Company: KVHI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001007587-25-000008
Chunk: 60

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 8
Chunk 60
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 approximately $3.6 million of cash charges and approximately $0.3 million of non-cash charges arising from pre-existing contractual obligations to accelerate vesting of certain outstanding equity compensation awards. For the aggregate severance charges of approximately $3.9 million, the Company recorded in its consolidated statement of operations $0.9 million in cost of product sales, $1.4 million in research and development, $0.7 million in sales, marketing and support, and $0.8 million in general and administrative.

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(18)     Segment Information

The Company manages its operations as a single operating segment for the purpose of assessing performance and making operating decisions, resulting in a single reportable segment. The Company has determined that its Chief Operating Decision Maker (CODM) is its Chief Executive Officer. The CODM reviews the Company’s financial information on a consolidated basis for the purpose of allocating resources and assessing financial performance.The key measure of segment profit or loss that the CODM uses to allocate resources and assess performance is the Company’s consolidated net income (loss). This is reviewed against budgeted expectations to assess segment performance and allocate resources. The Company’s segment net income for the three months ended March 31, 2025 and 2024 consisted of the following:

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Three Months EndedMarch 31,20252024Sales:Service$21,642 $25,038 Product3,772 4,229 Net Sales25,414 29,267 Cost of service salesVSAT airtime11,196 13,207 LEO airtime2,545 507 Other (1)49433014,235 14,044 Cost of product salesVSAT595 620 LEO1,455 1,272 TracVision & land mobile620 1,067 Other (2)1,070 2,349 3,740 5,308 Research and developmentPersonnel costs951 2,606 Professional fees38 88 Other (3)198 344 1,187 3,038 Sales, marketing and supportPersonnel costs3,231 3,583 Professional fees220 167 Other (4)1,509 1,634 4,960 5,384 General and administrativePersonnel costs1,878 3,460 Professional fees636 590 Other (5)1,021 1,241 3