---
title: "KVH | 8-K: FY2025 Q3 Revenue Misses Estimate at USD 28.45 M"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/264671015.md"
datetime: "2025-11-06T13:38:50.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/264671015.md)
  - [en](https://longbridge.com/en/news/264671015.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/264671015.md)
---

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

Revenue: As of FY2025 Q3, the actual value is USD 28.45 M, missing the estimate of USD 28.52 M.

EPS: As of FY2025 Q3, the actual value is USD -0.36, missing the estimate of USD 0.01.

EBIT: As of FY2025 Q3, the actual value is USD -8.312 M.

### Third Quarter 2025 Financial Summary

#### Revenue

-   Total revenue: $28.5 million, a decrease of 2% compared to $29.0 million in the third quarter of 2024.
-   Service revenue: $25.4 million, an increase of $1.0 million compared to the third quarter of 2024.
-   Product revenue: $3.1 million, a decrease of 33% compared to the third quarter of 2024.

#### Operational Metrics

-   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.
-   Loss from operations: $7.6 million, compared to $2.0 million in the third quarter of 2024.
-   Non-GAAP adjusted EBITDA: $1.4 million, compared to $2.9 million in the third quarter of 2024.

#### Cash Flow

-   Net cash generated from the sale of 75 Enterprise Center: $7.8 million.

#### Unique Metrics

-   Subscribing vessel count: Approximately 9,000, a record sequential growth of 11%.

### Nine Months Ended September 30, 2025 Financial Summary

#### Revenue

-   Total revenue: $80.5 million, a decrease of 7% compared to $86.9 million for the nine months ended September 30, 2024.
-   Service revenue: $70.1 million, a decrease of 5% compared to the nine months ended September 30, 2024.
-   Product revenue: $10.4 million, a decrease of 19% compared to the nine months ended September 30, 2024.

#### Operational Metrics

-   Net loss: $7.7 million, compared to $6.7 million for the nine months ended September 30, 2024.
-   Loss from operations: $10.2 million, compared to $8.7 million for the nine months ended September 30, 2024.
-   Non-GAAP adjusted EBITDA: $5.0 million, compared to $7.5 million for the nine months ended September 30, 2024.

#### Cash Flow

-   Cash and cash equivalents: $72.8 million as of September 30, 2025, compared to $50.6 million as of December 31, 2024.

#### Unique Metrics

-   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.

### Outlook / Guidance

-   KVH Industries anticipates continued growth in airtime revenue and subscriber count, driven by strategic focus on LEO services and new customer acquisitions.
-   The company expects ongoing challenges from increased competition and potential impacts from geopolitical tensions and economic factors.
-   KVH Industries plans to relocate operations in early 2026, which may cause potential disruptions.

### 相关股票

- [KVH (KVHI.US)](https://longbridge.com/zh-CN/quote/KVHI.US.md)

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