Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 219

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 219
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8

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Our communication services segment revenues increased by $191.8 million due to a $236.6 million increase in service revenues, partially offset by a $44.7 million decrease in product revenues. The increase in segment service revenues was primarily due to the Inmarsat Acquisition in May 2023. The Inmarsat Acquisition contributed approximately $321.7 million to the increase in service revenues in our communication services segment, as a result of three full quarters of contribution compared to only seven months in the prior year period coupled with higher revenues contributed by Inmarsat in the current year period. The inclusion of three full quarters from Inmarsat, the Inmarsat revenue increase and growth in our aviation services were partially offset by an expected decrease in revenues from fixed services and other as we continued to allocate a greater proportion of our bandwidth to our IFC business in preference to our U.S. fixed services business due to bandwidth constraints. The IFC service revenue increase was driven primarily by the increase in the number of commercial aircraft and business jets receiving our in-flight services through our IFC systems, with our IFC systems installed and in service on approximately 4,030 commercial aircraft (of which approximately 80 were inactive at quarter end, mostly due to standard aircraft maintenance) and approximately 2,000 business jets as of December 31, 2024, compared to approximately 3,540 commercial aircraft (of which approximately 40 were inactive at quarter end mostly due to standard aircraft maintenance) and approximately 1,700 business jets as of December 31, 2023. The decrease in segment product revenues was primarily driven by a $41.6 million decrease in aviation products due to accelerated IFC terminal deliveries in the prior year period and a $14.2 million decrease in government satcom products, partially offset by a $10.6 million increase in fixed and other products, mainly driven by enterprise and energy.

Segment operating profit (loss)

    Nine Months Ended

    Dollar

    Percentage

    (In millions, except percentages)
     
    December 31,2024

    December 31,2023

    Increase(Decrease)

    Increase(Decrease)

    Segment operating profit (loss)
     
    $
    85.8

    $
    (805.1
    )
     
    $
    890.9

    111
    %

    Percentage of segment revenues

    3
    %

    (35
    )%

The