Viasat reported essentially flat revenue of $1.2 billion in the first quarter of its 2027 fiscal year, reporting financial results on Tuesday. The operator previewed entry into service of the second and third ViaSat-3 satellites, which are both expected to enter service soon.
Revenue for Viasat’s Communication Services segment was flat-year-over-year at $825 million as growth in aviation and government satcom was offset by an expected decline in fixed satellite services and maritime.
The Defense and Advanced Technologies (DAT) segment reported $331 million in revenue, up 4% year-over-year as service revenue was offset by a decrease in product revenue. DAT contract awards increased 22% year-over-year to a record $524 million, with Viasat highlighting the U.S. Space Force award to deliver a maneuverable Geostationary Orbit (GE) satellite under the Protected Tactical SATCOM-Global (PTS-G) program.
CEO Mark Dankberg confirmed the strategic review of the DAT segment is ongoing, and DAT remains the fastest-growing portion of Viasat’s business.
Adjusted EBITDA of $381 million declined 7% year-over-year. Net loss for the quarter was $52 million, improvement from $56 million of net loss in the same timeframe last year. Free cash flow improved 19% year-over-year to $72 million.
Viasat confirmed it has completed deployments and the in-orbit test for the second ViaSat-3 satellite, F2, which is expected to enter service by September 2026.
The third satellite, F3, is currently going through in-orbit testing after completing the reflector deployment. It is expected to enter service over the Asia-Pacific (APAC) region in late August or early September 2026.
“We’ve been waiting a long time for the capacity and capabilities of ViaSat-3 Flights 2 and 3. We’re excited to be on the cusp of service entry for both satellites,” CFO Garrett Chase told investors. “Now our focus is ensuring that the capabilities of ViaSat-3 are mobilized to address the growing appetite our Communication Services customers have for connectivity and to position us for growth in the years ahead.”
Dankberg said that of the mobility markets, aviation and government are the fastest-growing and the top areas for revenue growth after the F2 and F3 satellites come online. Both are growing from a combination of more bandwidth use per platform and more platforms, Dankberg said.
Dankberg also noted that while these satellites are important for the Communication Services segment, they also will support growth in the DAT segment.
“We believe validation of the underlying technologies will contribute to near-term growth in DAT, including in new multi-orbit space systems that leverage those technologies,” Dankberg said.
