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KVH Industries Inc. (Nasdaq: KVHI) is a leading provider of global high-speed internet, television, and voice services via satellite to mobile users at sea, on land, and in the air. Headquartered in Middletown, RI, and founded in 1982, KVH delivers connectivity solutions through its renowned product lines such as TracPhone® for satellite communications and TracVision® for satellite television systems.
KVH's core offerings include the global mini-VSAT Broadband network and the innovative KVH ONE™ hybrid network, which integrates Ku-band GEO services, low earth orbit (LEO) services, 5G/LTE cellular communications, and shore-based Wi-Fi. This integration ensures seamless connectivity and intelligent network management for commercial, leisure, and military vessels.
KVH also encompasses KVH Media Group and Videotel. KVH Media Group provides licensed news, entertainment, and training content for various sectors including maritime, business, retail, and hospitality. Videotel specializes in high-quality e-learning training materials and management software for the maritime industry.
KVH's commitment to cutting-edge technology is evident in its advanced sensors, inertial navigation systems, and fiber optic gyros catering to defense and commercial guidance applications. These innovations support the company's mission to connect mobile users with the services they need, no matter where they are.
Recently, KVH has made significant strides in strategic partnerships and technological advancements. The company renewed its satellite services contract with Intelsat for three years, enhancing network capacity and reducing service costs. Additionally, a new partnership with Kognitive Networks will enhance KVH's connectivity terminals with state-of-the-art network and bandwidth management tools.
In terms of financial health, KVH continues to generate revenues from international markets, primarily from Singapore, Canada, European Union countries, and other regions across Africa, Asia/Pacific, and the Middle East. The company is currently undergoing a strategic realignment to become a more agile, solutions-driven provider by winding down its hardware manufacturing operations and focusing on integrated multi-orbit, multi-channel connectivity and services.
Despite the changes, KVH remains dedicated to delivering excellent value-added solutions to its customers. The company's diverse offerings and robust global service infrastructure ensure it continues to lead in mobile connectivity and maritime VSAT sectors.
KVH Industries announced a strategic partnership with Smart Ship Hub, integrating KVH Watch connectivity into its remote vessel management platform. This collaboration aims to enhance vessel performance through real-time data and video diagnostics. KVH Watch will support Smart Ship Hub's services by providing secure, high-speed satellite connectivity, crucial for effective maritime operations and reducing cyber risks. The partnership enhances data management and operational efficiency for maritime businesses, marking a significant step towards digital transformation in the industry.
KVH Industries announced that TechBinder has joined the KVH Watch Solution Partner program to enhance fleet optimization through data-driven insights. By integrating TechBinder's Smart Vessel Optimizer platform with KVH Watch connectivity, maritime companies can achieve operational efficiency, conduct emission reporting, and perform remote expert interventions. This partnership allows for real-time data analytics, crucial for vessels operating beyond LTE reach.
KVH Watch offers 24/7 satellite connectivity, supporting maritime equipment manufacturers and ensuring improved data accessibility for fleet management.
KVH Industries has partnered with GreenSteam to enhance maritime data sharing using KVH Watch connectivity. This collaboration aims to improve fuel efficiency and reduce emissions by enabling real-time data flow from vessels to shore. GreenSteam will integrate KVH Watch into its performance optimization solutions, facilitating timely data analysis and operational decision-making for shipowners. This partnership capitalizes on advancements in satellite communications to support sustainable shipping practices and operational cost savings.
KVHI announced that marine technical services provider Kilo Marine will integrate KVH Watch connectivity into its services. This partnership aims to enhance vessel equipment monitoring and troubleshooting through real-time data via Kilo Marine's V-Node platform. By utilizing KVH Watch, Kilo Marine will offer dedicated connectivity and on-demand Remote Expert Interventions to its global customers. This is particularly relevant as maritime operators seek efficiency amidst increasing demands for remote support, especially highlighted by the COVID-19 pandemic.
MIDDLETOWN, R.I., Jan. 13, 2021 – KVH Industries, CEO Martin Kits van Heyningen and COO/CFO Brent Bruun will present at the 23rd Annual Needham Virtual Growth Conference on January 15, 2021, at 10:45 a.m. ET. The presentation can be streamed live on KVH's investor website and will be available for replay later. KVH Industries is a leader in mobile connectivity and inertial navigation, known for its maritime VSAT services and high-performance sensors for defense and commercial sectors. Established in 1982, KVH operates globally with R&D in Rhode Island and Illinois.
KVH Industries, Inc. (Nasdaq: KVHI) partners with ioCurrents to enhance maritime services through the KVH Watch connectivity solution. This collaboration integrates KVH Watch into ioCurrents' MarineInsight platform, allowing real-time vessel analytics for fuel optimization and maintenance. The service aims to improve operational efficiency, reduce downtime, and enable real-time troubleshooting during voyages. KVH Watch delivers reliable, high-speed satellite connectivity, supporting shoreside monitoring and remote interventions, essential in the current digital maritime landscape.
KVH Industries has announced a partnership with TMS Maritime Solutions to integrate KVH Watch connectivity into TMS’s remote vessel support solutions. The collaboration aims to enhance real-time data transfer, enabling preventive maintenance and troubleshooting without docking. This initiative responds to the maritime industry's growing need for digital processes, particularly highlighted by the COVID-19 pandemic. KVH Watch delivers a dedicated and secure connectivity solution, enhancing vessel operations and reducing costs associated with traditional data flow methods.
KVH Industries announced an expansion of its mini-VSAT Broadband HTS network, adding nearly 4 million square kilometers of coverage across Hudson Bay and the North Atlantic, including northeastern Canada, the Labrador Sea, Iceland, and Greenland. This enhancement is vital for commercial fishing fleets that depend on reliable satellite connectivity. The network now provides a total of 272 million square kilometers of coverage. KVH's solutions, including advanced antennas and maritime IoT offerings, enhance global connectivity for maritime operations.
KVH Industries announces the launch of its AgilePlans program in collaboration with Furuno in Japan, offering maritime VSAT connectivity through a monthly subscription model. This initiative eliminates large upfront costs and long-term commitments for commercial fleets. The service features high-speed internet via the mini-VSAT Broadband HTS network, available in approximately 4,000 locations. AgilePlans aims to enhance the speed of maritime digitalization and is backed by additional support services, including cybersecurity and maintenance.
KVH Industries reported a 5% increase in Q3 2020 revenues to $41.1 million compared to $39.3 million in Q3 2019. The company saw revenues for its AgilePlans, a Connectivity as a Service program, rise over 55% year-over-year, representing 35% of its mini-VSAT Broadband subscriber base. Net loss reduced to $0.5 million, or $0.03 per share, from a loss of $3.3 million, or $0.19 per share, in Q3 2019. Non-GAAP net income was $1.1 million, with adjusted EBITDA at $3.4 million. Operating expenses decreased by $2 million, signaling improved cost management amidst the ongoing impact of COVID-19.
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