Financial Performance - Viasat reported Q2 FY2026 revenue of $1.141 billion, a 2% increase compared to $1.122 billion in Q2 FY2025[20, 23] - Adjusted EBITDA for Q2 FY2026 was $385 million, a 3% increase compared to $375 million in Q2 FY2025[21, 23] - The company generated $69 million in free cash flow during the quarter, a $58 million improvement year-over-year[22] - For the twelve months ended September 30, 2025, Viasat generated $147 million in free cash flow[22] - Operating cash flow increased by 18% YoY, from $239 million to $282 million[23] Segment Performance - Communication Services (CS) revenue grew 1% YoY, reaching $837 million in Q2 FY26[23, 27] - Defense and Advanced Technologies (DAT) segment revenues grew 3% YoY, reaching $304 million in Q2 FY26[23, 39] - CS segment Adjusted EBITDA increased 6% YoY to $337 million[23, 29] - DAT segment Adjusted EBITDA declined 15% YoY to $48 million[23, 41] Awards and Backlog - Total awards increased 17% YoY to $1.498 billion[19, 23] - CS segment awards increased 35% YoY to $1.031 billion[23, 26] - DAT awards declined 9% YoY to $467 million[23, 37] - DAT segment backlog grew 31% to a record $1.2 billion[23, 36, 45]

Financial Performance - Q2 FY2026 revenue was $1.1 billion, a 2% increase year-over-year, driven by a 3% growth in the Defense and Advanced Technologies segment and a 1% increase in the Communication Services segment [4]. - The net loss for Q2 FY2026 was $61 million, an improvement from a net loss of $138 million in Q2 FY2025, attributed to a favorable service mix and reduced expenses [4]. - Adjusted EBITDA for Q2 FY2026 was $385 million, reflecting a 3% year-over-year increase, with a 6% increase in the Communication Services segment offset by a 15% decline in the Defense and Advanced Technologies segment [13]. - Revenues for Q2 FY26 were $1,140.9 million, a 2% increase from $1,122.3 million in Q2 FY25 [59]. - Net loss for Q2 FY26 improved to $61.4 million from a loss of $137.6 million in Q2 FY25, representing a 55% reduction [59]. - Non-GAAP net income for Q2 FY26 was $12.6 million, a significant recovery from a loss of $29.4 million in Q2 FY25 [67]. - Adjusted EBITDA for Q2 FY26 increased by 3% to $384.7 million compared to $375.0 million in Q2 FY25 [59]. - Free cash flow for the quarter was $69 million, an improvement of $58 million compared to the prior year quarter [39]. - Viasat generated $282 million in operating cash flow during Q2 FY2026, an increase of $43 million YoY and $24 million sequentially [37]. Segment Performance - The backlog for the Defense and Advanced Technologies segment reached a record $1.2 billion, up 31% year-over-year and 14% sequentially, with a book-to-bill ratio of 1.5x [32]. - Awards for Q2 FY2026 totaled a record $1.5 billion, a 17% increase year-over-year, with Communication Services awards increasing 35% to over $1 billion [13]. - The Communication Services segment revenue increased 1% year-over-year to $837 million, with aviation and government satcom service revenues growing 15% and 9% respectively [22]. - The Defense and Advanced Technologies segment revenue was $304 million, a 3% increase year-over-year, driven by a 14% increase in information security and cyber defense [33]. - Adjusted EBITDA for the Defense and Advanced Technologies segment declined 15% year-over-year to $48 million, impacted by higher R&D investments and declines in tactical networking [34]. - Communication Services segment revenues grew by 1% to $836.7 million in Q2 FY26, while new contract awards surged by 35% to $1,031.0 million [60]. - Defense and Advanced Technologies segment revenues increased by 3% to $304.2 million, but new contract awards decreased by 9% to $466.8 million [60]. Future Outlook - The company expects low single-digit YoY revenue growth and flattish YoY Adjusted EBITDA for FY2026 [46]. - The Communication Services segment is projected to have flat revenue performance for FY2026, while the Defense and Advanced Technologies segment anticipates mid-teens YoY revenue growth [46]. - Viasat's net debt relative to LTM Adjusted EBITDA is expected to decrease modestly by the end of FY2026 [46]. - Capital expenditures for FY2026 are expected to be approximately $1.2 billion, including about $400 million for Inmarsat-related expenditures [46]. - The company anticipates another year of double-digit operating cash flow growth, with positive free cash flow expected for FY2027 [46]. Cash and Liquidity - Viasat ended Q2 FY2026 with $2.4 billion in available liquidity, consisting of $1.2 billion in cash and cash equivalents and $1.15 billion in undrawn credit facilities [40]. - Capital expenditures for Q2 FY2026 were $214 million, a 7% decrease YoY due to lower satellite expenditures [38]. - The company received $436 million from Ligado and AST, which will be partially used to repay early the $200 million principal amount of the original 2026 Inmarsat term loan facility [24]. Awards and Contracts - Viasat received awards totaling over $155 million in Q2 FY2026 for information security and cyber defense products, reflecting strong demand from cloud service providers [35].

CARLSBAD, Calif., Nov. 07, 2025 (GLOBE NEWSWIRE) -- Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today published its second quarter fiscal year 2026 financial results in a letter to shareholders, which, along with webcast slides, is now posted to the Investor Relations section of Viasat’s website. As previously announced, Viasat will host a conference call today, Friday, November 7, 2025 at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time. To participate on the live conference ca ...

Group 1 - The article does not provide any specific content related to a company or industry [1]

Core Insights - Viasat, Inc. (VSAT) is set to report its second-quarter fiscal 2026 results on November 6, with a history of earnings surprises averaging 36.78% over the past four quarters [1][10] - Despite challenges in the Communication Services segment, revenue growth is anticipated, driven by the Defense and Advanced Technologies segment [10] Group 1: Recent Developments - Viasat was selected by the U.S. Government to develop a next-generation high-speed Ethernet Data Encryptor for securing classified data in government cloud data centers [2] - The company successfully connected its Global Aero Terminal 5510 to a ViaSat-3 satellite during test flights, enhancing in-flight broadband service for business jets [3] - Viasat launched its HaloNet portfolio, which integrates space and terrestrial networks, enabling various applications such as secure low-latency links and Direct-to-Earth service [4] Group 2: Financial Expectations - The Zacks Consensus Estimate for Product revenues is $340.59 million, up from $323.95 million in the same quarter last year [6] - For the Service vertical, the estimate stands at $811.89 million, an increase from $798.31 million year over year [6] - Total revenue for the September quarter is estimated at $1.14 billion, consistent with the previous year's figure, while adjusted earnings per share are expected to show a narrower loss of 11 cents compared to a loss of $1.07 in the prior year [7] Group 3: Earnings Predictions - Current analysis does not predict a definitive earnings beat for Viasat, with an Earnings ESP of 0.00% indicating no difference between the Most Accurate Estimate and the Zacks Consensus Estimate [8][9] - Viasat holds a Zacks Rank of 3, suggesting a neutral outlook [9]

Core Insights - Viasat is set to launch its ViaSat-3 F2 satellite on November 5, 2025, which is expected to more than double the company's current network capacity [1][4] - The satellite will provide broadband services from geostationary orbit at 79° west longitude, targeting increased customer demand across the Americas [2][3] - ViaSat-3 F2 will enhance flexibility in satellite operations and support high-demand applications such as commercial aviation Wi-Fi and government connectivity [3][4] Company Overview - Viasat is a global leader in satellite communications, aiming to connect consumers, businesses, governments, and militaries worldwide [5] - The company completed its acquisition of Inmarsat in May 2023, enhancing its capabilities and resources [5] Market Demand - There is an exponential growth in demand for resilient global satellite communications from various sectors, including commercial mobility and defense [4] - The upcoming launch of ViaSat-3 F2 is crucial for Viasat to meet this increasing demand in target markets [4] Technological Advancements - ViaSat-3 F2 features dynamic beam forming capabilities, allowing efficient bandwidth deployment to high-demand areas [4] - The satellite is designed to support next-generation connectivity platforms, enhancing service delivery and performance [1][3]

Core Points - Viasat, Inc. will release its second quarter fiscal year 2026 financial results on November 7, 2025, after market close [1] - A conference call and webcast will be held on the same day at 2:30 p.m. Pacific Time / 5:30 p.m. Eastern Time [1] - The live conference call can be accessed by dialing specific numbers and referencing a conference ID [2] Company Overview - Viasat is a global communications company focused on connecting people and devices worldwide, with offices in 24 countries [3] - The company aims to develop a global communications network that provides high-quality, reliable, secure, and affordable connections [3] - In May 2023, Viasat completed the acquisition of Inmarsat, enhancing its capabilities and resources [3]

Core Insights - The article provides a market analysis focusing on major companies including S&P 500, Microsoft Corporation, Alphabet Inc Class A, and ViaSat Inc [1] Group 1: S&P 500 - The S&P 500 index has shown fluctuations in response to economic indicators and corporate earnings reports [1] Group 2: Microsoft Corporation - Microsoft Corporation continues to demonstrate strong performance driven by cloud services and software solutions [1] Group 3: Alphabet Inc Class A - Alphabet Inc Class A is experiencing growth in advertising revenue, which is a key driver for its financial performance [1] Group 4: ViaSat Inc - ViaSat Inc is focusing on expanding its satellite communication services to capture more market share [1]

Core Insights - The article emphasizes the importance of quantitative research, financial modeling, and risk management in uncovering high-growth investment opportunities [1] - It highlights the combination of fundamental and technical analysis as a key approach to delivering high-quality, data-driven insights [1] - The focus on macroeconomic trends, corporate earnings, and financial statement analysis aims to provide actionable ideas for investors [1] Group 1 - The analyst has over 20 years of experience in the field, with a strong background in equity valuation and market trends [1] - The approach taken by the analyst and their partner integrates rigorous risk management with a long-term perspective on value creation [1] - The analyst previously held a Vice President position at Barclays, leading teams in model validation and stress testing [1] Group 2 - The article does not contain any stock, option, or derivative positions in the companies mentioned [2] - There is no compensation received for the article other than from Seeking Alpha, indicating independence in the analysis [2] - The views expressed may not reflect those of Seeking Alpha as a whole, highlighting the individual nature of the analysis [3]

Core Insights - The satellite communications industry is experiencing significant transformation driven by mobile satellite services, direct-to-cell connectivity, and IoT expansion, with the global market projected to grow at a CAGR of 10.2% from 2025 to 2030, reaching $159.6 billion [1]. Globalstar (GSAT) - Globalstar is poised to benefit from innovations like the RM200 two-way module and XCOM RAN, which are gaining traction in sectors such as oil & gas and defense, with over 50 partners testing the RM200 module [3]. - The company is expanding its footprint through strategic collaborations, including a partnership with Conekt.ai to integrate its Band 53 spectrum and XCOM RAN technology [4]. - Globalstar is upgrading its infrastructure with a global ground infrastructure program for the next-generation Extended MSS Network, adding approximately 90 antennas across 35 ground stations in 25 countries [5]. - The company is collaborating with SpaceX to deploy nine new satellites, expected to launch between late 2025 and 2026, aiming for 2025 revenues between $260 million and $285 million with adjusted EBITDA margins around 50% [6]. - Despite growth prospects, Globalstar faces macroeconomic uncertainties and competition, along with execution risks related to new product rollouts [7]. Viasat (VSAT) - Viasat has expanded its global coverage through the acquisition of Inmarsat, enhancing its Ka-band fleet to 13 satellites and increasing its oceanic and polar reach [8]. - The upcoming launch of the ViaSat-3 Flight 2 satellite is expected to double bandwidth capacity, with each satellite designed to provide more capacity than the entire existing fleet [10]. - The Defense and Advanced Technologies segment reported revenues of $344 million, up 15% year-over-year, with strong growth in information security and cyber defense [11]. - The Aviation segment is also growing, supported by an increase in commercial aircraft and a large backlog of 1,580 aircraft [12]. - Viasat's challenges include a heavy debt load of $5.6 billion as of June 30, 2025, and anticipated capital expenditures of approximately $1.2 billion for fiscal 2026 [13]. Share Performance - Over the past month, GSAT shares have increased by 20.5%, while VSAT shares have risen by 37.7% [16]. Valuation - GSAT's shares are trading at a forward 12-month price/sales ratio of 17.62X, significantly higher than VSAT's 1.1X [19]. Consensus Estimates - Analysts have maintained earnings estimates for both GSAT and VSAT for the current year, with GSAT's estimates showing no revisions [20][21]. Investment Outlook - Globalstar's innovations and government traction position it for long-term growth, while Viasat must manage its heavy debt and capital-intensive satellite rollout. For investors seeking potential upside in the satellite market, Globalstar appears to be the more favorable option [23].