Company: KVHI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001007587-25-000008
Chunk: 7

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 7
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1.7 million decrease in salaries, benefits and taxes, after giving effect to $0.8 million in costs incurred during the three months ended March 31, 2024 related to the reduction in our workforce. As a percentage of net sales, research and development expense was 5% and 10% for the three months ended March 31, 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 for the three months ended March 31, 2025 decreased by $0.4 million, or 8%, to $5.0 million from $5.4 million for the three months ended March 31, 2024. The decrease in sales, marketing and support expense resulted primarily from a $0.4 million decrease in salaries, benefits and taxes, after giving effect to $0.3 million in costs incurred during the three months ended March 31, 2024 related to the reduction in our workforce. As a percentage of net sales, sales, marketing and support expense was 20% and 18% for the three months ended March 31, 2025 and 2024, respectively.

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 March 31, 2025 decreased by $1.8 million, or 33%, to $3.5 million from $5.3 million for the three months ended March 31, 2024. The decrease in general and administrative expense resulted primarily from a $1.6 million decrease in salaries, benefits and taxes, after giving effect to $0.6 million in costs incurred during the three months ended March 31, 2024 related to the reduction in our workforce, and a $0.3 million decrease in depreciation expense. As a percentage of net sales, general and administrative expense was 14% and 18% for the three months ended March 31, 2025 and 2024, respectively.

Interest and Other Expense, Net

Interest income decreased by $0.3 million to