Q4 26 EPS
$-0.02
MISS 106.22%
Est. $0.32
Q4 26 Revenue
$1.17B
MISS 2.03%
Est. $1.20B
vs S&P Since Q4 26
-23.2%
TRAILING MARKET
VSAT -26.2% vs S&P -3.0%
Full Year 2026 Results
FY 26 EPS
$1.03
MISS 5.76%
Est. $1.09
FY 26 Revenue
$4.64B
MISS 0.56%
Est. $4.67B
Market Reaction
Did VSAT Beat Earnings? Q4 2026 Results
Viasat delivered a mixed fiscal fourth quarter, missing on both the top and bottom lines as a non-GAAP loss of $0.02 per diluted share fell well short of the $0.32 consensus estimate, a gap of 106.22%, while revenue of $1.17 billion came in 2.03% bel… Read more Viasat delivered a mixed fiscal fourth quarter, missing on both the top and bottom lines as a non-GAAP loss of $0.02 per diluted share fell well short of the $0.32 consensus estimate, a gap of 106.22%, while revenue of $1.17 billion came in 2.03% below expectations despite growing 2.1% year-over-year. The headline EPS shortfall masked a more nuanced picture: on a GAAP basis, the company swung to net income of $58.82 million from a loss of $246.05 million a year ago, lifted by a $168.06 million gain on the sale of its Navarino equity stake and the absence of a prior-year $169.40 million EMEA ground network impairment charge. The standout segment was Defense and Advanced Technologies, where revenue climbed 12% to $361.00 million on record encryption device shipments, while Communication Services slipped 2% to $810.28 million. Looking to fiscal 2027, management guided for mid-single-digit revenue growth, mid-teens DAT expansion, and approximately $180 million in free cash flow, with the ViaSat-3 F3 satellite expected to enter service by August or September supporting that trajectory.
Key Takeaways
- • Record encryption device shipments drove information security and cyber defense product revenue growth
- • Aviation service revenue grew 11% YoY with commercial air average revenue per aircraft continuing to grow
- • Government satcom service revenue increased 5% YoY
- • Navarino equity investment sale generated $203 million in proceeds and a $168 million gain
- • Ligado $420 million lump sum payment received in Q3 boosted full-year cash flow
- • Continued deleveraging reduced net debt from $5.6 billion to $4.8 billion year-over-year
VSAT Forward Guidance & Outlook
For FY2027, Viasat expects mid-single-digit year-over-year revenue growth and Adjusted EBITDA to be flat to up slightly YoY, with stronger growth in the second half. Communication Services segment revenue is expected to grow in the low single digits YoY, driven by continued aviation services growth offset by a lower rate of decline in fixed services and other. Defense and Advanced Technologies segment revenue is expected to grow in the mid-teens YoY, driven primarily by strong growth in information security and cyber defense, space and mission systems, and tactical networking. Net debt relative to LTM Adjusted EBITDA is expected to decrease slightly by FY2027 year-end. Capital expenditures are expected between $950 million and $1.0 billion, including approximately $325 million for Inmarsat-related capex. Operating cash flow is expected to be flat YoY and free cash flow is expected to be approximately $180 million (excluding Ligado lump sum payments in both periods). VS-3 F3 service entry is anticipated in August or September 2026.
VSAT YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
VSAT Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our fiscal year 2026 financial results are largely consistent with our expectations and plans entering the year despite headwinds from the U.S. Government shutdown during the back half of the fiscal year. We are pleased with our operational and financial performance, as well as the accomplishments of our teams as we compete and win in attractive growth markets.”
— Mark Dankberg, Q4 2026 Earnings Press Release
VSAT Earnings Trends
VSAT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
VSAT EPS Trend
Earnings per share: estimate vs actual
VSAT Revenue Trend
Quarterly revenue: estimate vs actual
VSAT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 MISS FY | $0.32 | $-0.02 | -106.22% | $1.17B | -2.03% |
| FY Full Year | $1.09 | $1.03 | -5.76% | $4.64B | -0.56% |
| Q3 26 BEAT | $0.24 | $0.79 | +228.48% | $1.16B | -0.93% |
| Q2 26 MISS | $-0.06 | $-0.45 | -650.00% | $1.14B | -0.75% |
| Q1 26 BEAT | $-0.01 | $0.17 | +1,800.00% | $1.17B | +4.34% |
| Q3 25 BEAT | $0.05 | $0.11 | +120.00% | $1.12B | -0.47% |