Viasat, Inc. provides broadband and communications products and services in the United States and internationally. It operates through Communication Services; and Defense and Advanced Technologies segments. The company offers satellite-based broadband and narrowband communications solutions; broadband services, including broadband internet access and voice over internet protocol; fixed and mobile broadband and narrowband services; develops and sells satellite, wireless products, and terminals; and design, develop, and produce space system solutions for geostationary, medium, and low earth orbit. It also provides in-flight connectivity, narrowband safety operational data, and other complementary services; multimedia connectivity for military and government; tactical and beyond-line-of-sight communications; intelligence surveillance and reconnaissance; L-band advanced communications element terminals; enterprise connectivity solutions; Internet-of-Things; and L-band managed, energy, and prepaid internet services. In addition, the company offers networking, cybersecurity, and information assurance products and services; high assurance internet protocol encryption solutions; MOJO expeditionary tactical gateway; government satellite communication systems, mobile and fixed broadband modems, ground and airborne terminals, antennas and gateways, Ka-band earth stations, and other multi-band/multi-function antennas, as well as design products for manpacks, aircraft, unmanned aerial vehicles, seagoing vessels, ground-mobile vehicles, space-based systems, and fixed applications. Further, it designs and develops GEO, LEO, and MEO satellites, payload, antenna technologies, and other small satellite platforms; develops commercial communication satellite product, orchestration of sovereign and multi-orbit solutions, and direct-to-device; and licenses intellectual property. Viasat, Inc. was incorporated in 1986 and is headquartered in Carlsbad, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.5B | $1.2B | $-575M | $-122M | -12.6% | 5.5% | -46.2% |
| 2024 | $4.3B | $364M | $-1.1B | $-851M | -21.3% | 67.6% | -198.5% |
| 2023 | $2.6B | $365M | $1.1B | $-796M | 28.4% | 5.7% | -7083.4% |
| 2022 | $2.4B | $387M | $-16M | $-485M | -0.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,417.18 | 2,556.16 | 4,283.76 | 4,519.57 |
| Cost Of Revenue | 1,711.28 | 1,834.75 | 2,902.10 | 3,029.63 |
| Gross Profit | 705.90 | 721.40 | 1,381.66 | 1,489.94 |
| Operating Expense | 819.04 | 877.36 | 2,271.47 | 1,587.42 |
| Operating Income | -113.14 | -155.96 | -889.81 | -97.48 |
| EBITDA | 386.93 | 365.03 | 363.98 | 1,237.46 |
| EBIT | -108.52 | -135.35 | -793.55 | -123.35 |
| Pretax Income | -137.91 | -162.16 | -1,193.95 | -545.29 |
| Tax Provision | -36.52 | 49.42 | -139.47 | -0.94 |
| Net Income | -15.53 | 1,084.81 | -1,068.90 | -574.96 |
| Net Income Common Stockholders | -15.53 | 1,084.81 | -1,068.90 | -574.96 |
| Total Expenses | 2,530.32 | 2,712.11 | 5,173.56 | 4,617.05 |
| Interest Expense | 29.39 | 26.81 | 400.40 | 421.94 |
| Interest Income | 0.50 | 19.51 | 96.26 | 83.92 |
| Research And Development | 149.47 | 128.92 | 150.65 | 142.39 |
| Selling General And Administration | 640.84 | 718.63 | 1,893.65 | 1,181.09 |
| Normalized EBITDA | 386.93 | 365.03 | 363.98 | 1,337.27 |
| Normalized Income | -114.72 | -217.58 | -1,058.48 | -475.32 |
| Market Cap | 8,420.19 | 8,420.19 | 8,420.19 | 8,420.19 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Viasat, Inc.this co. | VSAT | - | -14.64 | 1.85 | -12.6% | 11.58 |
| Teradata Corporation | TDC | $2.5B | 19.22 | 10.86 | 56.5% | 8.72 |
| Verra Mobility Corporation | VRRM | $2.4B | 16.70 | 7.79 | 46.6% | 8.73 |
| Insight Enterprises, Inc. | NSIT | $2.3B | 14.13 | 1.35 | 9.5% | 8.28 |
| ePlus inc. | PLUS | $2.3B | 20.77 | 2.29 |
| 11.0% |
| 10.97 |
| Alarm.com Holdings, Inc. | ALRM | $2.2B | 16.67 | 2.61 | 15.6% | 10.06 |
| DXC Technology Company | DXC | $2.1B | 5.18 | 0.62 | 12.0% | 2.16 |
| Digi International Inc. | DGII | $2.1B | 52.23 | 3.35 | 6.4% | 25.20 |
| SPS Commerce, Inc. | SPSC | $2.1B | 21.89 | 2.10 | 9.6% | 10.76 |
| Peer Median | - | 17.96 | 2.45 | 11.5% | 9.40 | |