Kvh Industries, Inc. ( (KVHI) ) has released its Q1 earnings. Here is a breakdown of the information Kvh Industries, Inc. presented to its investors.
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KVH Industries, Inc. is a global leader in maritime and mobile connectivity, providing solutions for commercial maritime, leisure marine, military/government, and land mobile applications. Based in Middletown, RI, the company offers products like TracNet, TracPhone, and TracVision, and services such as the KVH ONE OpenNet Program and AgilePlans Connectivity as a Service.
KVH Industries reported a 13% decrease in total revenues for the first quarter of 2025, amounting to $25.4 million, down from $29.3 million in the same period of 2024. The decline was attributed to the transition to low earth orbit satellite services and a downgrade in the U.S. Coast Guard contract.
Key financial metrics revealed a net loss of $1.7 million, or $0.09 per share, an improvement from the $3.2 million loss in the previous year. Non-GAAP adjusted EBITDA stood at $1.0 million, down from $2.0 million in 2024. Despite the revenue decline, the company saw a 5% increase in subscribing vessels and maintained strong LEO airtime margins.
KVH’s strategic initiatives, including the integration of Starlink and the launch of OneWeb service, have shown positive results. The company achieved record terminal shipments for the fifth consecutive quarter and expanded its service to over 7,400 active vessels.
Looking ahead, KVH Industries remains focused on its strategic initiatives and cost management. The company is optimistic about the growth of its LEO-based business and continues to enhance its product and service offerings to meet customer demands worldwide.