Viasat, Inc. (ViaSat) provides global communications technologies and services, focuses on making connectivity accessible, available and secure for customers worldwide.
The company's end-to-end multi-band platform of satellites, ground infrastructure, and user terminals enables it to provide a wide array of cost-effective, high-quality broadband, narrowband, and other connectivity solutions to aviation, maritime, enterprise, consumer, military, and government users around the globe, whether on...
Viasat, Inc. (ViaSat) provides global communications technologies and services, focuses on making connectivity accessible, available and secure for customers worldwide.
The company's end-to-end multi-band platform of satellites, ground infrastructure, and user terminals enables it to provide a wide array of cost-effective, high-quality broadband, narrowband, and other connectivity solutions to aviation, maritime, enterprise, consumer, military, and government users around the globe, whether on the ground, in the air, or at sea. In addition, the company's government business includes a portfolio of communications gateways, situational awareness, and command and control products and services, satellite communication products and services across various frequency bands, and cybersecurity and information assurance products and services.
The company's diversification strategy-anchored in a broad portfolio of customer-centric products and services, and supported by its fleet of broadband and narrowband satellites-its vertical integration, and its ability to effectively cross-deploy technologies between government and commercial applications and segments, as well as across different geographic markets, provide it with a strong foundation to sustain and enhance the company's leadership in advanced communications and networking technologies.
Segments
The company conducts its business through two reportable segments: communication services and defense and advanced technologies.
Communication Services
The company's communication services segment provides a wide range of broadband and narrowband communications solutions across government and commercial mobility markets, as well as for residential and enterprise fixed broadband customers. In addition, this segment includes the development and sale of a wide array of advanced satellite and wireless products and terminals that support or enable the provision of fixed and mobile broadband and narrowband services. The company designs, develops and produces space system solutions for multiple orbital regimes, including geostationary earth orbit (GEO), medium earth orbit (MEO), and low earth orbit (LEO).
The company's complementary fleet of 23 in-service or operational satellites spans the Ka-, L-, and S-bands, with 13 Ka-band satellites, eight high-availability L-band satellites (three of which are contingency L-band satellites that are operational but not currently in commercial service), an S-band satellite that supports the European Aviation Network (EAN) to provide in-flight connectivity (IFC) services to commercial airlines in Europe, and an Inmarsat-6 class hybrid Ka-/L-band satellite (the I-6 F1 satellite). In late July 2024, the ViaSat-3 F1 satellite completed in-orbit testing and was integrated into its existing satellite fleet covering the Americas. In May 2025, subsequent to fiscal year-end, two Ka-band highly-elliptical earth orbit satellite payloads (GX10A and GX10B) were put in service to provide polar coverage for government customers, with commercial maritime and aviation services anticipated to follow during fiscal year 2026. Furthermore, the company has eight additional geostationary earth orbit (GEO) satellites under development: two additional high-capacity Ka-band GEO satellites (ViaSat-3 F2 and ViaSat-3 F3), three additional adaptive Ka-band GEO satellites (GX 7, GX 8, and GX 9), and three Inmarsat-8 L-band GEO safety service satellites. The company's extensive satellite fleet enables it to provide a wide array of high-quality broadband and narrowband services with near-global coverage (including strong oceanic coverage), with greater redundancy and resiliency.
The following are the primary business lines in the company's communication services segment:
Aviation, which includes industry-leading IFC services, narrowband safety operational data services, and other complementary services and applications for commercial aircraft, business jets, and unmanned aircraft. As of March 31, 2025, the company had its IFC systems installed and in service on approximately 4,120 commercial aircraft (of which approximately 90 were inactive at quarter-end, mostly due to standard aircraft maintenance) and 2,000 business jets with Ka-band communication services. The company anticipates that approximately 1,600 additional commercial aircraft will be put into service with its IFC systems under existing customer agreements with commercial airlines. However, due to the nature of commercial airline contracts and other factors, such as OEM delays, there can be no assurance that anticipated IFC services will be activated on all such additional commercial aircraft.
Government satcom, which includes various broadband and narrowband products and services for both fixed and mobile communications that provide military and government users with secure, high-speed, real-time broadband and multimedia connectivity in key regions of the world, as well as tactical line-of-sight and beyond-line-of-sight communications, Intelligence Surveillance and Reconnaissance (ISR) services, and L-band Advanced Communications Element (LACE) terminals.
Maritime, which includes high-quality, resilient satellite-based broadband and narrowband communications services around the globe to commercial shipping fleets, offshore service vessel operators, and commercial fishing companies, as well as NexusWave, a fully managed multi-layer connectivity service for merchant shipping companies. As of March 31, 2025, the company provided Ka-band communication services to approximately 14,000 vessels.
Fixed services and other, which includes high-speed, high-quality, reliable fixed broadband internet services to businesses and residential users (primarily in the United States, as well as in various countries in Europe and Latin America), enterprise connectivity solutions, Internet-of-Things (IoT), and other narrowband services (such as L-band managed services that enable real-time machine-to-machine (M2M) position or high-value asset tracking), energy services, and prepaid internet services that provide innovative, affordable, satellite-based connectivity in communities that have little or no access to the internet. As of March 31, 2025, the company's U.S. fixed broadband business had approximately 189,000 subscribers with an average monthly revenue per user of $115.
Defense and Advanced Technologies
The company's defense and advanced technologies segment develops and offers a diverse array of resilient, vertically integrated solutions to government and commercial customers, leveraging its core technical competencies in encryption, cybersecurity, tactical gateways, modems, and waveforms.
The following are the primary business lines in the company's defense and advanced technologies segment:
Information security and cyber defense, which comprises a variety of high-quality networking, cybersecurity, and information assurance products and services that provide advanced, high-speed IP-based 'Type 1' and High Assurance Internet Protocol Encryption (HAIPE)-compliant encryption solutions that enable military and government users to communicate information securely, and that protect the integrity of data stored on computers and storage devices. Information security and cyber defense also includes the company's MOJO expeditionary tactical gateway family of products.
Space and mission systems, which includes specialized design and technology services covering all aspects of satellite communication system architecture, networks and technology, including state-of-the-art government satellite communication systems, mobile and fixed broadband modems, ground and airborne terminals, antennas, and gateways for terrestrial and satellite customer applications, Ka-band earth stations, and other multi-band/multi-function antennas, as well as products designed for manpacks, aircraft, unmanned aerial vehicles, seagoing vessels, ground-mobile vehicles, space-based systems, and fixed applications. Space and mission systems also includes the design and development of the architecture of high-capacity Ka-band GEO satellites and the associated satellite payload and antenna technologies (both for the company's own satellite fleet, as well as for third parties), and special purpose LEO and MEO satellites and other small satellite platforms.
Tactical networking, which provides resilient communications designed for on-the-move or on-the-pause operations in a multi-domain battlespace with friendly force tracking and narrowband solutions. Tactical networking includes the products and services offered by TrellisWare.
Advanced technologies and other, which includes commercial communication satellite product development, orchestration of sovereign and multi-orbit solutions, products focused on emerging growth markets (such as direct-to-device), and intellectual property licensing revenues.
Strategy
The company's business strategy is to be a leader in the market segments it chooses to serve by relentlessly innovating technology and business models, and to maintain its leadership position in utilization and yield with cost-efficient, high-quality satellite-based communications products and services, focused on making connectivity accessible, available, and secure for current and future customers worldwide in attractive growth markets. The company's strategic purpose is to responsibly and efficiently serve its customers by matching their increasing demand for bandwidth in the right place, at the right time-even in the highest demand locations-with its high-capacity dynamic global satellite networks alongside hybrid multi-orbit, multi-band network service capabilities. By taking advantage of its fleet of owned, leased, and partner satellites, and the dynamic beam-forming of its newest ones, the company can derive and deliver substantially more value from already on-orbit resources.
The principal elements of the company's strategy are to deliver the most productive satellite systems, drive efficiencies of scale, maintain focus on technology leadership, follow its path of proven performance, customer-centricity evolution, continue to expand into new markets and geographies, such as enter and disrupt new and adjacent markets through technology innovation, think beyond current customer requirements to open new markets, and target international expansion; manage for the long term, such as pursue growth through strategic alliances, partnering arrangements, and relationships, and encourage safe, sustainable access to space.
Customers
The company's customer base is highly diversified. Customers of the company's communication services segment reflect the diversity in its service offerings and include commercial airlines, business jet owners and operators, maritime commercial shipping fleets, offshore service vessel operators, commercial fishing companies, residential customers, small and medium-sized businesses, enterprises, and government and military users. The customers of the company's defense and advanced technologies segment include the DoD, the DHS, select other U.S. federal, state, and local government agencies, foreign governments, allied armed forces, public safety first responders, remote government employees, commercial and defense contractors, satellite network integrators, large communications service providers, and enterprises requiring complex communications and networking solutions, as well as various defense contractors, North Atlantic Treaty Organization (NATO), the European Space Agency, and privately held companies, international organizations, and non-government entities that support government businesses worldwide. The company enters into government contracts either directly with the U.S. or foreign governments, or indirectly through domestic or international partners or resellers, and acts as both a prime contractor and subcontractor for the sale of equipment and services to government and defense users.
Revenues from the U.S. Government as an individual customer consisted of approximately 18% of total revenues for fiscal year 2025.
The U.S. Government Contracts
Substantial portions of the company's revenues are generated from contracts and subcontracts with the DoD and other federal government agencies. Many of the company's contracts are subject to a competitive bid process and are awarded on the basis of technical merit, personnel qualifications, experience, and price. The company also receives some contract awards involving special technical capabilities on a negotiated, noncompetitive basis due to its unique mix of communication products, satellite services, engineering capabilities, and technical expertise in specialized areas. The Federal Acquisition Streamlining Act of 1994 has encouraged the use of commercial type pricing, such as firm fixed-price contracts, on dual-use products.
The company provides products and services under federal government contracts that usually require performance over a period of several months to multiple years.
The company's allowable federal government contract costs and fees are subject to audit and review by the Defense Contract Management Agency (DCMA) and the Defense Contract Audit Agency (DCAA).
Research and Development
The company incurred $142.4 million during fiscal year 2025, on independent research and development (IR&D) expenses, which comprise R&D not directly funded by a third party.
Sales and Marketing
The company has a sales presence in various domestic and international locations, and it sells the company's products and services both directly and indirectly through partners, as described below:
Communication Services Sales Organization: The company's communication services sales organization involves both direct and indirect channels and varies based on subscriber and service type. The company's commercial aviation offerings are sold directly to airlines, and its business aviation offerings are sold through direct sales and business development personnel, as well as through aviation-focused value-added resellers. The company's maritime service offerings are sold through direct and indirect value-added reseller partners targeting a variety of maritime commercial prospects. In each case, the company's focus is to identify business opportunities and develop solutions for the unique needs of each customer segment. The company's residential fixed broadband services are primarily sold directly to customers through its Viasat Internet website, sales call centers, and active retail dealers, and it utilizes extensive dealer networks across the United States, as well as in each country where residential fixed broadband services are offered, to sell such services. The company's business internet offerings are sold through a mix of direct sales personnel who work with enterprises and a network of enterprise-focused master agents and wholesale distribution partners. Finally, the company's community internet services are sold through local distribution partnerships. In addition to its sales force, the company maintains a highly trained service staff to provide technical product and service support to its customers.
Defense and Advanced Technologies Sales Organization: The company's defense and advanced technologies sales organization consists of direct sales personnel who sell its standard products and services, and business development personnel who work with engineers, program managers, marketing managers, and contract managers to identify business opportunities, develop customer relationships, develop solutions for customers' needs, prepare proposals, and negotiate contractual arrangements, as well as sales managers and sales engineers, who act as the primary interface to establish account relationships and determine technical requirements for customer networks. The period of time from initial contact through the point of product sale varies based on the products and services provided, and can take three years for more complex developments. Products in production can usually be delivered to a customer between 90 to 180 days from the point of product sale.
Strategic Partners: To augment the company's direct sales efforts, it seeks to develop key strategic relationships to market and sell its products and services. The company directs its sales and marketing efforts to its strategic partners, primarily through its senior management relationships.
The company's marketing team works closely with its corporate and segment leadership, customer account executives, and business development, sales, and operations organizations to increase the awareness and value of the Viasat brand through a mix of positive program performance, agile, results-oriented multichannel marketing campaigns that reflect new and evolving customer journeys, public relations, paid and owned media, live and virtual events, and conference speaking engagements that keep the market current on the company's services, products, and features. Viasat products and services, both in the U.S. and internationally, are typically sold under one unified master global brand, using a single logo and visual identity system.
Competition
In the company's communication service segment, its aviation service offerings compete against air-to-ground mobile services and other satellite-based services, such as the services offered by Anuvu, Gogo, Intelsat, Iridium, Kuiper, Panasonic Avionics Corporation, SES, SpaceX, and Thales Group, among others. The company's maritime service offerings compete against KVH, SES, SpaceX, and Speedcast, among others. New entrants, some with significant financial resources and new emerging offerings (including terrestrial and space-based networks, such as LEO and MEO constellations), also compete with its satellite service offerings.
In the company's defense and advanced technology segment, it competes with numerous other providers of satellite and terrestrial communications systems, products, and equipment, including: CPI Antenna Systems Division, Comtech, EchoStar (Hughes Network Systems), General Dynamics, Gilat, iDirect Technologies, L3Harris, Maxar, Newtec, Panasonic Avionics Corporation, Safran Aerosystems, SpaceX, and Thales Group.
The government businesses in both of the company's segments compete with government communications service providers and manufacturers of defense electronics products, systems, or subsystems, such as BAE Systems, Collins Aerospace, EchoStar (Hughes Network Systems), Eutelsat, General Dynamics, Intelsat, Iridium, L3Harris, OneWeb, SES, SpaceX, Telesat, and similar companies.
Regulatory Environment
The orbital location and frequencies for the company's satellites are subject to the ITU's regulations, including its frequency registration and coordination procedures, and its various provisions on spectrum usage.
The operation of the company's earth stations is subject to various license conditions, as well as the technical and operational requirements of the FCC's rules and regulations.
The FCC has authorized the use of the company's satellites that provide coverage to the United States. The use of these spacecraft in its business is subject to various conditions in the underlying authorizations, as well as the technical and operational requirements of the FCC's rules and regulations.
The company is obligated to comply with the requirements of the Communications Assistance for Law Enforcement Act (CALEA), which requires telecommunications providers and broadband internet access providers to ensure that law enforcement agencies can conduct lawfully authorized surveillance of users of their services.
The company is subject to federal and state laws concerning the privacy of consumers and the security it applies to their personal information. Certain of these laws provide privacy protections for certain types of personal information related to the company's voice services. The Federal Trade Commission also oversees consumer privacy and data security more broadly through its authority to take enforcement action for unfair or deceptive practices, and state consumer protection laws can prompt review of privacy practices by state attorneys general. In addition, certain states have established specific consumer privacy and data security requirements, including the California Consumer Privacy Act (CCPA) and the California Privacy Rights Act that amended the CCPA in January 2023, which combined give California residents, among other things, the right to receive certain disclosures regarding the collection, use, and disclosure of personal information, as well as rights to access, delete, and restrict the sale and sharing of certain personal information collected about them by the company and its service providers.
The spacecraft the company uses in its business are subject to the regulatory authority of, and conditions imposed by, foreign governments, as well as contractual arrangements with third parties, and the rules and procedures of the ITU. The company's ViaSat-1 satellite operates under authority granted to ManSat Limited by the governments of the Isle of Man and the United Kingdom (as well as authority from the FCC), and pursuant to contractual arrangements it has with ManSat Limited that extend past the expected useful life of ViaSat-1. ViaSat-2 and various Inmarsat satellites operate under the authority of the United Kingdom. ViaSat-3 F1 operates under the authority of the United Kingdom and the FCC. The company also uses Ka-band capacity on the Anik F2 satellite to provide its broadband services under an agreement with Telesat Canada, and it may do so until the end of the useful life of that satellite. Telesat Canada operates that satellite under authority granted to it by the government of Canada. The company also currently uses the WildBlue-1 satellite, which it owns, and which is co-located with Anik F2 under authority granted to Telesat Canada by the government of Canada, and pursuant to an agreement it has with Telesat Canada that expires upon the end of the useful life of Anik F2. Accordingly, the company is reliant upon ManSat Limited and Telesat Canada maintaining their respective governmental rights on which the company's operating rights are based. The use of these spacecraft in the company's business is subject to various conditions in the underlying authorizations held by it, ManSat Limited, and Telesat Canada, as well as the technical and operational requirements of the rules and regulations of those jurisdictions.
The company is also subject to certain other forms of foreign regulation in connection with its provision of communications services. In the area of data protection, encompassing both privacy and cybersecurity, the company is subject to existing, new, and evolving laws and regulations in the markets in which it operates. For instance, certain of the company's business units are subject to the European Union's (EU) General Data Protection Regulation, which imposes transparency, accountability, data security, cross-border data transfer, and other obligations on the company both as a data controller and a data processor of the personal data of individuals in the EU.
Due to the nature and sophistication of the company's communications products, it must comply with applicable U.S. Government and other agency regulations regarding the handling and export of certain of its products.
The company interacts with the FAA regarding aircraft modification through two main activities: (1) supporting Type Certificate (TC) activity with an aircraft original equipment manufacturer (OEM) to obtain line-fit installation certification of the company's IFC and W-IFE equipment, and (2) obtaining a Supplemental Type Certificate (STC) to enable the retrofit installation of its IFC and W-IFE equipment. With respect to TC activity, the OEM is responsible for full certification and FAA regulatory compliance, and the company is responsible for providing certified equipment to the OEM. With respect to STC activity, the company typically uses Organization Designation Authorization (ODA) to support holding and maintaining its STCs to ensure FAA regulatory compliance.
The company's commercial aviation business depends on its ability to interact with the FAA, comparable foreign agencies, and ODAs, as well as certified engineering professionals, in order to access data and obtain authorizations and approvals.
The company has a wide range of products supporting both commercial and business aviation customers. The FAA, under its Part Manufacturing Approval (PMA) program, provides authorization to entities like the company and its vendors to manufacture and deliver IFC and W-IFE equipment. These approvals are provided through assigned FAA Manufacturing Inspection District Offices and are subject to strict rules and ongoing oversight. The company has been able to obtain PMA on all of its current IFC and W-IFE product offerings due to multiple agreements with both major OEMs for line-fit installations and ODAs for retrofit installations.
The FAA has approved several of the company's locations as 14 CFR Part 145 repair stations, which enables the company to provide ongoing support to customers with respect to its IFC and W-IFE systems. These repair stations support both line-replaceable unit (LRU) and line maintenance activities associated with the company's IFC and W-IFE products. These approvals are provided and overseen by FAA Flight Standards District Offices. The company has also obtained European Aviation Safety Agency (EASA) approval for its repair stations dedicated to LRU repair and maintenance for its IFC and W-IFE products.
As a government contractor, the company is routinely subject to audit and review by the DCMA, the DCAA, and other U.S. Government agencies of the company's performance on government contracts, indirect rates and pricing practices, accounting and management internal control business systems, and compliance with applicable contracting and procurement laws, regulations, and standards.
Seasonality
In the company's communication services segment, it typically sees increased demand for its IFC services from airline passengers during peak holiday and summer travel periods, and historically subscriber activity for the company's fixed broadband services has been influenced by seasonal effects related to traditional retail selling periods (with new sales activity generally anticipated to be higher in the second half of the calendar year (year ended March 31, 2025)).
Results of the company's government business lines in both of its segments are impacted by various factors, including the timing of contract awards (with the second quarter of its fiscal year, for example, typically receiving a greater number of government contract awards), and the timing and availability of U.S. Government funding, as well as the timing of product deliveries and customer acceptance.
History
ViaSat, Inc. was founded in 1986. The company was incorporated in California in 1986 and reincorporated in Delaware in 1996.
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