Earnings ·
KVH reports Q3 revenue of $38.4M, up 35%, and narrows full-year outlook
KVHIKvh Industries Inc \de\
KVH Industries reported third-quarter revenue of $38.4 million, a 35% increase from the prior year period, driven by growth in service revenue and LEO terminal sales. The company posted a net loss of $0.6 million, or $0.03 per share, compared to a $6.9 million loss in the same quarter last year. Non-GAAP adjusted EBITDA rose 188% to $3.9 million. KVH narrowed its full-year revenue outlook to $137–$143 million and raised the low end of its adjusted EBITDA guidance to $13–$15 million. The company also completed a $15 million share repurchase program during the quarter. KVH Industries is a global leader in maritime and mobile connectivity delivered via the KVH ONE network.