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Mar 31
Viasat Q4 2025 Earnings Report
Viasat reported a net loss in Q4 FY25, impacted by a $169 million impairment, while Defense and Advanced Technologies showed strong growth.
Key Takeaways
Q4 FY25 results showed stable revenue but increased net loss due to impairment charges. The Defense segment grew strongly, while Communication Services faced headwinds. Free cash flow turned positive, and operating cash flow reached a quarterly high.
Viasat
Viasat
Viasat Revenue by Segment
Forward Guidance
Viasat expects low single-digit revenue growth and flat adjusted EBITDA for FY2026, with a focus on free cash flow generation and debt reduction.
Positive Outlook
- Low double-digit growth expected in aviation services
- Mid-teens revenue growth projected for Defense and Advanced Technologies
- Continued focus on reducing capital intensity
- Positive free cash flow expected in H2 FY2026
- Enhanced competitive positioning with multi-orbit strategy
Challenges Ahead
- Flat total revenue expected in Communication Services
- Continued decline in fixed services and other segments
- Capital expenditures projected to remain high (~$1.3B)
- Net debt to EBITDA expected to increase modestly
- Ongoing legal uncertainty regarding Ligado