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KVH Industries (KVHI)
NASDAQ:KVHI
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KVH Industries
(NASDAQ:KVHI)
54Neutral
KVH Industries (KVHI) vs. S&P 500 (SPY)
Market Cap
$101.72M
Dividend YieldN/A
Average Volume (3M)34.18K
Price to Earnings (P/E)―
Beta (1Y)0.47
Revenue Growth-14.38%
EPS Growth49.11%
CountryUS
Employees247
SectorTechnology
Sector Strength77
IndustryCommunication Equipment
Share Statistics
EPS (TTM)-0.09
Shares Outstanding19,599,460
10 Day Avg. Volume16,763
30 Day Avg. Volume34,184
Financial Highlights & Ratios
PEG Ratio-0.21
Price to Book (P/B)0.71
Price to Sales (P/S)0.00
P/FCF Ratio-4.80
Enterprise Value/Market Cap0.49
Enterprise Value/Revenue0.10
Enterprise Value/Gross Profit1.42
Enterprise Value/Ebitda-2.47
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
KVH Industries Business Overview & Revenue Model
Company DescriptionKVH Industries, Inc. (KVHI) is a leading provider of innovative connectivity and navigation solutions to the maritime, leisure, commercial, and military markets. The company's core products include satellite-based communication systems, inertial navigation systems, and mobile broadband services, which enable reliable communication, precise navigation, and enhanced situational awareness for its customers.
How the Company Makes MoneyKVH Industries generates revenue primarily through the sale of its satellite communication systems and services, such as TracPhone and TracVision, which provide internet, television, and voice services to vessels at sea. Additionally, the company earns revenue from its inertial navigation products, including fiber optic gyros and tactical navigation systems, used in both military and commercial applications. KVH also offers subscription-based services, such as its mini-VSAT Broadband network, which provides global connectivity to maritime vessels. Key revenue streams include hardware sales, service subscriptions, and licensing fees. Partnerships with satellite operators and maritime service providers further enhance KVH's ability to offer comprehensive connectivity solutions and drive revenue growth.
KVH Industries Financial Statement Overview
Summary
KVH Industries faces significant profitability issues with declining revenues and negative margins. The balance sheet remains strong with low leverage, but cash flow challenges could impede future growth. Continued financial restructuring may be needed to improve operational efficiency and cash generation.Income Statement
The company has faced consistent revenue declines and negative profitability. Net profit margin is negative, indicating losses. Though gross profit margin remains high, EBIT and EBITDA margins are negative, reflecting operational challenges.45
Neutral
Balance Sheet
The balance sheet shows a strong equity position with a low debt-to-equity ratio, indicating financial stability. However, declining total assets and stockholders' equity over recent years could signal potential challenges ahead.60
Neutral
Cash Flow
Operating cash flow has been negative in recent years, impacting free cash flow. The company shows an ability to generate cash through investing activities, but overall cash flow remains a concern due to negative free cash flow.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 113.83M | 132.38M | 138.88M | 171.77M | 158.73M | Gross Profit |
| 35.22M | 37.87M | 52.60M | 59.80M | 57.61M | EBIT |
| -11.88M | -17.34M | -5.65M | -17.95M | -12.45M | EBITDA |
| 2.67M | -1.67M | 9.96M | 1.43M | -10.09M | Net Income Common Stockholders |
| -11.05M | -15.42M | -3.92M | -9.76M | -21.94M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 50.57M | 69.77M | 76.74M | 24.52M | 37.72M | Total Assets |
| 155.08M | 172.63M | 200.53M | 168.79M | 183.59M | Total Debt |
| 1.23M | 1.07M | 2.17M | 3.14M | 13.96M | Net Debt |
| -49.34M | -10.22M | -18.89M | -8.24M | 1.38M | Total Liabilities |
| 16.46M | 25.26M | 43.87M | 39.82M | 51.71M | Stockholders Equity |
| 138.63M | 147.37M | 156.66M | 128.98M | 131.88M |
| Cash Flow | Free Cash Flow | |||
| -20.59M | -9.40M | -5.55M | -15.89M | -17.22M | Operating Cash Flow |
| -13.17M | 2.53M | 8.89M | 2.91M | -3.08M | Investing Cash Flow |
| 52.39M | -14.71M | 375.00K | -6.71M | -9.29M | Financing Cash Flow |
| 110.00K | 2.34M | 708.00K | 2.65M | 7.13M |
KVH Industries Technical Analysis
Positive
5.19
Price Trends
5.10
Positive
5.46
Negative
5.17
Positive
Market Momentum
0.02
Negative
55.58
Neutral
57.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KVHI, the sentiment is Positive. The current price of 5.19 is above the 20-day moving average (MA) of 5.07, above the 50-day MA of 5.10, and above the 200-day MA of 5.17, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 55.58 is Neutral, neither overbought nor oversold. The STOCH value of 57.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KVHI.
KVH Industries Risk Analysis
KVH Industries disclosed 31 risk factors in its most recent earnings report. KVH Industries reported the most risks in the “Production” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
KVH Industries Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $174.37M | 7.54 | 52.23% | 5.51% | 24.10% | 603.04% | |
60 Neutral | $11.58B | 10.33 | -7.23% | 2.94% | 7.47% | -10.84% | |
54 Neutral | $101.72M | ― | -6.78% | ― | -14.38% | 49.11% | |
51 Neutral | $48.59M | ― | -25.57% | ― | 8.46% | 39.81% | |
47 Neutral | $134.92M | 26.61 | 111.75% | ― | 1.60% | ― | |
44 Neutral | $59.28M | ― | -53.44% | ― | -13.06% | -465.17% |
* Technology Sector Average
Performance Comparison
KVHI
KVH Industries
5.19
-0.04
-0.76%
CMTL
Comtech Telecommunications
2.02
-0.23
-10.22%
FEIM
Frequency Electronics
18.02
9.28
106.18%
AIRG
Airgain
4.12
-1.15
-21.82%
INSG
Inseego
8.99
2.39
36.21%
KVH Industries Earnings Call Summary
Earnings Call Date:May 07, 2025
(Q1-2025)
| % Change Since: 3.80%|
Next Earnings Date:Aug 01, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant achievements such as record subscriber growth, strong performance in the Starlink and OneWeb segments, and improved airtime gross margins. However, challenges include a year-over-year revenue decline and pending facility sales. Overall, the positive aspects and strategic progress outweigh the challenges.Q1-2025 Updates
Positive Updates
Subscriber Growth and Product Shipments
KVH Industries achieved record-breaking subscriber growth with a 5% increase in subscribing vessels from Q4 2024, totaling over 7,400 vessels. The company also reported its fifth consecutive record quarter for product shipments, with more than 1,300 connectivity terminals shipped.
Strong Performance of Starlink and OneWeb
Starlink revenue continued to increase as a percentage of total revenue, with Starlink terminals driving subscriber growth. The company also successfully added OneWeb terminals to its portfolio, seeing significant interest in service, particularly outside the U.S.
Increase in Airtime Gross Margin
Airtime gross margin improved to 31.5% from 28.2% in the prior quarter, driven by a reduction in GEO bandwidth commitments and strong LEO margins.
Launch of CommBox Edge Secure Suite
KVH announced the launch of CommBox Edge Secure Suite, designed to detect, prevent, and report on cybersecurity threats, utilizing advanced technology including Cisco Talos and Cisco Snort.
Negative Updates
Revenue Decline
Revenue declined year-over-year in Q1 2025 to $25.4 million, primarily due to lower revenue from the VSAT airtime service and the loss of the U.S. Coast Guard revenue.
Pending Sales of Headquarters and Factory
Sales of both the headquarters and factory facilities remain pending, subject to closing conditions, with expected closure for the headquarters by the end of Q2 and the factory by Q3 following zoning approvals.
Company Guidance
In the Q1 2025 earnings call for KVH Industries, Inc., significant metrics and guidance were discussed, highlighting both challenges and positive developments. The company reported a year-over-year revenue decline to $25.4 million, primarily due to reduced revenue from their VSAT airtime service following the loss of a U.S. Coast Guard contract. However, gross profit saw sequential growth from Q4 2024, with airtime gross margin increasing to 31.5% from 28.2%, and even higher at 44.1% when excluding depreciation. The subscriber base expanded by 5% sequentially, reaching over 7,400 vessels, driven by strong demand for Starlink services, which contributed to a 3% increase in airtime gross margin from Q4. The company also recorded its fifth consecutive record quarter for connectivity terminal shipments, surpassing 1,300 units, with significant contributions from Starlink, TracNet, TracFone, and new OneWeb terminals. Product shipments rose 33% compared to the previous quarter, and active CommBox Edge subscribers increased by 35%. Despite an operating expense increase to $9.7 million, adjusted EBITDA reached $1 million. KVH is confident in maintaining positive cash flow, bolstered by strategic cost management and growth in its LEO business, while mitigating potential impacts from tariffs and transitions in their GEO segment.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.