Viasat Releases Second Quarter Fiscal Year 2025 Financial Results

Carlsbad, Calif., November 6, 2024, -- Viasat, Inc. (NASDAQ: VSAT), today published its second quarter fiscal year 2025 financial results in a letter to shareholders, which, along with webcast slides, is now posted to the Investor Relations section of Viasat's website.

Highlights of the results include:

• Revenue of US$ 1.1 billion in Q2 FY2025 decreased 8% YoY. Excluding the non-recurring contribution from the litigation settlement, revenue decreased 1% YoY reflecting growth in the Defense and Advanced Technologies segment that was offset by lower Communication Services revenue
 
• Net loss of $138 million for Q2 FY2025 improved compared to the net loss of $767 million in Q2 FY2024, primarily reflecting the impairment charge related to our satellite programs in the prior year period
 
• Q2 FY2025 Adjusted EBITDA1 was $375 million, a decrease of 23% YoY. Excluding the non-recurring contribution from the litigation settlement and the benefit from the $18 million received from a favorable adjustment to the consideration paid for the acquisition of Euro Broadband Infrastructure Sàrl (EBI) in Q2 FY2024, Adjusted EBITDA decreased 2% YoY. Strong operating performance in aviation services and tactical networking products partially offset declines in fixed services and other (FS&O), space and mission systems product and maritime service revenues. 
 
• Defense and Advanced Technologies revenue decreased 22% YoY. Excluding the non-recurring contribution from the litigation settlement, revenue grew 4% YoY driven primarily by tactical networking products.