KVH通信 2026年季度报告

FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934 500 Wood Street, Unit 320, Bristol, RI 02809(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 May 1, 2026CommonStock,parvalue$0.01pershare19,497,751 KVH INDUSTRIES, INC. AND SUBSIDIARIES Form 10-QINDEX PARTI. FINANCIAL INFORMATIONITEM1.INTERIM FINANCIAL STATEMENTSConsolidated Balance Sheets as of March31, 2026 (unaudited) and December31, 20253Consolidated Statements of Operations for the three months ended March31, 2026 and 2025 (unaudited)4Consolidated Statements of Comprehensive Income (Loss) for the three months ended March31, 2026 and 2025(unaudited)5Consolidated Statements of Stockholders’ Equity for the three months ended March31, 2026 and 2025(unaudited)6Consolidated Statements of Cash Flows for the three months ended March31, 2026 and 2025 (unaudited)7Notes to Consolidated Financial Statements (unaudited)8ITEM2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS23ITEM4.CONTROLS AND PROCEDURES29PARTII. OTHER INFORMATIONITEM2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS30ITEM 5.OTHER INFORMATION30ITEM6.EXHIBITS31SIGNATURE32 PART I. FINANCIAL INFORMATION KVH INDUSTRIES, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS(in thousands, except share and per share amounts) Total comprehensive income (loss) (1) Tax impact was nominal for all periods. See accompanying Notes to Unaudited Consolidated Financial Statements. KVH INDUSTRIES, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY(in thousands, unaudited) 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 maritime 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, KVH expanded its portfolio to include Starlink Local Priority data plans, which is suitable for fixed and mobile uses onland and inland waterways, including lakes and rivers. KVH further expanded its LEO service and hardware portfolio in January 2025 withthe launch of the Eutelsat OneWeb service for maritime applications. In addition, KVH provides, for monthly fixed and per-usage fees,satellite connectivity encompassing broadband internet and Voice over Internet Protocol (VoIP) services, to its TracNet® H-series andTracPhone® V-HTS series customers via KVH’s global high-throughput satellite (HTS) network. Following the July 2022 launch of theKVH ONE® hybrid network and TracNet H-series terminals and the subsequent introduction of the TracNet Coastal cellular/Wi-Fi terminal,KVH began to supplement its satellite-only airtime revenue with revenue from its cellular airtime service. KVH provides this combination ofservices and products in more than 130 countries. The May 2023 introduction of the KVH