CARLSBAD, Calif. - Viasat Inc. (NASDAQ:VSAT) announced today it received a prime contract from the U.S. Space Force’s Space Systems Command to build, launch and deliver the first satellite in a fleet of small, maneuverable geosynchronous Earth orbit satellites under the Protected Tactical SATCOM-Global program.The contract win comes as the $8.4 billion market cap company trades near $61.50, though InvestingPro analysis suggests the stock is currently overvalued relative to its Fair Value. Despite a recent 16% pullback over the past week, shares have surged 460% over the past year. According to InvestingPro Tips, analysts predict the company will be profitable this year—one of 12+ additional insights available to subscribers.
The Swarm 1 Delivery Order contract follows Viasat’s completion of the Delivery Order 1 phase awarded in 2025, according to a press release statement. The PTS-G program has an Indefinite Delivery Indefinite Quantity ceiling value of $4 billion across program awardees.
Under the multi-year development award, Viasat’s Space and Mission Systems team will produce and deliver a dual-band X/Ka-band mini-GEO maneuverable satellite and provide ground stations and operations support. The contract includes five years of operations and sustainment services for the satellite, covering tracking, telemetry, command, satellite and network operations, and cybersecurity requirements.
The satellite architecture will use technology developed for the ViaSat-3 fleet. Viasat stated its production and delivery of the dual-band satellite system will support meeting initial operating capability no earlier than 2029.
"This production award recognizes Viasat’s technical and operational expertise designing and rapidly delivering resilient, and high-performance dual-use satellite solutions in a multi-orbit environment," said Craig Miller, President of Viasat Government.
The PTS-G program is part of the U.S. Space Force’s strategy to deploy a proliferated constellation of agile GEO satellites to deliver secure communications for military operations. The program emphasizes using commercial baseline designs to improve operational flexibility.
Viasat completed its acquisition of Inmarsat in May 2023. The company’s Space and Mission Systems team is part of its Defense and Advanced Technologies segment.
In other recent news, ViaSat reported its fourth-quarter 2026 earnings, showing a significant earnings per share (EPS) beat. The company posted an EPS of -$0.02, surpassing the expected -$0.43, marking a 95.35% surprise. However, revenue for the quarter was slightly below expectations, coming in at $1.17 billion compared to the forecasted $1.19 billion. In the same period, ViaSat’s revenue increased by 2% year-over-year to $1.2 billion, although it was 2.4% below the StreetAccount consensus. The Defense and Advanced Technologies segment experienced a 12% revenue growth, while the Communication Services segment saw a 2% decline. Adjusted EBITDA decreased by 1% year-over-year, missing consensus estimates by 3.5%. Analyst firm Needham raised its price target for ViaSat to $90, maintaining a Buy rating due to strong bookings. Meanwhile, Barclays reiterated an Equalweight rating with a $49 price target, following the company’s fiscal 2027 guidance.
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