Viasat vs. EchoStar: Stability vs. Gradual Declines in Revenue
Key Points
Viasat demonstrates greater long-term top-line stability, though EchoStar currently generates significantly higher overall revenue totals.
Over the last eight quarters, Viasat maintained highly consistent quarter-over-quarter totals, whereas EchoStar experienced a steady downward trend across its reporting periods.
Investors analyzing these historical trends should carefully watch whether the absolute revenue gap between the two companies continues to slowly narrow in upcoming quarters.
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Viasat: Maintaining Consistent Revenue
Viasat(NASDAQ:VSAT)primarily generates revenue by providing global fixed broadband services, commercial in-flight entertainment networking, and secure satellite communications solutions to enterprise and government customers worldwide.
It advanced a connectivity agreement with Boeing and prepared for a satellite launch, reporting an approximately 2% net income margin for the quarter ended Dec. 31, 2025.
EchoStar: Managing a Top-Line Slide
EchoStar (NASDAQ:SATS) earns revenue by delivering broadband network technologies, telecommunications gateway equipment, and managed satellite connectivity solutions to broadcast news organizations and enterprise clients globally.
It secured an aviation connectivity agreement and updated its wireless data plans, while reporting an approximately -21% EBIT margin for the quarter ended Dec. 31, 2025, amid a channel carriage dispute.
Why Revenue Matters for Retail Investors
Revenue here refers to the data provider's standardized income-statement revenue line item, and evaluating this metric matters because it measures the foundational sales a business generates before any expenses are deducted.
Quarterly Revenue for Viasat and EchoStar
| Quarter (Period End) | Viasat Revenue | EchoStar Revenue |
|---|---|---|
| Q1 2024 | $1.2 billion (period ended March 2024) | $4.0 billion (period ended March 2024) |
| Q2 2024 | $1.1 billion (period ended June 2024) | $4.0 billion (period ended June 2024) |
| Q3 2024 | $1.1 billion (period ended Sept. 2024) | $3.9 billion (period ended Sept. 2024) |
| Q4 2024 | $1.1 billion (period ended Dec. 2024) | $4.0 billion (period ended Dec. 2024) |
| Q1 2025 | $1.1 billion (period ended March 2025) | $3.9 billion (period ended March 2025) |
| Q2 2025 | $1.2 billion (period ended June 2025) | $3.7 billion (period ended June 2025) |
| Q3 2025 | $1.1 billion (period ended Sept. 2025) | $3.6 billion (period ended Sept. 2025) |
| Q4 2025 | $1.2 billion (period ended Dec. 2025) | $3.8 billion (period ended Dec. 2025) |
Data source: Company filings.
Foolish Take
Viasat and Echostar are both space stocks. Specifically, they both provide satellite connectivity. Over the last few years, Viasat’s annual revenue has increased nearly 6%, while Echostar’s annual revenue has declined by about 12%.
Nonetheless, both companies’ stocks have prospered. Viasat stock has increased by a very respectable 76% over the last three years, equating to a compound annual growth rate (CAGR) of 20.6%. Echostar stock, meanwhile, has soared by an eye-popping 604%, with an incredible CAGR of 91.4%.
Yet, despite these amazing returns, investors should know that a competitive threat is on the horizon: SpaceX.
That company, which operates satellite-based broadband services, could challenge both Viasat and Echostar’s business models. Indeed, both Echostar and Viasat have already requested that the Federal Communications Commission (FCC) reject Starlink upgrades, on the basis that SpaceX’s plans to operate thousands of additional satellites will create interference for their own space-based equipment.
At any rate, the space industry remains a red-hot sector, which will undoubtedly attract the interest of growth-oriented investors. In turn, investors would be wise to keep an eye on Echostar and Viasat.
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Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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