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: 2026
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 |
|---|---|---|---|---|---|---|---|
| 2026 | $4.6B | $1.8B | $-34M | $597M | -0.7% | 2.7% | -94.1% |
| 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% | - | - |
| 2022 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,556.16 | 4,283.76 | 4,519.57 | 4,640.28 |
| Operating Revenue | - | 2,556.16 | 4,283.76 | 4,519.57 | 4,640.28 |
| Cost Of Revenue | - | 1,834.75 | 2,902.10 | 3,029.63 | 3,107.06 |
| Gross Profit | - | 721.40 | 1,381.66 | 1,489.94 | 1,533.22 |
| Operating Expense | - | 877.36 | 2,271.47 | 1,587.42 | 1,425.10 |
| Research And Development | - | 128.92 | 150.65 | 142.39 | 164.91 |
| Selling General And Administration | - | 718.63 | 1,893.65 | 1,181.09 | 999.48 |
| Total Expenses | - | 2,712.11 | 5,173.56 | 4,617.05 | 4,532.16 |
| Operating Income | - | -155.96 | -889.81 | -97.48 | 108.12 |
| Total Operating Income As Reported | - | -155.96 | -889.81 | -97.48 | 108.12 |
| EBITDA | - | 365.03 | 363.98 | 1,237.46 | 1,819.52 |
| Normalized EBITDA | - | 365.03 | 363.98 | 1,337.27 | 1,831.45 |
| EBIT | - | -135.35 | -793.55 | -123.35 | 465.05 |
| Interest Income | - | 19.51 | 96.26 | 83.92 | 205.85 |
| Interest Expense | - | 26.81 | 400.40 | 421.94 | 360.25 |
| Net Interest Income | - | -7.30 | -304.14 | -338.02 | -154.40 |
| Other Non Operating Income Expenses | 4.12 | 1.10 | - | -9.98 | 163.01 |
| Other Income Expense | 4.12 | 1.10 | - | -109.79 | 151.08 |
| Interest Income Non Operating | - | 19.51 | 96.26 | 83.92 | 205.85 |
| Interest Expense Non Operating | - | 26.81 | 400.40 | 421.94 | 360.25 |
| Net Non Operating Interest Income Expense | - | -7.30 | -304.14 | -338.02 | -154.40 |
| Pretax Income | - | -162.16 | -1,193.95 | -545.29 | 104.80 |
| Tax Provision | - | 49.42 | -139.47 | -0.94 | 116.22 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -0.17 | -4.77 |
| Net Income Continuous Operations | - | -211.64 | -1,047.50 | -531.12 | 3.93 |
| Net Income From Continuing And Discontinued Operation | - | 1,084.81 | -1,068.90 | -574.96 | -34.09 |
| Net Income From Continuing Operation Net Minority Interest | - | -217.58 | -1,058.48 | -574.96 | -34.09 |
| Net Income | - | 1,084.81 | -1,068.90 | -574.96 | -34.09 |
| Net Income Common Stockholders | - | 1,084.81 | -1,068.90 | -574.96 | -34.09 |
| Net Income Including Noncontrolling Interests | - | 1,090.75 | -1,057.92 | -531.12 | 3.93 |
| Normalized Income | - | -217.58 | -1,058.48 | -475.32 | -26.92 |
| Diluted NI Availto Com Stockholders | - | 1,084.81 | -1,068.90 | -574.96 | -34.09 |
| Basic Average Shares | - | 76.91 | 125.85 | 130.21 | 136.56 |
| Diluted Average Shares | - | 76.91 | 125.85 | 130.21 | 136.56 |
| Reconciled Depreciation | - | 500.38 | 1,157.52 | 1,360.81 | 1,354.46 |
| Reconciled Cost Of Revenue | - | 1,364.19 | 1,971.74 | 1,932.76 | 2,013.31 |
| Total Unusual Items | - | 0 | 0 | -99.81 | -11.94 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -99.81 | -11.94 |
| Minority Interests | - | -5.94 | -10.98 | -43.84 | -38.01 |
| Net Income Discontinuous Operations | - | 1,302.39 | -10.42 | 0 | 0 |
| Earnings From Equity Interest Net Of Tax | - | -0.07 | 6.98 | 13.23 | 15.35 |
| Special Income Charges | - | 0 | 0 | -99.81 | -11.94 |
| Other Special Charges | - | - | - | 99.81 | 11.94 |
| Depreciation Amortization Depletion Income Statement | - | 29.81 | 227.16 | 263.93 | 260.71 |
| Depreciation And Amortization In Income Statement | - | 29.81 | 227.16 | 263.93 | 260.71 |
| Amortization | - | 29.81 | 227.16 | 263.93 | 260.71 |
| Amortization Of Intangibles Income Statement | - | 29.81 | 227.16 | 263.93 | 260.71 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Viasat, Inc.this co. | VSAT | $10.0B | -292.20 | 2.14 | -0.7% | 8.33 |
| Skyworks Solutions, Inc. | SWKS | $12.0B | 25.20 | 2.09 | 8.3% | 11.86 |
| Qorvo, Inc. | QRVO | $9.2B | 26.99 | 2.74 | 10.1% | 12.92 |
| Enphase Energy, Inc. | ENPH | $9.0B | 52.36 | 8.29 | 15.8% | 33.63 |
| Vishay Intertechnology, Inc. | VSH | $8.7B | - | 4.15 |
| - |
| - |
| - |
| - |
| -0.4% |
| 31.93 |
| MaxLinear, Inc. | MXL | $8.4B | -61.72 | 18.67 | -30.2% | -97.97 |
| Plexus Corp. | PLXS | $7.6B | 44.01 | 5.23 | 11.9% | 26.92 |
| ESCO Technologies Inc. | ESE | $7.6B | 25.28 | 4.91 | 19.4% | 31.35 |
| Clear Secure, Inc. | YOU | $7.3B | 66.70 | 40.97 | 61.4% | 33.05 |
| Peer Median | - | 26.99 | 5.07 | 11.0% | 29.14 | |