Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 212

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 212
---

     
    $
    238.0

    $
    271.7

    $
    (33.7
    )

    (12
    )%

The $33.7 million decrease in selling, general and administrative (SG&A) expenses was primarily due to lower support costs of $17.5 million and lower selling costs of $8.9 million, both of which were mainly in our communication services segment. The decrease in support costs reflects a reduction in our global workforce in November 2023 and related one-time costs included in the prior year period as we continue to integrate our business post-Inmarsat Acquisition and streamline our global operations. SG&A expenses are comprised primarily of personnel costs and expenses for business development, marketing and sales, bid and proposal, acquisition and transaction related expenses, facilities, finance, contract administration and general management.

Independent research and development 

    Three Months Ended

    Dollar

    Percentage

    (In millions, except percentages)
     
    December 31,2024

    December 31,2023

    Increase(Decrease)

    Increase(Decrease)

    Independent research and development
     
    $
    36.7

    $
    41.7

    $
    (5.0
    )

    (12
    )%

The $5.0 million decrease in independent research and development (IR&D) expenses was due to a $7.3 million decrease in our communication services segment (primarily related to narrowband and safety of communication capabilities), partially offset by a $2.3 million increase in our defense and advanced technologies segment (primarily related to advanced technologies and other). 

Amortization of acquired intangible assets 

We amortize our acquired intangible assets from prior acquisitions over their estimated useful lives, which range from two to 20 years. The $25.9 million decrease in amortization of acquired intangible assets in the third quarter of fiscal year 2025 compared to the prior year period was primarily related to the final valuation of certain acquired intangible assets completed in the first quarter of fiscal year 2025, within one year of the closing of the Inmarsat Acquisition as additional information was obtained.

Interest income 

The $3.2 million decrease in interest income for the three months ended December 31, 2024 compared to the prior year period was primarily due to lower interest earned as a result of a lower average invested balance in combination with lower interest rates.

Interest expense 

The $39.