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Company Overview: Viasat is a global communications company headquartered in Carlsbad, California, specializing in high-capacity satellite broadband services and secure networking systems. It operates a fleet of geostationary satellites, including the ViaSat-1, ViaSat-2, and the ViaSat-3 constellation, which is designed to deliver unprecedented global coverage with high throughput. Viasat provides internet services directly to residential and business customers in the United States and abroad, as well as connectivity solutions for aviation, maritime, government, and defense markets. The company is well known for powering in-flight Wi-Fi for many of the world’s leading airlines, as well as for providing secure satellite communications to military and government agencies. Following its acquisition of Inmarsat Government in 2023, Viasat expanded its fleet and global spectrum assets, positioning itself as one of the largest integrated satellite operators worldwide. With its focus on combining high-capacity satellites, spectrum resources, and global infrastructure, Viasat plays a key role in connecting hard-to-reach regions and supporting secure, mission-critical communications.

Services

  • Airborne Technology Enhancements: A suite of advanced airborne communication and mission-support technologies that enhance connectivity, situational awareness, and mission effectiveness for military and government aircraft.
  • Viasat MDPR: managed cybersecurity service that improves threat detection and response through a collaborative, partner-driven approach, integrating closely with an organization’s existing security program beyond traditional MDR and MSSP models.
  • NetAgility: A platform that combines virtual and rugged network routers with intelligent traffic bonding, automated failover, and centralized orchestration to deliver resilient, high-performance connectivity across mobile, airborne, and edge environments.
  • SATCOM services: Satellite communication solutions that deliver secure, two-way broadband connectivity via Viasat’s global network, supporting mission-critical communications and real-time data exchange across remote and operational environments.
  • Elite Communications Kit: A mobile, secure expeditionary communications platform that delivers resilient command, control, and situational awareness in tactical environments, supporting LOS, BLOS, and wireless networking through an open architecture.
  • Mercury Free space optics (FSO) Terminal: Uses free-space optical (laser) communications to deliver ultra-high-speed, point-to-point data links over long distances without licensed spectrum, featuring automated alignment, low probability of intercept/detection, and strong resistance to jamming in contested environments.
  • Tactical edge connectivity: The ability to deliver secure, resilient voice, video, and data connectivity to frontline forces using hybrid networks where traditional infrastructure is unavailable or degraded.
  • G2X Satellite Communications Service: A managed global SATCOM service that delivers secure, on-demand broadband connectivity over Viasat’s GX Ka-band network for government and defense missions worldwide.
  • Mil-Ka: Provides secure, high-capacity Ka-band satellite connectivity for military missions, interoperable with MILSATCOM, across land, air, and sea.
  • FleetBoardband: A maritime SATCOM service that delivers global, always-on voice and broadband data connectivity for vessels at sea, enabling reliable communications and internet access anywhere on the oceans.
  • SwiftBroadband: A global aviation satellite service that provides always-on, IP-based voice and data connectivity over the Inmarsat ELERA L-band network, supporting reliable communications and operational data worldwide.
  • L-MAX: A high-throughput L-band SATCOM leasing service that delivers higher data rates for government and military airborne users, bridging the gap between traditional L-band and broadband services with minimal terminal changes.
  • managed services: Provides 24/7 monitoring, support, and operational management of communications, networking, and cybersecurity systems to ensure secure, reliable performance without customer-managed operations.
  • Air-IQ: An advanced ISR connectivity solution for crewed and uncrewed aircraft that delivers flexible, high-throughput satellite communications, dynamically adjusting bandwidth to securely transmit real-time sensor data and intelligence.
  • Viasat Real-Time Earth (RTE) : A managed global satellite ground service that delivers low-latency payload and telemetry data to users through automated scheduling for faster, data-driven decisions.

Leadership

Services

  • Airborne Technology Enhancements: A suite of advanced airborne communication and mission-support technologies that enhance connectivity, situational awareness, and mission effectiveness for military and government aircraft.
  • Viasat MDPR: managed cybersecurity service that improves threat detection and response through a collaborative, partner-driven approach, integrating closely with an organization’s existing security program beyond traditional MDR and MSSP models.
  • NetAgility: A platform that combines virtual and rugged network routers with intelligent traffic bonding, automated failover, and centralized orchestration to deliver resilient, high-performance connectivity across mobile, airborne, and edge environments.
  • SATCOM services: Satellite communication solutions that deliver secure, two-way broadband connectivity via Viasat’s global network, supporting mission-critical communications and real-time data exchange across remote and operational environments.
  • Elite Communications Kit: A mobile, secure expeditionary communications platform that delivers resilient command, control, and situational awareness in tactical environments, supporting LOS, BLOS, and wireless networking through an open architecture.
  • Mercury Free space optics (FSO) Terminal: Uses free-space optical (laser) communications to deliver ultra-high-speed, point-to-point data links over long distances without licensed spectrum, featuring automated alignment, low probability of intercept/detection, and strong resistance to jamming in contested environments.
  • Tactical edge connectivity: The ability to deliver secure, resilient voice, video, and data connectivity to frontline forces using hybrid networks where traditional infrastructure is unavailable or degraded.
  • G2X Satellite Communications Service: A managed global SATCOM service that delivers secure, on-demand broadband connectivity over Viasat’s GX Ka-band network for government and defense missions worldwide.
  • Mil-Ka: Provides secure, high-capacity Ka-band satellite connectivity for military missions, interoperable with MILSATCOM, across land, air, and sea.
  • FleetBoardband: A maritime SATCOM service that delivers global, always-on voice and broadband data connectivity for vessels at sea, enabling reliable communications and internet access anywhere on the oceans.
  • SwiftBroadband: A global aviation satellite service that provides always-on, IP-based voice and data connectivity over the Inmarsat ELERA L-band network, supporting reliable communications and operational data worldwide.
  • L-MAX: A high-throughput L-band SATCOM leasing service that delivers higher data rates for government and military airborne users, bridging the gap between traditional L-band and broadband services with minimal terminal changes.
  • managed services: Provides 24/7 monitoring, support, and operational management of communications, networking, and cybersecurity systems to ensure secure, reliable performance without customer-managed operations.
  • Air-IQ: An advanced ISR connectivity solution for crewed and uncrewed aircraft that delivers flexible, high-throughput satellite communications, dynamically adjusting bandwidth to securely transmit real-time sensor data and intelligence.
  • Viasat Real-Time Earth (RTE) : A managed global satellite ground service that delivers low-latency payload and telemetry data to users through automated scheduling for faster, data-driven decisions.

Contract Articles

Space42 plans $600M in capex for its Equatys D2D joint venture with Viasat, outlines expanding geospatial imaging business
Space42 plans $600M in capex for its Equatys D2D joint venture with Viasat, outlines expanding geospatial imaging business
  • Space42 plans $600M capex for Equatys D2D joint venture with Viasat in 2026 and 2027 for LEO constellation.
  • Al Yah 4 and Al Yah 5 GEO satellites are under construction by Airbus, financed by a $696M loan from Bpifrance.
  • Space42 has a 17-year, $5.1B contract with the UAE government for Al Yah 4 and 5 services.

News

SpainSat NG 2, insured for $400M, likely a total loss; owner Indra Group/Hisdesat prepares industry bid process for a replacement
SpainSat NG 2, insured for $400M, likely a total loss; owner Indra Group/Hisdesat prepares industry bid process for a replacement
  • SpainSat NG 2, a 6,000-kg Airbus-built satellite, is in a transfer orbit of 69,650 km by 3,840 km.
  • SpainSat NG program operates under a 19-year contract valued at 1.617 billion euros, with annual payments of 93.17 million euros.
  • Hisdesat secured agreements for X-, Ka-, and UHF-band capacity with Belgian and Spanish defense ministries.
4 Takeaways: Quilty Space Provides a 2025 Year in Review
  • Golden Dome program proposed $25 billion initial funding, with a $151 billion budget over 10 years for space-enabled defense.
  • Starlink's V3 satellites expected to increase throughput from 100 Gbps to 1,000 Gbps, enhancing competitive capacity.
  • SpaceX's $17 billion spectrum deal with EchoStar highlights the value of direct-to-device service in the evolving market.
SpainSat NG 2, launched in Oct, suffers anomaly ascribed to 'space particle' on way to GEO orbit; insured for $400 million
  • SpainSat NG 2 is a 6,000-kg satellite using the Eurostar Neo platform, launched in October 2023.
  • SpainSat NG satellites operate in X-, Ka-, and UHF-bands with steerable Ka-band antennas for dynamic capacity management.
  • The SpainSat NG program is a 19-year contract valued at 1.617 billion euros, involving the Spanish Ministry of Defence.
Space42 plans $600M in capex for its Equatys D2D joint venture with Viasat, outlines expanding geospatial imaging business
  • Space42 plans $600M capex for Equatys D2D joint venture with Viasat in 2026 and 2027 for LEO constellation.
  • Al Yah 4 and Al Yah 5 GEO satellites are under construction by Airbus, financed by a $696M loan from Bpifrance.
  • Space42 has a 17-year, $5.1B contract with the UAE government for Al Yah 4 and 5 services.
Viasat sees MSS operator support for shared constellation; says free aero Wi-Fi everywhere means commoditization
  • Viasat and Space42 plan to pool 100 MHz of MSS spectrum for a low-orbit constellation targeting regional MSS operators.
  • Viasat's in-flight connectivity revenue reached $301 million, with 4,370 commercial aircraft connected as of Sept. 30.
  • Viasat-3 satellites will provide terabit-per-second capacity, with the second satellite expected to launch over the Americas in early 2026.
AST SpaceMobile: We have $1B+ in revenue commitments from telco customers; 3.2B in liquidity means we're fully financed
  • AST SpaceMobile plans to deploy 90 satellites for global coverage, with 60 needed for continuous service in key markets.
  • FCC authorized launch of 20 Block 2 satellites using V-, S-, and UHF-band for initial operations, pending commercial approval.
  • AST has secured $1B in revenue commitments, including a 10-year agreement with Saudi Arabia’s stc group for $175M.
ITU WRC-27, its agenda heavily laden with space issues, risks setting aside key spectrum and space-conduct policies
  • WRC-27 scheduled for Oct. 18 - Nov. 11, 2023, in Shanghai, focusing 80% on space-related spectrum issues.
  • Viasat plans a LEO constellation for global direct-to-device service in collaboration with Space42 of the UAE.
  • Agenda Item 1.5 aims to regulate unauthorized use of satellite terminals in unlicensed areas, addressing past issues with Starlink in India.
Regulators may be the last to get the message on 3GPP and the promise of terrestrial/non-terrestrial synergies
  • 3GPP's Release 18 and 19 standards aim to enhance satellite connectivity for mobile devices and IoT applications.
  • Equatys will utilize over 100 MHz of L- and S-band mobile satellite spectrum for multi-tenant use.
  • WRC-27 is scheduled for October 2025 in Shanghai, focusing on global spectrum allocations for satellite services.
Space42 & Viasat detail their D2D joint venture's advantages for regional spectrum holders, governments & investors
  • Viasat and Space42 combine over 100 MHz of globally harmonized MSS spectrum for their joint venture, Equatys.
  • Equatys plans to begin commercial service within three years, utilizing LEO satellites alongside existing GEO satellites.
  • Space42 operates the Thuraya L-band mobile satellite network in geostationary orbit, while Viasat holds former Inmarsat L-band assets.
And just like that: FCC Chairman drops investigation into EchoStar licenses after spectrum sales to AT&T, SpaceX
  • EchoStar sold AWS-4 and H-block spectrum, including MSS licenses, to SpaceX for $17 billion, pending FCC approval.
  • EchoStar's S-band satellite license in Europe expires in 2027; future plans remain uncertain amid regulatory challenges.
  • Viasat operates the European Aviation Network with S-band payloads on geostationary satellites for in-flight connectivity services.
AT&T CEO on its $23B spectrum purchase from EchoStar, and prospects for satellite direct-to-device services
  • AT&T acquired 40 MHz of mid-band spectrum from EchoStar for $23 billion to enhance its wireless network capabilities.
  • SpaceX agreed to pay EchoStar $17 billion for AWS-4 and H-block spectrum, including S-band licenses for D2D services.
  • AST SpaceMobile is developing a LEO satellite D2D constellation and plans to purchase L-band spectrum rights from Viasat.
Not just training targets: Kratos says Golden Dome will also be good for its space division
  • Kratos's OpenSpace provides software-defined ground systems for command, control, tracking, telemetry of satellites.
  • Viasat's Airbus-built GX 7, 8, and 9 satellites are scheduled for service in 2027.
  • Kratos has existing contracts for ground control related to the Golden Dome missile-defense system.

Future Launches/Service Articles

No Launch Articles are currently available.

Scheduled Launches

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Previous Launches

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Financial Sumary

Financial Summary

ViaSat, Inc. (VSAT) 2025-03-31
T
Total Sales Revenue
4,519,571,000 (🟢+235,813,000)
Gross Profit Margin
32.97% (🟢+0.71 pp)
Operating Margin
-2.16% (🟢+18.61 pp)
Net Profit Margin
-12.72% (🟢+12.23 pp)
Earnings Per Share (EPS)
-4.42 (🟢+4.08)
Price-to-Earnings Ratio (P/E)
-9.80 (🟢-4.71)
Debt-to-Equity Ratio
1.65 (🔴+0.13)
Current Ratio
1.72 (🔴-0.96)
Free Cash Flow (FCE)
-121,995,000 (🟢+729,194,000)
Return on Equity (ROE)
-12.63% (🟢+8.64 pp)

Previous Financial Summary

ViaSat, Inc. (VSAT) 2025-03-31
T
Total Sales Revenue
4,519,571,000
Gross Profit Margin
32.97%
Operating Margin
-2.16%
Net Profit Margin
-12.72%
Earnings Per Share (EPS)
-4.42
Price-to-Earnings Ratio (P/E)
-9.84
Debt-to-Equity Ratio
1.65
Current Ratio
1.72
Free Cash Flow (FCE)
-121,995,000
Return on Equity (ROE)
-12.63%
ViaSat, Inc. (VSAT) 2025-03-31
4,519,571,000
32.97%
-2.16%
-12.72%
-4.42
-9.84
1.65
1.72
-121,995,000
-12.63%
ViaSat, Inc. (VSAT) 2024-03-31
4,283,758,000
32.25%
-20.77%
-24.95%
-8.49
-5.12
1.52
2.68
-851,189,000
-21.27%
ViaSat, Inc. (VSAT) 2023-03-31
2,556,158,000
28.22%
-6.10%
42.44%
14.10
3.08
0.73
2.35
-796,456,000
28.37%
ViaSat, Inc. (VSAT) 2022-03-31
2,417,179,000
29.20%
-4.68%
-0.64%
-0.21
-208.28
1.08
1.50
-484,669,000
-0.59%