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Dec 31, 2025
Viasat Q3 2026 Earnings Report
Viasat reported higher revenue and returned to profitability while adjusted EBITDA declined modestly year over year.
Key Takeaways
Viasat delivered Q3 FY2026 revenue growth driven by strength in Defense and Advanced Technologies, returned to net income, and generated positive free cash flow, while adjusted EBITDA declined slightly due to lower Communication Services profitability.
Revenue increased 3% year over year to $1.2 billion
Net income improved to $25 million from a prior-year loss
Adjusted EBITDA declined 2% year over year to $387 million
Quarterly contract awards totaled $971 million
Revenue by Segment
Forward Guidance
Management reaffirmed full-year expectations for low single-digit revenue growth, flat adjusted EBITDA, and improving free cash flow.
Positive Outlook
- Low single-digit FY2026 revenue growth outlook
- Expected flat adjusted EBITDA year over year
- Positive free cash flow expected for FY2026
- VS-3 satellite deployments expected to drive growth
- Improving net debt to adjusted EBITDA ratio
Challenges Ahead
- Pressure on Communication Services margins
- High capital expenditure requirements
- Exposure to government budget timing
- Competitive intensity in satellite communications
- Execution risk related to satellite launches
Historical Earnings Impact
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Avg. Return Before/After Earnings
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