10-Q · November 6, 2025
KVH reported Q3 net sales of $28.45M, down slightly from $28.97M a year ago, while gross margin collapsed to 6.7% from ~32.0% a year earlier, driving an operating loss of $7.63M and diluted EPS of $(0.36). Cash…
Earnings analysis · 10-Q
KVHI earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
KVH Industries reported strong Q1 2026 results, with revenue of $32.318 million, exceeding estimates by 5.75%, and markedly improving from $25.414 million in the prior year—an increase of 27%. Diluted EPS came in at…
Read full summary
KVH Industries reported strong Q1 2026 results, with revenue of $32.318 million, exceeding estimates by 5.75%, and markedly improving from $25.414 million in the prior year—an increase of 27%. Diluted EPS came in at $0.03, compared to an estimated loss of $0.02, showcasing a significant turnaround in profitability driven by robust service sales growth, particularly in LEO services.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.03
What stood out
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Revenue Surged 27% YoY
Total revenue reached $32.318 million in Q1 2026, up from $25.414 million in Q1 2025.
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Strong Service Sales Growth
Service sales jumped 30% year-over-year to $28.154 million, driven mainly by an increase in LEO service sales.
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Profitability Improvement
Diluted EPS improved to $0.03 versus an estimated loss of $0.02.
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Cost Management
Operating expenses decreased as a percentage of sales, showcasing enhanced efficiency.
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Cash Position Remains Strong
End of Q1 2026 cash and cash equivalents totaled $59.2 million.
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Share Buyback Program Expanded
The repurchase program increased from $10 million to $15 million.
What to watch
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Decreased VSAT Service Sales
Substantial decrease in VSAT service sales is impacting overall revenue growth.
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Increased Competition
Emerging LEO service competition could dilute market share in satellite communications.
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Manufacturing Wind-Down
Ongoing wind-down of manufacturing activities may affect product availability.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · August 7, 2025
KVH reported Q2 net sales of $26.623M and delivered net income of $0.93M (diluted EPS $0.05), reversing a year-ago loss. Gross margin expanded to 34.3% while operating loss narrowed to $(370)k, supported by positive…
10-Q · May 7, 2025
KVH reported Q1 net sales of $25.414M and a net loss of $1.71M (EPS $(0.09)), with revenue down 13% YoY driven by a $3.4M decline in service sales (including a $2.5M U.S. Coast Guard contract downgrade). Management…
10-Q · November 7, 2024
KVH reported Q3 net sales of $28,971,000 and a net loss of $1,199,000 (EPS $(0.06)), with operating loss narrowing to $(1,991,000) versus $(5,150,000) a year earlier. Service revenue declined while product revenue grew;…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.