KVH INDUSTRIES INC DE (KVHI) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
50 ENTERPRISE CENTER MIDDLETOWN, RI 02842 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3663 - Radio and Television Broadcasting and Communications Equipment (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 69,771 | 76,736 | 24,523 | 37,719 | 48,272 | 18,075 | |||
| Cash and cash equivalents | 11,294 | 21,056 | 11,376 | 12,578 | 18,365 | 18,050 | |||
| Short-term investments | 58,477 | 55,680 | 13,147 | 25,141 | 29,907 | 25 | |||
| Net investment in lease, before allowance for credit loss | 3,654 | ✕ | |||||||
| Receivables | 25,670 | 27,427 | 33,648 | 33,687 | 32,891 | 29,663 | |||
| Inventory, net of allowances, customer advances and progress billings | 19,046 | 22,730 | 24,640 | 24,674 | 23,465 | 22,942 | |||
| Inventory | 19,046 | 22,730 | 24,640 | 24,674 | 23,465 | 22,942 | |||
| Prepaid expense | |||||||||
| Contract with customer, asset, after allowance for credit loss | 1,243 | 1,230 | 1,086 | 1,458 | 3,566 | ||||
| Asset, held-for-sale, not part of disposal group | |||||||||
| Other undisclosed current assets | 677 | 3,067 | 3,789 | 3,894 | 3,188 | 3,494 | |||
| Total current assets: | 118,818 | 131,203 | 87,830 | 101,060 | 109,274 | 77,740 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 1,068 | 2,168 | 3,055 | 6,893 | 6,286 | ✕ | |||
| Property, plant and equipment | 47,680 | 53,118 | 60,114 | 56,273 | 53,584 | 53,248 | |||
| Intangible assets, net (including goodwill) | 1,194 | 5,712 | 7,857 | 8,846 | 20,351 | 42,731 | |||
| Goodwill | 5,308 | 6,570 | 6,592 | 15,408 | 32,213 | ||||
| Intangible assets, net (excluding goodwill) | 1,194 | 404 | 1,287 | 2,254 | 4,943 | 10,518 | |||
| Contract with customer, asset, after allowance for credit loss | 3,033 | 3,104 | 2,661 | 3,408 | 6,971 | ||||
| Deferred income tax assets | 256 | 259 | 56 | 73 | 45 | ✕ | |||
| Other noncurrent assets | 3,618 | 5,037 | 6,778 | 7,785 | 6,443 | 6,736 | |||
| Other undisclosed noncurrent assets | 226 | ||||||||
| Total noncurrent assets: | 53,816 | 69,327 | 80,964 | 82,531 | 90,117 | 109,912 | |||
| TOTAL ASSETS: | 172,634 | 200,530 | 168,794 | 183,591 | 199,391 | 187,652 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 11,834 | 32,304 | 26,210 | 25,153 | 28,401 | 33,857 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | 7,053 | 7,156 | 5,637 | 5,167 | ||
| Accounts payable | 4,780 | 20,449 | 11,265 | 11,400 | 15,031 | 17,726 | |||
| Accrued liabilities | 7,054 | 11,855 | 7,892 | 6,597 | 7,733 | 10,964 | |||
| Deferred revenue | 1,774 | 3,108 | 3,989 | 4,445 | 4,443 | ✕ | |||
| Debt | 22 | 261 | 5,610 | 2,831 | 9,928 | ||||
| Liability for uncertainty in income taxes | 673 | 637 | 592 | 560 | 521 | 1,116 | |||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 9,193 | ||
| Other undisclosed current liabilities | 10,691 | 2,797 | 2,830 | 5,020 | 2,194 | 1,916 | |||
| Total current liabilities: | 24,972 | 38,868 | 33,882 | 40,788 | 38,390 | 56,010 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 1,224 | 5,139 | 3,482 | 19,437 | |||||
| Long-term debt, excluding current maturities | 1,935 | 19,437 | |||||||
| Liabilities, other than long-term debt | 290 | 5,006 | 4,711 | 5,780 | 7,530 | 10,990 | |||
| Deferred revenue | 4,315 | 4,466 | 4,688 | 5,476 | ✕ | ||||
| Contract with customer, liability | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 9,070 | ||
| Deferred income tax liabilities | 1 | 55 | 215 | 418 | 762 | ✕ | |||
| Other liabilities | 30 | 674 | 1,292 | 1,920 | |||||
| Operating lease, liability | 289 | 636 | 1,224 | 3,204 | 3,482 | ✕ | |||
| Other undisclosed noncurrent liabilities | 1,700 | ||||||||
| Total noncurrent liabilities: | 290 | 5,006 | 5,935 | 10,919 | 11,012 | 32,127 | |||
| Total liabilities: | 25,262 | 43,874 | 39,817 | 51,707 | 49,402 | 88,137 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 147,372 | 156,656 | 128,977 | 131,884 | 149,989 | 99,515 | |||
| Common stock | 203 | 199 | 194 | 190 | |||||
| Treasury stock, value | (12,090) | (11,851) | (11,851) | (11,851) | (11,461) | (10,164) | |||
| Additional paid in capital | 165,140 | 160,475 | 156,199 | 149,170 | 144,485 | 139,617 | |||
| Accumulated other comprehensive loss | (4,185) | (4,110) | (3,409) | (3,232) | (2,767) | (14,731) | |||
| Retained earnings (accumulated deficit) | (1,704) | 11,936 | (12,165) | (2,402) | 19,538 | (15,397) | |||
| Other undisclosed equity, attributable to parent | 211 | 206 | |||||||
| Total equity: | 147,372 | 156,656 | 128,977 | 131,884 | 149,989 | 99,515 | |||
| TOTAL LIABILITIES AND EQUITY: | 172,634 | 200,530 | 168,794 | 183,591 | 199,391 | 187,652 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 132,379 | 138,878 | 171,767 | 158,733 | 157,893 | 170,761 | ||
| Cost of revenue | (91,737) | (82,383) | (109,740) | (98,637) | (103,105) | (95,379) | ||
| Gross profit: | 40,642 | 56,495 | 62,027 | 60,096 | 54,788 | 75,382 | ||
| Operating expenses | (57,987) | (62,149) | (79,973) | (83,033) | (75,884) | (82,546) | ||
| Operating loss: | (17,345) | (5,654) | (17,946) | (22,937) | (21,096) | (7,164) | ||
| Nonoperating income | 2,242 | 2,279 | 8,131 | 1,189 | 2,104 | 1,290 | ||
| Investment income, nonoperating | 3,646 | 1,507 | 886 | 996 | 2,003 | 635 | ||
| Other nonoperating income (expense) | (1,404) | 772 | 7,245 | 193 | 101 | 655 | ||
| Interest and debt expense | (1) | (3) | (56) | (18) | (1,020) | (1,793) | ||
| Other undisclosed loss from continuing operations before equity method investments, income taxes | ||||||||
| Loss from continuing operations before income taxes: | (15,104) | (3,378) | (9,871) | (21,766) | (20,012) | (7,667) | ||
| Income tax expense (benefit) | (318) | (546) | 108 | (174) | 4,003 | (565) | ||
| Loss from continuing operations: | (15,422) | (3,924) | (9,763) | (21,940) | (16,009) | (8,232) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (9,763) | (21,940) | (16,009) | (8,232) | |
| Net loss: | (15,422) | (3,924) | (9,763) | (21,940) | (16,009) | (8,232) | ||
| Other undisclosed net income attributable to parent | 28,025 | 49,264 | ||||||
| Net income (loss) available to common stockholders, diluted: | (15,422) | 24,101 | (9,763) | (21,940) | 33,255 | (8,232) | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net loss: | (15,422) | (3,924) | (9,763) | (21,940) | (16,009) | (8,232) | ||
| Other comprehensive income (loss) | (9,940) | (22,405) | 45,219 | (11,646) | ||||
| Comprehensive income (loss): | (15,422) | (3,924) | (19,703) | (44,345) | 29,210 | (19,878) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (75) | 27,324 | ||||||
| Comprehensive income (loss), net of tax, attributable to parent: | (15,497) | 23,400 | (19,703) | (44,345) | 29,210 | (19,878) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.