Company: KVHI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001007587-25-000012
Chunk: 78

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 78
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 in net cash provided by operations was primarily the result of an $17.3 million decrease in cash outflows related to prepaid expenses and current assets, which included the $17.0 million purchase of the Starlink data pool, a $6.4 million decrease in cash outflows relating to inventories, a $4.8 million decrease in net loss, a $2.4 million decrease in cash outflows relating to accrued compensation, product warranty and other expenses, and a $0.5 million increase in cash inflows relating to deferred revenue, partially offset by a $5.9 million increase in cash outflows related to accounts payable, a change of $3.8 million related to non-cash items, a $2.0 million decrease in cash inflows relating to accounts receivable, and a $0.3 million increase in cash outflows relating to other non-current assets.

Net cash provided by investing activities was $2.6 million for the six months ended June 30, 2025 compared to net cash provided by investing activities of $14.4 million for the six months ended June 30, 2024. The $11.8 million decrease in net cash provided by investing activities was primarily the result of a $19.6 million decrease in proceeds from net sales of marketable securities, which was driven by the liquidation of our marketable securities held by Wells Fargo in 2024, partially offset by proceeds of $4.9 million for the sale of 50 Enterprise Center, a $1.6 million decrease in capital expenditures and $1.2 million of proceeds from the sale of fixed assets. 

Net cash used in financing activities was $1.2 million for the six months ended June 30, 2025 compared to net cash provided by financing activities of $0.1 million for the six months ended June 30, 2024. The $1.3 million increase in net cash used in financing activities is primarily attributable to a $1.3 million increase in cash outflows related to the purchase of treasury stock and $0.1 million decrease in cash inflows relating to proceeds from the exercise of stock options and purchases under our employee stock purchase plan.

Other Matters

On December 9, 2024, our Board of Directors authorized a share repurchase program pursuant in which we may purchase outstanding shares of our common stock for an aggregate purchase price of up to $10 million.

Under the program, we, at management’s discretion, may repurchase shares