Company: KVHI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001007587-25-000012
Chunk: 138

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 138
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 respectively, in outstanding stock options and non-vested restricted shares from its diluted loss per share calculation, as inclusion of these convertible securities would have reduced the net loss per share.

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A reconciliation of the basic and diluted weighted average common shares outstanding is as follows: Three Months EndedSix Months Ended June 30,June 30, 2025202420252024Weighted average common shares outstanding—basic19,401 19,381 19,446 19,333 Dilutive common shares issuable in connection with stock plans40 — — — Weighted average common shares outstanding—diluted19,441 19,381 19,446 19,333 

(7)     Inventories

Inventories are stated at the lower of cost or net realizable value using the first-in first-out costing method. Inventories as of June 30, 2025 and December 31, 2024 include the costs of material, labor, and factory overhead. Components of inventories consist of the following:June 30,2025December 31,2024Raw materials$13,651 $15,379 Work in process2,176 2,469 Finished goods4,431 5,105 $20,258 $22,953 

(8)     Prepaid Expenses and Other Current Assets

June 30,2025December 31,2024Prepaid Starlink pooled data$8,331 $14,137 Other prepaid expenses and other current assets5,296 1,879 $13,627 $16,016 During the second quarter of 2024, KVH expanded its relationship with Starlink through a bulk data distribution agreement. Under the agreement, KVH prepaid for access to a large block of Starlink Global Priority data at favorable rates. The new agreement offers KVH increased flexibility in the development and sales of custom, cost-effective airtime plans using Starlink’s Global Priority service. KVH began drawing from this prepaid pooled data in the third quarter of 2024.

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(9)     Property and Equipment

Property and equipment, net, as of June 30, 2025 and December 31, 2024 consist of the following:June 30,2025December 31,2024Leasehold improvements342 336 Machinery and equipment5,842 6,021 Revenue