Press release
Viasat Announces New Reporting Segment Structure
CARLSBAD, Calif., July 25, 2024 /PRNewswire/ -- Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today outlined additional
About this update from Viasat, Inc.
[{"type":"text","content":"CARLSBAD, Calif., July 25, 2024 /PRNewswire/ -- Viasat, Inc. (NASDAQ: VSAT), a global leader in satellite communications, today outlined additional information about its new segment reporting structure commencing with the quarter ended June 30, 2024. The new segment reporting is designed to better reflect the diverse and attractive end markets the company serves and to provide investors greater insight into Viasat's business lines and growth opportunities.\n\nCommencing with its first quarter of fiscal year 2025, the company will report its financial results based on two new reportable segments: Communication Services and Defense and Advanced Technologies.\nCommunication Services is comprised of four primary business lines: Aviation, Government Satcom, Maritime, and Fixed and Other.The Communication Services segment provides a wide range of broadband and narrowband communications solutions across government and commercial mobility markets, as well as for fixed and residential broadband customers. These solutions include nose-to-tail connectivity for commercial airlines and business jet customers, including our market-leading passenger Wi-Fi services. In commercial maritime, marketed under the Inmarsat Maritime brand, solutions support vessel operation, navigation, crew connectivity and safety services, and include the new NexusWave fully managed connectivity service. In the government market, Viasat offers highly trusted and secure interconnectivity solutions for defense and civilian government customers. Additionally, within this segment Viasat develops and offers a wide array of advanced satellite and wireless products, and networks and terminal solutions that support or enable the provision of fixed and mobile broadband and narrowband services.Defense and Advanced Technologies is comprised of four primary business lines: Information Security and Cyber Defense, Space and Mission Systems, Tactical Networking, and Advanced Technologies and Other.The Defense and Advanced Technologies segment provides a diverse set of resilient, vertically integrated solutions, leveraging core technical competencies in encryption, cyber security, tactical gateways, modems and waveforms, to government and commercial customers. The Information Security and Cyber Defense business line offers high-quality encryption products that ensure data security,...