Company: VSAT
Filing Date: 2025-05-27
Form Type: 10-K
Source: 0000950170-25-077138
Chunk: 45

Company: VIASAT INC
Filing Date: 2025-05-27
Form: 10-K
Item: Item 6
Chunk 45
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 years 2025 and 2024 was $390.0 million and $229.0 million, respectively.Cash used in investing activities for fiscal year 2025 was $758.4 million compared to $1.3 billion for fiscal year 2024. This $532.8 million decrease in cash used in investing activities year-over-year reflected a decrease of $509.2 million in cash used for capital expenditures as well as the $342.6 million in cash (net of cash acquired) used for the Inmarsat Acquisition in fiscal year 2024, partially offset by a $257.1 million decrease in cash receipts related to satellite insurance claim proceeds year-over-year. Cash used in financing activities for fiscal year 2025 was $442.6 million compared to cash provided by financing activities of $1.1 billion for fiscal year 2024. Cash used in financing activities in fiscal year 2025 was primarily comprised of debt repayments of $2.4 billion, partially offset by proceeds from debt borrowings of $2.0 billion (which primarily related to the repurchase and refinancing of the Inmarsat 2026 Notes). Cash provided by financing activities in fiscal year 2024 was primarily comprised of proceeds from debt borrowings of approximately $1.7 billion primarily incurred in connection with the Inmarsat Acquisition, partially offset by debt repayments of $567.0 million. See Note 8 — Senior Notes and Other Long-Term Debt for further information. Capital Expenditures and IR&D InvestmentsCapital expenditures in fiscal year 2025 of $1.0 billion were 33% lower than fiscal year 2024, reflecting efforts to continue to optimize our capital expenditures as we integrate our businesses and prioritize our investments. Our total capital expenditures in fiscal year 2026 may be slightly higher compared to fiscal year 2025, due to timing, however we expect to continue to manage investments in our business as a whole and remain committed to meaningfully reducing aggregate capital expenditures as part of our Inmarsat integration strategy and as satellites currently under construction are completed. See Note 14 — Commitments to our consolidated financial statements for information as of March 31, 2025 regarding our future minimum payments under our satellite construction contracts and other satellite-related purchase commitments (including satellite performance incentive obligations relating to the ViaSat-1 and ViaSat-2 satellites) for the next five fiscal years and thereafter. We also incur IR&D expenses, which are not directly funded by a third party. IR&D