Company: SGBAF
Filing Date: 2025-04-23
Form Type: DRS/A
Source: 0000950123-25-003652
Chunk: 435

Company: SES S.A.
Filing Date: 2025-04-23
Form: DRS/A
Chunk 435
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 simultaneously receives and consumes benefits provided by the
Company for satellite related consulting and technical services, tracking, telemetry and commanding services (“TT&C”) and in-orbit backup services, as detailed below. Therefore, we believe that
the passage of time most faithfully reflects our satisfaction of the performance obligation for these services:

Satellite-Related Consulting and Technical Services. We recognize revenue from the provision of consulting services as those services are performed. We recognize revenue for consulting services with specific performance obligations, such as transfer orbit
support services or training programs over the service period.

TT&C. We earn TT&C services revenue from providing
operational services to other satellite owners and from certain customers on our satellites. TT&C agreements entered into in connection with our satellite utilization contracts are typically for the period of the related service agreement. We
recognize this revenue over the term of the service agreement.

In-OrbitBackup Services. We provide back-up transponder capacity that is held on reserve for certain customers on agreed-upon terms. We recognize revenues for in-orbit
protection services over the term of the related agreement.

Revenue Share Arrangements. We recognize revenues under revenue
share agreements for satellite-related services either on a gross or net basis in accordance with principal versus agent considerations.

Airline connectivity revenue.Connectivity is provided to our customers using both our air-to-ground (“ATG”) and satellite technologies. Under the airline-directed business model, the airline is our customer and we earn service revenue as connectivity services are consumed directly by
the airline or indirectly by passengers. Under the turnkey business model, we earn revenue for connectivity services consumed directly by passengers.

Entertainment revenue. Entertainment revenue consists of entertainment services we provide to the airline for use by its passengers.
Revenue is recognized as the services are provided to the airline.

Connected Aircraft Services. We recognize revenue for real-time
credit card transaction processing, electronic flight bags, and real-time weather information as the service is provided.

Equipment Revenue.Equipment revenue primarily consists of the sale of satellite connectivity and ATG equipment and the sale of entertainment equipment. Equipment revenue is recognized when we transfer control of the equipment to our customers, which
generally occurs upon shipment.

We occasionally sell products or services individually or in some combination to our customers. When
products or services are sold together, we allocate revenue for each performance obligation based on each obligation’s relative selling price. In these arrangements, revenue for products is recognized when the transfer of control passes to the
customer, while service revenue is recognized over the service term.