Viasat (VSAT) risk factors, FY2025 10-K

Viasat's FY2025 10-K, filed May 27, 2025, lists 24 risk factors in 4 groups. There is no earlier 10-K to compare against, so the most company-specific risks are listed below.

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Risk factors listed
244 groups
Section length
12k wordsItem 1A

Viasat's biggest risks in the FY2025 10-K

  • Viasat's risk profile centers heavily on satellite operational hazards, U.S. government contract reliance, and heavy debt covenant restrictions.
  • The company faces high capital intensity, strict regulatory licensing hurdles, and significant customer concentration risks.

The risks most specific to Viasat

  • Risks Related to Our Satellites and Business

    Satellite Failures or Degradations in Satellite Performance Could Affect Our Business, Financial Condition and Results of Operations

    Our satellites face operational anomalies, space debris collisions, and solar storms in orbit.

  • Risks Related to Our Satellites and Business

    Potential Satellite Losses May Not Be Fully Covered By Insurance, or at All

    Pre-launch, launch, or in-orbit insurance for our satellites may be unavailable or inadequate, potentially triggering debt defaults.

  • Risks Related to Our Satellites and Business

    Our Reliance on U.S. Government Contracts Exposes Us to Significant Risks

    Any disruption in our significant revenue streams derived from U.S. Government contracts would severely harm our business.

  • Risks Related to Our Satellites and Business

    A Significant Portion of Our Revenues Is Derived from a Few of Our Contracts

    Our top five contracts generated approximately 18% of our total revenues in fiscal year 2025, creating high customer concentration.

  • Risks Related to Our Satellites and Business

    We Depend on a Limited Number of Key Employees Who Would Be Difficult to Replace

    We depend heavily on key technical and management personnel, including Chairman and CEO Mark Dankberg.

  • Risks Related to Our Satellites and Business

    We Expect Our Stock Price to Be Volatile, and You May Lose All or Some of Your Investment

    Our common stock price is highly volatile, having traded between $47.35 and $6.69 from April 1, 2023, to March 31, 2025.

  • Risks Related to the Regulation of Our Business

    Changes in the Regulatory Environment Could Have a Material Adverse Impact on Our Competitive Position, Growth and Financial Performance

    Changes in regulations governing radio frequency spectrum use and satellite launches could severely impact our financial performance.

  • Risks Related to Our Indebtedness

    Covenants in Our Debt Agreements Could Limit Our Ability to Implement Our Business Plan

    Covenants in our credit facilities and indentures restrict our operational flexibility and ability to secure additional financing.

All 24 risk factors

Headings as the filing states them, in filing order.

Risks Related to Our Satellites and Business

  1. 01Our Operating Results Are Difficult to Predict
  2. 02Satellite Failures or Degradations in Satellite Performance Could Affect Our Business, Financial Condition and Results of Operations
  3. 03Satellites Have a Finite Useful Life, and Their Actual Operational Life May Be Shorter than Their Mission Life
  4. 04Potential Satellite Losses May Not Be Fully Covered By Insurance, or at All
  5. 05The Markets in Which We Compete Are Highly Competitive and Our Competitors May Have Greater Resources than Us
  6. 06The Global Business Environment and Economic Conditions Could Negatively Affect Our Business, Financial Condition and Results of Operations
  7. 07the risks of disputes concerning indemnities and other obligations that could result in substantial costs
  8. 08Our Reliance on U.S. Government Contracts Exposes Us to Significant Risks
  9. 09intense competition for available U.S. Government business necessitating increases in time and investment for design and development
  10. 10Our Reputation and Business Could Be Materially Harmed as a Result of Data Breaches, Data Theft, Unauthorized Access or Hacking
  11. 11A Significant Portion of Our Revenues Is Derived from a Few of Our Contracts
  12. 12We Depend on a Limited Number of Key Employees Who Would Be Difficult to Replace
  13. 13Adverse Resolution of Litigation May Harm Our Operating Results or Financial Condition
  14. 14Future Sales of Our Common Stock Could Lower Our Stock Price and Dilute Existing Stockholders
  15. 15We Expect Our Stock Price to Be Volatile, and You May Lose All or Some of Your Investment
  16. 16We May Not Be Able to Utilize All of Our Deferred Tax Assets

Risks Related to the Regulation of Our Business

  1. 17We May Be Unable to Obtain or Maintain Required Authorizations or Contractual Arrangements
  2. 18Changes in the Regulatory Environment Could Have a Material Adverse Impact on Our Competitive Position, Growth and Financial Performance
  3. 19Our Business Could Be Adversely Affected by a Negative Audit by the U.S. Government and other Governments

Risks Related to Our Indebtedness

  1. 20limit our ability to adjust to changing market conditions
  2. 21Covenants in Our Debt Agreements Could Limit Our Ability to Implement Our Business Plan

Risks Related to Intellectual Property

  1. 22Our Ability to Protect Our Proprietary Technology Is Limited
  2. 23Our Involvement in Litigation Relating to Intellectual Property Claims May Have a Material Adverse Effect on Our Business
  3. 24We Rely on the Availability of Third-Party Licenses

Other Viasat 10-Ks

  • FY2026 10-K risk factors
    24 risks3 new3 dropped6 reworded

    AI model quality, data rights, governance, cybersecurity and privacy are now identified as business risks.

    Filed May 29, 2026

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.