KVH Industries, Inc. (KVHI) financial statements (2022 and earlier)

Company profile

Business Address 50 ENTERPRISE CENTER
MIDDLETOWN, RI 02842
State of Incorp. DE
Fiscal Year End December 31
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)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments24,52327,02634,36839,112 40,651
Cash and cash equivalents11,3769,8809,22313,969 18,149
Short-term investments13,14717,14625,14525,143 22,502
Net investment in lease 3,9623,9244,354  
Receivables33,64831,95532,99530,033 31,495
Inventory, net of allowances, customer advances and progress billings24,64024,63922,30022,773 24,663
Inventory24,64024,63922,30022,773 24,663
Contract with customer, asset1,2301,0791,1491,211 1,323
Other undisclosed current assets3,789866203153 3,394
Total current assets:87,83089,52794,93997,636 101,526
Noncurrent Assets
Operating lease, right-of-use asset3,0553,6094,4925,346 3,858
Property, plant and equipment60,11459,96459,10257,111 55,884
Intangible assets, net (including goodwill)7,8578,0248,3828,622 19,284
Goodwill6,5706,5626,6226,611 15,146
Intangible assets, net (excluding goodwill)1,2871,4621,7602,011 4,138
Contract with customer, asset, net3,1042,3222,4152,153 2,780
Deferred income tax assets56353535 35
Other noncurrent assets6,7786,9067,1877,352 7,859
Total noncurrent assets:80,96480,86081,61380,619 89,700
TOTAL ASSETS:168,794170,387176,552178,255 191,226
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities26,21023,83226,84023,935 26,717
Accounts payable11,2659,09911,8098,194 11,361
Accrued liabilities7,8928,0287,9828,882 8,167
Employee-related liabilities7,0536,7057,0496,859 7,189
Deferred revenue3,9894,1284,2454,531 4,170
Debt2612607,1876,411 5,769
Liability for uncertainty in income taxes592604589574 561
Other undisclosed current liabilities2,8303,1703,8404,348 1,516
Total current liabilities:33,88231,99442,70139,799 38,733
Noncurrent Liabilities
Long-term debt and lease obligation1,2241,7002,1143,275 5,671
Long-term debt, excluding current maturities   775 3,091
Operating lease, liability1,2241,7002,1142,500 2,580
Liabilities, other than long-term debt4,7114,7234,8614,612 6,370
Deferred revenue4,4664,2524,3144,001 4,781
Deferred income tax liabilities215375386384 760
Other liabilities3096161227 829
Total noncurrent liabilities:5,9356,4236,9757,887 12,041
Total liabilities:39,81738,41749,67647,686 50,774
Stockholders' equity
Stockholders' equity attributable to parent128,977131,970126,876130,569 140,452
Common stock203203202202 197
Treasury stock, value(11,851)(11,851)(11,851)(11,851) (11,851)
Additional paid in capital156,199155,041153,596151,657 147,146
Accumulated other comprehensive loss(3,409)(3,338)(2,968)(3,009) (4,275)
Retained earnings (accumulated deficit)(12,165)(8,085)(12,103)(6,430) 9,235
Total stockholders' equity:128,977131,970126,876130,569 140,452
TOTAL LIABILITIES AND EQUITY:168,794170,387176,552178,255 191,226

Income statement (P&L) ($ in thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
Revenues43,12842,98443,36342,292(114,606)41,112
Cost of revenue(29,555)(27,738)(27,972)(25,740) (25,187)
Gross profit:13,57315,24615,39116,552 15,925
Operating expenses(18,881)(18,475)(21,193)(20,159) (16,428)
Operating loss:(5,308)(3,229)(5,802)(3,607) (503)
Nonoperating income (expense)1,1837,283221(556) (141)
Investment income, nonoperating213218222233 229
Other nonoperating income (expense)9707,065(1)(789) (370)
Interest and debt expense(4)(20)(14)(18) (2)
Income (loss) from continuing operations before income taxes:(4,129)4,034(5,595)(4,181) (646)
Income tax expense (benefit)49(16)(78)153 109
Net income (loss) available to common stockholders, diluted:(4,080)4,018(5,673)(4,028) (537)

Comprehensive Income ($ in thousands)

12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
12/31/2020
Q4
9/30/2020
Q3
Net income (loss):(4,080)4,018(5,673)(4,028) (537)
Other undisclosed comprehensive loss(9,940)     
Comprehensive income (loss):(14,020)4,018(5,673)(4,028) (537)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent106(370)41223 1,102
Comprehensive income (loss), net of tax, attributable to parent:(13,914)3,648(5,632)(3,805) 565

Statements sources

The financial statements are based on the company's filings with the 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.

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