Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 78

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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.S. statutory rate despite a valuation allowance recorded against our U.S. net deferred tax assets primarily due to the impacts of purchase price allocation adjustments with respect to the Inmarsat Acquisition recorded in the quarter.

51

Segment Results for the Three Months Ended December 31, 2024 vs. Three Months Ended December 31, 2023

Communication services segment

Revenues 

    Three Months Ended

    Dollar

    Percentage

    (In millions, except percentages)
     
    December 31,2024

    December 31,2023

    Increase(Decrease)

    Increase(Decrease)

    Segment service revenues
     
    $
    759.0

    $
    772.4

    $
    (13.4
    )

    (2
    )%

    Segment product revenues

    61.4

    102.5

    (41.1
    )

    (40
    )%

    Total segment revenues
     
    $
    820.3

    $
    874.9

    $
    (54.5
    )

    (6
    )%

Our communication services segment revenues decreased by $54.5 million due to a $41.1 million decrease in product revenues and a $13.4 million decrease in service revenues. The decrease in segment product revenues was primarily due to decreases of $27.4 million in aviation products due to accelerated IFC terminal deliveries in the prior year period, $11.4 million in government satcom products and $3.1 million in fixed services and other products, mainly driven by enterprise and energy. The decrease in segment service revenues was primarily due to a $48.8 million decrease in fixed services and other (primarily related to fixed broadband services) and a $11.2 million decrease in maritime services. The decrease in segment service revenues was partially offset by a $27.9 million increase in aviation services and a $18.7 million increase in government satcom services. 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