Viasat (VSAT) FY2026 results: revenue $4.6 billion, up 2.7% on the year
Viasat Inc. (VSAT) reported revenue of $4.6 billion for fiscal 2026, the year ended 31 March 2026, up 2.7% on the year before. Net income was -$34 million, and diluted earnings per share $-0.25. The figures are the company's own, from the 10-K it filed with the SEC on 29 May 2026.
Revenue
$4.6 billion
+2.7% on the year
FY2019FY2026
Operating margin
2.3%
-2.2% a year earlier
FY2019FY2026
Net income
-$34 million
FY2019FY2026
Diluted EPS
-$0.25
FY2019FY2026
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Q4 revenue rose 2%: Q4 FY2026 revenue was $1,171.3 million, up 2% year over year, led by the Defense and Advanced Technologies segment.
Q4 Adjusted EBITDA down 1%: Q4 Adjusted EBITDA was $369.9 million, down 1% year over year, as Communication Services declines were partly offset by Defense growth.
Communication Services revenue fell 2%: Communication Services revenue was $810.3 million, down 2%, on lower FS&O service revenue and segment product revenue, with aviation and government satcom service revenue growing.
Defense segment revenue rose 12%: Defense and Advanced Technologies revenue was $361.0 million, up 12%, led by information security and cyber defense products and space and mission systems; full-year revenue rose 10%.
Record backlog of $4.1 billion: Backlog reached $4.1 billion at year end, up 15% from the prior year.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2026
FY2025
FY2024
On the year
Last 8 years
Operating cash flow
1,590
908
688
+75.1%
Cash from investing
-759
-758
-1,291
Cash from financing
-694
-443
1,124
Depreciation and amortisation
1,354
1,361
1,158
-0.5%
Share-based compensation
81.1
80.4
83.6
+0.9%
Diluted shares, weighted
135m
128m
117m
+4.9%
Shares outstanding at period end
137m
130m
126m
+4.9%
Balance sheet
$ million
FY2026
FY2025
FY2024
On the year
Last 8 years
Shareholders' equity
4,660
4,554
5,025
+2.3%
Non-controlling interest
69.0
90.7
47.1
-24.0%
Debt
6,391
6,532
7,129
-2.2%
Operating lease liabilities
430
414
380
+3.9%
Other liabilities
3,676
3,858
3,748
-4.7%
Total liabilities and equity
15,227
15,449
16,329
-1.4%
Fixed assets
7,273
7,406
7,557
-1.8%
Goodwill
1,625
1,622
1,622
+0.2%
Intangible assets
1,997
2,271
2,544
-12.0%
Cash and equivalents
1,747
1,612
1,901
+8.4%
Receivables
753
700
678
+7.7%
Inventory
281
294
318
-4.3%
Other assets
1,550
1,545
1,709
+0.4%
Total assets
15,227
15,449
16,329
-1.4%
10-K for the year ended 31 March 2026, filed 29 May 2026: the filing.