Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 149

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 149
---
 revenues

          244,771

          696,403

          941,174

          Total revenues
           
          $
          2,281,675

          $
          852,070

          $
          3,133,745

         Revenues from the U.S. Government as an individual customer comprised approximately 20% and 18% of total revenues for the three and nine months ended December 31, 2024, respectively, and approximately 17% of total revenues for both the three and nine months ended December 31, 2023. Revenues from the U.S. Government are attributable to each of the communication services segment and defense and advanced technologies segment, with approximately half of such revenues reported within each of these two segments for the three and nine months ended December 31, 2024 and 2023.The Company’s revenues are primarily derived from two types of contracts: fixed-price and cost-reimbursement contracts. Fixed-price contracts (which require the Company to provide products and services under a contract at a specified price), comprised approximately 96% of the Company’s total revenues for both the three and nine months ended December 31, 2024, and approximately 96% and 95% of the Company’s total revenues for the three and nine months ended December 31, 2023, respectively, a majority of which are reported in the Company's communication services segment. The remainder of the Company’s revenues for such periods was derived primarily from cost-reimbursement contracts (under which the Company is reimbursed for all actual costs incurred in performing the contract to the extent such costs are within the contract ceiling and allowable under the terms of the contract, plus a fee or profit), which contracts are mainly reported within the Company's defense and advanced technologies segment.

12

VIASAT, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(UNAUDITED) 

Historically, a significant portion of the Company’s revenues has been derived from customer contracts that include the development of products. The development efforts are conducted in direct response to the customer’s specific requirements and, accordingly, expenditures related to such efforts are included in cost of sales when incurred and the related funding (which includes a profit component) is included in revenues. Revenues for the Company’s funded development from its customer contracts were approximately 11% and 12% of its total revenues for the three and nine months ended December 31, 2024,