Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 121

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 2
Chunk 121
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 increase in our defense and advanced technologies segment operating profit was primarily due to higher earnings contributions of $31.2 million, primarily driven by increased revenues and improved margins in tactical networking products (mostly related to tactical terrestrial networking products) with a higher mix of our product revenues associated with our royalty and licensing agreements versus hardware and other product related revenues, and lower SG&A expenses of $2.0 million (mostly related to selling, and bid and proposal costs), partially offset by higher IR&D expenses of $2.3 million (primarily related to other advanced technologies).

Nine Months Ended December 31, 2024 vs. Nine Months Ended December 31, 2023 

Revenues 

    Nine Months Ended

    Dollar

    Percentage

    (In millions, except percentages)
     
    December 31,2024

    December 31,2023

    Increase(Decrease)

    Increase(Decrease)

    Service revenues
     
    $
    2,428.4

    $
    2,192.6

    $
    235.8

    11
    %

    Product revenues

    944.1

    941.2

    2.9

    —
    %

    Total revenues
     
    $
    3,372.5

    $
    3,133.7

    $
    238.7

    8
    %

Our total revenues increased by $238.7 million as a result of a $235.8 million increase in service revenues and a $2.9 million increase in product revenues. The increase in service revenues was due to a $236.6 million increase in our communication services segment, partially offset by a $0.8 million decrease in our defense and advanced technologies segment. The increase in product revenues was due to a $47.7 million increase in our defense and advanced technologies segment, partially offset by a $44.7 million decrease in our communication services segment.

Cost of revenues

    Nine Months Ended

    Dollar

    Percentage

    (In millions, except percentages)
     
    December 31,2024

    December 31,2023

    Increase(Decrease)

    Increase(Decrease)

    Cost of service revenues
     
    $
    1,576.0

    $
    1,374.9

    $
    201.1

    15
    %

    Cost of product revenues