Welcome to our dedicated page for Kvh Inds news (Ticker: KVHI), a resource for investors and traders seeking the latest updates and insights on Kvh Inds stock.
KVH Industries, Inc. (NASDAQ: KVHI) is a Middletown, Rhode Island-based provider of maritime and mobile connectivity via the KVH ONE network. The company regularly issues earnings releases, operational updates, and product announcements that are relevant for investors and industry observers following KVHI stock and the maritime communications sector.
On this news page, readers can find coverage of quarterly and annual financial results, including details on service revenues, product revenues, airtime trends, and subscribing vessel counts. KVH’s recent reports discuss its transition toward multi-orbit, low earth orbit (LEO)-focused services, integration of Starlink and OneWeb into its offerings, and changes in VSAT airtime revenue. These updates provide insight into how the company’s strategic shift is affecting its revenue mix and subscriber growth.
News items also highlight product launches and technology developments, such as the introduction of CommBox Edge Secure Suite for cybersecurity threat detection and response, new TracNet Coastal 5G/Wi-Fi terminals, and enhancements to the CommBox Edge Communications Gateway. In addition, KVH announces commercial milestones and partnerships, including distribution agreements for crew wellbeing content and acquisitions of customer and vendor agreements in regions like Asia-Pacific.
Investors can also follow conference call announcements for upcoming earnings releases, along with access details for live webcasts and replays. By reviewing this stream of company-generated news, users can track how KVH is positioning itself in maritime connectivity, how its LEO and GEO services are evolving, and how operational decisions, restructuring efforts, and property transactions are reflected in its reported results over time.
The VIEX-led investor group, holding nearly 10% of KVH’s outstanding stock, has issued a letter urging stockholders to elect their nominees, John Mutch and Eric Singer, to KVH’s Board during the upcoming Annual Meeting on June 17, 2021. They criticize the company's long-term poor financial performance under CEO Martin Kits van Heyningen and express concerns over wasted capital in a proxy fight. They emphasize the need for improved governance and accountability to counteract KVH's money-losing status quo and advocate for their nominees as a solution to the company's challenges.
KVH Industries has launched its KVH Elite unlimited VSAT streaming service for leisure yachts, available in eastern North America, Caribbean, and Mediterranean. Effective until September 30, 2021, the service will feature increased data speeds from July 2021, with downloads reaching up to 40 Mbps using the TracPhone V11-HTS. The service allows unlimited streaming access to HD content while at sea. KVH emphasizes growing demand for streaming in yachting, utilizing its mini-VSAT Broadband HTS network.
The Independent Directors of KVH Industries, Inc. (Nasdaq: KVHI) issued a letter to shareholders ahead of the June 17, 2021 annual meeting. The letter highlights a 66% total shareholder return over the past year and emphasizes the company's shift towards higher-margin revenue streams through innovative services. The directors expressed confidence in their nominees, Cielo Hernandez and Cathy-Ann Martine-Dolecki, while raising concerns over VIEX nominees, particularly Eric Singer, citing his fiduciary breach at PLX Technology Inc.
KVH Industries, Inc. (Nasdaq: KVHI) announced a letter from its Independent Directors ahead of the June 17, 2021, annual shareholder meeting. Key highlights include a 66% total shareholder return over the past year and a focus on innovative services aimed at higher-margin revenue. The Board expressed confidence in its nominees for the meeting, Cielo Hernandez and Cathy-Ann Martine-Dolecki, while raising concerns about VIEX's nominees due to past misconduct linked to one of them. The Board urges shareholders to support its candidates to maintain momentum.
KVH linkHUB has been successfully launched on 12 oil tankers by V.Ships Norway, providing licensed digital entertainment content to enhance seafarer well-being. Following a trial on one tanker, the service received positive feedback, leading to a fleet-wide rollout. The linkHUB offers access to a library of movies and TV shows without requiring an internet connection, improving access across living spaces on vessels. This initiative aligns with growing demands for crew entertainment solutions, particularly during the pandemic.
KVH Industries (Nasdaq: KVHI) issued a shareholder letter ahead of its June 17, 2021 annual meeting. The company reported a 16% revenue increase in Q1 year-over-year and a 73% stock price rise over the past year, outperforming major indices. KVH nominated two independent director candidates, Cielo Hernandez and Cathy-Ann Martine-Dolecki, for board positions, emphasizing their relevant industry experience. In contrast, they criticized nominees from activist investor VIEX Capital, citing past underperformance and breaches of fiduciary duty by VIEX's founder.
KVH Industries announced record shipments of over 500 VSAT satellite communications systems in Q1 2021, continuing its leadership as the #1 maritime VSAT provider by units. This marks the second consecutive quarter of record shipments, with a total of over 12,500 units shipped since the introduction of its mini-VSAT Broadband network in 2007. The maritime industry is increasingly adopting VSAT technology for enhanced connectivity and efficiency, transitioning from older systems. KVH is also noted as a market share leader in maritime VSAT as of the end of 2020.
KVH Industries reported a 16% revenue increase in Q1 2021, reaching $42.3 million compared to Q1 2020's $36.6 million. The rise was bolstered by a 48% jump in revenues from AgilePlans, which now accounts for 41% of mini-VSAT Broadband subscribers. Net loss improved to $4.0 million, or $0.22 per share, from $6.2 million in the prior year. Non-GAAP adjusted EBITDA was positive at $1.1 million. The company anticipates full-year revenue growth in the mid-to-high single digits if customer activity normalizes.
KVH Industries (Nasdaq: KVHI) announced the nomination of two independent director candidates, Cielo Hernandez and Cathy-Ann Martine-Dolecki, for election at the upcoming 2021 Annual Meeting. Chairman Martin Kits van Heyningen expressed confidence in their contributions due to their extensive experience in relevant sectors. Hernandez's background includes CFO roles in maritime and satellite communication, while Martine has held leadership positions in telecommunications, notably AT&T. The Board aims to refresh its membership, with four of six independent directors being relatively new.
KVH Industries (Nasdaq: KVHI) has proposed two independent director nominees, Cielo Hernandez and Cathy-Ann Martine-Dolecki, for election at the upcoming 2021 Annual Meeting of Stockholders. Chairman Martin Kits van Heyningen expressed confidence in their capabilities, highlighting Hernandez's experience as a CFO and Martine-Dolecki's extensive background in telecommunications. This move is part of ongoing Board refreshment efforts, which have seen significant turnover in recent years. Current directors Mark S. Ain and Stanley K. Honey are expected to retire at the Annual Meeting.