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ViaSat Inc. (VSAT+2.16%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports a decrease in total revenues to $1,122.3 million from $1,225.4 million in the same quarter the previous year. Product revenues decreased by 19% to $323.9 million, and service revenues decreased by 3% to $798.3 million.
Cost of product revenues decreased by 4% to $243.5 million, while cost of service revenues increased by 4% to $531.6 million.
Selling, general and administrative expenses decreased significantly to $272.4 million from $1,149.0 million, primarily due to the absence of satellite impairment charges recorded in the prior year.
Independent research and development expenses remained flat at $33.4 million.
Amortization of acquired intangible assets decreased to $66.0 million from $81.4 million.
The company reported a net loss of $121.8 million for the quarter, compared to a net loss of $765.8 million in the previous year. The net loss attributable to ViaSat, Inc. was $137.6 million, compared to $767.2 million in the previous year.
Cash provided by operating activities was $390.3 million, while cash used in investing activities was $332.3 million. Cash provided by financing activities was $1,569.0 million.
ViaSat Inc. ended the quarter with $3.5 billion in cash and cash equivalents and $1.5 billion in working capital.
The company announced the redemption of its Inmarsat 2026 Notes subsequent to the quarter end, using proceeds from the issuance of the Inmarsat 2029 Notes.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the ViaSat Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.