ViaSat (VSAT) financial statements
ViaSat reported revenue of $4.6B in fiscal 2026, up 12.9% a year over 9 years.
Net income was -$34M and the operating margin 2.3%, against 2.3% in 2017.
Free cash flow was $597M.
The diluted share count rose 152% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from ViaSat's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $1.6B | $2.1B | $2.3B | $1.9B | $2.4B | $2.6B | $4.3B | $4.5B | $4.6B |
| Cost of revenue | $524M | $554M | — | — | — | — | — | — | — | — |
| Gross profit | $1.0B | $1.0B | — | — | — | — | — | — | — | — |
| Research and development | $130M | $168M | $123M | $130M | $109M | $149M | $129M | $151M | $142M | $165M |
| Selling, general and admin | $333M | $385M | $458M | $523M | $497M | $641M | $719M | $1.9B | $1.2B | $999M |
| Operating income | $36M | -$92M | -$61M | $38M | -$46M | -$113M | -$156M | -$890M | -$97M | $108M |
| Interest expense | $12M | $4M | $50M | $39M | $33M | $29M | $27M | $400M | $422M | $360M |
| Pre-tax income | $25M | -$105M | -$110M | $1M | $26M | -$16M | -$162M | -$1.2B | -$545M | $105M |
| Income tax | $4M | -$35M | -$41M | -$8M | -$11M | -$37M | $49M | -$139M | -$941,000 | $116M |
| Net income | $24M | -$67M | -$68M | -$212,000 | $4M | -$16M | $1.1B | -$1.1B | -$575M | -$34M |
| EPS (diluted) | $0.45 | -$1.15 | -$1.13 | $0.00 | $0.06 | -$0.21 | $14.29 | -$9.12 | -$4.48 | -$0.25 |
| Diluted shares | 53M | 58M | 60M | 62M | 66M | 73M | 76M | 117M | 128M | 135M |
| Gross margin | 66.4% | 65.3% | — | — | — | — | — | — | — | — |
| Operating margin | 2.3% | -5.8% | -2.9% | 1.7% | -2.4% | -4.7% | -6.1% | -20.8% | -2.2% | 2.3% |
| Net margin | 1.5% | -4.2% | -3.3% | -0.0% | 0.2% | -0.6% | 42.4% | -25.0% | -12.7% | -0.7% |
Balance sheet
Fiscal years, from ViaSat's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $130M | $71M | $262M | $304M | $296M | $310M | $1.3B | $1.9B | $1.6B | $1.7B |
| Receivables | $264M | $268M | $300M | $331M | $239M | $312M | $420M | $678M | $700M | $753M |
| Inventory | $163M | $196M | $235M | $294M | $337M | $198M | $269M | $318M | $294M | $281M |
| Total current assets | $615M | $613M | $887M | $1.0B | $991M | $1.2B | $2.2B | $3.5B | $2.9B | $3.1B |
| Property, plant and equipment | — | — | $2.1B | $2.6B | $3.1B | $3.7B | $4.4B | $7.6B | $7.4B | $7.3B |
| Goodwill | $120M | $121M | $122M | $121M | $122M | $169M | $159M | $1.6B | $1.6B | $1.6B |
| Total assets | $3.0B | $3.4B | $3.9B | $4.9B | $5.3B | $6.4B | $7.7B | $16.3B | $15.4B | $15.2B |
| Total current liabilities | $326M | $466M | $485M | $605M | $708M | $770M | $957M | $1.3B | $1.7B | $1.3B |
| Long-term debt | $848M | $978M | $1.4B | $1.8B | $1.8B | $2.5B | $2.4B | $7.1B | $6.5B | $6.4B |
| Total liabilities | $1.2B | $1.6B | $2.0B | $2.8B | $3.0B | $3.7B | $3.9B | $11.3B | $10.8B | $10.5B |
| Shareholders' equity | $1.7B | $1.8B | $1.9B | $2.0B | $2.4B | $2.6B | $3.8B | $5.0B | $4.6B | $4.7B |
| Net debt | $719M | $952M | $1.2B | $1.5B | $1.5B | $2.2B | $1.1B | $5.3B | $5.4B | $4.7B |
Cash flow
Fiscal years, from ViaSat's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $411M | $359M | $328M | $437M | $727M | $506M | $368M | $688M | $908M | $1.6B |
| Capital spending | $515M | $512M | $637M | $694M | $827M | $938M | $1.1B | $1.5B | $1.0B | $993M |
| Free cash flow | -$103M | -$153M | -$309M | -$257M | -$100M | -$433M | -$709M | -$851M | -$122M | $597M |
| Stock-based compensation | $56M | $69M | $80M | $87M | $85M | $87M | $84M | $84M | $80M | $81M |
| Net borrowing | — | $178M | $377M | $360M | -$21M | $656M | -$36M | $1.2B | -$416M | -$633M |
| Free cash flow margin | -6.6% | -9.6% | -15.0% | -11.1% | -5.2% | -17.9% | -27.7% | -19.9% | -2.7% | 12.9% |
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Open VSAT in InvestinglyQuestions
What was ViaSat's revenue in 2026?
$4.6B in fiscal 2026, from its 10-K filing.
How much free cash flow does ViaSat generate?
$597M in fiscal 2026 (operating cash flow minus capital spending).
From ViaSat's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.