Company: KVHI
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001007587-25-000003
Chunk: 11

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 11
---
1,456)$(12,090)$147,372 Net loss— — — (11,048)— — — (11,048)Other comprehensive income— — — — 153 — — 153 Stock-based compensation— — 2,027 — — — — 2,027 Issuance of common stock under employee stock purchase plan27 — 109 — — — — 109 Exercise of stock options and issuance of restricted stock awards, net of forfeitures147 1 11 — — — — 12 Balance at December 31, 202421,241 $212 $167,287 $(12,752)$(4,032)(1,456)$(12,090)$138,625 

See accompanying Notes to Consolidated Financial Statements.44

KVH INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

 Year Ended December 31, 20242023Cash flows from operating activities:Net loss$(11,048)$(15,422)Adjustments to reconcile net loss to net cash (used in) provided by operating activities:Provision for credit losses217 64 Depreciation and amortization13,298 13,438 Impairment charge to goodwill and long-lived assets1,137 5,990 Deferred income taxes113 (51)Loss on disposals of fixed assets1,220 2,476 Compensation expense related to stock-based awards and employee stock purchase plan2,027 2,078 Unrealized currency translation loss (gain)188 (179)Changes in operating assets and liabilities:Accounts receivable3,812 1,719 Inventories(3,908)3,686 Prepaid expenses and other current assets(11,661)(1,231)Other non-current assets333 1,425 Accounts payable(446)(15,648)Deferred revenue(728)377 Accrued compensation, product warranty and other(7,724)3,808 Net cash (used in) provided by operating activities$(13,170)$2,530 Cash flows from investing activities:Capital expenditures(7,417)(10,633)Cash paid for acquisition of intangible assets(74)(1,296)Proceeds from the