← ViaSat overview

ViaSat vs Leidos: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

ViaSat Inc (VSAT)

Q3 2026
▲3▼1

Viasat gains on defense wins, patent award, and positive cash flow

  • Defense contract wins Viasat won a US Space Force mini-GEO satellite contract and a $12M Space Data Network award, boosting its defense business and investor confidence.

    These new contracts directly drove positive sentiment and revenue prospects.

  • Patent verdict and constellation completion A $229M patent verdict against Kioxia and the completed ViaSat-3 constellation tripling bandwidth strengthened Viasat's financial and operational position.

    These events provided a cash boost and expanded capacity, key positive drivers.

  • Positive free cash flow and automotive entry Viasat turned free cash flow positive at $72M with a $4.2B backlog, and an in-vehicle satellite call with BMW opened a new automotive market.

    Financial health and new market entry are fundamental positives for the stock.

  • Competitive and market pressures SpaceX's IPO pressured smaller space stocks, M&A speculation created volatility, and competition from proven players like SpaceX remains intense.

    These factors acted as headwinds, offsetting positive developments.

August 2026
▲4

ViaSat-3 constellation complete, cash flow positive, defense wins

  • ViaSat-3 F2 enters service, completing global constellation ViaSat-3 F2 entered service across the Americas, completing the ViaSat-3 constellation and tripling global bandwidth. This boosts Viasat's ability to serve aviation, maritime, government and broadband customers, supporting revenue growth and pricing power.

    This is the biggest new event, directly expanding Viasat's core capacity and service offerings.

  • Positive free cash flow and strong backlog Viasat reported positive free cash flow of $72 million, up 19%, and backlog rose 19% to $4.2 billion. Management expects about $180 million free cash flow for fiscal 2027, signaling improving financial health and ability to fund growth.

    This shows the company is generating cash and growing its order book, key for investor confidence.

  • Space Force awards $60M to break SpaceX monopoly Viasat was one of five companies awarded a $12 million contract to integrate with the Space Data Network, expanding its government business. This reduces reliance on SpaceX and opens new defense revenue streams.

    This is a new government contract win that diversifies Viasat's revenue and strengthens its defense segment.

  • Viasat selects Rocket Lab for secure satellite bus Viasat chose Rocket Lab to build a secure mini-GEO satellite bus for the Protected Tactical SATCOM-Global military communications constellation. This advances Viasat's military satcom offerings and could lead to future government contracts.

    This is a new partnership that supports Viasat's defense business and technology roadmap.

Latest
▲4

ViaSat-3 constellation complete, cash flow positive, defense wins

  • ViaSat-3 F2 enters service, completing global constellation ViaSat-3 F2 entered service across the Americas, completing the ViaSat-3 constellation and tripling global bandwidth. This boosts Viasat's ability to serve aviation, maritime, government and broadband customers, supporting revenue growth and pricing power.

    This is the biggest new event, directly expanding Viasat's core capacity and service offerings.

  • Positive free cash flow and strong backlog Viasat reported positive free cash flow of $72 million, up 19%, and backlog rose 19% to $4.2 billion. Management expects about $180 million free cash flow for fiscal 2027, signaling improving financial health and ability to fund growth.

    This shows the company is generating cash and growing its order book, key for investor confidence.

  • Space Force awards $60M to break SpaceX monopoly Viasat was one of five companies awarded a $12 million contract to integrate with the Space Data Network, expanding its government business. This reduces reliance on SpaceX and opens new defense revenue streams.

    This is a new government contract win that diversifies Viasat's revenue and strengthens its defense segment.

  • Viasat selects Rocket Lab for secure satellite bus Viasat chose Rocket Lab to build a secure mini-GEO satellite bus for the Protected Tactical SATCOM-Global military communications constellation. This advances Viasat's military satcom offerings and could lead to future government contracts.

    This is a new partnership that supports Viasat's defense business and technology roadmap.

July 2026
▲3

Viasat Rises on Defense Wins, Patent Award, and M&A Speculation

  • Defense demand drives growth Viasat won a US Space Force contract to build a dual-band mini-GEO satellite, showing its key role in military satellite communications. Rising global defense spending boosts demand for its secure networks, pushing the stock up.

    This new contract directly adds to Viasat's backlog and confirms strong defense demand, a major growth driver.

  • Patent win adds cash A US jury found Kioxia infringed Viasat's patents and awarded $229 million in damages. This cash infusion strengthens Viasat's finances and validates its intellectual property, lifting the stock.

    The patent verdict is a new, concrete financial win that improves Viasat's cash position and sentiment.

  • Automotive satellite breakthrough Viasat demonstrated the first in-vehicle satellite voice call with BMW, using its L-band network. This opens a new market for connected cars, showing technology leadership and future revenue potential.

    The automotive demo highlights a new growth avenue and technological edge, supporting the bullish case.

  • M&A speculation and SpaceX pressure Viasat jumped 17% on speculation it could be acquired after Rocket Lab bought Iridium. But SpaceX's IPO has hurt smaller space stocks, including Viasat, as investors favor proven players. Consolidation hopes and competitive threats create mixed signals.

    This captures both the positive M&A buzz and the negative competitive impact from SpaceX, key forces behind recent price swings.

▲3

Viasat Rises on Defense Wins, Patent Award, and M&A Speculation

  • Defense demand drives growth Viasat won a US Space Force contract to build a dual-band mini-GEO satellite, showing its key role in military satellite communications. Rising global defense spending boosts demand for its secure networks, pushing the stock up.

    This new contract directly adds to Viasat's backlog and confirms strong defense demand, a major growth driver.

  • Patent win adds cash A US jury found Kioxia infringed Viasat's patents and awarded $229 million in damages. This cash infusion strengthens Viasat's finances and validates its intellectual property, lifting the stock.

    The patent verdict is a new, concrete financial win that improves Viasat's cash position and sentiment.

  • Automotive satellite breakthrough Viasat demonstrated the first in-vehicle satellite voice call with BMW, using its L-band network. This opens a new market for connected cars, showing technology leadership and future revenue potential.

    The automotive demo highlights a new growth avenue and technological edge, supporting the bullish case.

  • M&A speculation and SpaceX pressure Viasat jumped 17% on speculation it could be acquired after Rocket Lab bought Iridium. But SpaceX's IPO has hurt smaller space stocks, including Viasat, as investors favor proven players. Consolidation hopes and competitive threats create mixed signals.

    This captures both the positive M&A buzz and the negative competitive impact from SpaceX, key forces behind recent price swings.

Leidos Holdings Inc (LDOS)

Q3 2026
▲2▼2

Leidos wins big contracts but profit falls, pressuring stock

  • Major contract wins boost backlog Leidos secured a $301 million Army cyber contract and an $875 million Navy network option year, plus missile-defense sensor work, increasing its backlog and future revenue visibility.

    These large contract awards are new and directly support future growth, a key positive driver for the stock.

  • AI and cybersecurity expansion Leidos launched its Parcata AI cybersecurity platform, demonstrated tactical cyber detection, and formed partnerships with Mechanical Orchard, DHL, and CoreWeave to expand its federal AI and defense footprint.

    These new initiatives show Leidos advancing in high-growth technology areas, which can drive future revenue and investor optimism.

  • Profit decline despite revenue growth Q2 profit fell to $354 million from $391 million even as revenue grew 7.2% to $4.56 billion, signaling margin pressure that weighed on the stock.

    This is a new negative financial result that directly pressured the stock price during the period.

  • CoreWeave work contingent on future deals The CoreWeave partnership remains subject to future agreements and federal funding, creating uncertainty that tempers the positive impact of the AI expansion.

    This contingency is a new risk factor that could limit the benefits of the partnership, affecting investor confidence.

August 2026
▲3▼1

Leidos racks up defense and Navy contract wins as profit slips

  • Missile-defense sensor work expands Leidos was picked to supply infrared sensors for 18 missile-tracking satellites, building on earlier payloads already in orbit. More satellite payload work means more revenue from a fast-growing defense area, which supports the stock.

    New contract win that adds demand and shows Leidos' role in missile defense.

  • AI cloud partnership for classified work Leidos and CoreWeave teamed up to build secure AI cloud services for U.S. intelligence and defense agencies, handling classified workloads. This opens a new growth area in AI for government, a plus for future revenue.

    New partnership that points to a new source of demand.

  • Q2 profit falls despite higher sales Second-quarter profit dropped to $354 million from $391 million a year earlier, even as revenue rose 7.2% to $4.56 billion. Lower profit weighs on the stock, though the company still guided to full-year revenue of $18.2-18.4 billion.

    New earnings result showing a real counterweight to the contract wins.

  • Army cyber and Navy network awards add backlog Leidos won a $301 million Army cyber-defense contract and an $875 million Navy network option year, keeping over 650,000 personnel connected. These awards extend key relationships and add revenue visibility, supporting the stock.

    New contract wins that directly add backlog and demand.

Latest
▲3▼1

Leidos racks up defense and Navy contract wins as profit slips

  • Missile-defense sensor work expands Leidos was picked to supply infrared sensors for 18 missile-tracking satellites, building on earlier payloads already in orbit. More satellite payload work means more revenue from a fast-growing defense area, which supports the stock.

    New contract win that adds demand and shows Leidos' role in missile defense.

  • AI cloud partnership for classified work Leidos and CoreWeave teamed up to build secure AI cloud services for U.S. intelligence and defense agencies, handling classified workloads. This opens a new growth area in AI for government, a plus for future revenue.

    New partnership that points to a new source of demand.

  • Q2 profit falls despite higher sales Second-quarter profit dropped to $354 million from $391 million a year earlier, even as revenue rose 7.2% to $4.56 billion. Lower profit weighs on the stock, though the company still guided to full-year revenue of $18.2-18.4 billion.

    New earnings result showing a real counterweight to the contract wins.

  • Army cyber and Navy network awards add backlog Leidos won a $301 million Army cyber-defense contract and an $875 million Navy network option year, keeping over 650,000 personnel connected. These awards extend key relationships and add revenue visibility, supporting the stock.

    New contract wins that directly add backlog and demand.

July 2026
▲5

Leidos expands federal AI and defense logistics with new partnerships

  • Mainframe modernization partnership Leidos partnered with Mechanical Orchard to bring its Imogen platform to federal agencies, helping modernize aging mainframe systems. This expands Leidos' service offerings and could lead to new contracts, supporting revenue growth and a higher stock price.

    New partnership expands Leidos' federal IT modernization business, a potential growth driver.

  • UK defence logistics alliance with DHL Leidos and DHL formed an alliance to pursue the UK MoD's Future Defence Support Services contract. If won, this major logistics deal would add significant long-term revenue and strengthen Leidos' international defense footprint, pushing the stock up.

    New alliance targets a large UK defense contract, a clear potential catalyst for future revenue.

  • Tactical cyber detection demo Leidos successfully demonstrated its CRS cyber detection system during the Valiant Shield military exercise. This showcases a new capability for military cyber resilience, which could attract future defense contracts and enhance Leidos' reputation in cyber warfare.

    New technology demonstration validates Leidos' cyber offerings, potentially leading to new business.

  • AI cybersecurity platform Parcata launched Leidos launched Parcata, an AI-driven platform that autonomously detects and patches cyber vulnerabilities in real time. This new product under the NorthStar 2030 strategy could open new revenue streams and position Leidos as a leader in AI cybersecurity.

    New product launch signals innovation and potential future revenue growth.

  • CoreWeave partnership for classified AI Leidos partnered with CoreWeave to deliver secure AI cloud services for U.S. intelligence and defense agencies. Leidos will lead mission integration and security, expanding its federal contracting opportunities in AI. The work is subject to future agreements and federal funding.

    New partnership opens access to high-growth classified AI work, a potential long-term revenue driver.

▲5

Leidos expands federal AI and defense logistics with new partnerships

  • Mainframe modernization partnership Leidos partnered with Mechanical Orchard to bring its Imogen platform to federal agencies, helping modernize aging mainframe systems. This expands Leidos' service offerings and could lead to new contracts, supporting revenue growth and a higher stock price.

    New partnership expands Leidos' federal IT modernization business, a potential growth driver.

  • UK defence logistics alliance with DHL Leidos and DHL formed an alliance to pursue the UK MoD's Future Defence Support Services contract. If won, this major logistics deal would add significant long-term revenue and strengthen Leidos' international defense footprint, pushing the stock up.

    New alliance targets a large UK defense contract, a clear potential catalyst for future revenue.

  • Tactical cyber detection demo Leidos successfully demonstrated its CRS cyber detection system during the Valiant Shield military exercise. This showcases a new capability for military cyber resilience, which could attract future defense contracts and enhance Leidos' reputation in cyber warfare.

    New technology demonstration validates Leidos' cyber offerings, potentially leading to new business.

  • AI cybersecurity platform Parcata launched Leidos launched Parcata, an AI-driven platform that autonomously detects and patches cyber vulnerabilities in real time. This new product under the NorthStar 2030 strategy could open new revenue streams and position Leidos as a leader in AI cybersecurity.

    New product launch signals innovation and potential future revenue growth.

  • CoreWeave partnership for classified AI Leidos partnered with CoreWeave to deliver secure AI cloud services for U.S. intelligence and defense agencies. Leidos will lead mission integration and security, expanding its federal contracting opportunities in AI. The work is subject to future agreements and federal funding.

    New partnership opens access to high-growth classified AI work, a potential long-term revenue driver.

Q2 2026
▲3▼1

Leidos loses key health contract, wins new defense and space work

  • Defense Health Agency plans to replace Leidos on MHS GENESIS The Defense Health Agency intends to replace Leidos as lead integrator on the MHS GENESIS military health records program. This threatens a major, multi-year revenue stream and has triggered analyst downgrades, weighing on the stock as investors reassess future margins and growth.

    This is the biggest new negative catalyst, directly hitting Leidos' revenue and profit outlook.

  • Leidos wins four State Department Evolve awards Leidos secured four awards under the State Department's $10 billion Evolve contract to modernize IT systems for diplomats worldwide. This adds a new, large, multi-year revenue opportunity, helping offset the loss of the health records work and supporting future growth.

    This is a fresh, sizable contract win that provides a positive counterweight to the negative health program news.

  • Leidos deploys Joint Management Tool with DISA and Space Command Leidos deployed a cloud-based Joint Management Tool with DISA and U.S. Space Command, giving combatant commands real-time satellite communications visibility. This showcases Leidos' software and defense modernization capabilities, reinforcing its relevance in high-growth military communications work.

    It demonstrates Leidos' strength in software-heavy defense work, a key positive driver for future demand.

  • Leidos advances DARPA regenerative fuel cell prototype Leidos demonstrated a working regenerative fuel cell under DARPA's ExCURSion program, cycling up to 1,000 times. This positions Leidos in cutting-edge energy storage technology for the military, potentially opening new long-term revenue streams and enhancing its reputation for innovation.

    It highlights Leidos' R&D strength and potential for future contracts in a novel technology area.

June 2026
▲3▼1

Leidos loses key health contract, wins new defense and space work

  • Defense Health Agency plans to replace Leidos on MHS GENESIS The Defense Health Agency intends to replace Leidos as lead integrator on the MHS GENESIS military health records program. This threatens a major, multi-year revenue stream and has triggered analyst downgrades, weighing on the stock as investors reassess future margins and growth.

    This is the biggest new negative catalyst, directly hitting Leidos' revenue and profit outlook.

  • Leidos wins four State Department Evolve awards Leidos secured four awards under the State Department's $10 billion Evolve contract to modernize IT systems for diplomats worldwide. This adds a new, large, multi-year revenue opportunity, helping offset the loss of the health records work and supporting future growth.

    This is a fresh, sizable contract win that provides a positive counterweight to the negative health program news.

  • Leidos deploys Joint Management Tool with DISA and Space Command Leidos deployed a cloud-based Joint Management Tool with DISA and U.S. Space Command, giving combatant commands real-time satellite communications visibility. This showcases Leidos' software and defense modernization capabilities, reinforcing its relevance in high-growth military communications work.

    It demonstrates Leidos' strength in software-heavy defense work, a key positive driver for future demand.

  • Leidos advances DARPA regenerative fuel cell prototype Leidos demonstrated a working regenerative fuel cell under DARPA's ExCURSion program, cycling up to 1,000 times. This positions Leidos in cutting-edge energy storage technology for the military, potentially opening new long-term revenue streams and enhancing its reputation for innovation.

    It highlights Leidos' R&D strength and potential for future contracts in a novel technology area.

▲3▼1

Leidos loses key health contract, wins new defense and space work

  • Defense Health Agency plans to replace Leidos on MHS GENESIS The Defense Health Agency intends to replace Leidos as lead integrator on the MHS GENESIS military health records program. This threatens a major, multi-year revenue stream and has triggered analyst downgrades, weighing on the stock as investors reassess future margins and growth.

    This is the biggest new negative catalyst, directly hitting Leidos' revenue and profit outlook.

  • Leidos wins four State Department Evolve awards Leidos secured four awards under the State Department's $10 billion Evolve contract to modernize IT systems for diplomats worldwide. This adds a new, large, multi-year revenue opportunity, helping offset the loss of the health records work and supporting future growth.

    This is a fresh, sizable contract win that provides a positive counterweight to the negative health program news.

  • Leidos deploys Joint Management Tool with DISA and Space Command Leidos deployed a cloud-based Joint Management Tool with DISA and U.S. Space Command, giving combatant commands real-time satellite communications visibility. This showcases Leidos' software and defense modernization capabilities, reinforcing its relevance in high-growth military communications work.

    It demonstrates Leidos' strength in software-heavy defense work, a key positive driver for future demand.

  • Leidos advances DARPA regenerative fuel cell prototype Leidos demonstrated a working regenerative fuel cell under DARPA's ExCURSion program, cycling up to 1,000 times. This positions Leidos in cutting-edge energy storage technology for the military, potentially opening new long-term revenue streams and enhancing its reputation for innovation.

    It highlights Leidos' R&D strength and potential for future contracts in a novel technology area.

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