KVH Q4 net income $0.6M vs loss; guides FY23 rev $145-155M, adj EBITDA $17-23M

KVH INDUSTRIES INC DE

Q4 revenue $36.0M (+2% YoY); service revenue $28.8M (+7% YoY).
Q4 GAAP net income $0.6M ($0.03/share) vs year-ago loss $2.7M ($0.15 loss).
Q4 adj EBITDA $4.3M vs $0.7M year ago; full-year adj EBITDA $13.2M vs $0.1M.
FY22 revenue $138.9M (+4% YoY); full-year net loss $3.9M vs $11.5M prior year.
FY23 guidance: revenue $145-155M, service rev growth outpaces product, double-digit subscriber growth, adj EBITDA $17-23M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.6

KVH INDUSTRIES INC DE reported the quarter and full year ended December 31, 2022 results: revenue $138.9 million, net income Net income (loss) from continuing operations of $(3.9) million, EPS $(0.21) per share. Guidance initiated.

Period: the quarter and full year ended December 31, 2022
Revenue: $138.9 million
Net income: Net income (loss) from continuing operations of $(3.9) million
EPS: $(0.21) per share
Guidance: initiated
Result: reported results

Exact text from the filing

decrease in marketing expense. The decrease in salaries and employee benefits was primarily driven by our March 2022 restructuring. Full Year Financial Summary Revenue was $138.9 million for the year ended December 31, 2022, an increase of 4% compared to $133.9 million for the year ended December 31, 2021. Product revenues for the year ended December 31, 2022,

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Source: SEC EDGAR

accession 0001007587-23-000001

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