Company: KVHI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001007587-25-000008
Chunk: 13

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 13
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 shares outstanding at March 31, 2025 and December 31, 2024, respectively212 212 Additional paid-in capital167,624 167,287 Accumulated deficit(14,462)(12,752)Accumulated other comprehensive loss(3,310)(4,032)150,064 150,715 Less: treasury stock at cost, common stock, 1,486,927 and 1,456,109 shares as of March 31, 2025 and December 31, 2024, respectively.(12,253)(12,090)Total stockholders’ equity137,811 138,625 Total liabilities and stockholders’ equity$151,434 $155,081 

See accompanying Notes to Unaudited Consolidated Financial Statements.3

KVH INDUSTRIES, INC. AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except earnings per share amounts, unaudited)

Three Months EndedMarch 31, 20252024Sales:Service$21,642 $25,038 Product3,772 4,229 Net sales25,414 29,267 Costs and expenses:Costs of service sales14,235 14,044 Costs of product sales3,740 5,308 Research and development1,187 3,038 Sales, marketing and support4,960 5,384 General and administrative3,535 5,291 Total costs and expenses27,657 33,065 Loss from operations(2,243)(3,798)Interest income567 911 Other expense, net(9)(198)Loss before income tax expense(1,685)(3,085)Income tax expense25 78 Net loss$(1,710)$(3,163)Net loss per common shareBasic$(0.09)$(0.16)Diluted$(0.09)$(0.16)Weighted average number of common shares outstanding:Basic19,492 19,286 Diluted19,492 19,286 

See accompanying Notes to Unaudited Consolidated Financial Statements.4

KVH INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(in thousands, unaudited)

Three Months Ended March 31, 20252024Net loss$(1,