Company: KVHI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001007587-25-000012
Chunk: 57

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 57
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 net sales.The Company operates in a number of major geographic areas, including internationally. Revenues from international locations primarily include Singapore, Canada, South American countries, European Union countries and other European countries, and countries in Africa, the Middle East and Asia/Pacific, including India. Revenues are based upon customer location, and revenues from international locations represented 78% and 71% of consolidated net sales for the three months ended June 30, 2025 and 2024, respectively, and 79% and 72% of consolidated net sales for the six months ended June 30, 2025 and 2024, respectively. Sales to Singapore customers represented 21% and 20% of the Company's consolidated net sales for the three months ended June 30, 2025 and 2024, respectively. No other individual foreign country represented 10% or more of the Company's consolidated net sales for the three months ended June 30, 2025 or 2024. Sales to Singapore customers represented 22% and 21% of the Company's consolidated net sales for the six months ended June 30, 2025 and 2024, respectively. No other individual foreign country represented 10% or more of the Company's consolidated net sales for the six months ended June 30, 2025 or 2024.Business and Credit ConcentrationsConcentrations of risk with respect to trade accounts receivable are generally limited due to the large number of customers and their dispersion across several geographic areas. Although the Company does not foresee that credit risk associated with these receivables will deviate from historical experience, repayment is dependent upon the financial stability of those individual customers. The Company establishes allowances for credit losses and evaluates, on a monthly basis, the adequacy of those reserves based upon expected losses, historical experience and its expectation for future collectability concerns.One customer accounted for 12% and 11% of consolidated net sales for the six months ended June 30, 2025 and 2024, respectively. No other customers accounted for 10% or more of consolidated net sales for the six months ended June 30, 2025 and 2024. One customer accounted for approximately 20% and 19% of accounts receivable at June 30, 2025 and December 31, 2024, respectively. One customer accounted for 35% and 45% of long-term accounts receivable included in other non-current assets on the consolidated balance sheets related to