KVH INDUSTRIES INC DE
For the period ended Dec 31, 2024. Filed Mar 10, 2025.
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FY2024 · Filed Mar 10, 2025
KVHI$7.31+4.4%Stored close · as of Nov 10, 2026
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Consolidated Balance Sheets as of December 31, 202 and
(in thousands, except share and per share data)
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $50,572 | $11,294 |
| Marketable securities | — | 58,477 |
| Accounts receivable, net of allowance for credit losses of $1,006 and $1,168 as of December 31, 2024 & December 31, 2023, respectively | 21,624 | 25,670 |
| Inventories | 22,953 | 19,046 |
| Prepaid expenses and other current assets | 16,016 | 4,331 |
| Current assets held for sale | 11,410 | — |
| Total current assets | 122,575 | 118,818 |
| Property and equipment, net | 27,014 | 47,680 |
| Intangible assets, net | 828 | 1,194 |
| Right of use assets | 1,361 | 1,068 |
| Other non-current assets | 3,146 | 3,618 |
| Deferred income tax asset | 157 | 256 |
| Total assets | $155,081 | $172,634 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $4,316 | $4,780 |
| Accrued airtime | 745 | 5,508 |
| Accrued compensation and employee-related expenses | 4,728 | 4,466 |
| Accrued loss on future firm purchase commitments | 919 | 3,569 |
| Accrued other | 2,134 | 2,588 |
| Accrued product warranty costs | 607 | 828 |
| Deferred revenue | 1,039 | 1,774 |
| Current operating lease liability | 660 | 786 |
| Liability for uncertain tax positions | 724 | 673 |
| Total current liabilities | 15,872 | 24,972 |
| Long-term operating lease liability | 569 | 289 |
| Deferred income tax liability | 15 | 1 |
| Total liabilities | $16,456 | $25,262 |
| Commitments and contingencies (Notes 1, 5, 12 and 13) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.01 par value. Authorized 1,000,000 shares; none issued | — | — |
| Common stock, $0.01 par value. Authorized 30,000,000 shares, 21,240,525 and 21,066,899 shares issued at December 31, 2024 and December 31, 2023, respectively; and 19,784,416 and 19,610,790 shares outstanding at December 31, 2024 and December 31, 2023, respectively | 212 | 211 |
| Additional paid-in capital | 167,287 | 165,140 |
| Accumulated deficit | (12,752) | (1,704) |
| Accumulated other comprehensive loss | (4,032) | (4,185) |
| 150,715 | 159,462 | |
| Less: treasury stock at cost, common stock, 1,456,109 shares as of December 31, 2024 and December 31, 2023, respectively | (12,090) | (12,090) |
| Total stockholders’ equity | 138,625 | 147,372 |
| Total liabilities and stockholders’ equity | $155,081 | $172,634 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.