KVH通信 2025年季度报告

75 Enterprise Center,Middletown,RI02842(Address of Principal Executive Offices) (Zip Code)(401)847-3327(Registrant’s Telephone Number, Including Area Code) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has beensubject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant wasrequired to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”and “emerging growth company” in Rule12b-2 of the Exchange Act.Largeacceleratedfiler☐Accelerated filer☒ Non-accelerated filer☐ Smallerreportingcompany☒Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. DateClassOutstandingshares November 3, 2025CommonStock,parvalue$0.01pershare19,573,251 KVH INDUSTRIES, INC. AND SUBSIDIARIES Form 10-QINDEX PARTI. FINANCIAL INFORMATIONITEM1.INTERIM FINANCIAL STATEMENTSConsolidated Balance Sheets as of September30, 2025 (unaudited) and December31, 20243Consolidated Statements of Operations for the three and nine months ended September30, 2025 and 2024(unaudited)4Consolidated Statements of Comprehensive Loss for the three and nine months ended September30, 2025 and2024 (unaudited)5Consolidated Statements of Stockholders’ Equity for the three and nine months ended September30, 2025 and2024 (unaudited)6Consolidated Statements of Cash Flows for the nine months ended September30, 2025 and 2024 (unaudited)7Notes to Consolidated Financial Statements (unaudited)8ITEM2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS25ITEM4.CONTROLS AND PROCEDURES33PARTII. OTHER INFORMATIONITEM 1A.RISK FACTORS34ITEM2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS44ITEM 5.OTHER INFORMATION45ITEM6.EXHIBITS45SIGNATURE46 PART I. FINANCIAL INFORMATION KVH INDUSTRIES, INC. AND SUBSIDIARIESNotes to Consolidated Interim Financial Statements(Unaudited, all amounts in thousands except per share amounts) (1)Description of Business KVH Industries, Inc. (together with its subsidiaries, the Company or KVH) develops, markets, and supports mobile connectivity andmanaged services and products for the marine and land markets. KVH’s service sales primarily represent revenue earned from satellite Internet airtime services. In March 2023, KVH began sellingterminals for the Starlink Low Earth Orbit (LEO) service and in September 2023 became a Starlink authorized hardware and airtime reseller.In October 2024, we expanded our portfolio to include Starlink Local Priority data plans, which is primarily for stationary and in-motioncommercial use on land. KVH further expanded its LEO service and hardware portfolio in January 2025 with the launch of OneWeb servicefor maritime applications. In addition, KVH provides, for monthly fixed and per-usage fees, satellite connectivity encompassing broadbandInternet and Voice over Internet Protocol (VoIP) services, to its TracNet® H-series and TracPhone® V-HTS series customers via KVH’sglobal high-throughput satellite (HTS) network. Revenue from our cellular airtime service supplements KVH’s satellite-only airtime revenuefollowing the July 2022 launch of the KVH ONE® hybrid network and TracNet H-series terminals and the subsequent introduction of theTracNet Coastal cellular/Wi-Fi terminal. KVH provides this combination of services and products in more than130countries. The May 2023introduction of the KVH ONE OpenNet Program expanded access to KVH’s global HTS network and airtime services to non-KVHterminals. AgilePlans, KVH’s connectivity as a service offering, is a monthly subscription model that provides global connectivity to commercialmaritime customers. The subscription can include KVH VSAT terminals and data service, Starlink and OneWeb terminals and data service,KVH’s CommBox™ Edge Communications Gateway and associated service licensing, VoIP, daily news, subsidized shipping andin