Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 39

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 39
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2023 (which contributed to a $1,363.4 million increase in segment service revenues) and a $160.5 million increase in aviation service revenues (reflecting a continued increase in both the number of commercial aircraft receiving our in-flight services through IFC systems and passenger air traffic), partially offset by an expected decrease in revenues from fixed services and other as we continued to allocate a greater proportion of our bandwidth to our IFC business in preference to our U.S. fixed 

61

services business due to bandwidth constraints. The increase in segment product revenues was primarily attributable to a $72.5 million contribution from the Inmarsat Acquisition.Segment operating profit (loss) 

     Fiscal Years Ended

     Dollar

     Percentage

     (In millions, except percentages)
      
     March 31, 2024

     March 31, 2023

     (Increase)Decrease

     (Increase)Decrease

     Segment operating profit (loss)
      
     $
     (817.1
     )
      
     $
     (189.4
     )
      
     $
     (627.7
     )

     (331
     )%

     Percentage of segment revenues

     (26
     )%

     (11
     )%

    The increase in our communication services segment operating loss was primarily due to the recording of satellite impairment and related charges, net of estimated insurance claim receivables of approximately $905.5 million in fiscal year 2024, as described above, as well as a $239.4 million increase in SG&A costs and a $5.4 million increase in IR&D expenses (primarily related to the inclusion of expenses related to the Inmarsat business for the period following the Inmarsat Acquisition). The increase in our segment operating loss was partially offset by higher earnings contributions of $522.7 million, mainly due to an increase in segment service revenues as a result of the Inmarsat Acquisition and improved margins in our aviation services as they continued to scale.Defense and advanced technologies segment Revenues 

     Fiscal Years Ended

     Dollar

     Percentage

     (In millions, except percentages)
      
     March 31, 2024

     March 31, 2023

     Increase(Decrease)

     Increase(Decrease)

     Segment service revenues
      
     $
     206.1

     $
     166.4

     $
     39.7

     24
     %