KVH Industries Reports Fourth Quarter and Full Year 2024 Results
KVH Industries (NASDAQ: KVHI) reported its Q4 and full-year 2024 results, showing a 14% decrease in total revenues to $26.9 million in Q4 2024 compared to $31.5 million in Q4 2023. The company posted a Q4 net loss of $4.3 million ($0.22 per share), an improvement from the $12.2 million loss ($0.63 per share) in Q4 2023.
Notable highlights include:
- Airtime revenue declined 20% to $20.8 million in Q4
- Non-GAAP adjusted EBITDA was $0.5 million, down from $2.3 million
- Shipped over 1,000 Starlink terminals in Q4
- Achieved 2,300 Starlink activations in 2024
For 2025, KVH projects revenue between $115-125 million and adjusted EBITDA of $9-15 million. The company's subscriber base increased by 4% in Q4, with CommBox Edge activations doubling and achieving a fourth consecutive quarter of record terminal shipments.
KVH Industries (NASDAQ: KVHI) ha riportato i risultati del quarto trimestre e dell'intero anno 2024, mostrando una diminuzione del 14% delle entrate totali a 26,9 milioni di dollari nel Q4 2024 rispetto ai 31,5 milioni di dollari nel Q4 2023. L'azienda ha registrato una perdita netta di 4,3 milioni di dollari nel Q4 ($0,22 per azione), un miglioramento rispetto alla perdita di 12,2 milioni di dollari ($0,63 per azione) nel Q4 2023.
I punti salienti includono:
- Le entrate da airtime sono diminuite del 20% a 20,8 milioni di dollari nel Q4
- Il EBITDA rettificato non-GAAP è stato di 0,5 milioni di dollari, in calo rispetto ai 2,3 milioni di dollari
- Spediti oltre 1.000 terminali Starlink nel Q4
- Raggiunti 2.300 attivazioni Starlink nel 2024
Per il 2025, KVH prevede ricavi tra 115 e 125 milioni di dollari e un EBITDA rettificato di 9-15 milioni di dollari. La base di abbonati dell'azienda è aumentata del 4% nel Q4, con le attivazioni di CommBox Edge raddoppiate e raggiungendo il quarto trimestre consecutivo di spedizioni record di terminali.
KVH Industries (NASDAQ: KVHI) reportó sus resultados del cuarto trimestre y del año completo 2024, mostrando una disminución del 14% en los ingresos totales a 26.9 millones de dólares en el Q4 2024 en comparación con 31.5 millones de dólares en el Q4 2023. La compañía registró una pérdida neta de 4.3 millones de dólares ($0.22 por acción), una mejora respecto a la pérdida de 12.2 millones de dólares ($0.63 por acción) en el Q4 2023.
Los aspectos destacados incluyen:
- Los ingresos por airtime disminuyeron un 20% a 20.8 millones de dólares en el Q4
- El EBITDA ajustado no-GAAP fue de 0.5 millones de dólares, en comparación con 2.3 millones de dólares
- Se enviaron más de 1,000 terminales Starlink en el Q4
- Se lograron 2,300 activaciones de Starlink en 2024
Para 2025, KVH proyecta ingresos entre 115 y 125 millones de dólares y un EBITDA ajustado de 9-15 millones de dólares. La base de suscriptores de la compañía aumentó un 4% en el Q4, con las activaciones de CommBox Edge duplicándose y logrando el cuarto trimestre consecutivo de envíos récord de terminales.
KVH Industries (NASDAQ: KVHI)는 2024년 4분기 및 전체 연도 결과를 발표하며, 2024년 4분기 총 수익이 3,150만 달러에서 2,690만 달러로 14% 감소했다고 보고했습니다. 회사는 4분기에 430만 달러($0.22 per share)의 순손실을 기록했으며, 이는 2023년 4분기의 1,220만 달러($0.63 per share) 손실에서 개선된 수치입니다.
주요 하이라이트는 다음과 같습니다:
- 4분기 airtime 수익이 20% 감소하여 2,080만 달러에 달했습니다.
- 비-GAAP 조정 EBITDA는 50만 달러로, 230만 달러에서 감소했습니다.
- 4분기에 1,000개 이상의 Starlink 단말기를 배송했습니다.
- 2024년에 2,300개의 Starlink 활성화를 달성했습니다.
2025년을 위해 KVH는 1억 1,500만 달러에서 1억 2,500만 달러 사이의 수익과 900만 달러에서 1,500만 달러 사이의 조정 EBITDA를 예상하고 있습니다. 회사의 구독자 기반은 4분기에 4% 증가했으며, CommBox Edge 활성화가 두 배로 증가하고 연속 4분기 동안 기록적인 단말기 배송을 달성했습니다.
KVH Industries (NASDAQ: KVHI) a publié ses résultats pour le quatrième trimestre et l'année complète 2024, montrant une diminution de 14 % des revenus totaux à 26,9 millions de dollars au T4 2024 par rapport à 31,5 millions de dollars au T4 2023. L'entreprise a enregistré une perte nette de 4,3 millions de dollars (0,22 $ par action) au T4, une amélioration par rapport à la perte de 12,2 millions de dollars (0,63 $ par action) au T4 2023.
Les points saillants incluent :
- Les revenus d'aire de temps ont diminué de 20 % pour atteindre 20,8 millions de dollars au T4
- Le EBITDA ajusté non-GAAP était de 0,5 million de dollars, en baisse par rapport à 2,3 millions de dollars
- Plus de 1 000 terminaux Starlink ont été expédiés au T4
- 2 300 activations Starlink ont été réalisées en 2024
Pour 2025, KVH prévoit des revenus compris entre 115 et 125 millions de dollars et un EBITDA ajusté de 9 à 15 millions de dollars. La base d'abonnés de l'entreprise a augmenté de 4 % au T4, avec des activations de CommBox Edge doublées et atteignant un quatrième trimestre consécutif de livraisons record de terminaux.
KVH Industries (NASDAQ: KVHI) hat seine Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und einen Rückgang der Gesamterlöse um 14% auf 26,9 Millionen Dollar im Q4 2024 im Vergleich zu 31,5 Millionen Dollar im Q4 2023 gemeldet. Das Unternehmen verzeichnete im Q4 einen Nettoverlust von 4,3 Millionen Dollar ($0,22 pro Aktie), eine Verbesserung gegenüber dem Verlust von 12,2 Millionen Dollar ($0,63 pro Aktie) im Q4 2023.
Bemerkenswerte Höhepunkte sind:
- Die Airtime-Einnahmen sanken im Q4 um 20% auf 20,8 Millionen Dollar
- Das bereinigte EBITDA nach Non-GAAP betrug 0,5 Millionen Dollar, ein Rückgang von 2,3 Millionen Dollar
- Über 1.000 Starlink-Terminals wurden im Q4 versendet
- 2.300 Starlink-Aktivierungen wurden im Jahr 2024 erreicht
Für 2025 prognostiziert KVH Einnahmen zwischen 115 und 125 Millionen Dollar sowie ein bereinigtes EBITDA von 9 bis 15 Millionen Dollar. Die Abonnentenzahl des Unternehmens stieg im Q4 um 4%, wobei die Aktivierungen von CommBox Edge sich verdoppelten und das vierte aufeinanderfolgende Quartal mit Rekordlieferungen von Terminals erreicht wurde.
- Net loss improved to $4.3M from $12.2M year-over-year
- Product revenues increased 24% in Q4
- Subscriber base grew 4% in Q4
- CommBox Edge activations doubled
- Operating expenses decreased by $2.7M to $10.3M
- Total revenue declined 14% to $26.9M
- Airtime revenue dropped 20% to $20.8M
- Non-GAAP adjusted EBITDA decreased to $0.5M from $2.3M
- U.S. Coast Guard contract downgrade impact of $2.2M
- Overall airtime gross margins declined
Insights
KVH Industries reported concerning Q4 and full-year 2024 results, with revenues dropping
The quarterly net loss of
KVH's strategic pivot to integrate Starlink shows promising early adoption metrics with 1,000+ terminals shipped in Q4 and 2,300 activations in 2024. However, this transition is cannibalizing their traditional VSAT business, creating margin pressure from maintaining fixed costs while revenue shifts to newer services.
Management's guidance for 2025 revenue of
The expense reductions, including decreased operating expenses of
KVH's strategic embrace of multi-orbit, multi-channel communications represents a critical adaptation to fundamental market disruption in maritime connectivity. The integration of Starlink into their portfolio demonstrates the company's recognition of LEO satellite technology's transformative impact on maritime communications, traditionally dominated by VSAT GEO solutions.
The rapid adoption metrics for Starlink—over 2,300 activations in 2024 and 1,000+ terminals shipped in Q4 alone—validate KVH's decision to pivot rather than compete directly. This shift mirrors similar transitions we've seen across the satellite communications industry as LEO constellations deliver superior latency and bandwidth at competitive price points, disrupting established business models.
KVH's added capabilities with OneWeb (another LEO provider), CommBox Edge and TracNet Coastal (5G/Wi-Fi) demonstrate a comprehensive approach to network integration rather than a simple capitulation to Starlink. The doubling of CommBox Edge activations suggests customers value KVH's ability to manage hybrid connectivity solutions across multiple orbits and technologies.
The financial results reflect the classic challenge of managing a technology transition: while Starlink margins remain strong, the fixed-cost infrastructure of their legacy VSAT business creates margin pressure during the migration period. The company appears to be navigating the "innovator's dilemma" by embracing the disruptive technology rather than protecting their legacy business.
The
MIDDLETOWN, R.I., March 06, 2025 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (Nasdaq: KVHI), reported financial results for the quarter and full year ended December 31, 2024 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.
Fourth Quarter 2024 Highlights
- Total revenues decreased by
14% in the fourth quarter of 2024 to$26.9 million from$31.5 million in the fourth quarter of 2023.
- Airtime revenue decreased by
$5.1 million to$20.8 million , or20% in the fourth quarter of 2024 compared to the fourth quarter of 2023.
- Net loss in the fourth quarter of 2024 was
$4.3 million , or$0.22 per share, compared to a net loss of$12.2 million , or$0.63 per share, in the fourth quarter of 2023.
- Non-GAAP adjusted EBITDA was
$0.5 million in the fourth quarter of 2024, compared to$2.3 million in the fourth quarter of 2023. The U.S. Coast Guard contract downgrade reduced non-GAAP adjusted EBITDA by$2.2 million year over year.
Commenting on the company’s fourth quarter and full year results, Brent C. Bruun, KVH’s Chief Executive Officer, said, “Our recent results validate our strategic decision to integrate Starlink fully into our product and service portfolio. We shipped more than 1,000 Starlink terminals in the fourth quarter and, with more than 2,300 activations in 2024, Starlink is now the fastest growing product line in our history. At the same time, we have strengthened our multi-orbit, multi-channel portfolio with the addition of OneWeb, CommBox Edge, and the TracNet Coastal global 5G and Wi-Fi communication system.
“Fourth quarter airtime and service revenue was
| Financial Highlights (in millions, except per share data) | ||||||||||||||||
| Three Months Ended | Year Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| GAAP Results | ||||||||||||||||
| Revenue | $ | 26.9 | $ | 31.5 | $ | 113.8 | $ | 132.4 | ||||||||
| Loss from operations | $ | (3.2 | ) | $ | (12.2 | ) | $ | (11.9 | ) | $ | (17.3 | ) | ||||
| Net loss | $ | (4.3 | ) | $ | (12.2 | ) | $ | (11.0 | ) | $ | (15.4 | ) | ||||
| Net loss per share | $ | (0.22 | ) | $ | (0.63 | ) | $ | (0.57 | ) | $ | (0.81 | ) | ||||
| Non-GAAP Adjusted EBITDA | $ | 0.5 | $ | 2.3 | $ | 8.1 | $ | 14.3 | ||||||||
Fourth Quarter Financial Summary
Revenue was
Service revenues for the fourth quarter of 2024 were
Product revenues for the fourth quarter of 2024 were
Our operating expenses decreased
Full Year Financial Summary
Revenue was
Service revenues for the year ended December 31, 2024, were
Product revenues for the year ended December 31, 2024, were
Our operating expenses decreased
Other Recent Announcements
- December 10, 2024 – Seaspan Selects KVH to Equip Fleet with OneWeb Low Earth Orbit Solution
- December 5, 2024 – Vroon and KVH Complete Deployment of Starlink/VSAT Hybrid Connectivity on 58 Vessels
- December 3, 2024 – KVH Introduces TracNet™ Coastal and TracNet Coastal Pro 5G/Wi-Fi Terminals and Cellular Data Plans
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, transaction-related and other variable legal and advisory fees, irregular inventory write-downs, excess purchase order obligations, 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 Middletown, RI, with research, development, and manufacturing operations in Middletown, RI, and 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.
This press release contains forward-looking statements that involve risks and uncertainties. For example, forward-looking statements include statements regarding projected financial results, the anticipated benefits of our restructuring and other initiatives, anticipated cost savings, our investment plans, our development goals, and the potential impact of our future initiatives on revenue, competitive positioning, profitability, and orders. Actual results could differ materially from the results projected in or implied by the forward-looking statements made in this press release. Factors that might cause these differences include, but are not limited to: continued increasing competition, particularly from lower-cost providers, low earth orbit satellite systems and other telecommunications systems, especially in the global leisure market, which is reducing demand for geosynchronous satellite services, including ours; the impact of lower revenue from the U.S. Coast Guard; potentially lower product and service margins from reseller arrangements; the risk that sales of Starlink terminals will slow down or decrease; potential hardware and software competition for our new CommBox product offerings; unanticipated obstacles to implementation of our manufacturing wind-down; unanticipated costs and expenses arising from the wind-down; unanticipated effects of the wind-down on our ongoing business; the risks associated with increased customer reliance on third-party hardware; the lack of future product differentiation; new service offerings from hardware providers; potential customer delays in selecting our services; the uncertain impact of continuing industry consolidation; the risk that our OpenNet program will lead to further reductions in sales of our satellite products; the risk that our current and future non-exclusive arrangements with Starlink and OneWeb will not provide material benefits; contingencies and termination rights applicable to pending and future property and asset sales; uncertainty regarding customer responses to new product and service introductions; challenges and potential additional expenses in retaining our employees, particularly in the current competitive labor market characterized by rising wages; the challenges of meeting customer expectations with a smaller employee base; uncertainties created by our new business strategy, which may impact customer recruitment and retention; the uncertain impact of ongoing disruptions in our supply chain and associated increases in our costs; the uncertain impact of inflation, particularly with respect to fuel costs, and fears of recession; the uncertain impact of the wars in Ukraine and the Middle East and international tensions in Asia, including the impact of dramatic shifts in U.S. geopolitical priorities; unanticipated changes or disruptions in our markets; technological breakthroughs by competitors; changes in customer priorities or preferences; increasing customer terminations; unanticipated liabilities, charges and write-offs; the potential that competitors will design around or invalidate our intellectual property rights; a history of losses; continued fluctuations in quarterly results; the uncertain impact of recent dramatic changes in both U.S. and foreign trade policy, including actual and potential new or higher tariffs and trade barriers, as well as trade wars with other countries; potentially inflationary impacts of tariffs and budget deficits; unanticipated obstacles in our product and service development, cost engineering and manufacturing efforts; adverse impacts of currency fluctuations; our ability to successfully commercialize our new initiatives without unanticipated additional expenses or delays; reduced sales to companies in or dependent upon the turbulent oil and gas industry; the impact of extended economic weakness on the sale and use of marine vessels and recreational vehicles; continued challenges of maintaining our market share in the market for airtime services; the risk that declining sales of the TracNet H-series and TracPhone V-HTS series products and related services will continue to reduce airtime gross margins; the risk that reduced product sales will continue to erode product gross margins and lead to increased losses; potential continuing declines or changes in customer demand, due to economic, weather-related, seasonal, and other factors, particularly with respect to the TracNet H-series and TracPhone V-HTS series; exposure for potential intellectual property infringement; changes in tax and accounting requirements or assessments; and export restrictions, delays in procuring export licenses, and other international risks. These and other factors are discussed in more detail in our Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 7, 2024. Copies are available through our Investor Relations department and website, investors.kvh.com. We do not assume any obligation to update our forward-looking statements to reflect new information and developments.
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 December 31, | Year ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Sales: | ||||||||||||||||
| Service | $ | 22,324 | $ | 27,739 | $ | 96,446 | $ | 114,622 | ||||||||
| Product | 4,593 | 3,716 | 17,382 | 17,757 | ||||||||||||
| Net sales | 26,917 | 31,455 | 113,828 | 132,379 | ||||||||||||
| Costs and expenses: | ||||||||||||||||
| Costs of service sales | 15,506 | 17,514 | 60,002 | 65,362 | ||||||||||||
| Costs of product sales | 4,286 | 13,107 | 18,607 | 29,149 | ||||||||||||
| Research and development | 1,668 | 2,020 | 8,439 | 9,399 | ||||||||||||
| Sales, marketing and support | 5,363 | 5,252 | 21,013 | 20,925 | ||||||||||||
| General and administrative | 3,299 | 5,760 | 16,513 | 18,899 | ||||||||||||
| Goodwill impairment charge | — | — | — | 5,333 | ||||||||||||
| Intangible asset impairment charge | — | — | 1,137 | 657 | ||||||||||||
| Total costs and expenses | 30,122 | 43,653 | 125,711 | 149,724 | ||||||||||||
| Loss from operations | (3,205 | ) | (12,198 | ) | (11,883 | ) | (17,345 | ) | ||||||||
| Interest income | 623 | 986 | 3,039 | 3,646 | ||||||||||||
| Interest expense | — | 1 | 2 | 1 | ||||||||||||
| Other expense, net | (1,433 | ) | (821 | ) | (1,781 | ) | (1,404 | ) | ||||||||
| Loss before income tax expense | (4,015 | ) | (12,034 | ) | (10,627 | ) | (15,104 | ) | ||||||||
| Income tax expense | 295 | 159 | 421 | 318 | ||||||||||||
| Net loss | $ | (4,310 | ) | $ | (12,193 | ) | $ | (11,048 | ) | $ | (15,422 | ) | ||||
| Net loss per common share | ||||||||||||||||
| Basic | $ | (0.22 | ) | $ | (0.63 | ) | $ | (0.57 | ) | $ | (0.81 | ) | ||||
| Diluted | $ | (0.22 | ) | $ | (0.63 | ) | $ | (0.57 | ) | $ | (0.81 | ) | ||||
| Weighted average number of common shares outstanding: | ||||||||||||||||
| Basic | 19,453 | 19,250 | 19,389 | 19,130 | ||||||||||||
| Diluted | 19,453 | 19,250 | 19,389 | 19,130 | ||||||||||||
| KVH INDUSTRIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, unaudited) | ||||||
| December 31, 2024 | December 31, 2023 | |||||
| ASSETS | ||||||
| Cash, cash equivalents and marketable securities | $ | 50,572 | 69,771 | |||
| Accounts receivable, net | 21,624 | 25,670 | ||||
| Inventories, net | 22,953 | 19,046 | ||||
| Other current assets and contract assets | 16,016 | 4,331 | ||||
| Current assets held for sale | 11,410 | — | ||||
| Total current assets | 122,575 | 118,818 | ||||
| Property and equipment, net | 27,014 | 47,680 | ||||
| Intangible assets, net | 828 | 1,194 | ||||
| Right of use assets | 1,361 | 1,068 | ||||
| Other non-current assets and contract assets | 3,146 | 3,618 | ||||
| Non-current deferred income tax asset | 157 | 256 | ||||
| Total assets | $ | 155,081 | $ | 172,634 | ||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||
| Accounts payable and accrued expenses | $ | 14,173 | 22,412 | |||
| Deferred revenue | 1,039 | 1,774 | ||||
| Current operating lease liability | 660 | 786 | ||||
| Total current liabilities | 15,872 | 24,972 | ||||
| Long-term operating lease liability | 569 | 289 | ||||
| Non-current deferred income tax liability | 15 | 1 | ||||
| Stockholders’ equity | 138,625 | 147,372 | ||||
| Total liabilities and stockholders’ equity | $ | 155,081 | $ | 172,634 | ||
| KVH INDUSTRIES, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP NET LOSS TO NON-GAAP EBITDA AND NON-GAAP ADJUSTED EBITDA (in thousands, unaudited) | ||||||||||||||||
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Net loss - GAAP (1) | $ | (4,310 | ) | $ | (12,193 | ) | $ | (11,048 | ) | $ | (15,422 | ) | ||||
| Income tax expense | 295 | 159 | 421 | 318 | ||||||||||||
| Interest income, net | (623 | ) | (985 | ) | (3,037 | ) | (3,645 | ) | ||||||||
| Depreciation and amortization | 3,048 | 3,319 | 13,298 | 13,438 | ||||||||||||
| Non-GAAP EBITDA | (1,590 | ) | (9,700 | ) | (366 | ) | (5,311 | ) | ||||||||
| Stock-based compensation expense | 398 | 645 | 2,027 | 2,078 | ||||||||||||
| Goodwill impairment charge | — | — | — | 5,333 | ||||||||||||
| Long-lived assets impairment charge | — | — | 1,137 | 657 | ||||||||||||
| Disposal of a discontinued project | — | 2,099 | — | 2,099 | ||||||||||||
| Loss on an unfavorable future contract | — | 337 | — | 337 | ||||||||||||
| Employee termination and other variable costs | 926 | — | 3,863 | — | ||||||||||||
| Prior period Brazil tax settlement | 446 | — | 446 | — | ||||||||||||
| Transaction-related and other variable legal and advisory fees | 156 | 41 | 451 | 275 | ||||||||||||
| Irregular inventory write-down | — | 5,225 | — | 5,225 | ||||||||||||
| Excess purchase order obligations | — | 3,569 | — | 3,569 | ||||||||||||
| Loss on sale of a subsidiary | — | 53 | — | 53 | ||||||||||||
| Foreign exchange transaction loss | 176 | 15 | 493 | 33 | ||||||||||||
| Non-GAAP adjusted EBITDA | $ | 512 | $ | 2,284 | $ | 8,051 | $ | 14,348 | ||||||||
(1) Net loss - GAAP includes a non-cash loss related to the disposal of AgilePlans revenue-generating fixed assets, in which no proceeds were received, of
| Contact: | KVH Industries, Inc. Chris Watson 401-845-2441 IR@kvh.com |
FAQ
What caused KVH Industries' revenue decline in Q4 2024?
How many Starlink terminals did KVHI ship in Q4 2024?
What is KVHI's revenue guidance for 2025?
How did KVHI's Q4 2024 product revenues perform compared to Q4 2023?
