Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 157

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 157
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 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. The Company did not incur restructuring charges in the three and nine months ended September 30, 2025 related to the staged wind-down of the Company's manufacturing activities. 

(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 nine months ended September 30, 2025 and 2024 consisted of the following:

22

Three Months EndedNine Months EndedSeptember 30,September 30,2025202420252024Sales:Service$25,388 $24,410 $70,079 $74,122 Product3,065 4,561 10,411 12,789 Net Sales28,453 28,971 80,490 86,911 Cost of service salesVSAT airtime10,471 13,144 31,214 39,767 LEO airtime5,547 1,340 12,095 3,154 Other (1)676 499 1,830 1,575 16,694 14,983 45,139 44,496 Cost of product salesVSAT514 834 1,698 1,816 LEO1,591 1,585 4,179 4,335 TracVision & land mobile302 742 1,622 2,685 Other (2)7,439 1,553 9,364 5,485 9,846 4,714 16,863 14,321 Research and developmentPersonnel costs796 1,074 2,568 5,666 Professional fees26 44 77 168 Other (3)