Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 8

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 8
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 3% and 5% for the three months ended September 30, 2025 and 2024, respectively.

Sales, marketing, and support expense consists primarily of salaries and related expenses for sales and marketing personnel, commissions for both in-house and third-party representatives, costs related to the co-development of certain content, other sales and marketing support costs such as advertising, literature and promotional materials, product service personnel and support costs, warranty-related costs and bad debt expense. Sales, marketing and support expense also includes the operating expenses of our sales office subsidiaries in Denmark, Singapore, Brazil, and Japan. Sales, marketing and support expense for the three months ended September 30, 2025 decreased by less than $0.1 million, or 1%, to $4.9 million for the three months ended September 30, 2024. The decrease in sales, marketing and support expense resulted primarily from a $0.3 million decrease in facilities expense, partially offset by a $0.2 million increase in expensed materials. As a percentage of net sales, sales, marketing and support expense was 17% for both the three months ended September 30, 2025 and 2024.

General and administrative expense consists of costs attributable to management, finance and accounting, information technology, human resources, certain outside professional services, and other administrative costs. General and administrative expense for the three months ended September 30, 2025 decreased by $0.1 million, or 3%, to $3.7 million from $3.8 million for the three months ended September 30, 2024. The decrease in general and administrative expense resulted primarily from a $0.4 decrease in professional fees and a $0.3 million decrease in dues and subscriptions expense. These decreases were partially offset by a $0.5 million increase in salaries, benefits and taxes. As a percentage of net sales, general and administrative expense was 13% for both the three months ended September 30, 2025 and 2024.

Interest and Other Income, Net

Interest income represents interest earned on our cash and cash equivalents, as well as from investments and our sale-type lease receivables. Interest income increased by $0.1 million to $0.7 million for the three months ended September 30, 2025 from $0.6 million for the three months ended September 30, 2024, primarily as a result of higher cash balances in 2025. Of the current period