KVH Industries Q3 revenue down 13% to $29M; net loss $1.2M, non-GAAP EBITDA $2.9M

KVH INDUSTRIES INC DE

2024-Q3 EPS reported -$0.35 revenue$86,911,000

Total revenue $29.0M, down 13% YoY; net loss $1.2M ($0.06/share) improved from $4.4M loss in Q3 2023.
Airtime revenue fell $4.6M (-17%) to $22.8M; product revenue up 20% to $4.6M, driven by Starlink (+$1.2M).
Non-cash impairment charge of $1.1M on long-lived assets for planned sale of facility.
Non-GAAP adjusted EBITDA $2.9M vs $4.4M a year ago; CEO cites industry disruption and growing LEO/GEO deployments.
Subscribing vessel count up for second consecutive quarter; record antenna shipments for third straight quarter.

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