Core Insights - Viasat, Inc. (VSAT) reported mixed results for Q2 fiscal 2026, with a bottom line that exceeded Zacks Consensus Estimate but a top line that fell short [1] - Year-over-year revenue growth was driven by government satcom and aviation services in the Communication Services segment, along with growth in information security and cyber defense in the Defense and Advanced Technologies segment [1] Financial Performance - Viasat incurred a net loss of $61.4 million, or a loss of 45 cents per share, an improvement from a net loss of $137.6 million, or a loss of $1.07 per share, in the prior-year quarter [2] - Excluding non-recurring items, the company reported a non-GAAP net income of $12.6 million, or 9 cents per share, compared to a net loss of $29.4 million, or 23 cents in the prior-year period, beating the Zacks Consensus Estimate by 20 cents [3] Revenue Breakdown - Total revenues increased to $1.14 billion from $1.12 billion, although this figure missed the consensus estimate by $8 million [4] - Product revenues decreased to $319.4 million from $323.9 million year-over-year, while net sales from services rose to $821.5 million from $798.6 million [4] - Communication Services segment revenues were $837 million, up from $826 million, with growth in government satcom and aviation services offset by declines in maritime and U.S. fixed broadband [5] - Defense and Advanced Technologies segment revenues were $304 million, reflecting a 3% year-over-year increase, primarily due to growth in information security and cyber defense [6] Operational Metrics - Viasat reported an operating income of $35.8 million compared to a net loss of $24.7 million in the prior-year quarter [7] - Adjusted EBITDA increased to $385 million from $375 million year-over-year [7] Cash Flow and Liquidity - The company generated an operating cash flow of $282 million, up from $239 million in the prior-year period, attributed to improved operating performance and a decline in working capital [8] - As of September 30, 2025, Viasat had $1.2 billion in cash and cash equivalents, with a net debt of $5.5 billion [8] Future Outlook - For fiscal 2026, Viasat anticipates low single-digit revenue growth and flat adjusted EBITDA year-over-year, with the Communication Services segment expected to perform flat due to low double-digit growth in aviation services [9] - The Defense and Advanced Technologies segment is projected to see mid-teen revenue growth, driven by strong double-digit growth in information security and cyber defense [10]

Core Insights - The total revenue from national information security reached 105.24 billion yuan in the first half of 2025, reflecting a cumulative growth of 8.2% [1] - In June 2025, the revenue for national information security was 26.5 billion yuan, showing no year-on-year change but a month-on-month increase of 41.9% [1] Revenue Statistics - The cumulative revenue for national information security from 2020 to the first half of 2025 is illustrated in a statistical chart [1] - A separate statistical chart shows the current value and cumulative growth of national information security revenue over the past year [1]

Core Viewpoint - The performance of Zscaler's international operations is crucial for assessing its financial resilience and growth prospects in the interconnected global economy [1][2][10]. Revenue Performance - Zscaler's total revenue for the quarter reached $719.23 million, reflecting a 21.3% increase year-over-year [4]. - The revenue contributions from international markets are significant for understanding the company's overall performance [3]. International Revenue Breakdown - Other International contributed $25.52 million, accounting for 3.6% of total revenue, with a slight decrease of -0.25% compared to expectations [5]. - Asia Pacific generated $114.26 million, representing 15.9% of total revenue, exceeding projections by +3.38% [6]. - Europe, Middle East, and Africa contributed $210.82 million, making up 29.3% of total revenue, slightly below the consensus estimate by -0.17% [7]. Future Projections - Analysts project Zscaler's total revenue for the current fiscal quarter to be $773.36 million, a 23.2% increase year-over-year, with expected contributions from Other International (3.5%), Asia Pacific (15.2%), and Europe, Middle East, and Africa (28.6%) [8]. - For the entire year, total revenue is forecasted at $3.27 billion, a 22.3% improvement from the previous year, with regional contributions expected to be similar to quarterly projections [9]. Conclusion - The reliance on global markets presents both opportunities and challenges for Zscaler, making the analysis of international revenue trends essential for forecasting future performance [10].

Core Insights - Zscaler's international operations are crucial for understanding its financial resilience and growth potential [1][2] - The company's total revenue for the quarter ending April 2025 was $678.03 million, reflecting a 22.6% increase year-over-year [4] International Revenue Analysis - Europe, Middle East, and Africa contributed $203.02 million, accounting for 29.94% of total revenue, surpassing the consensus estimate by 1.11% [5] - Asia Pacific generated $107.35 million, representing 15.83% of total revenue, exceeding expectations by 4.08% [6] - Other International regions brought in $24.67 million, making up 3.64% of total revenue, also surpassing projections by 2.82% [7] Future Revenue Projections - Analysts project total revenue for the current fiscal quarter to reach $707.18 million, a 19.3% increase from the same quarter last year [8] - Expected contributions from international markets include $211.52 million from Europe, Middle East, and Africa (29.9%), $109.91 million from Asia Pacific (15.5%), and $25.52 million from Other International (3.6%) [8] - For the full year, total revenue is anticipated to be $2.65 billion, marking a 22.2% increase compared to the previous year [9] Stock Performance Insights - Zscaler's stock has appreciated by 19.6% over the past four weeks, outperforming the Zacks S&P 500 composite, which increased by 6.1% [13] - Over the last three months, Zscaler's shares rose by 32.1%, while the S&P 500 experienced a decline of 0.5% [13]