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ViaSat Inc. (VSAT-3.36%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements showing total revenues of $1.123 billion for the quarter, a slight decrease from $1.129 billion in the same quarter the previous year. Service revenues were $809 million, down from $825 million, while product revenues increased to $314 million from $303 million.
Cost of service revenues increased to $528 million, representing 65% of service revenues, compared to 62% in the same quarter of the previous year. This increase was due to lower margins in the communication services segment.
The company reported a gross profit of $362 million for the quarter, compared to $361 million in the previous year, with the slight increase attributed to improved margins in the defense and advanced technologies segment.
Selling, general, and administrative expenses decreased to $238 million from $272 million, primarily due to cost reductions following the integration of Inmarsat.
Net loss for the quarter was $147 million, compared to a loss of $119 million in the previous year. After adjustments, net loss attributable to ViaSat Inc. was $158 million, compared to $124 million in the previous year.
Cash provided by operating activities was $610 million for the nine months ended December 31, 2024, while cash used in investing and financing activities was $525 million and $436 million, respectively.
The company had a working capital of $1.3 billion as of December 31, 2024. The filing details the company's liquidity position, including $1.6 billion in cash and cash equivalents and no outstanding borrowings under its revolving credit facilities.
The filing also discusses the company's satellite-related activities, including the operational status of its satellite fleet and ongoing satellite projects.
ViaSat continues to focus on expanding its communication services and defense and advanced technologies segments, with a backlog of $3.5 billion as of December 31, 2024.
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 February 10, 2025. To report an error, please email earnings@qz.com.