Viasat (VSAT) investor relations material

Executive summary

• Achieved record new awards and backlog in Defense & Advanced Technologies, with notable wins such as the next phase of the Protected Tactical SATCOM-Global (PTS-G) program and strong momentum in tactical networking, aviation, and government satcom.

• Aviation segment saw continued growth, driven by more aircraft in service and higher average revenue per aircraft.

• Maritime's NexusWave orders neared 3,200 vessels since launch, and a major agreement was secured with Hapag-Lloyd.

• Continued operational progress and disciplined execution, with positive free cash flow and strong cost discipline.

• Total revenues for the quarter ended June 30, 2026, were $1.16 billion, down 1% year-over-year, with service revenues up 1% and product revenues down 6%.

Financial highlights

• Company-wide awards reached $1.3 billion, up 10% year-over-year; backlog at $4.2 billion, up 19%.

• Revenue was $1.2 billion, down 1% year-over-year; Adjusted EBITDA was $381 million, down 7% year-over-year.

• Net loss improved to $51.7 million, a $4.7 million improvement due to lower interest expense.

• Positive free cash flow of $72 million, up 19%, driven by $291 million in operating cash flow.

• Cash and cash equivalents at quarter-end were $1.74 billion.

Outlook and guidance

• Fiscal 2027 revenue expected to grow mid-single digits; Communication Services to grow low single digits, DAT mid-teens.

• Adjusted EBITDA for fiscal year expected to be flat to up slightly year-over-year; guidance remains at $950M–$1.0B.

• CapEx guidance for fiscal 2027 is $950 million to $1 billion, with $180 million free cash flow expected.

• Approximately half of the $4.2 billion firm backlog is expected to be delivered in the next 12 months.

• Management expects to meet operating requirements for the next 12 months with current liquidity and borrowing capacity.