Company: KVHI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001007587-25-000012
Chunk: 163

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 163
---
 months ended June 30, 2024. The decrease in research and development expense resulted primarily from a $2.8 million decrease in salaries, benefits and taxes, after giving effect to $1.1 million in costs incurred during the six months ended June 30, 2024 related to the reduction in our workforce. As a percentage of net sales, research and development expense was 4% and 9% for the six months ended June 30, 2025 and 2024, respectively.

Sales, marketing and support expense for the six months ended June 30, 2025 decreased by $0.7 million, or 7%, to $10.0 million from $10.7 million for the six months ended June 30, 2024. The decrease in sales, marketing and support expense resulted primarily from a $0.7 million decrease in salaries, benefits and taxes, after giving effect to $0.4 million in costs incurred during the six months ended June 30, 2024 related to the reduction in our workforce. In addition, there was a $0.3 million decrease in facilities expense and a $0.3 million decrease in expensed materials, partially offset by a $0.3 million increase in warranty expense. As a percentage of net sales, sales, marketing and support expense was 19% for both the six months ended June 30, 2025 and 2024.

General and administrative expense for the six months ended June 30, 2025 decreased by $2.3 million, or 25%, to $7.1 million from $9.4 million for the six months ended June 30, 2024. The decrease in general and administrative expense resulted primarily from a $2.1 million decrease in salaries, benefits and taxes, after giving effect to $0.9 million in costs incurred during the six months ended June 30, 2024 related to the reduction in our workforce, and a $0.5 million decrease in depreciation expense, partially offset by a $0.6 million increase in facilities expense. As a percentage of net sales, general and administrative expense was 14% and 16% for the six months ended June 30, 2025 and 2024, respectively.

Interest and Other Income (Expense), Net

Interest income decreased by $0.6 million to $1.1 million for the six months ended June 30, 2025 from $1.8 million for the six