<span item_type="fundamental" item_id="32d7b53d393dded4ee15fc391e2dfd62" counter_id="ST/US/KVHI" env="prod"></span><span item_type="announcement" item_id="579784777589527297" env="prod"></span><p>Revenue: As of FY2025 Q3, the actual value is USD 28.45 M, missing the estimate of USD 28.52 M.</p><p>EPS: As of FY2025 Q3, the actual value is USD -0.36, missing the estimate of USD 0.01.</p><p>EBIT: As of FY2025 Q3, the actual value is USD -8.312 M.</p><p></p><h3>Third Quarter 2025 Financial Summary</h3><h4>Revenue</h4><ul><li>Total revenue: $28.5 million, a decrease of 2% compared to $29.0 million in the third quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Service revenue: $25.4 million, an increase of $1.0 million compared to the third quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Product revenue: $3.1 million, a decrease of 33% compared to the third quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h4>Operational Metrics</h4><ul><li>Net loss: $6.9 million, or $0.36 per share, compared to a net loss of $1.2 million, or $0.06 per share, in the third quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Loss from operations: $7.6 million, compared to $2.0 million in the third quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Non-GAAP adjusted EBITDA: $1.4 million, compared to $2.9 million in the third quarter of 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h4>Cash Flow</h4><ul><li>Net cash generated from the sale of 75 Enterprise Center: $7.8 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h4>Unique Metrics</h4><ul><li>Subscribing vessel count: Approximately 9,000, a record sequential growth of 11%.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h3>Nine Months Ended September 30, 2025 Financial Summary</h3><h4>Revenue</h4><ul><li>Total revenue: $80.5 million, a decrease of 7% compared to $86.9 million for the nine months ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Service revenue: $70.1 million, a decrease of 5% compared to the nine months ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Product revenue: $10.4 million, a decrease of 19% compared to the nine months ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h4>Operational Metrics</h4><ul><li>Net loss: $7.7 million, compared to $6.7 million for the nine months ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Loss from operations: $10.2 million, compared to $8.7 million for the nine months ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>Non-GAAP adjusted EBITDA: $5.0 million, compared to $7.5 million for the nine months ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h4>Cash Flow</h4><ul><li>Cash and cash equivalents: $72.8 million as of September 30, 2025, compared to $50.6 million as of December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h4>Unique Metrics</h4><ul><li>LEO service sales: Represented over 30% of airtime service sales for the nine months ended September 30, 2025, compared to less than 10% for the nine months ended September 30, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>KVH Industries anticipates continued growth in airtime revenue and subscriber count, driven by strategic focus on LEO services and new customer acquisitions.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>The company expects ongoing challenges from increased competition and potential impacts from geopolitical tensions and economic factors.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li><li>KVH Industries plans to relocate operations in early 2026, which may cause potential disruptions.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1007587/000100758725000020/q32025exhibit991.htm"></span></li></ul>

KVH | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 28.45 M