KVH INDUSTRIES INC \DE\

For the period ended Jun 30, 2026. Filed Aug 6, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 6, 2026

KVHI$7.00+8.7%Stored close · as of Nov 9, 2026

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Contents

INTERIM FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share amounts)

	June 30, 2026	December 31, 2025
ASSETS · (unaudited)
Current assets:
Cash and cash equivalents	$57,720	$69,910
Accounts receivable, net of allowance for credit losses of $970 and $712 as of June 30, 2026 and December 31, 2025, respectively	28,665	25,049
Inventories	11,856	14,859
Prepaid expenses and other current assets	19,770	7,980
Total current assets	118,011	117,798
Property and equipment, net	21,043	22,032
Intangible assets, net	3,954	3,717
Goodwill	732	732
Right of use assets	4,464	4,382
Other non-current assets	2,193	2,237
Deferred income tax asset	600	602
Total assets	$150,997	$151,500
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$6,954	$4,498
Accrued airtime	858	1,500
Accrued compensation and employee-related expenses	3,137	5,175
Accrued other	2,179	2,358
Accrued product warranty costs	656	644
Deferred revenue	1,273	1,155
Current operating lease liability	790	547
Liability for uncertain tax positions	840	793
Total current liabilities	16,687	16,670
Long-term operating lease liability	3,865	3,841
Deferred income tax liability	5	5
Total liabilities	$20,557	$20,516
Commitments and contingencies (Notes 2, 10, and 15)
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; 21,364,212 and 21,294,655 shares issued at June 30, 2026 and December 31, 2025, respectively; and 19,293,315 and 19,511,836 shares outstanding at June 30, 2026 and December 31, 2025, respectively	214	213
Additional paid-in capital	170,264	168,900
Accumulated deficit	(19,384)	(20,135)
Accumulated other comprehensive loss	(4,291)	(4,161)
	146,803	144,817
Less: treasury stock at cost, common stock, 2,070,897 and 1,782,819 shares as of June 30, 2026 and December 31, 2025, respectively.	(16,363)	(13,833)
Total stockholders’ equity	130,440	130,984
Total liabilities and stockholders’ equity	$150,997	$151,500

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except earnings per share amounts, unaudited)

Three Months Ended · Six Months Ended
	June 30,		June 30,
	2026	2025	2026	2025
Sales:
Service	$29,711	$23,049	$57,865	$44,691
Product	4,012	3,574	8,176	7,346
Net sales	33,723	26,623	66,041	52,037
Costs and expenses:
Costs of service sales	19,093	14,210	37,452	28,445
Costs of product sales	4,301	3,277	8,701	7,017
Research and development	805	916	1,531	2,103
Sales, marketing and support	5,237	5,010	10,306	9,970
General and administrative	4,363	3,580	8,245	7,115
Total costs and expenses	33,799	26,993	66,235	54,650
Loss from operations	(76)	(370)	(194)	(2,613)
Interest income	546	579	1,141	1,146
Interest expense	—	—	(6)	—
Other (expense) income, net	(104)	826	126	817
Income (loss) before income tax expense	366	1,035	1,079	(650)
Income tax expense	203	105	328	130
Net income (loss)	$163	$930	$751	$(780)
Net income (loss) per common share
Basic	$0.01	$0.05	$0.04	$(0.04)
Diluted	$0.01	$0.05	$0.04	$(0.04)
Weighted average number of common shares outstanding:
Basic	19,394	19,401	19,363	19,446
Diluted	19,666	19,441	19,554	19,446

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

Three Months Ended · Six Months Ended
	June 30,		June 30,
	2026	2025	2026	2025
Net income (loss)	$163	$930	$751	$(780)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	104	278	(130)	1,000
Other comprehensive income (loss), net of tax(1)	104	278	(130)	1,000
Total comprehensive income	$267	$1,208	$621	$220

(1)Tax impact was nominal for all periods.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

Common Stock · AdditionalPaid-inCapital · Retained Deficit · AccumulatedOtherComprehensive Loss · Treasury Stock · TotalStockholders’Equity
Shares · Amount · Shares · Amount
Balance at March 31, 2026	21,294	$213	$169,295	$(19,547)	$(4,395)	(1,817)	$(14,039)	$131,527
Net income	—	—	—	163	—	—	—	163
Other comprehensive income	—	—	—	—	104	—	—	104
Stock-based compensation	—	—	411	—	—	—	—	411
Issuance of common stock under employee stock purchase plan	6	—	31	—	—	—	—	31
Acquisition of treasury stock	—	—	—	—	—	(254)	(2,324)	(2,324)
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	64	1	527	—	—	—	—	528
Balance at June 30, 2026	21,364	$214	$170,264	$(19,384)	$(4,291)	(2,071)	$(16,363)	$130,440

Common Stock · AdditionalPaid-inCapital · Retained Deficit · AccumulatedOtherComprehensive Loss · Treasury Stock · TotalStockholders’Equity
Shares · Amount · Shares · Amount
Balance at December 31, 2025	21,295	$213	$168,900	$(20,135)	$(4,161)	(1,783)	$(13,833)	$130,984
Net income	—	—	—	751	—	—	—	751
Other comprehensive loss	—	—	—	—	(130)	—	—	(130)
Stock-based compensation	—	—	717	—	—	—	—	717
Issuance of common stock under employee stock purchase plan	6	—	31	—	—	—	—	31
Acquisition of treasury stock	—	—	—	—	—	(288)	(2,530)	(2,530)
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	63	1	616	—	—	—	—	617
Balance at June 30, 2026	21,364	$214	$170,264	$(19,384)	$(4,291)	(2,071)	$(16,363)	$130,440

Common Stock · AdditionalPaid-inCapital · Retained Deficit · AccumulatedOtherComprehensive Loss · Treasury Stock · TotalStockholders’Equity
Shares · Amount · Shares · Amount
Balance at March 31, 2025	21,220	$212	$167,624	$(14,462)	$(3,310)	(1,487)	$(12,253)	$137,811
Net income	—	—	—	930	—	—	—	930
Other comprehensive income	—	—	—	—	278	—	—	278
Stock-based compensation	—	—	434	—	—	—	—	434
Acquisition of treasury stock	—	—	—	—	—	(211)	(1,093)	(1,093)
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	4	—	24	—	—	—	—	24
Balance at June 30, 2025	21,224	$212	$168,082	$(13,532)	$(3,032)	(1,698)	$(13,346)	$138,384

Common Stock · AdditionalPaid-inCapital · Retained Deficit · AccumulatedOtherComprehensive Loss · Treasury Stock · TotalStockholders’Equity
Shares · Amount · Shares · Amount
Balance at December 31, 2024	21,241	$212	$167,287	$(12,752)	$(4,032)	(1,456)	$(12,090)	$138,625
Net loss	—	—	—	(780)	—	—	—	(780)
Other comprehensive income	—	—	—	—	1,000	—	—	1,000
Stock-based compensation	—	—	771	—	—	—	—	771
Acquisition of treasury stock	—	—	—	—	—	(242)	(1,256)	(1,256)
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	(17)	—	24	—	—	—	—	24
Balance at June 30, 2025	21,224	$212	$168,082	$(13,532)	$(3,032)	(1,698)	$(13,346)	$138,384

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Six Months Ended
	June 30,
	2026	2025
Cash flows from operating activities:
Net income (loss)	$751	$(780)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Provision for credit losses	361	153
Depreciation and amortization	4,761	5,494
Deferred income taxes	—	4
(Gain) on disposals of fixed assets	(130)	(8)
Gain on sale of fixed assets located at 50 Enterprise Center Middletown, Rhode Island	—	(1,330)
Compensation expense related to stock-based awards and employee stock purchase plan	717	771
Unrealized currency translation (gain) loss	(104)	915
Changes in operating assets and liabilities:
Accounts receivable	(3,982)	(3,826)
Inventories	3,003	2,695
Prepaid expenses and other current assets	(11,804)	2,455
Other non-current assets	229	297
Accounts payable	2,460	(1,092)
Deferred revenue	137	329
Accrued compensation, product warranty and other	(2,781)	(2,258)
Net cash (used in) provided by operating activities	$(6,382)	$3,819
Cash flows from investing activities:
Capital expenditures	(3,794)	(3,498)
Cash paid for acquisition of intangible asset	(648)	(17)
Proceeds from sale of fixed assets	553	1,200
Proceeds from the sale of fixed assets located at 50 Enterprise Center Middletown, Rhode Island	—	4,926
Net cash (used in) provided by investing activities	$(3,889)	$2,611
Cash flows from financing activities:
Proceeds from stock options exercised and employee stock purchase plan	644	28
Purchase of treasury stock	(2,530)	(1,256)
Net cash used in financing activities	$(1,886)	$(1,228)
Effect of exchange rate changes on cash and cash equivalents	(33)	157
Net (decrease) increase in cash and cash equivalents	(12,190)	5,359
Cash and cash equivalents at beginning of period	69,910	50,572
Cash and cash equivalents at end of period	$57,720	$55,931
Supplemental disclosure of non-cash investing and financing activities:
Amounts in accrued other and accounts payable related to property and equipment additions	$65	$18

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.