KVH Q2 revenue $34.2M (-1% YoY); FY guidance reduced to $133-139M

KVH INDUSTRIES INC DE

2023-Q2 EPS reported $0.05 revenue$67,729,000

Revenue $34.2M down 1% YoY; VSAT airtime +4% to $26.9M.
Net income $0.9M ($0.05 EPS) vs net loss of $0.2M a year ago.
Non-GAAP adjusted EBITDA $4.2M, up from $3.2M in Q2 2022.
FY 2023 guidance lowered: revenue $133-139M, adjusted EBITDA $12-15M.
CEO cites competitive headwinds from LEO services and streaming transition.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KVH INDUSTRIES INC DE reported the quarter ended June 30, 2023 results: revenue $34.2 million, net income $0.9 million, EPS $0.05 per share. Guidance lowered.

Period: the quarter ended June 30, 2023
Revenue: $34.2 million
Net income: $0.9 million
EPS: $0.05 per share
Guidance: lowered
Result: reported results

Exact text from the filing

of the webcast will be available through the company’s website. Second Quarter 2023 Highlights • Total revenues from continuing operations in the second quarter of 2023 were $34.2 million, down 1% from $34.6 million in the second quarter of 2022. • Our VSAT airtime revenue increased $1.1 million, to $26.9 million, or 4%, in the second quarter of 2023 compared to

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Source: SEC EDGAR

accession 0001007587-23-000006

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