Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 14

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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 purchase price, with periodic payments continuing over the course of the contract period. Our funding plans for our working capital needs and other commitments may be adversely impacted if our underlying assumptions regarding our anticipated revenues and expenses are not realized. If our operating results fail to meet our expectations, we could be required to seek additional funding through public or private financings or other arrangements. In that event, adequate funds may not be available when needed or may be available only on terms which could have a negative impact on our business and results of operations. In addition, if we raise funds by issuing equity securities, our stockholders may experience dilution.

Net cash generated in operations was $13.7 million for the nine months ended September 30, 2025 compared to net cash used in operations of $13.6 million for the nine months ended September 30, 2024. The $27.3 million change in net cash provided by operations was primarily the result of a $23.0 million decrease in cash outflows related to prepaid expenses and current assets, which included the $17.0 million purchase of the Starlink data pool in 2024, a $15.7 million decrease in cash outflows relating to inventories, a $5.7 million decrease in cash outflows relating to accrued compensation, product warranty and other expenses, and a $0.5 million increase in cash inflows relating to deferred revenue, partially offset by a $7.0 million reduction in non-cash items, a $5.7 million increase in cash outflows related to accounts payable, a $3.6 million decrease in cash inflows relating to accounts receivable, a $1.0 million increase in net loss, and a $0.4 million decrease in cash inflows relating to other non-current assets.

Net cash provided by investing activities was $9.8 million for the nine months ended September 30, 2025 compared to net cash provided by investing activities of $16.5 million for the nine months ended September 30, 2024. The $6.7 million decrease in net cash provided by investing activities was primarily the result of a $23.1 million decrease in proceeds from net sales of marketable securities, which was driven by the liquidation of our marketable securities held by Wells Fargo in 2024, partially offset by proceeds of $7.8 million for the sale of 75 Enterprise Center, proceeds of $4.9 million for the sale of 50 Enterprise Center, a $2.