Company: KVHI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001007587-25-000012
Chunk: 36

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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ITEM 1.    Financial Statements

KVH INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS 

(in thousands, except share and per share amounts)

June 30, 2025December 31, 2024ASSETS(unaudited)Current assets:Cash and cash equivalents$55,931 $50,572 Accounts receivable, net of allowance for credit losses of $987 and $1,006 as of June 30, 2025 and December 31, 2024, respectively25,350 21,624 Inventories20,258 22,953 Prepaid expenses and other current assets 13,627 16,016 Current assets held for sale7,833 11,410 Total current assets122,999 122,575 Property and equipment, net24,071 27,014 Intangible assets, net636 828 Right of use assets1,275 1,361 Other non-current assets2,919 3,146 Deferred income tax asset141 157 Total assets$152,041 $155,081 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$3,231 $4,316 Accrued airtime993 745 Accrued compensation and employee-related expenses2,991 4,728 Accrued loss on future firm purchase commitments— 919 Accrued other2,172 2,134 Accrued product warranty costs828 607 Deferred revenue1,459 1,039 Current operating lease liability651 660 Liability for uncertain tax positions767 724 Total current liabilities13,092 15,872 Long-term operating lease liability562 569 Deferred income tax liability3 15 Total liabilities$13,657 $16,456 Commitments and contingencies (Notes 2, 11, and 16)Stockholders’ equity:Preferred stock, $0.01 par value. Authorized 1,000,000 shares; none issued— — Common stock, $0.01 par value. Authorized 30,000,000 shares; 21,223,892 and 21,240,525 shares issued at June 30, 2025 and December 31, 2024, respectively; and 19,525,435 and 19,784,416 shares outstanding