Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 32

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 32
---
 $
     2,270,777

    Interest income The $12.3 million decrease in interest income for fiscal year 2025 compared to fiscal year 2024 was primarily due to the interest income received from a litigation settlement in the prior year period (see Note 15 — Contingencies to our consolidated financial statements) and the lower interest earned as a result of lower average invested balance in combination with lower interest rate.Interest expense The $21.5 million increase in interest expense in fiscal year 2025 compared to fiscal year 2024 was primarily the result of the effects of increased interest expense arising from our increased level of indebtedness following the closing of the Inmarsat Acquisition in May 2023 and the refinancing of certain debt at a higher interest rate. Income taxesThe income tax benefit in fiscal year 2025 primarily reflected the tax benefit from our loss before income taxes, partially offset by a valuation allowance recorded against our U.S. net deferred tax assets. The income tax benefit in fiscal year 2024 primarily reflected the tax benefit from our loss before income taxes, partially offset by a valuation allowance recorded against our U.S. net deferred tax assets. Our valuation allowance against deferred tax assets increased from $353.6 million at March 31, 2024 to $430.5 million at March 31, 2025. The valuation allowance relates to federal, state, and foreign net operating loss carryforwards, federal and state R&D tax credit carryforwards and foreign tax credit carryforwards. 

57

Segment Results for Fiscal Year 2025 Compared to Fiscal Year 2024 Communication Services SegmentRevenues  

     Fiscal Years Ended

     Dollar

     Percentage

     (In millions, except percentages)
      
     March 31, 2025

     March 31, 2024

     Increase(Decrease)

     Increase(Decrease)

     Segment service revenues
      
     $
     3,022.3

     $
     2,798.5

     $
     223.8

     8
     %

     Segment product revenues

     276.1

     343.0

     (66.9
     )

     (20
     )%

     Total segment revenues
      
     $
     3,298.5

     $
     3,141.5

     $
     156.9

     5
     %
    
    Our communication services segment revenues increased by $