Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 90

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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 limited to, cash on hand, borrowing capacity, and cash expected to be provided by operating activities.

Cash flows 

Cash provided by operating activities for the first nine months of fiscal year 2025 was $609.7 million compared to $456.2 million in the prior year period. This $153.5 million increase was driven by our operating results (net income (loss) adjusted for depreciation, amortization and other non-cash charges) which resulted in $165.4 million of higher cash provided by operating activities year-over-year, partially offset by a $11.9 million year-over-year increase in cash used to fund net operating assets. The increase in cash used to fund net operating assets during the first nine months of fiscal year 2025 when compared to the prior year period was primarily due to the timing of deferred revenue recognized under certain long-term contracts (including acquired through the Inmarsat Acquisition) in our communication services segment. Cash paid for income taxes, net, during the first nine months of fiscal year 2025 and 2024 were $174.6 million and $176.4 million, respectively. Cash paid for interest (net of amounts capitalized) during the first nine months of fiscal year 2025 and 2024 were $271.0 million and $179.9 million, respectively.

Cash used in investing activities for the first nine months of fiscal year 2025 was approximately $524.9 million compared to $1.5 billion in the prior year period. This $927.0 million decrease in cash used in investing activities year-over-year reflects decreases of $379.0 million in cash used for capital expenditures, $342.6 million in cash (net of cash acquired) used for the Inmarsat Acquisition in the first quarter of fiscal year 2024 and $240.0 million of cash receipts related to satellite insurance claim proceeds received during the first nine months of fiscal year 2025.

Cash used in financing activities for the first nine months of fiscal year 2025 was approximately $435.9 million compared to cash provided by financing activities of $1.2 billion for the prior year period. Cash used in financing activities in the first nine months of fiscal year 2025 was primarily comprised of debt repayments of $2.4 billion, partially offset by proceeds from debt borrowings of $2.0 billion (which primarily related to the repurchase and refinancing of the Inmarsat 2026 Notes). Cash provided by financing activities in the first nine months of fiscal