Company: KVHI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001007587-25-000008
Chunk: 15

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 of restricted stock awards, net of forfeitures114 1 11 — — — — 12 Balance at March 31, 202421,205 $212 $165,768 $(4,867)$(3,956)(1,456)$(12,090)$145,067 

See accompanying Notes to Unaudited Consolidated Financial Statements.6

KVH INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited) 

Three Months Ended March 31, 20252024Cash flows from operating activities:Net loss$(1,710)$(3,163)Adjustments to reconcile net loss to net cash used in operating activities:Provision for credit losses97 54 Depreciation and amortization2,888 3,247 Deferred income taxes46 36 (Gain) loss on disposals of fixed assets(27)683 Compensation expense related to stock-based awards and employee stock purchase plan337 522 Unrealized currency translation loss726 241 Changes in operating assets and liabilities:Accounts receivable(1,650)(355)Inventories971 (44)Prepaid expenses and other current assets(351)100 Other non-current assets144 328 Accounts payable(964)2,184 Deferred revenue734 400 Accrued compensation, product warranty and other(2,518)(5,025)Net cash used in operating activities$(1,277)$(792)Cash flows from investing activities:Capital expenditures(1,149)(2,399)Cash paid for acquisition of intangible asset(43)(10)Proceeds from sale of fixed assets635 — Purchases of marketable securities— (720)Maturities and sales of marketable securities— 4,000 Net cash (used in) provided by investing activities$(557)$871 Cash flows from financing activities:Proceeds from stock options exercised and employee stock purchase plan1 96 Purchase of treasury stock(163)— Net cash (used in) provided by financing activities$(162)$96 Effect of exchange rate changes on cash and cash equivalents24 (28)Net (decrease) increase in cash and cash equivalents(1,972)147 Cash and cash equivalents at beginning of period50,572 11,294 Cash and cash equivalents at end of period$48