Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 38

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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ITEM 1.    Financial Statements

KVH INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS 

(in thousands, except share and per share amounts)

September 30, 2025December 31, 2024ASSETS(unaudited)Current assets:Cash and cash equivalents$72,804 $50,572 Accounts receivable, net of allowance for credit losses of $833 and $1,006 as of September 30, 2025 and December 31, 2024, respectively24,302 21,624 Inventories13,394 22,953 Prepaid expenses and other current assets 9,200 16,016 Current assets held for sale— 11,410 Total current assets119,700 122,575 Property and equipment, net22,295 27,014 Intangible assets, net537 828 Right of use assets4,636 1,361 Other non-current assets2,972 3,146 Deferred income tax asset141 157 Total assets$150,281 $155,081 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$4,012 $4,316 Accrued airtime1,365 745 Accrued compensation and employee-related expenses4,253 4,728 Accrued loss on future firm purchase commitments— 919 Accrued other2,105 2,134 Accrued product warranty costs754 607 Deferred revenue1,346 1,039 Current operating lease liability591 660 Liability for uncertain tax positions788 724 Total current liabilities15,214 15,872 Long-term operating lease liability4,017 569 Deferred income tax liability3 15 Total liabilities$19,234 $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; 21,293,839 and 21,240,525 shares issued at September 30, 2025 and December 31, 2024, respectively; and 19,573,517 and 19,784,416