earnings
confidence high
sentiment negative
materiality 0.65
KVH Q2 revenue falls 15% to $28.7M; net loss of $2.4M vs prior-year profit
KVH INDUSTRIES INC DE
2024-Q2 EPS reported
-$0.29
revenue$57,940,000
- Total revenue $28.7M, down 15% YoY; airtime revenue decreased $3.9M to $23.0M.
- Net loss of $2.4M ($0.12 loss per share) vs net income of $0.8M in Q2 2023.
- Non-GAAP adjusted EBITDA $2.6M, down from $4.0M in prior-year quarter.
- Staged wind-down of RI manufacturing; $1.2M employee termination costs recorded.
- Reorganization expected to yield $5.0M annualized operating expense savings.