Viasat (VSAT) Q2 FY2027 earnings: revenue $1.2 billion, up 3.4% on the year

Viasat Inc. (VSAT) reported revenue of $1.2 billion for Q2 FY2027, the quarter ended 30 September 2026, up 3.4% on the same quarter a year earlier. Net income was -$129 million, and diluted earnings per share $-0.93. The figures are the company's own, from the 10-Q it filed with the SEC on 6 November 2026.

Revenue

$1.2 billion

+3.4% on the year · +2.0% on the quarter

Q3 FY2025Q2 FY2027

Operating margin

0.6%

3.1% a year earlier

Q3 FY2025Q2 FY2027

Net income

-$129 million

Q3 FY2025Q2 FY2027

Diluted EPS

-$0.93

Q3 FY2025Q2 FY2027

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 1 new, 2 kept.

Revenue rose 3% year over year: Revenue was $1.2 billion, up 3% year over year, as DAT growth outweighed a decline in Communication Services.
Adjusted EBITDA down 4%: Adjusted EBITDA was $370 million, down 4% year over year. Tactical networking, aviation and government satcom growth was more than offset by an expected FS&O decline and higher R&D.
Communication Services revenue down 3%: Communication Services revenue was $815 million, down 3%. Service revenue fell 2% and product revenue fell 16%, with FS&O and maritime service revenue lower.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Revenue	1,180	1,157	1,141	+2.0%	+3.4%
Cost of revenue	801	744	756	+7.7%	+6.0%
Gross profit	379	413	385	-8.2%	-1.5%
Gross margin	32.1%	35.7%	33.7%
Research and development	59.8	45.5	42.3	+31.4%	+41.4%
Selling, general and administrative	247	255	242	-3.1%	+2.2%
Operating income	7.1	47.3	35.8	-84.9%	-80.0%
Operating margin	0.6%	4.1%	3.1%
Interest expense	102	82.3	93.5	+23.9%	+9.1%
Pre-tax income	-79.4	-19.9	-45.2
Income tax	40.8	23.1	10.9	+76.5%	+275.5%
Net income	-129	-51.7	-61.4
Net margin	-10.9%	-4.5%	-5.4%
Diluted EPS	-$0.93	-$0.38	-$0.45

$ million except per share.

Free 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	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Operating cash flow	285	261	282	+9.4%	+1.0%
Cash from investing	-207	-219	-214
Cash from financing	-54.0	-50.2	-19.9
Depreciation and amortisation	334	314	326	+6.4%	+2.4%
Share-based compensation	34.2	24.2	20.1	+41.2%	+69.8%
Diluted shares, weighted	139m	137m	135m	+1.1%	+2.6%
Shares outstanding at period end	139m	138m	135m	+1.0%	+2.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2027	Q1 FY2027	Q2 FY2026	On the quarter	On the year
Shareholders' equity	4,505	4,640	4,524	-2.9%	-0.4%
Non-controlling interest	86.5	77.8	49.3	+11.2%	+75.6%
Debt	5,781	5,780	6,535	+0.0%	-11.5%
Operating lease liabilities	427	421	427	+1.5%	+0.1%
Other liabilities	4,229	4,193	3,222	+0.9%	+31.3%
Total liabilities and equity	15,029	15,112	14,756	-0.5%	+1.9%
Fixed assets	7,178	7,249	7,285	-1.0%	-1.5%
Goodwill	1,624	1,625	1,626	-0.0%	-0.1%
Intangible assets	1,867	1,932	2,127	-3.4%	-12.2%
Cash and equivalents	1,759	1,736	1,230	+1.3%	+43.0%
Receivables	735	744	683	-1.2%	+7.7%
Inventory	309	294	279	+5.1%	+10.8%
Other assets	1,556	1,532	1,526	+1.6%	+2.0%
Total assets	15,029	15,112	14,756	-0.5%	+1.9%

Questions

What was Viasat's revenue in Q2 FY2027?

Viasat (VSAT) reported revenue of $1.2 billion for Q2 FY2027, the quarter ended 30 September 2026, up 3.4% on the same quarter a year earlier.

How much did Viasat earn in Q2 FY2027?

Net loss for Q2 FY2027 was $129 million, and the diluted loss per share $0.93.

When did Viasat report Q2 FY2027 results?

Viasat filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 6 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2022 †	Q4 FY2022 *	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *	Q1 FY2027	Q2 FY2027
Revenue	625	702	575	664	651	666	780	1,225	1,129	1,150	1,126	1,122	1,124	1,147	1,171	1,141	1,157	1,171	1,157	1,180
Cost of revenue	444	498	418	442	483	492	545	766	767	824	711	775	762	782	762	756	778	811	744	801
Gross profit	181	204	157	222	168	174	235	459	361	326	416	347	362	365	409	385	379	360	413	379
Gross margin	29%	29%	27%	33%	26%	26%	30%	37%	32%	28%	37%	31%	32%	32%	35%	34%	33%	31%	36%	32%
R&D	36.4	40.9	34.8	32.4	29.4	32.3	29.0	33.4	41.7	46.5	38.6	33.4	36.7	33.7	34.2	42.3	46.9	41.5	45.5	59.8
SG&A	166	176	172	177	163	207	220	1,149	272	253	251	272	238	419	263	242	241	254	255	247
Operating income	-28.7	-20.8	-56.6	4.7	-31.3	-72.7	-41.5	-805	-43.9	0.3	59.7	-24.7	21.2	-154	46.7	35.8	26.3	-0.6	47.3	7.1
Operating margin	-5%	-3%	-10%	1%	-5%	-11%	-5%	-66%	-4%	0%	5%	-2%	2%	-13%	4%	3%	2%	-0%	4%	1%
Interest expense	5.4	11.6	5.9	4.6	8.7	7.6	55.9	86.2	134	125	106	115	94.5	106	100	93.5	87.5	78.9	82.3	102
Pre-tax income	-33.8	-32.4	-31.8	3.4	-39.5	-94.2	-78.3	-858	-157	-101	-23.2	-119	-162	-241	-44.8	-45.2	92.9	102	-19.9	-79.4
Tax rate	n/a	n/a	n/a	2253%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	63%	39%	n/a	n/a
Net income	-6.6	-29.2	-21.6	-48.2	-42.2	1,197	-77.0	-767	-124	-100	-32.9	-138	-158	-246	-56.4	-61.4	25.0	58.8	-51.7	-129
Net margin	-1%	-4%	-4%	-7%	-6%	180%	-10%	-63%	-11%	-9%	-3%	-12%	-14%	-21%	-5%	-5%	2%	5%	-4%	-11%
Diluted EPS	-$0.09	-$0.39	-$0.29	-$0.64	-$0.55	$15.56	-$0.83	-$6.16	-$0.99	-$0.80	-$0.26	-$1.07	-$1.23	-$1.89	-$0.43	-$0.45	$0.18	$0.41	-$0.38	-$0.93
Operating cash flow	159	119	39.6	188	89.5	50.2	104	219	134	232	151	239	219	298	258	282	727	322	261	285
Capital expenditure	223	267	247	261	275	294	375	366	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Free cash flow	-64.3	-148	-207	-72.7	-185	-244	-271	-147	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Shares outstanding	74m	74m	76m	76m	76m	77m	124m	125m	125m	126m	128m	128m	129m	130m	134m	135m	136m	137m	138m	139m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 6 November 2026: the filing.