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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 (Nasdaq: KVHI) reported a 5% increase in total revenues for Q3 2021, reaching $43.0 million, compared to $41.1 million in Q3 2020. Revenue from the AgilePlans program surged over 54%, representing 47% of the mini-VSAT Broadband subscriber base. Net income was $4.0 million ($0.22 per share), rebounding from a net loss of $0.5 million last year. However, inertial navigation product sales declined 11% due to supply chain issues, impacting shipment volumes. Overall, KVH expects full-year revenue growth in the high single digits.
KVH Industries, Inc. has expanded its maritime IoT solutions with the launch of Cloud Connect, a new service that leverages advanced edge computing for efficient data management. Available for order now, the service will ship on November 30, 2021. Cloud Connect integrates data from onboard sensors, offering real-time analysis and operational insights for vessel owners and operators. This offering is part of the KVH Watch suite, which aims to enhance smart shipping through improved connectivity and data utilization for maritime stakeholders.
KVH Industries (Nasdaq: KVHI) will announce its third-quarter financial results on November 4, 2021, following the period ending September 30, 2021. An investor conference call will take place at 9:00 a.m. ET, hosted by CEO Martin Kits van Heyningen and CFO Roger Kuebel. A live broadcast will be accessible at investors.kvh.com, with an audio replay available for two weeks post-call. KVH, a leader in mobile connectivity and inertial navigation systems, was founded in 1982 and is headquartered in Middletown, RI.
KVH Industries has partnered with A.M. Nomikos for the deployment of its AgilePlans VSAT connectivity on three vessels, enhancing both crew welfare and operational efficiency. The installations include TracPhone V7-HTS antennas, which deliver high-speed data, enabling up to 10 Mbps down and 3 Mbps up. The AgilePlans model offers comprehensive maritime satellite services without high capital costs, ensuring seamless connectivity and maintenance. KVH’s network employs Intelsat’s FlexMaritime for robust global coverage, affirming KVH's commitment to supporting maritime operations.
KVH Industries announces the expansion of its AgilePlans program with Briese Schiffahrt, growing their fleet from 5 to 38 vessels. The program facilitates a cost-effective monthly subscription for satellite services, promoting flexibility and ease of use. This service supports critical operations and crew communications, with vessels equipped with advanced TracPhone systems providing high-speed internet. Notably, plans for future vessels highlight ongoing demand, while the NEWSlink service enhances crew welfare by providing access to international news.
KVH Industries has secured a $7.9 million order for its DSP-1750 fiber optic gyro from Escribano, a Spanish defense contractor. This technology will be utilized to stabilize the Guardian 30 remotely controlled turret, recently selected by the Spanish Army for its VCR 8x8 Dragon combat vehicle. Shipments are scheduled to continue through 2025, with an increasing volume annually. The partnership underscores KVH's reputation for reliability and innovation in defense technology.
KVH Industries reported a 17% increase in total revenues for the second quarter of 2021, reaching $43.4 million compared to $36.9 million in Q2 2020. AgilePlans revenue surged 54%, now comprising 44% of the mini-VSAT subscriber base. Despite revenue growth, the company recorded a net loss of $5.7 million or $0.31 per share, worsening from $3.6 million or $0.20 per share a year prior. Non-GAAP adjusted EBITDA hit $1.5 million, improving from breakeven in Q2 2020. The outlook suggests mid to high single-digit revenue growth for the full year, with a focus on transitioning to the HTS network.
KVH Industries will announce its second-quarter financial results for the period ending June 30, 2021, on July 30, 2021. The announcement will be followed by an investor conference call at 9:00 a.m. ET, featuring CEO Martin Kits van Heyningen and CFO Roger Kuebel. Investors can access the live broadcast at investors.kvh.com, with a replay available for two weeks. Founded in 1982, KVH focuses on mobile connectivity and inertial navigation systems, serving global markets from its various locations.
KVH Industries announced a significant milestone in its AgilePlans service rollout, providing reliable VSAT connectivity to RIX Shipmanagement's fleet. Initial installations for four vessels have been completed, with an additional 25 planned by Q2 2022. The subscription-based program includes a variety of communication systems aimed at optimizing vessel performance and crew welfare. This shift from legacy systems to advanced VSAT solutions is crucial for improving operational efficiency in the maritime industry.
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