and CEO | Tax withheld | 43,336 | $3.16M |
| Sep 17, 2026 | DANKBERG MARK D Chairman and CEO | Option exercise | 80,325 | $0 |
| Sep 17, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Option exercise | 26,775 | $0 |
| Sep 17, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Tax withheld | 11,926 | $870.8K |
| Sep 16, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Option exercise | 26,048 | $0 |
| Sep 16, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Tax withheld | 11,602 | $823.2K |
| Sep 11, 2026 | STENBIT JOHN P Director | Gift | 6,933 | $0 |
| Sep 11, 2026 | STENBIT JOHN P Director | Gift | 6,933 | $0 |
| Sep 3, 2026 | LaPlante William Albert Director | Option exercise | 6,388 | $0 |
| Sep 3, 2026 | BALDRIDGE RICHARD A Director | Gift | 6,388 | $0 |
| Sep 3, 2026 | Pak Sean Director | Option exercise | 6,388 | $0 |
| Sep 3, 2026 | BALDRIDGE RICHARD A Director | Gift | 6,388 | $0 |
| Sep 3, 2026 | Frenkel Barbara L Director | Option exercise | 5,974 | $0 |
| Sep 3, 2026 | Pak Sean Director | Gift | 6,388 | $0 |
| Sep 3, 2026 | BALDRIDGE RICHARD A Director | Option exercise | 6,388 | $0 |
| Sep 3, 2026 | STENBIT JOHN P Director | Option exercise | 6,388 | $0 |
| Sep 3, 2026 | Pak Sean Director | Gift | 6,388 | $0 |
| Sep 3, 2026 | Paull Michael Director | Option exercise | 6,388 | $0 |
| Sep 3, 2026 | WISE THERESA Director | Option exercise | 6,388 | $0 |
| Sep 3, 2026 | YOON JINHY Director | Option exercise | 1,231 | $0 |
| Sep 3, 2026 | YOON JINHY Director | Gift | 1,231 | $0 |
| Sep 3, 2026 | YOON JINHY Director | Gift | 1,231 | $0 |
| Sep 3, 2026 | Ayyar Shekar G Director | Option exercise | 1,231 | $0 |
| Sep 2, 2026 | Pak Sean Director | Option exercise 10b5-1 plan | 5,000 | $187.2K |
| Sep 2, 2026 | Pak Sean Director | Gift 10b5-1 plan | 5,000 | $0 |
| Sep 2, 2026 | Pak Sean Director | Gift 10b5-1 plan | 5,000 | $0 |
| Sep 1, 2026 | STENBIT JOHN P Director | Sale 10b5-1 plan | 705 | $47.1K |
| Sep 1, 2026 | Palmer Benjamin Edward SVP, Pres Commercial | Sale 10b5-1 plan | 2,000 | $133.5K |
| Sep 1, 2026 | STENBIT JOHN P Director | Option exercise 10b5-1 plan | 1,250 | $46.8K |
| Aug 20, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Sale 10b5-1 plan | 2,040 | $153.7K |
| Aug 20, 2026 | Chase Garrett L. SVP, Chief Financial Officer | Sale 10b5-1 plan | 1,960 | $145.9K |
| Aug 17, 2026 | Curran Lisa L CO, Enterprise & Strategy | Tax withheld | 5,895 | $479.9K |
| Aug 17, 2026 | Palmer Benjamin Edward SVP, Pres Commercial | Option exercise | 5,000 | $0 |
| Aug 17, 2026 | Kreller Michael R President, New Ventures | Tax withheld | 2,225 | $181.1K |
| Aug 17, 2026 | FitzGerald Camellia E Chief Accounting Officer | Tax withheld | 1,342 | $109.3K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for VIASAT INC
Free account. Everything above stays public.
Write why you follow VIASAT INC and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading