# EDGAR Filing Document

**Accession Number:** 0001007587
**File Stem:** 0001007587-26-000012
**Filing Date:** 2026-5
**Character Count:** 20062
**Document Hash:** 51d5a960880790a53dec7f8c8cc7e5bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001007587-26-000012.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001007587-26-000012

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20260506

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KVH INDUSTRIES INC \DE\
- **CENTRAL INDEX KEY:** 0001007587
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMUNICATION SERVICES, NEC [4899]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 050420589
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35843
- **FILM NUMBER:** 26946095

**BUSINESS ADDRESS:**
- **STREET 1:** 500 WOOD STREET
- **STREET 2:** UNIT 320, 1ST FL
- **CITY:** BRISTOL
- **STATE:** RI
- **BUSINESS PHONE:** 4018473327

**MAIL ADDRESS:**
- **STREET 1:** 500 WOOD STREET
- **STREET 2:** UNIT 320, 1ST FL
- **CITY:** BRISTOL
- **STATE:** RI

?xml version='1.0' encoding='ASCII'? kvhi-20260506

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): May 6, 2026**

**KVH Industries, Inc.**

**(Exact Name of Registrant as Specified in Charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **0-28082** | **05-0420589** |
| **(State or Other Jurisdiction of Incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)**  |

---

**500 Wood Street, Unit 320, Bristol, RI 02809**

*(Address of Principal Executive Offices) (Zip Code)*

**(401) 847-3327**

(Registrant's Telephone Number, Including Area Code)

**75 Enterprise Center, Middletown, RI 02842**

*(Former name or former address, if changed since last report)*

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

*Securities registered pursuant to Section 12(b) of the Act:*

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Each Exchange on which Registered** |
|  |  | The Nasdaq Stock Market LLC |
| Common Stock, par value $0.01 per share | KVHI | (Nasdaq Global Select Market) |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

&nbsp;&nbsp;&nbsp;&nbsp; Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION**

On May 6, 2026, we issued a press release announcing our financial results for the first quarter ended March 31, 2026. The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information in this Item 2.02 of Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (or the Securities Act), or the Exchange Act, regardless of any general incorporation language in such filing.

**ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Exhibits

---

| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| 99.1 | May 6, 2026 press release entitled "KVH Industries Reports First Quarter 2026 Results" (furnished pursuant to Item 2.02) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| | **KVH INDUSTRIES, INC.** | **KVH INDUSTRIES, INC.** |
| Date: May 6, 2026 | BY: | /s/&nbsp;&nbsp;&nbsp;&nbsp;Anthony F. Pike |
| | | **Anthony F. Pike** |
| | | **Chief Financial Officer** |

---

------

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit<br>No.** | **Description** |
| <u>[99.1](q12026exhibit991.htm)</u> | May 6, 2026 press release entitled "KVH Industries Reports First Quarter 2026 Results" (furnished pursuant to Item 2.02) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

## Exhibit 99.1

**Exhibit 99.1**

**FOR IMMEDIATE RELEASE**

---

| | |
|:---|:---|
| **Contact:** | KVH Industries, Inc.<br>Anthony Pike<br>401-847-3327<br>IR@kvh.com |

---

**KVH Industries Reports First Quarter 2026 Results**

**BRISTOL, RI,** May 6, 2026 — KVH Industries, Inc. (Nasdaq: KVHI), reported financial results for the quarter ended March 31, 2026 today. The company will hold a conference call to discuss these results at 9:00 a.m. ET today, which can be accessed at investors.kvh.com. Following the call, a replay of the webcast will be available through the company's website.

**First Quarter 2026 Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total revenues in the first quarter of 2026 increased sequentially from the fourth quarter of 2025 by $1.8 million, or 6%, to $32.3 million. Total revenues increased by 27% in the first quarter of 2026 from $25.4 million in the first quarter of 2025, due to a $6.5 million increase in service sales and a $0.4 million increase in product sales.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• As expected, due to seasonality, service revenue decreased sequentially from the fourth quarter of 2025 by $0.1 million, or less than 1%, to $28.2 million in the first quarter of 2026. Service revenue increased by $6.5 million, or 30%, in the first quarter of 2026 compared to the first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We completed the migration of our Rhode Island operations from Middletown, Rhode Island to our new facility in Bristol, Rhode Island.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net income in the first quarter of 2026 was $0.6 million, or $0.03 per share, compared to a net loss of $1.7 million, or $0.09 per share, in the first quarter of 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Non-GAAP adjusted EBITDA was $2.8 million in the first quarter of 2026, compared to $1.0 million in the first quarter of 2025.

Commenting on the company's first quarter results, Brent C. Bruun, KVH's Chief Executive Officer, said, "The LEO market continues to expand, and our first-quarter results demonstrate that KVH is well positioned to capitalize on this trend. Strong Starlink adoption has driven record connectivity unit shipments and sustained subscriber growth, underscoring the strength of our multi-orbit platform and the confidence our customers place in KVH."

------

**Financial Highlights -** *(in millions, except per share data)*

---

| | | |
|:---|:---|:---|
| | **Three Months Ended** | **Three Months Ended** |
| | **March 31,** | **March 31,** |
| | **2026** | **2025** |
| **GAAP Results** |  |  |
| Revenue | $32.3 | $25.4 |
| Loss from operations | $(0.1) | $(2.2) |
| Net income (loss) | $0.6 | $(1.7) |
| Net income (loss) per share | $0.03 | $(0.09) |
| **Non-GAAP Adjusted EBITDA** | $2.8 | $1.0 |

---

**First Quarter Financial Summary**

Revenue was $32.3 million for the first quarter of 2026, an increase of 27% compared to $25.4 million in the first quarter of 2025.

Service revenues for the first quarter were $28.2 million, an increase of $6.5 million compared to the first quarter of 2025. The increase in service sales was primarily due to a $6.2 million increase in our airtime service sales, which reflected a substantial increase in LEO service sales driven by an increase in subscribers for both Starlink and OneWeb. This increase in LEO service sales was partially offset by a substantial decrease in VSAT service sales, which was driven primarily by a decrease in VSAT subscribers. For the three months ended March 31, 2026, LEO service sales represented over 45% of airtime service sales, as compared to less than 30% for the three months ended March 31, 2025. The increase in LEO service sales as a percentage of total airtime sales resulted from both the substantial increase in LEO service sales and the substantial decrease in VSAT service sales. Competing LEO service providers have continued to expand their product and service offerings, further heightening competition in the global leisure segment and in commercial and government markets.

Product revenues for the first quarter were $4.2 million, an increase of 10% compared to the first quarter of 2025. The increase in product sales was primarily due to a $0.7 million increase in OneWeb product sales and a $0.3 million increase in Starlink product sales, partially offset by a $0.5 million decrease in TracVision product sales and a $0.3 million decrease in VSAT Broadband product sales. Competition from low-cost alternatives to VSAT, which include streaming capabilities, has had a significant impact on sales of our TracVision products.

Our operating expenses remained flat period-over-period at $9.7 million for both the first quarter of 2026 and 2025, primarily due to a $0.1 million decrease in warranty expense, a $0.1 million decrease in dues and subscriptions expense and a $0.1 million decrease in facilities expense, offset by a $0.2 million increase in salaries, benefits and taxes and a $0.2 million increase in computer software and maintenance expenses.

**Other Recent Announcement**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• March 23, 2026 – MOL Chemical Tankers Signs Up for KVH Link

**Conference Call Details**

KVH Industries will host a conference call today at 9:00 a.m. ET through the company's website. The conference call can be accessed at investors.kvh.com and listeners are welcome to submit questions pertaining to the earnings release and conference call to ir@kvh.com. The audio archive will be available on the company website within three hours of the completion of the call.

------

**Non-GAAP Financial Measures**

This release provides non-GAAP financial information as a supplement to our condensed consolidated financial statements, which are prepared in accordance with generally accepted accounting principles ("GAAP"). Management uses these non-GAAP financial measures internally in analyzing financial results to assess operational performance. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared in accordance with GAAP. The non-GAAP financial measures used in this press release adjust for specified items that can be highly variable or difficult to predict. Management generally uses these non-GAAP financial measures to facilitate financial and operational decision-making, including evaluation of our historical operating results and comparison to competitors' operating results. These non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with GAAP results and the reconciliations to corresponding GAAP financial measures, may provide a more complete understanding of factors and trends affecting our business.

Some limitations of non-GAAP adjusted EBITDA include the following: non-GAAP adjusted EBITDA represents net income (loss) before, as applicable, interest income, net, income tax expense (benefit), depreciation, amortization, stock-based compensation expense, goodwill impairment charges, long-lived assets impairment charges, charges for disposal of discontinued projects, loss on unfavorable future contracts, employee termination and other variable costs, executive separation costs, prior period tax settlements, transaction-related and other variable legal and advisory fees, certain inventory write-downs, excess purchase order obligations, gains on sales of real estate and other fixed assets, gains and losses on sale of subsidiaries, and foreign exchange transaction gains and losses.

Other companies, including companies in KVH's industry, may calculate these non-GAAP financial measures differently or not at all, which will reduce their usefulness as a comparative measure.

Because non-GAAP financial measures exclude the effect of items that increase or decrease our reported results of operations, management strongly encourages investors to review our consolidated financial statements and publicly filed reports in their entirety. Reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the tables accompanying this release.

**About KVH Industries, Inc.**

KVH Industries, Inc. is a global leader in maritime and mobile connectivity delivered via the KVH ONE network. The company, founded in 1982, is based in Bristol, RI, with more than a dozen offices around the globe. KVH provides connectivity solutions for commercial maritime, leisure marine, military/government, and land mobile applications on vessels and vehicles, including the TracNet, TracPhone, and TracVision product lines, the KVH ONE OpenNet Program for non-KVH antennas, AgilePlans Connectivity as a Service (CaaS), and the KVH Link crew wellbeing content service.

______________________________________________________________________________________________________

------

KVH Industries, Inc., has used, registered, or applied to register its trademarks in the USA and other countries around the world, including but not limited to the following marks: KVH, KVH ONE, TracPhone, TracVision, AgilePlans, CommBox, and TracNet. Other trademarks are the property of their respective companies.

------

**KVH INDUSTRIES, INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**

***(in thousands, except per share amounts, unaudited)***

---

| | | |
|:---|:---|:---|
| | **Three months ended March 31,** | **Three months ended March 31,** |
| | **2026** | **2025** |
| **Sales:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service | $28154 | $21642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Product | 4164 | 3772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net sales** | 32318 | 25414 |
| **Costs and expenses:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costs of service sales | 18359 | 14235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costs of product sales | 4400 | 3740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Research and development | 726 | 1187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales, marketing and support | 5069 | 4960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative | 3882 | 3535 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total costs and expenses** | 32436 | 27657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Loss from operations** | (118) | (2243) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | 595 | 567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (6) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income (expense), net | 230 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income tax expense | 713 | (1685) |
| Income tax expense | 125 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income (loss)** | $**588** | $**(1710)** |
| **Net income (loss) per common share** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $**0.03** | $**(0.09)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $**0.03** | $**(0.09)** |
| **Weighted average number of common shares outstanding:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | **19331** | **19492** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | **19427** | **19492** |

---

------

**KVH INDUSTRIES, INC. AND SUBSIDIARIES**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

***(in thousands, unaudited)***

---

| | | |
|:---|:---|:---|
| | **March 31,<br>2026** | **December 31,<br>2025** |
| **ASSETS** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $59153 | $69910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 28812 | 25049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 13224 | 14859 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses and other current assets | 19884 | 7980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | **121073** | **117798** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property and equipment, net | 22221 | 22032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 732 | 732 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets, net | 3520 | 3717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Right of use assets | 4230 | 4382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other non-current assets | 2188 | 2237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax asset | 601 | 602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**154565** | $**151500** |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | $16771 | $14968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred revenue | 1974 | 1155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current operating lease liability | 627 | 547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | **19372** | **16670** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term operating lease liability | 3661 | 3841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax liability | 5 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stockholders' equity | 131527 | 130984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity** | $**154565** | $**151500** |

---

------

**KVH INDUSTRIES, INC. AND SUBSIDIARIES**

**RECONCILIATION OF GAAP NET INCOME (LOSS) TO NON-GAAP**

**EBITDA AND NON-GAAP ADJUSTED EBITDA**

***(in thousands, unaudited)***

---

| | | |
|:---|:---|:---|
| | **Three months ended March 31,** | **Three months ended March 31,** |
| | **2026** | **2025** |
| **Net income (loss) - GAAP** | $**588** | $**(1710)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | 125 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income, net | (601) | (567) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 2445 | 2888 |
| **Non-GAAP EBITDA** | **2557** | **636** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 306 | 337 |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee termination and other variable costs | 3 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on sale of fixed assets | (16) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange transaction (gain) loss | (76) | 31 |
| **Non-GAAP adjusted EBITDA** | $**2774** | $**1007** |

---