Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 221

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 221
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 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)
     
    $
    168.6

    $
    115.9

    $
    52.7

    45
    %

    Percentage of segment revenues

    19
    %

    14
    %

The increase in our defense and advanced technologies segment operating profit was primarily due to higher earnings contributions of $52.8 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, as well as lower SG&A costs of $8.7 million. The increase in operating profit was partially offset by a $8.8 million increase in IR&D expenses (primarily related to tactical terrestrial networking and other advanced technologies products).

Backlog

Our firm and funded backlog as of December 31, 2024 is reflected in the table below.

    As of December 31, 2024

    (In millions)

    Firm backlog

    Communication services
     
    $
    2,616.2

    Defense and advanced technologies

    925.0

    Total
     
    $
    3,541.2

    Funded backlog

    Communication services
     
    $
    2,587.5

    Defense and advanced technologies

    782.6

    Total
     
    $
    3,370.1

The firm backlog does not include contract options. As of December 31, 2024, approximately half of the firm backlog is expected to be delivered during the next 12 months, with the balance delivered thereafter. We include in our backlog only those orders for which we have accepted purchase orders, and not anticipated purchase orders and requests. In our communication services segment, our backlog includes fixed broadband service revenues under our subscriber agreements, but does not include future recurring IFC service revenues under our agreements with commercial airlines. As of December 31, 2024, our IFC systems were 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). We