ViaSat Inc. Reports 6% Revenue Growth to $4.52 Billion for Fiscal Year 2025

**ViaSat Inc. Reports Fiscal Year 2025 Results**

ViaSat Inc. (VSAT) has released its financial results for the fiscal year ended March 31, 2025, showcasing a total revenue of $4.52 billion, a 6% increase compared to the $4.28 billion reported in the previous fiscal year. This growth was primarily driven by a 7% increase in service revenues, which reached $3.23 billion, while product revenues saw a more modest increase of 1% to $1.29 billion. Despite the revenue growth, the company reported a net loss attributable to ViaSat Inc. of $575.0 million, compared to a net loss of $1.07 billion in fiscal year 2024.

The company's operating expenses included a cost of service revenue of $2.09 billion and a cost of product revenue of $937.9 million. Selling, general, and administrative expenses amounted to $1.18 billion, which included a $169.4 million impairment related to ground network assets. Independent research and development expenses totaled $142.4 million, while amortization of acquired intangible assets reached $263.9 million. The company's communication services segment reported revenues of $3.30 billion, while the defense and advanced technologies segment generated $1.22 billion.

Key operational developments included the integration of the ViaSat-3 F1 satellite into the existing fleet and the putting into service of two Ka-band highly-elliptical earth orbit satellite payloads. As of March 31, 2025, ViaSat had its in-flight connectivity (IFC) systems installed and in service on approximately 4,120 commercial aircraft and 2,000 business jets. The company anticipates activating IFC services on approximately 1,600 additional commercial aircraft under existing customer agreements. The U.S. fixed broadband business had approximately 189,000 subscribers with an average monthly revenue per user of $115.

Looking ahead, ViaSat expects growth in its communication services business to be driven by increasing demand for global mobility services and expansion in government satcom services. The company also anticipates growth in its defense and advanced technologies business due to increasing reliance on space-based assets for military operations and growing demand for digitization of military infrastructure. The company's firm backlog as of March 31, 2025, was $3.55 billion, with approximately half expected to be delivered during the next 12 months. As of May 9, 2025, the number of shares outstanding of the company’s common stock was 130,319,585.