Company: VSAT
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016993
Chunk: 86

Company: VIASAT INC
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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 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 anticipate that approximately 1,570 additional commercial aircraft will be put into service with our IFC systems under existing customer agreements with commercial airlines. Due to the nature of commercial airline contracts and other factors such as OEM delays, there can be no assurance that all anticipated purchase orders and requests will be placed or that anticipated IFC services will be activated on all such additional commercial aircraft.

Our total new awards which exclude future revenue under recurring consumer commitment arrangements were approximately $1.1 billion and $3.5 billion for the three and nine months ended December 31, 2024, respectively, compared to approximately $1.2 billion and $3.0 billion for the three and nine months ended December 31, 2023, respectively.

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Backlog is not necessarily indicative of future sales. A majority of our contracts can be terminated