Viasat’s Real-Time Earth network has antenna installations like this one in place around the globe. Photo: Viasat

Viasat’s Aviation business grew revenue, backlog, and aircraft in service in the third quarter, while company leadership targets a return to growth for its declining Maritime segment in fiscal year 2026. 

Viasat reported its third quarter financial results for fiscal year 2025 on Thursday, with revenue of $1.1 billion flat overall. Defense segment growth of 20% year-over-year was offset by a revenue decline in Communications Services.

The operator also updated the schedule for the third ViaSat-3 satellite (F3), pushing back its entry into service from mid- to late-2025 to calendar year 2026. The move is due to Viasat changing the specific configuration of the launch vehicle to a cheaper configuration with a longer orbit-raising time. 

In a Feb. 6 call with investors, CEO Mark Dankberg did not specify what the change was, but said Viasat adjusted a vehicle configuration and has not changed its previously announced launch contracts. The operator has ViaSat-3 launch contracts with ULA for an Atlas V launch, Ariane 64, and already used its SpaceX contract with the Falcon Heavy mission for the first ViaSat-3 launch in 2023. 

The F2 satellite is on track to launch and enter service late this calendar year. Dankberg confirmed the satellite is expected to ship to Cape Canaveral this summer. 

Viasat’s stock price jumped nearly 20% on Friday after the financial release. 

Aviation Momentum

Viasat’s Aviation business continues to have momentum, with Aviation service revenue growing 12% year-over-year to $264 million. 

Backlog grew even more at 22% year-over-year. Viasat ended the quarter with 1,570 aircraft in backlog, up about 60 aircraft sequentially. About 130 aircraft entered service during the quarter. Viasat reported 3,950 aircraft in service total. 

However, CFO Gary Chase said that near-term results are impacted by the slow recovery of aircraft deliveries by manufacturers, and Viasat expects to finish “a little bit below” the fiscal year below its target of 4,200 aircraft in service. 

Viasat’s forthcoming deal with Telesat will likely be focused on the aviation market, Dankberg said Thursday. Last quarter, Dankberg told investors that Viasat is in discussions with Telesat to purchase Low-Earth Orbit (LEO) capacity to augment its services. Viasat plans to have an agreement in place with Telesat “well in advance” of Lightspeed entering service, Dankberg said.  

“We are already working together on being sure that the terminals we’re deploying now are capable of working on the Lightspeed network, which is kind of a big attraction for a lot of our customers as well,” Dankberg added on the terminal strategy. 

Maritime Return to Growth 

Although maritime revenue was down in Q3, Viasat is expecting a return to growth for the segment in fiscal year 2026. Maritime revenue declined 8% year-over-year during the quarter, which Viasat attributed to the decline of legacy L-band offerings. Maritime revenue was $119 million during the quarter. 

CFO Chase told investors the rollout of new service NexusWave, along with the entry into service of the second ViaSat-3 satellite will “help turn these trends around beginning late in fiscal 2026,” he said. 

Dankberg said Viasat has orders in the low hundreds of vessels for NexusWave and expects to grow the number of orders substantially in the next year. 

NexusWave has received “a really positive reception in the maritime market for the targets that we were aiming for, which is heavy enterprise and carriers that were large enough for us to approach directly,” Dankberg said. “The reception has been really good.” 

Q3 Results 

Overall, Viasat reported $1.1 billion of revenue in the third quarter, flat year-over-year. 

Defense and Advanced Technologies grew 20% year-over-year to reach $303 million in revenue, driven by product revenue increases in tactical networking, information security and cyber defense, and space and mission systems.

Communication Services revenue decreased 6% year-over-year to $820 million. The decline was primarily driven by product revenues which were down 40% because of accelerated IFC terminal deliveries in the prior year period. 

Within Communication Services, Fixed Serves (broadband) revenue was down 21% year-over-year. U.S. fixed broadband ended the quarter with approximately 205,000 subscribers, a loss of 23,000 subscribers quarter-on-quarter. 

Aviation service revenue grew 12%, and Gov Satcom service revenue grew 11%. Maritime declined 8% year-over-year.