Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 220

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 8
Chunk 220
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 change in our communication services segment operating loss to an operating profit was primarily due to the recording of satellite impairment and related charges, net of estimated insurance claim receivables of approximately $905.5 million in the prior year period, as described above, as well as higher earnings contributions of $16.6 million, mainly due to increased service revenues as a result of the Inmarsat Acquisition. The change in our communication services segment operating loss to an operating profit was also attributable to lower IR&D expenses of $4.3 million (primarily related to next-generation consumer broadband integrated networking technologies), partially offset by an increase of $35.5 million in SG&A expenses (reflecting the inclusion of three full quarters of Inmarsat SG&A costs in the current year period compared to only seven months of SG&A costs in the prior year period).

Defense and advanced technologies segment

Revenues 

    Nine Months Ended

    Dollar

    Percentage

    (In millions, except percentages)
     
    December 31,2024

    December 31,2023

    Increase(Decrease)

    Increase(Decrease)

    Segment service revenues
     
    $
    154.9

    $
    155.7

    $
    (0.8
    )

    —
    %

    Segment product revenues

    744.1

    696.4

    47.7

    7
    %

    Total segment revenues
     
    $
    899.0

    $
    852.1

    $
    46.9

    6
    %

55

Our defense and advanced technologies segment revenues increased by $46.9 million due to a $47.7 million increase in product revenues, partially offset by a $0.8 million decrease in service revenues. The increase in segment product revenues was primarily due to a $92.5 million increase in tactical networking products (mostly related to tactical terrestrial networking products), as well as a $17.4 million increase in information security and cyber defense. The increase in segment product revenues was partially offset by lower contributions from certain licensing agreements in advanced technologies and other in the current year period (see Note 9 — Commitments and Contingencies to our condensed consolidated financial statements for more information). The decrease in segment service revenues was primarily due to a $5.5 million decrease in information security and cyber defense, partially offset by a $4.1 million increase in space and mission systems.

Segment operating