Results of operations

Summary

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• Revenue for Q1 FY2027 was $1,156.5 million, a 1% year-over-year decrease, reflecting a 4% decline in Defense and Advanced Technologies while Communication Services remained flat.
• Net loss attributable to Viasat was $51.7 million, improved from a $56.4 million loss in Q1 FY2026, primarily due to reduced interest expense from debt reduction and deleveraging, partially offset by an increased provision for income taxes.
• Adjusted EBITDA was $381.1 million, a decrease of 7% YoY, with Defense and Advanced Technologies down 20% and Communication Services down 3%.
• New contract awards totaled $1,298.0 million, up 10% YoY, and backlog reached $4,217.7 million, up 19% YoY; DAT awards rose 22% to a record $523.9 million and DAT backlog reached a record $1.4 billion.
• Viasat was awarded a prime contract by the U.S. Space Force to build a mini-GEO satellite under the Protected Tactical SATCOM-Global (PTS-G) program, which has an IDIQ ceiling value of $4B across program awardees.
• Viasat completed all deployments and the satellite bus In-Orbit Test phase on VS-3 F2 and anticipates its service entry by September 2026, and completed reflector assembly deployments on VS-3 F3 ahead of service entry over the APAC region.

Why it mattersThe results disclose progress on VS-3 satellite deployments and a U.S. Space Force PTS-G prime contract award, alongside record Defense and Advanced Technologies backlog. Net leverage declined 0.4x to 3.2x as Viasat reduced debt.