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Get filing alertsViasat reports Q1 FY2027 revenue down 1%, Defense backlog surges 32% to record high
Filed August 4, 2026 · Period ending August 4, 2026 · ~2 min read
Key Changes
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Q1 FY2027 revenue declined 1% YoY to $1.16B with net loss of $52M (improved from $56M prior year); Adjusted EBITDA fell 7% to $381M as aviation and government satcom growth was offset by fixed broadband decline and higher R&D spending.
Exhibit 99.2 view on EDGAR → -
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Defense segment backlog grew 32% YoY to record level with awards up 22%; company won next phase of Protected Tactical SATCOM-Global (PTS-G) program for national security space; company-wide backlog up 19%.
Exhibit 99.2 view on EDGAR → -
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VS-3 F2 satellite completed in-orbit testing with service entry expected by September 2026; VS-3 F3 reflectors deployed post-quarter with Asia-Pacific service entry anticipated late August or early September 2026.
Exhibit 99.2 view on EDGAR → -
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Reaffirmed FY2027 outlook: mid-single-digit revenue growth, Adjusted EBITDA flat to up slightly YoY, with Defense segment expected to grow mid-teens and Communications Services in low single-digits; capex guidance $950M-up to $1.0B.
Exhibit 99.2 view on EDGAR → -
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Post-quarter, signed Hapag-Lloyd to deploy NexusWave multi-orbit connectivity service across its global fleet, bonding Ka-band, LEO, LTE, and L-band networks for maritime operations.
Exhibit 99.2 view on EDGAR →
Summary
Viasat disclosed mixed Q1 FY2027 results with modest revenue and profitability declines offset by record Defense segment momentum. Revenue fell 1% year-over-year to $1.16 billion as a 4% Defense segment decline and flat Communications Services performance reflected ongoing fixed broadband headwinds and lower IP licensing revenue.
The net loss narrowed to $52 million from $56 million in the prior year quarter, driven by reduced interest expense from debt paydown. Adjusted EBITDA declined 7% to $381 million despite growth in aviation and government satcom, as higher R&D spending and the prior Navarino equity sale weighed on results.
The standout development is the Defense and Advanced Technologies segment, where backlog surged 32% year-over-year to a record level and awards grew 22%. The company secured the next phase of the Protected Tactical SATCOM-Global program, a key national security space initiative that validates Viasat's multi-orbit capabilities. Company-wide backlog rose 19%, supporting management's reaffirmed FY2027 outlook for mid-single-digit revenue growth and flat to slightly positive Adjusted EBITDA growth, with stronger second-half performance expected. The Defense segment is projected to grow mid-teens for the full year. Operationally, Viasat completed in-orbit testing on its VS-3 F2 satellite with service entry expected by September 2026, and post-quarter deployed reflectors on VS-3 F3 ahead of late August or early September Asia-Pacific service entry. These satellites expand capacity and geographic reach for both commercial and government services. The post-quarter Hapag-Lloyd NexusWave agreement adds a marquee maritime customer for Viasat's multi-orbit connectivity platform. With Defense momentum building and satellite deployments progressing, the company is positioning for accelerating growth in the fiscal year's second half.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Viasat released Q1 FY2027 financial results via shareholder letter and press release.
Added in current filing · verify on EDGAR →
On August 4, 2026, Viasat, Inc. released its financial results for the first quarter of fiscal year 2027 in a letter to shareholders that is available on the investor relations section of its website.
Viasat disclosed its first quarter fiscal year 2027 financial results through a shareholder letter posted to its investor relations website. The 8-K itself does not contain the actual financial metrics; those are in the attached exhibits (press release as Exhibit 99.1 and shareholder letter as Exhibit 99.2).
Event · Exhibit 99.1
Viasat published Q1 FY2027 financial results via shareholder letter and webcast, with a conference call scheduled for August 4, 2026.
Added in current filing · view on EDGAR →
Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today published its first quarter fiscal year 2027 financial results. A letter to shareholders and accompanying webcast slides are available on the Investor Relations section of the company’s website.
Viasat disclosed first quarter fiscal year 2027 financial results through a shareholder letter and webcast slides posted to its investor relations website. The 8-K does not include the actual financial figures; it announces their publication and availability on the company's website.
Show 1 minor / wording change
Added in current filing · view on EDGAR →
Management will host a conference call to discuss the results today, Tuesday, August 4, 2026 at 2:30 p.m. PT (5:30 p.m. ET).
Management scheduled a conference call for August 4, 2026 at 2:30 p.m. PT to discuss the Q1 FY2027 results with investors and analysts. The call is accessible via dial-in or live webcast on the investor relations website.
Event · Exhibit 99.2
Added in current filing · view on EDGAR →
For Q1 FY2027, we reported a net loss1 of $52 million, which is an improvement from a net loss of $56 million in Q1 FY2026. Improvement was primarily due to reduced interest expense reflecting continued progress in reducing debt and deleveraging, partially offset by an increased provision for income taxes. Q1 FY2027 revenue declined 1% year-over- year (YoY) reflecting a 4% decrease in the Defense and Advanced Technology (DAT) segment, while the Communications Services segment remained flat YoY. Adjusted EBITDA2 in Q1 FY2027 decreased by 7% YoY net of attractive growth in aviation, government satcom, and tactical networking, which was offset by an expected decline in our fixed broadband business, an expected decline in certain IP licensing and royalty-based revenue, increased research and development expenses, and the effect of the sale of our equity investment in Navarino in a prior period.
Viasat reported a Q1 FY2027 net loss of $52 million, improved from a $56 million loss in the prior year quarter, driven by lower interest expense from debt reduction. Revenue declined 1% year-over-year to $1.16 billion, with the Defense segment down 4% while Communications Services remained flat. Adjusted EBITDA fell 7% to $381 million, as growth in aviation, government satcom, and tactical networking was offset by declines in fixed broadband, IP licensing revenue, higher R&D spending, and the prior sale of the Navarino equity stake.
Added in current filing · view on EDGAR →
We generated $72 million in Free Cash Flow3 excluding non-recurring items, and achieved record backlog and awards in the Defense and Advanced Technology segment with 32% and 22% YoY growth, respectively. Company-wide, new contract awards in Q1 FY2027 increased 10% YoY, which contributed to an increase in backlog of 19% compared to prior year. Most notably, we secured the next phase of the Protected Tactical SATCOM-Global (PTS-G) program which we believe is indicative of the importance of innovation in the geosynchronous orbit component of a resilient, multi-orbit, multi-band national security space posture.
Viasat achieved record Defense and Advanced Technology segment performance with backlog growing 32% year-over-year and awards up 22%. Company-wide awards rose 10% and backlog increased 19%. The company won the next phase of the Protected Tactical SATCOM-Global (PTS-G) program, a key national security space initiative. The company generated $72 million in free cash flow excluding non-recurring items.
Added in current filing · view on EDGAR →
We successfully completed all deployments and the satellite bus In-Orbit Test (IOT) phase on VS-3 F2 and anticipate its service entry by September 2026. Subsequent to quarter end, we successfully completed reflector assembly deployments on VS-3 F3 and entered the IOT phase ahead of expected service entry over the Asia-Pacific (APAC) region in late August or early September 2026.
Viasat completed all deployments and in-orbit testing on the VS-3 F2 satellite, with service entry expected by September 2026. After quarter-end, the company successfully deployed reflectors on VS-3 F3 and entered in-orbit testing, with service entry over Asia-Pacific anticipated in late August or early September 2026. These satellites bring new capacity and geographic coverage flexibility to support both commercial and government services.
Added in current filing · view on EDGAR →
Subsequent to quarter end, ... announced an agreement with Hapag-Lloyd to deploy NexusWave across its global fleet, following successful onboard trials of the fully managed, bonded connectivity service. Hapag-Lloyd sought a future-proof connectivity platform capable of supporting increasingly data-driven operations, enhanced crew welfare, and the seamless integration of business-critical applications across its fleet. NexusWave will provide Hapag-Lloyd with high-speed fully managed, secure-by-design connectivity that intelligently bonds Ka-band, LEO, LTE and L-band ... networks supporting real-time collaboration, remote IT management, data-intensive applications, and enhanced vessel performance monitoring across the fleet.
After quarter-end, Viasat announced an agreement with Hapag-Lloyd to deploy its NexusWave multi-orbit connectivity service across Hapag-Lloyd's global fleet. NexusWave bonds Ka-band, LEO, LTE, and L-band networks to provide high-speed, secure connectivity supporting data-intensive maritime operations, crew welfare, and vessel performance monitoring. The agreement validates Viasat's multi-orbit approach in the maritime market.
Added in current filing · view on EDGAR →
Revenue and Adjusted EBITDA: We continue to expect mid-single-digit YoY revenue growth in FY2027 and Adjusted EBITDA to be flat to up slightly YoY, with stronger growth in second half of the fiscal year supported by our backlog, new orders, and ongoing pipeline. Communication Services Segment: We expect FY2027 segment revenue growth in the low single-digits YoY, driven by continued growth in aviation services, offset by a lower rate of decline in FS&O. Defense and Advanced Technologies Segment: We expect FY2027 segment revenue growth in the mid-teens YoY, driven primarily by strong growth in information security and cyber defense, as well as space and mission systems and tactical networking. Net Debt: We expect net leverage ratio to decrease slightly by the end of FY2027. Capital Expenditures: We expect FY2027 capital expenditures of between $950 million and $1.0 billion, including approximately $250 to $300 million for Inmarsat related capital expenditures.
Viasat reaffirmed its FY2027 outlook, expecting mid-single-digit revenue growth and Adjusted EBITDA flat to up slightly year-over-year, with stronger second-half performance. Communications Services segment revenue is expected to grow in the low single-digits, while Defense and Advanced Technologies segment revenue is projected to grow in the mid-teens. The company expects net leverage to decrease slightly and capital expenditures of $950 million to $1.0 billion, including $250-$300 million for Inmarsat-related investments.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 5, 2026 · How we verify