Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 172

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 172
---
 after giving effect to $0.3 million in costs incurred during the nine months ended September 30, 2024 related to the reduction in our workforce. In addition, there was a $0.6 million decrease in facilities expense allocated to our sales, marketing and support operations, partially offset by a $0.3 million increase in warranty expense and a $0.3 million increase in professional fees. As a percentage of net sales, sales, marketing and support expense was 19% and 18% for the nine months ended September 30, 2025 and 2024, respectively.

General and administrative expense for the nine months ended September 30, 2025 decreased by $2.4 million, or 18%, to $10.8 million from $13.2 million for the nine months ended September 30, 2024. The decrease in general and administrative expense resulted primarily from a $1.6 million decrease in salaries, benefits and taxes, after giving effect to $0.7 million in costs incurred during the nine months ended September 30, 2024 related to the reduction in our workforce, a $0.6 million decrease in depreciation expense, a $0.4 million decrease in professional fees and a $0.3 million decrease in dues and subscriptions expense, partially offset by a $0.7 million increase in facilities expense allocated to our general and administrative operations. As a percentage of net sales, general and administrative expense was 13% and 15% for the nine months ended September 30, 2025 and 2024, respectively.

Interest and Other Income (Expense), Net

Interest income decreased by $0.6 million to $1.8 million for the nine months ended September 30, 2025 from $2.4 million for the nine months ended September 30, 2024, primarily as a result of lower cash balances in 2025 as a result of the $17.0 million prepayment in June 2024 for access to a large block of Starlink Mobile Priority data at favorable rates. Of the current period interest income of $1.8 million, $1.5 million is attributable to interest earned on cash and cash equivalents, and $0.3 million was attributable to interest from lease receivables. Other income (expense), net changed by $1.2 million to other income, net of $0.8 million for the nine months ended September 30, 2025 from other