$VSAT

VIASAT INC

CIK:0000797721|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 1,156,543	$ 1,171,054
Operating expenses:
Selling, general and administrative	255,024	262,832
Independent research and development	45,491	34,193
Amortization of acquired intangible assets	65,018	65,741
Income (loss) from operations	47,308	46,672
Other income (expense):
Interest income	15,391	14,290
Interest expense	(82,304)	(100,357)
(Loss) gain on extinguishment of debt, net		(288)
Other income (expense), net	(306)	(5,164)
Income (loss) before income taxes	(19,911)	(44,847)
(Provision for) benefit from income taxes	(23,111)	(6,610)
Equity in income (loss) of unconsolidated affiliate, net	228	3,733
Net income (loss)	(42,794)	(47,724)
Less: net income (loss) attributable to noncontrolling interest, net of tax	8,947	8,710
Net income (loss) attributable to Viasat, Inc.	$ (51,741)	$ (56,434)
Basic net income (loss) per share attributable to Viasat, Inc. common stockholders:	$ (0.38)	$ (0.43)
Diluted net income (loss) per share attributable to Viasat, Inc. common stockholders:	$ (0.38)	$ (0.43)
Shares used in computing basic net income (loss) per share	137,121	131,578
Shares used in computing diluted net income (loss) per share	137,121	131,578
Comprehensive income (loss):
Net income (loss)	$ (42,794)	$ (47,724)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax	304	25,259
Other comprehensive income (loss), net of tax	304	25,259
Comprehensive income (loss)	(42,490)	(22,465)
Less: comprehensive income (loss) attributable to noncontrolling interest, net of tax	8,947	8,710
Comprehensive income (loss) attributable to Viasat, Inc.	(51,437)	(31,175)
Product [Member]
Revenues:
Total revenues	324,105	344,684
Operating expenses:
Cost of revenues	230,568	233,382
Service [Member]
Revenues:
Total revenues	832,438	826,370
Operating expenses:
Cost of revenues	$ 513,134	$ 528,234

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (42,794)	$ (47,724)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	233,708	257,701
Amortization of intangible assets	80,318	83,965
Stock-based compensation expense	24,191	14,707
Loss (gain) on extinguishment of debt		288
Deferred income taxes and other non-cash adjustments	(13,672)	21,358
Loss on disposition of fixed assets	3,785	6,646
Increase (decrease) in cash resulting from changes in operating assets and liabilities:
Accounts receivable	7,911	11,792
Inventories	(12,586)	11,170
Other assets	23,503	(31,074)
Accounts payable	4,530	(17,666)
Accrued liabilities	(25,118)	(31,930)
Other liabilities	(23,226)	(20,773)
Net cash provided by (used in) operating activities	260,550	258,460
Cash flows from investing activities:
Purchase of property, equipment and satellites, and other assets	(218,928)	(198,013)
Proceeds from insurance claims on satellites		10,000
Other investing activities		12,063
Net cash provided by (used in) investing activities	(218,928)	(175,950)
Cash flows from financing activities:
Payments on debt borrowings	(18,367)	(462,722)
Purchase of common stock in treasury (immediately retired) related to tax withholdings for stock-based compensation	(28,725)	(4,668)
Proceeds from issuance of common stock under equity plans	4,046
Distributions to minority shareholders		(45,902)
Other financing activities	(7,188)	(527)
Net cash provided by (used in) financing activities	(50,234)	(513,819)
Effect of exchange rate changes on cash	(2,404)	(3,304)
Net increase (decrease) in cash and cash equivalents	(11,016)	(434,613)
Cash and cash equivalents at beginning of period	1,746,835	1,612,105
Cash and cash equivalents at end of period	1,735,819	1,177,492
Non-cash investing and financing activities:
Issuance of common stock in satisfaction of certain accrued employee compensation liabilities	28,485	27,784
Right-of-use assets obtained in exchange for operating lease liabilities	8,088	26,304
Capital expenditures not paid for during the period	$ 7,734	$ 16,263

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
Current assets:
Cash and cash equivalents	$ 1,735,819	$ 1,746,835
Accounts receivable, net	744,423	753,430
Inventories	293,788	281,220
Prepaid expenses and other current assets	330,739	342,522
Total current assets	3,104,769	3,124,007
Property, equipment and satellites, net	7,248,899	7,272,637
Operating lease right-of-use assets	420,810	427,994
Acquired intangible assets, net	1,931,864	1,997,436
Goodwill	1,624,700	1,625,013
Other assets	780,560	779,509
Total assets	15,111,602	15,226,596
Current liabilities:
Accounts payable	288,629	288,154
Accrued and other liabilities	902,530	951,192
Current portion of long-term debt	661,939	57,753
Total current liabilities	1,853,098	1,297,099
Senior notes	3,068,721	3,664,848
Other long-term debt	2,711,739	2,726,004
Non-current operating lease liabilities	420,685	430,082
Other liabilities	2,339,668	2,379,301
Total liabilities	10,393,911	10,497,334
Commitments and contingencies (Note 8)
Viasat, Inc. stockholders’ equity
Common stock	14	14
Paid-in capital	5,075,524	5,044,536
Retained earnings (accumulated deficit)	(411,357)	(359,616)
Accumulated other comprehensive income (loss)	(24,329)	(24,633)
Total Viasat, Inc. stockholders’ equity	4,639,852	4,660,301
Noncontrolling interest in subsidiary	77,839	68,961
Total equity	4,717,691	4,729,262
Total liabilities and equity	$ 15,111,602	$ 15,226,596