KVHI
KVH Industries, Inc.7.36
-0.08-1.08%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Light Q&A adds acquisition, margin details
Q&A stayed light with one analyst, largely reaffirming the LEO pivot and Asia-Pacific acquisition from prepared remarks. Management pegged the deal's net quarterly run-rate at $2.5 million, planning active conversions of its vessels to LEO services. The prior Starlink data pool depleted ahead of its 18-month term, signaling robust demand. Margins look steady despite a new terminal access charge pass-through, while hardware stays at breakeven to fuel airtime. First pool vanished early. No walk-backs; tone stayed confident on 2026 guidance. Investors will track LEO traction in the new base.
Key Stats
Market Cap
144.06MP/E (TTM)
-Basic EPS (TTM)
-0.62Dividend Yield
0%Recent Filings
8-K
Q4 revenue surges 13%
KVH Industries reported Q4 2025 revenue of $30.5 million, up 13% from $26.9 million in Q4 2024, driven by 27% service revenue growth to $28.3 million including $2.5 million from its October 8 Asia-Pacific acquisition; net income swung to $0.3 million from a $4.3 million loss. Full-year revenue dipped 2% to $111.0 million, yet adjusted EBITDA held flat at $8.1 million. Board hiked share repurchases to $15 million.
10-K
FY2025 results
KVH Industries posted FY2025 net sales of $111M, down 2% y/y, with services at 89% of revenue up 2% to $98M on LEO airtime growth—LEO hit over 30% of airtime vs <15% prior year—yet VSAT plunged from U.S. Coast Guard cuts and competition; products tanked 27% to $13M amid manufacturing wind-down. Q4 saw 52% product sales drop y/y and $5.5M inventory writedown from hardware demand slump, but ops cash surged to $17M positive. Repurchased $1.7M shares; $70M cash funds Starlink prepays. LEO shift accelerates, but VSAT minimums bit margins. Q4 decelerated hard. Inventory overhangs loom.
8-K
Q3 revenues dip, airtime up
KVH Industries reported Q3 2025 revenues of $28.5 million, down 2% year-over-year due to lower product sales, yet airtime revenue rose 3% to $23.5 million amid LEO service growth despite U.S. Coast Guard cuts. Subscriber vessels hit a record ~9,000, up 11% sequentially; net loss widened to $6.9 million from a $5.5 million inventory write-down. Property sale yielded $7.8 million net cash. Adjusted EBITDA fell to $1.4 million.
10-Q
Q3 FY2025 results
KVH's Q3 net sales dipped 2% y/y to $28.5M (derived), with service up 4% y/y to $25.4M on LEO growth yet product down 33% y/y to $3.1M amid manufacturing wind-down. Operating loss widened to $7.6M from $2.0M y/y, driven by $5.5M inventory write-down in product costs; net loss hit $6.9M or $(0.36) per share, consistent with 19.4M diluted shares. Cash swelled to $72.8M after $13.7M operating cash flow and $12.8M net proceeds from Rhode Island property sales. No debt. Manufacturing winds down by 2026. Competition from LEO services erodes VSAT demand.
8-K
KVH acquires Asia-Pacific assets
KVH Industries acquired customer and vendor agreements plus other assets from an Asia-Pacific satellite services provider on October 8, 2025, for $3.1 million, alongside $0.6 million in related inventory. This move bolsters KVH's maritime satellite distribution reach and customer footprint in the region, promising higher gross margins and earnings accretion. Ten seller employees received job offers; transition pacts ease the handover. Yet key agreements hinge on consents—lacking them risks subcontract snags and lost benefits.
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