Every material Form 8-K Viasat has filed with the SEC since April 28, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Viasat reported second quarter fiscal year 2027 revenue of $1.2 billion, up 3% year-over-year, alongside a net loss of $129 million. The company experienced strong growth in its Defense and Advanced Technologies segment, offset by declines in Communication Services, while generating $78 million in free cash flow.
Viasat's board committee adopted the Viasat Value Creation Incentive Program (V-CIP), which grants performance-based restricted stock units that vest only if the stock reaches price hurdles between $150 and $300 through 2030. The committee expects to approve initial awards in December 2026 and plans to allocate a significant portion to Chairman and CEO Mark Dankberg, which may matter to shareholders given potential dilution from the shares involved.
Initial awards of up to 2.8 million PSUs expected, assuming the highest hurdle is met
Price hurdles of $150, $188, $225, $263 and $300, versus a $74.11 close on November 2, 2026
Performance period ends December 31, 2030, with a four-year service-based vesting requirement
Viasat reported first quarter fiscal 2027 results on August 4, 2026. Revenue was $1.2 billion, down 1% year over year, and adjusted EBITDA was $381 million, down 7%, while the net loss narrowed to $52 million from $56 million a year earlier. The company said the results are consistent with its fiscal 2027 outlook, and shareholders will weigh the narrower loss against the lower revenue and EBITDA.
Revenue of $1.2 billion fell 1% year over year, with Defense and Advanced Technologies down 4% and Communication Services flat.
Net loss was $52 million, compared with $56 million in Q1 FY2026, mainly due to reduced interest expense.
Adjusted EBITDA was $381 million, down 7% year over year; Defense and Advanced Technologies fell 20%.
Free cash flow excluding non-recurring items was $72 million, up 19% year over year; awards rose 10% to $1.3 billion.
Viasat reported fourth quarter and fiscal 2026 results on May 28, 2026. Q4 revenue rose 2% year over year to $1.2 billion and net income was $59 million, compared with a net loss of $246 million a year earlier, mainly due to a gain on the sale of its Navarino stake. Adjusted EBITDA fell 1% to $370 million, and the company said it will update its fiscal 2027 outlook during the first half of that year.
Q4 FY2026 revenue was $1.2 billion, up 2% year over year.
Q4 FY2026 net income was $59 million, versus a net loss of $246 million in Q4 FY2025.
Q4 FY2026 Adjusted EBITDA was $370 million, down 1% year over year.
Fiscal 2026 revenue was $4.6 billion and the net loss narrowed to $34 million from $575 million; the company will update its fiscal 2027 outlook over the first half of that year.
Viasat appointed Shekar Ayyar and Jinhy Yoon to its board on May 6, 2026, and entered into a cooperation agreement with activist investor Carronade Capital Management, LP. The board now has ten members, eight of them independent, and both new directors joined the Strategic Review Committee, which shareholders may watch as a signal of the review's direction.
Shekar Ayyar, CEO of Arrcus, Inc., appointed as an independent Class II director with a term expiring at the 2028 annual meeting
Jinhy Yoon, former PIMCO executive, appointed as an independent Class I director with a term expiring at the 2027 annual meeting
Cooperation agreement includes voting commitments and standstill obligations, and terminates if the board grows to more than ten directors
Both new directors were appointed to the Strategic Review Committee; the agreement is filed as Exhibit 10.1
Viasat reported third-quarter fiscal 2026 results on February 5, 2026. Revenue rose 3% to $1.2 billion and net income of $25 million improved from a net loss of $158 million a year earlier, though Adjusted EBITDA fell 2% to $387 million. Management kept its fiscal 2026 revenue and Adjusted EBITDA outlook, now expects positive fiscal 2026 free cash flow, and said it is still evaluating strategic options, including separating its government and commercial businesses.
Revenue of $1.2 billion, up 3% year over year; net income of $25 million versus a net loss of $158 million in Q3 FY2025
Net income gain was primarily due to higher interest income on the deferral of Ligado's quarterly fees, which were received as part of a lump sum payment
Adjusted EBITDA of $387 million, down 2%; operating cash flow of $307 million and free cash flow of $24 million, both excluding the $420 million Ligado lump sum payment
FY2026 outlook: low single-digit revenue growth and flat Adjusted EBITDA; capital expenditures of $1.0 billion to $1.1 billion; now expects positive free cash flow for FY2026
Viasat's subsidiary ViaSat Technologies Limited signed a $188.7 million direct loan facility with the Export-Import Bank of the United States, guaranteed by Viasat, to help finance the ViaSat-3 F1 satellite. The company expects the full amount to be drawn in a single disbursement, and the loan carries a fixed rate tied to the CIRR, currently 4.63%, with repayment starting May 25, 2026.
Facility size: $188.7 million, with $175.8 million for satellite costs and up to $12.9 million for exposure fees
Repayment: 16 approximately equal semi-annual installments, starting May 25, 2026, final maturity November 25, 2033
Security: first priority liens on selected ViaSat-2 assets of the subsidiary and a pledge of its capital stock held by Viasat
Separately, Viasat repaid early the $300.0 million outstanding under Inmarsat's original term loan on November 21, 2025
Viasat's board approved promoting Vice President Camellia E. FitzGerald to Chief Accounting Officer and principal accounting officer, effective January 2, 2026. It replaces Shawn Duffy, who leaves those roles on December 31, 2025 and will stay on as a Special Projects Advisor, a non-executive role.
Board approved the appointment on December 5, 2025; effective date is January 2, 2026
Shawn Duffy ceases as Chief Accounting Officer on December 31, 2025, when her severance agreement term expires
FitzGerald, 48, has been Vice President – Corporate Accounting and Finance at Viasat since 2014 and is a CPA in California
Duffy becomes a Special Projects Advisor from January 1, 2026
Viasat's board appointed Barbara Frenkel as a director on November 17, 2025, bringing the board to eight members, six of them independent. Frenkel previously served on Porsche AG's Executive Board for procurement until August 2025, and the filing describes this as a routine board addition with standard director compensation and indemnification terms.
Appointed as a Class I director on November 17, 2025, with a term expiring at the 2027 annual meeting
Board now has eight members, six of whom are independent
Frenkel, 62, was a member of Porsche AG's Executive Board – Procurement from August 2021 to August 2025
Compensation follows the non-employee director policy; she will also sign the standard indemnification agreement
Viasat reported fiscal second-quarter 2026 results, with revenue of $1.1 billion up 2% from a year earlier and a net loss of $61 million, compared with $138 million a year earlier. The company reiterated most of its fiscal 2026 outlook, including low single-digit revenue growth and flattish Adjusted EBITDA, so shareholders see improved headline results with guidance held steady rather than changed.
Q2 FY2026 revenue was $1.1 billion, up 2% year over year, led by 3% growth in Defense and Advanced Technologies.
Net loss attributable to Viasat was $61 million, versus $138 million in Q2 FY2025.
Adjusted EBITDA was $385 million, up 3% year over year; free cash flow was $69 million.
Fiscal 2026 guidance was kept for low single-digit revenue growth and flattish Adjusted EBITDA; net debt was $5.5 billion at quarter end.
At its annual meeting on September 4, 2025, Viasat stockholders approved amended and restated versions of the 1996 Equity Participation Plan and the Employee Stock Purchase Plan. They also elected Richard Baldridge and Sean Pak as Class II directors and ratified PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending March 31, 2026. The plan changes increase the number of shares that can be issued under those plans, which affects existing holders' potential ownership.
Equity plan share reserve set at 6,410,000 shares, plus shares from prior awards that become available again; the equity plan was approved with 77,530,367 votes for and 21,883,946 against.
Employee Stock Purchase Plan maximum increased by 5,000,000 shares to a total of 16,950,000 shares; approved with 99,252,742 votes for and 294,428 against.
Richard Baldridge received 93,856,135 votes for and 6,121,794 withheld; Sean Pak received 83,544,805 votes for and 16,433,124 withheld.
Stockholders ratified PricewaterhouseCoopers LLP with 117,873,269 votes for and 1,661,026 against.
Viasat announced that James Dodd, Senior Vice President and President of Commercial Services, will retire from that role on or about November 1, 2025. He will remain a non-executive employee through December 31, 2025, when his severance agreement expires, and will then receive the separation benefits under that agreement.
James Dodd is retiring as Senior Vice President and President, Commercial Services, on or about November 1, 2025
Dodd stays on as a non-executive employee through December 31, 2025
Separation benefits are provided under a previously filed severance agreement
Viasat reported first quarter fiscal 2026 results, with revenue up 4% year over year to $1.2 billion and Adjusted EBITDA up 1% to $408 million. The net loss widened to $56 million from $33 million a year earlier, mainly due to higher depreciation and amortization and a higher income tax provision, so shareholders see top-line growth alongside a larger loss.
Q1 FY2026 revenue of $1.2 billion, up 4% year over year, led by a 15% rise in Defense and Advanced Technologies revenue
Net loss of $56 million, compared with $33 million in Q1 FY2025
Adjusted EBITDA of $408 million, up 1%; full-year Adjusted EBITDA outlook of flattish year over year was kept
Capital expenditure guidance for FY2026 cut to approximately $1.2 billion, an improvement of $100 million from prior guidance
On May 21, 2025, Viasat signed new stockholder agreements with four major shareholders, replacing the former agreement, which it terminated. The former agreement gave the former sellers the right to appoint up to two directors, a right that no longer applies; director Andrew Sukawaty also resigned from the board and its committees the same day. The filing does not state the financial terms of these changes, but they alter board representation and shareholder voting commitments.
New Stockholder Agreements dated May 21, 2025 with WP Triton, Apax, CPP Investment Board and Ontario Teachers' Pension Plan, which replace the Former Stockholders Agreement.
Under the new agreements, holders with at least 3% (WP) or 1% (Apax, CPP, OTPP) ownership agree to vote in line with board recommendations, subject to exceptions for significant corporate transactions.
Former sellers lose the right to appoint up to two directors to the board, which the former agreement provided based on their holdings.
Andrew Sukawaty resigned from the board and all committees effective immediately on May 21, 2025, and said the decision was not due to any disagreement with Viasat.
Viasat reported fourth quarter and fiscal 2025 results in a shareholder letter filed with the SEC. Quarterly revenue was flat year over year, and the net loss widened to $246 million, including a $169 million ViaSat-3 EMEA ground network write-down, while the full-year net loss improved to $575 million on record revenue of $4.5 billion. The company expects low single-digit revenue growth and flattish Adjusted EBITDA in fiscal 2026.
Q4 FY2025 revenue was $1.1 billion, flat year over year; Q4 net loss was $246 million versus $90 million in Q4 FY2024.
The Q4 loss included a $169 million charge tied to the ViaSat-3 EMEA ground network, of which $104 million was non-cash asset write-downs.
FY2025 revenue was a record $4.5 billion, and the net loss improved to $575 million from the prior year.
For FY2026, the company expects low single-digit revenue growth and flattish Adjusted EBITDA, with capital expenditures of approximately $1.3 billion.
Viasat's board accepted the May 9, 2025 resignation of director James Bridenstine, which the company said did not result from a disagreement, and appointed William LaPlante and Michael Paull as directors the same day. The board now has eight members, six of them independent, and the changes are governance updates rather than a change in operations or finances.
James Bridenstine resigned from the Board on May 9, 2025, with no disagreement with the company cited.
William LaPlante and Michael Paull were appointed as Class III directors on May 9, 2025, with terms expiring at the 2026 annual meeting.
The Board now has eight members, six of whom are independent directors.
Both new directors will receive compensation under the company's non-employee director policy.
Viasat said Executive Vice President and Chief Corporate Officer Kevin Harkenrider will retire from that role on June 30, 2025, or earlier if his employment ends sooner, and the date can be extended by mutual agreement to no later than December 31, 2025. He will then stay on as a non-executive employee through December 31, 2025. The filing does not name a successor or describe a financial effect.
Kevin Harkenrider, EVP and Chief Corporate Officer, to retire from that role on June 30, 2025, or earlier if his employment ends sooner
Retirement date can be extended by mutual agreement, but no later than December 31, 2025
Harkenrider will remain a non-executive employee through December 31, 2025
Filing was signed by Brett Church, Associate General Counsel, on April 28, 2025
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