VSAT

MKT CAP:$8B

Viasat, Inc.

Market Cap

$8B

Technology·Communication Equipment·🇺🇸 United States·NASDAQ

Technology·Communication·🇺🇸·NASDAQ

Stock Price

$62.10+$24.47 (+65.04%)

Apr 24, 2026

Company Details

Viasat, Inc. provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protoc...

CEO

Mark D. Dankberg

IPO Date

Dec 3, 1996

Website

www.viasat.com

Key Metrics TTM

Revenue

$3.8B

— YoY

Net Income

$378M

EPS (Diluted)

-$7.57

Free Cash Flow

$457M

Revenue / Share

$29.10

Gross Margin

30.9%

Operating Margin

-23.3%

Net Margin

9.9%

FCF Margin

11.9%

P/S

2.2x

P/E

22.3x

Earnings Reports

Q3 2025

Feb 6, 2026

$1.2BEPS $0.18

Q2 2023

Nov 9, 2023

$1.2BEPS -$6.16

Q1 2023

Aug 9, 2023

$780MEPS -$0.83

Q4 2022

May 22, 2023

$666MEPS -$0.76

Q2 2020

Nov 6, 2020

$554MEPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 18	$517M	$125M	-$22M
Q2 20	$554M	$167M	$13M
Q4 22	$666M	$174M	-$73M
Q1 23	$780M	$235M	-$42M
Q2 23	$1.2B	$459M	-$805M
Q3 25	$1.2B	$314M	$26M

Valuation

Quarter	P/S	P/E
Q2 18	—	—
Q2 20	—	—
Q4 22	—	—
Q1 23	3.3x	7.7x
Q2 23	2.6x	23.7x
Q3 25	2.2x	22.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 18	$57M	-$139M
Q2 20	$177M	-$41M
Q4 22	$50M	-$263M
Q1 23	$104M	-$271M
Q2 23	$219M	-$147M
Q3 25	$727M	$1.1B

Capital Expenditures

Quarter	CapEx
Q2 18	$196M
Q2 20	$218M
Q4 22	$314M
Q1 23	$375M
Q2 23	$366M
Q3 25	$412M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	+136.8%	+276.6%
Q3 25	+108.7%	+108.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 18	$19M	3.7%
Q2 20	$0	0.0%
Q4 22	$20M	2.9%
Q1 23	$22M	2.8%
Q2 23	$0	0.0%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 18	$31M	—	—	$113M
Q2 20	$28M	—	—	$125M
Q4 22	$32M	$184M	$23M	—
Q1 23	$29M	—	—	$220M
Q2 23	$33M	—	—	$1.1B
Q3 25	$47M	—	—	$241M

Revenue Segments

Quarter	Commercial Networks	Government Systems	Satellite Services	Product	Service
Q2 18	$115M	$240M	$163M	—	—
Q2 20	—	—	—	$256M	$298M
Q1 23	—	—	—	$236M	$543M
Q2 23	—	—	—	$402M	$824M
Q3 25	—	—	—	$334M	$823M

Revenue by Geography

Quarter	Non Us	United States	Non-US
Q2 18	$47M	$470M	—
Q2 20	$41M	$513M	—
Q1 23	$187M	$593M	—
Q2 23	$348M	$877M	—
Q3 25	—	$778M	$379M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$310M	$0	$310M
Q1 22	$222M	$0	$222M
Q2 22	$149M	$0	$149M
Q3 22	$182M	$0	$182M
Q4 22	$1.3B	$0	$1.3B
Q1 23	$2.0B	$134M	$2.1B
Q2 23	$2.0B	$0	$2.0B
Q3 23	$1.6B	$30M	$1.7B
Q4 23	$1.9B	$0	$1.9B
Q1 24	$1.8B	$0	$1.8B
Q2 24	$3.5B	$0	$3.5B
Q3 24	$1.6B	$0	$1.6B
Q4 24	$1.6B	$0	$1.6B
Q1 25	$1.2B	$0	$1.2B
Q2 25	$1.2B	$0	$1.2B
Q3 25	$1.3B	$0	$1.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 18	60M	—	—
Q2 20	68M	+13.1%	—
Q4 22	77M	+13.9%	—
Q1 23	93M	+21.1%	—
Q2 23	125M	+33.7%	+108.5%
Q3 25	132M	+5.7%	+94.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 18	$99.5K	5K
Q2 20	$90.9K	6K
Q4 22	$98.0K	7K
Q1 23	$114.7K	7K
Q2 23	$180.2K	7K
Q3 25	$154.3K	8K

Revenue / Employee