KVH Q4 net loss $12.2M on $31.5M revenue; guides 2024 rev $125-135M

KVH INDUSTRIES INC DE

Q4 revenue fell 13% YoY to $31.5M; net loss of $12.2M ($0.63/share) vs net income $0.8M a year ago.
Full-year 2023 revenue $132.4M (-5% YoY); net loss $15.4M ($0.81/share) vs $4.0M loss in 2022.
Records $5.2M inventory write-down and $3.6M purchase-order charge as it winds down manufacturing in RI.
Non-GAAP adjusted EBITDA Q4 $2.3M vs $4.5M; full year $14.3M vs $13.2M.
FY 2024 guidance: revenue $125M–$135M, adjusted EBITDA $11M–$17M amid market transition.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KVH INDUSTRIES INC DE updated its the quarter and full year ended December 31, 2023 guidance (reaffirmed).

Period: the quarter and full year ended December 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On March 15, 2024, we issued a press release announcing our financial results for the quarter and year ended December 31, 2023 and forward-looking statements.

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