Welcome to our dedicated page for KVH Industries news (Ticker: KVHI), a resource for investors and traders seeking the latest updates and insights on KVH Industries stock.
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 has launched two new value-added services for maritime connectivity: KVH Managed Firewall and KVH Cloud Email. These services enhance cyber threat protection and provide secure email solutions for commercial vessels utilizing KVH’s TracNet and TracPhone systems. The KVH Managed Firewall utilizes Fortinet cybersecurity features and is available via a monthly subscription. The KVH Cloud Email service allows users to manage emails securely while at sea with 10 GB cloud storage per user. These additions aim to improve fleet efficiency, onboard communication, and crew wellbeing, aligning with KVH's commitment to innovation in maritime services.
KVH Industries, Inc. (Nasdaq: KVHI) announces that CEO Brent Bruun and CTO Robert Balog will present at the 25th Annual Needham Growth Conference on January 10, 2023, at 10:15 a.m. ET. The presentation will be available for live streaming on the company's investor website, investors.kvh.com, and an archived version will be accessible later the same day.
KVH is a leader in mobile connectivity and has been operational since 1982, offering innovative communication solutions globally.
KVH Industries, Inc. (Nasdaq: KVHI) reported its third-quarter financial results for 2022, highlighting a net income of $29.6 million, boosted by a $30.9 million gain from the sale of its inertial navigation business. Total revenues from continuing operations increased 2% to $35.2 million, driven by an 8% rise in mini-VSAT Broadband airtime revenue. However, net loss from continuing operations was $0.1 million, a decline from a $3.7 million profit in Q3 2021. Operating expenses decreased by $1.6 million, reflecting a 15% reduction in recurring costs since last year.
KVH Industries will announce its Q3 financial results for the period ending September 30, 2022, on December 6, 2022. The announcement will be followed by an investor conference call at 9:00 a.m. ET hosted by CEO Brent Bruun and CFO Roger Kuebel.
A live broadcast of the call can be accessed at investors.kvh.com. An audio replay will be available on the site for two weeks after the call. Investors may submit questions via email to IR@kvh.com.
KVH Industries has secured a contract worth up to $69 million from the U.S. Coast Guard to provide a next-generation satellite communications solution for its small cutter fleet, comprising over 140 vessels. This contract includes hardware, airtime, and global support and follows a competitive procurement process. KVH's TracPhone V7-HTS system will enhance connectivity for mission-critical applications. Additionally, approximately 20 new cutters are expected to join the fleet over the next five years, requiring further support.
KVH Industries has launched a limited duration stockholder rights plan to protect shareholder interests and evaluate options for maximizing shareholder value following its recent sale of its inertial navigation business. The plan is effective until the 2023 Annual Meeting, expiring automatically unless approved by shareholders. Rights become exercisable if an entity acquires 15% or more of outstanding shares, ensuring fair treatment among shareholders. The plan aims to give the Board sufficient time to make informed decisions regarding potential offers and shareholder value enhancement.
KVH Industries reported a net loss of $1.4 million for Q2 2022, down from $5.7 million in Q2 2021, alongside a 4% revenue decrease to $41.8 million. The company sold its inertial navigation business to EMCORE Corporation for $55 million to focus on mobile connectivity, which saw a 12% revenue growth in its mini-VSAT Broadband segment. Operating expenses decreased 16.5% to $17.6 million. Non-GAAP adjusted EBITDA rose to $4.1 million.
KVH Industries will announce its financial results for Q2 2022 on August 9, 2022. An investor conference call will follow at 5:00 p.m. ET, hosted by CEO Brent Bruun and CFO Roger Kuebel. A live broadcast of the call is available at investors.kvh.com. An audio replay will be accessible for two weeks after the call. KVH Industries specializes in mobile connectivity and inertial navigation systems, maintaining its position as a leader in maritime VSAT.
KVH Industries has launched the KVH ONE hybrid network and TracNet terminals, providing enhanced connectivity for maritime users.
These terminals combine satellite, cellular, and Wi-Fi technologies with automatic switching for optimal performance. The network offers coverage of 276 million sq. km and VSAT speeds up to 20/3 Mbps. Key features include lightweight design, simple installation, and various airtime plans. Additionally, integrated cybersecurity measures are available, ensuring secure communications for commercial and leisure users.
FAQ
What is the current stock price of KVH Industries (KVHI)?
What is the market cap of KVH Industries (KVHI)?
What does KVH Industries Inc. specialize in?
What are some of KVH's key products?
What is the KVH ONE™ network?
Who are KVH's primary customers?
Where does KVH generate most of its revenue?
What recent partnership has KVH announced?
What strategic changes is KVH implementing?
How does KVH support the maritime industry?
What financial outlook does KVH have?
How long has KVH been in business?
