Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 54

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 this prepaid pooled data in the third quarter of 2024. This block of data is expected to be fully consumed by the end of the fourth quarter of 2025. KVH anticipates that it will purchase another, substantially larger block of Starlink Global Priority data in the fourth quarter of 2025.

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(9)     Property and Equipment

Property and equipment, net, as of September 30, 2025 and December 31, 2024 consist of the following:September 30,2025December 31,2024Leasehold improvements340 336 Machinery and equipment2,071 6,021 Revenue-generating assets58,971 61,380 Office and computer equipment7,334 10,561 Motor vehicles— 31 68,716 78,329 Less accumulated depreciation(46,421)(51,315)$22,295 $27,014 Depreciation expense was $2,525 and $3,163 for the three months ended September 30, 2025 and 2024, respectively, and $7,809 and $9,947 for the nine months ended September 30, 2025 and 2024, respectively.Certain revenue-generating hardware assets are utilized by the Company in the delivery of the Company's airtime services, media and other content.As of September 30, 2025 and December 31, 2024, the long-lived tangible assets related to the Company’s international subsidiaries were less than 10% of the Company’s long-lived tangible assets.In the third quarter of 2024, the Company commenced its plan to sell the warehouse building and surface parking lot located at 75 Enterprise Center in Middletown, Rhode Island (“75 Enterprise Center”). As of September 30, 2024, 75 Enterprise Center had a carrying value of approximately $7.8 million. The Company determined that all of the criteria to classify 75 Enterprise Center as held for sale had been met as of September 30, 2024. The estimated fair value was determined based upon the anticipated sales price of these assets based on current market conditions and assumptions made by management, less selling costs. The Company recorded an impairment charge of $1.1 million during the three and nine months ended September 30, 2024, as the carrying value of 75 Enterprise Center at the time the asset for sale criteria were met exceeded the fair value less costs to sell