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Sep 30
Viasat Q2 2026 Earnings Report
Viasat reported a net loss and modest revenue growth in Q2 FY2026.
Key Takeaways
Viasat showed modest year-over-year revenue growth and improved net loss performance in Q2 FY2026. Record contract awards and stronger cash generation marked a positive step toward long-term growth and capital efficiency.
Revenue rose 2% year-over-year to $1.14 billion.
Net loss improved significantly to $61.4 million, down from $137.6 million in Q2 FY2025.
Free cash flow increased to $68.6 million, primarily due to higher operating cash flow and reduced capital expenditures.
Company secured a record $1.5 billion in new contract awards during the quarter.
Viasat
Viasat
Viasat Revenue by Segment
Viasat Revenue by Geographic Location
Revenue by Segment
Communication Services Revenue
CapyFin.comDefense & Adv. Tech Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Viasat expects modest revenue growth and flat Adjusted EBITDA for FY2026, while aiming to reduce capital intensity and return to positive free cash flow by FY2027.
Positive Outlook
- Low single-digit revenue growth expected for FY2026.
- Double-digit growth forecasted in Defense and Advanced Technologies segment.
- Flat revenue performance expected in Communication Services with strength in aviation.
- Capital expenditures projected at $1.2 billion, consistent with guidance.
- Positive free cash flow expected for FY2027 after major satellite investments.
Challenges Ahead
- Net debt remains high at $5.5 billion.
- FS&O and maritime segments expected to face continued declines.
- Backlog in some areas decreased due to divestitures.
- Adjusted EBITDA expected to remain flat YoY despite growth initiatives.
- Guidance excludes impact of $420 million Ligado lump sum payment received post-quarter.