Viasat Reports Strong Q4 & FY26 Results, Positive Free Cash Flow, and Record Backlog
VSAT has more than doubled off its 52-week low of $8.606 on elevated volume (2.1× avg).
Summary
Viasat reported improved Q4 and full-year financial results, including a return to net income in Q4, positive free cash flow, and record backlog, alongside strategic progress in satellite deployments and major contract wins.
Key Events · Earnings and Guidance · VSAT
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Strong Financial Turnaround
Q4 FY2026 net income of $58.8 million, a significant improvement from a $246.1 million loss in the prior year, and full-year net loss narrowed substantially to $34.1 million from $575.0 million.
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Positive Free Cash Flow & Debt Reduction
Generated $177 million in free cash flow for FY2026 (excluding Ligado payment) and reduced net debt to $4.8 billion, improving leverage ratios. This marks five consecutive quarters of positive free cash flow.
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Record Backlog and Awards
Achieved record new contract awards of $4.9 billion (up 5% YoY) and a record backlog of $4.1 billion (up 15% YoY), signaling strong future revenue growth.
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Strategic Satellite Deployments
Successfully completed deployments for ViaSat-3 F2 and launched F3, with F3 expected to enter service in August/September 2026, expanding global coverage to the Asia-Pacific region.
Analysis · VSAT · Technology
Viasat's Q4 and full fiscal year 2026 results show a significant turnaround in profitability, with net income improving substantially and free cash flow remaining positive for five consecutive quarters. The company also achieved record new contract awards and backlog, indicating strong future revenue potential. Strategic progress on satellite deployments and major defense contracts further bolster its market position and growth outlook for FY2027.
At the time of this filing, VSAT was trading at $82.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $11.8B. The 52-week trading range was $8.61 to $89.79. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.