Company: KVHI
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001007587-25-000003
Chunk: 9

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 9
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 Commitments and contingencies (Notes 1, 5, 12 and 13)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, 21,240,525 and 21,066,899 shares issued at December 31, 2024 and December 31, 2023, respectively; and 19,784,416 and 19,610,790 shares outstanding at December 31, 2024 and December 31, 2023, respectively212 211 Additional paid-in capital167,287 165,140 Accumulated deficit(12,752)(1,704)Accumulated other comprehensive loss(4,032)(4,185)150,715 159,462 Less: treasury stock at cost, common stock, 1,456,109 shares as of December 31, 2024 and December 31, 2023, respectively(12,090)(12,090)Total stockholders’ equity138,625 147,372 Total liabilities and stockholders’ equity$155,081 $172,634 

See accompanying Notes to Consolidated Financial Statements.41

KVH INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

 Year Ended December 31, 20242023Sales:Service$96,446 $114,622 Product17,382 17,757 Net sales113,828 132,379 Costs and expenses:Costs of service sales60,002 65,362 Costs of product sales18,607 29,149 Research and development8,439 9,399 Sales, marketing and support21,013 20,925 General and administrative16,513 18,899 Goodwill impairment charge— 5,333 Long-lived assets impairment charge1,137 657 Total costs and expenses125,711 149,724 Loss from operations(11,883)(17,345)Interest income3,039 3,646 Interest expense2 1 Other expense, net(1,781)(1,404)Loss before income tax expense(10,627)(15,104)Income tax expense421 318