Viasat's first quarter FY2027 revenue of $1.16B misses estimates, but strong awards drive record defense backlog.

Viasat reported first quarter fiscal 2027 revenue of $1.16 billion, down 1% year-over-year, and a net loss of $0.38 per share. While these figures missed analyst expectations, the company saw a 10% increase in new contract awards and reaffirmed its full-year guidance, citing progress on its ViaSat-3 satellite deployments and record defense backlog.

Key Highlights

• Total revenue decreased 1% YoY to $1.16 billion, driven by a 4% decline in the Defense and Advanced Technology segment, while the Communication Services segment was flat.
• New contract awards grew 10% YoY to $1.3 billion, contributing to a record backlog of $4.2 billion, up 19% from the prior year.
• The company generated $72 million in Free Cash Flow (excluding non-recurring items) and reaffirmed its full-year 2027 guidance for approximately $180 million in free cash flow.