VIASAT INC Segments Disclosure
Note 16 — Segment Information
The Company reports its results in two separate segments consisting of communication services and defense and advanced technologies. The Company's segments are determined consistent with the way management currently organizes and evaluates financial information internally for making operating decisions and assessing performance.
The Company’s reportable segments (communication services and defense and advanced technologies) have been determined based upon their market and economic characteristics while also giving consideration to the structure and management of various business lines. The reportable segments are primarily determined based upon industry categories and core competencies relating to product or service end market distribution, operations, and servicing and distinguished by the type of customer and, to a lesser extent, the related contractual requirements.
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. The Company’s communication services segment revenues are primarily derived from the Company’s aviation services (including IFC services), government satcom services, maritime services (including narrowband and safety of communication capabilities), fixed broadband services, and energy services, as well as a wide array of advanced satellite and wireless products, networks and terminal solutions that support or enable the provision of fixed and mobile broadband and narrowband services.
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 the Company’s technical competencies in encryption, cyber security, tactical gateways, modems and waveforms. The more regulated government environment for defense, encryption and other products is subject to unique contractual requirements and possesses economic characteristics that differ from the communication services segment. The Company’s defense and advanced technologies segment revenues are primarily derived from products and services in the Company’s information security and cyber defense, space and mission systems, tactical networking, and advanced technologies and other business lines, which are provided to government and commercial customers.
The Company's Chief Operating Decision Maker (CODM) is the Company's . Segment operating profits (losses) are the primary measure used by the Company's CODM to evaluate segment operating performance. The CODM regularly reviews budget-to-actual variances of segment operating profits (losses) when evaluating segment performance and allocating resources to each segment.
Segment revenues, expenses and operating profits (losses) for the fiscal years ended March 31, 2026, 2025 and 2024 were as follows:
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|
Fiscal Years Ended |
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|
March 31, 2026 |
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|
March 31, 2025 |
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March 31, 2024 |
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(In thousands) |
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Revenues: |
|
|
|
|
|
|
|
|
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|||
Communication services |
|
|
|
|
|
|
|
|
|
|||
Aviation services |
|
$ |
1,191,426 |
|
|
$ |
1,048,225 |
|
|
$ |
864,834 |
|
Government satcom services |
|
|
795,043 |
|
|
|
754,552 |
|
|
|
596,826 |
|
Maritime services |
|
|
463,061 |
|
|
|
477,968 |
|
|
|
430,090 |
|
Fixed services and other services |
|
|
607,693 |
|
|
|
741,601 |
|
|
|
906,762 |
|
Total services |
|
|
3,057,223 |
|
|
|
3,022,346 |
|
|
|
2,798,512 |
|
Total products |
|
|
242,428 |
|
|
|
276,139 |
|
|
|
343,028 |
|
Total communication services revenues |
|
|
3,299,651 |
|
|
|
3,298,485 |
|
|
|
3,141,540 |
|
Defense and advanced technologies |
|
|
|
|
|
|
|
|
|
|||
Total services |
|
|
217,200 |
|
|
|
203,430 |
|
|
|
206,082 |
|
Information security and cyber defense products |
|
|
414,482 |
|
|
|
325,439 |
|
|
|
302,056 |
|
Space and mission systems products |
|
|
330,867 |
|
|
|
304,870 |
|
|
|
309,253 |
|
Tactical networking products |
|
|
329,417 |
|
|
|
319,577 |
|
|
|
202,094 |
|
Advanced technologies and other products |
|
|
48,663 |
|
|
|
67,770 |
|
|
|
122,733 |
|
Total products |
|
|
1,123,429 |
|
|
|
1,017,656 |
|
|
|
936,136 |
|
Total defense and advanced technologies revenues |
|
|
1,340,629 |
|
|
|
1,221,086 |
|
|
|
1,142,218 |
|
Elimination of intersegment revenues |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total revenues |
|
$ |
4,640,280 |
|
|
$ |
4,519,571 |
|
|
$ |
4,283,758 |
|
Expenses: |
|
|
|
|
|
|
|
|
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|||
Communication services |
|
|
|
|
|
|
|
|
|
|||
Depreciation |
|
$ |
990,147 |
|
|
$ |
988,447 |
|
|
$ |
825,788 |
|
Stock-based compensation expense |
|
|
48,685 |
|
|
|
48,760 |
|
|
|
52,662 |
|
Other than acquired intangible assets amortization (1) |
|
|
37,321 |
|
|
|
41,373 |
|
|
|
50,718 |
|
Acquisition and transaction related expenses |
|
|
19,691 |
|
|
|
50,807 |
|
|
|
114,113 |
|
Ground network (FY25), satellite (FY24) impairment |
|
|
— |
|
|
|
169,400 |
|
|
|
905,496 |
|
Other segment items (2) |
|
|
2,051,254 |
|
|
|
2,049,920 |
|
|
|
2,009,817 |
|
Total communication services expenses (3) |
|
|
3,147,098 |
|
|
|
3,348,707 |
|
|
|
3,958,594 |
|
Defense and advanced technologies |
|
|
|
|
|
|
|
|
|
|||
Depreciation |
|
|
48,368 |
|
|
|
48,020 |
|
|
|
41,853 |
|
Stock-based compensation expense |
|
|
32,385 |
|
|
|
31,625 |
|
|
|
30,969 |
|
Other than acquired intangible assets amortization (1) |
|
|
22,611 |
|
|
|
19,034 |
|
|
|
12,000 |
|
Acquisition and transaction related expenses |
|
|
4,701 |
|
|
|
13,660 |
|
|
|
43,466 |
|
Other segment items (2) |
|
|
1,016,280 |
|
|
|
892,072 |
|
|
|
859,517 |
|
Total defense and advanced technologies expenses (3) |
|
|
1,124,345 |
|
|
|
1,004,411 |
|
|
|
987,805 |
|
Total expenses |
|
$ |
4,271,443 |
|
|
$ |
4,353,118 |
|
|
$ |
4,946,399 |
|
Operating profits (losses): |
|
|
|
|
|
|
|
|
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|||
Communication services |
|
$ |
152,553 |
|
|
$ |
(50,222 |
) |
|
$ |
(817,054 |
) |
Defense and advanced technologies |
|
|
216,284 |
|
|
|
216,675 |
|
|
|
154,413 |
|
Elimination of intersegment operating profits (losses) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Segment operating profit (loss) before corporate |
|
|
368,837 |
|
|
|
166,453 |
|
|
|
(662,641 |
) |
Corporate: |
|
|
|
|
|
|
|
|
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Amortization of acquired intangible assets |
|
|
(260,712 |
) |
|
|
(263,933 |
) |
|
|
(227,165 |
) |
Interest income |
|
|
205,849 |
|
|
|
83,920 |
|
|
|
96,258 |
|
Interest expense |
|
|
(360,250 |
) |
|
|
(421,944 |
) |
|
|
(400,398 |
) |
(Loss) gain on extinguishment of debt, net |
|
|
(11,935 |
) |
|
|
(99,814 |
) |
|
|
— |
|
Other income (expense), net |
|
|
163,012 |
|
|
|
(9,976 |
) |
|
|
— |
|
Income (loss) from continuing operations before income taxes |
|
$ |
104,801 |
|
|
$ |
(545,294 |
) |
|
$ |
(1,193,946 |
) |
The CODM is not regularly provided assets on a segment basis, therefore, such information is not presented.
The Company distinguishes revenues from external customers by geographic area based on customer location. Revenues by geographic area for the fiscal years ended March 31, 2026, 2025 and 2024 were as follows:
|
|
Fiscal Years Ended |
|
|||||||||
|
|
March 31, |
|
|
March 31, |
|
|
March 31, |
|
|||
|
|
(In thousands) |
|
|||||||||
U.S. customers |
|
$ |
3,161,146 |
|
|
$ |
3,117,233 |
|
|
$ |
3,029,303 |
|
Non U.S. customers (each country individually insignificant) |
|
|
1,479,134 |
|
|
|
1,402,338 |
|
|
|
1,254,455 |
|
Total revenues |
|
$ |
4,640,280 |
|
|
$ |
4,519,571 |
|
|
$ |
4,283,758 |
|
As of both March 31, 2026 and March 31, 2025, the net book value of long-lived assets located outside the United States was approximately $1.7 billion, including a net book value of long-lived assets located in the United Kingdom of $1.2 billion.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 29, 2026 | Showing above |
| 2025 | May 27, 2025 | |
| 2024 | May 29, 2024 | |
| 2023 | May 22, 2023 | |
| 2022 | May 31, 2022 | |
| 2021 | May 28, 2021 | |
| 2020 | May 29, 2020 | |
| 2019 | May 29, 2019 | |
| 2018 | May 30, 2018 | |
| 2017 | May 25, 2017 | |
| 2016 | May 26, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.