KVH reports Q1 revenue $41.1M (-3% YoY), net loss widens to $4.7M; guidance reaffirmed

KVH INDUSTRIES INC DE

2022-Q1 EPS reported -$0.25 revenue$41,094,000

Revenue $41.1M, down 3% YoY; TACNAV sales fell $4.5M to $0.7M; FOG/OEM product sales up 13%.
mini-VSAT airtime revenue increased 12% to $24.0M despite 1% subscriber decline after legacy network shutdown.
GAAP net loss $4.7M ($0.25/share) vs $4.0M ($0.22) in Q1 2021; adjusted EBITDA $1.9M (up from $1.1M).
FY2022 guidance: revenue growth 2-5%, adjusted EBITDA $11M-$15M; restructuring with headcount reduction substantially complete.
Interim CEO Brent Bruun says restructuring should benefit Q2; expects sustained profitable growth from core businesses.

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