KVHI · Kvh Industries Inc \de\ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $32.32M | - | $28.45M | $26.62M | $25.41M | - | $28.97M | $28.67M | $29.27M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $726.0K | - | $969.0K | $916.0K | $1.19M | - | $1.41M | $2.33M | $3.04M | - |
| SG&A | $3.88M | - | $3.69M | $3.58M | $3.54M | - | $3.79M | $4.13M | $5.29M | - |
| Total Operating Expenses | $32.44M | - | $36.08M | $26.99M | $27.66M | - | $30.96M | $31.56M | $33.06M | - |
| D&A | $2.44M | - | $2.52M | $2.50M | $2.89M | - | $3.16M | $3.64M | $3.25M | - |
| Operating Income | ($118.0K) | - | ($7.63M) | ($370.0K) | ($2.24M) | - | ($1.99M) | ($2.89M) | ($3.80M) | - |
| Interest Expense | $0 | - | $0 | - | - | - | $0 | - | - | - |
| Income Tax | $125.0K | - | $16.0K | $105.0K | $25.0K | - | $51.0K | ($3.0K) | $78.0K | - |
| Net Income | $588.0K | - | ($6.93M) | $930.0K | ($1.71M) | - | ($1.20M) | ($2.38M) | ($3.16M) | - |
| EPS - Basic | $0.03 | - | ($0.36) | $0.05 | ($0.09) | - | ($0.06) | ($0.12) | ($0.16) | - |
| EPS - Diluted | $0.03 | - | ($0.36) | $0.05 | ($0.09) | - | ($0.06) | ($0.12) | ($0.16) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $59.15M | $69.91M | $72.80M | $55.93M | $48.60M | $50.57M | $14.40M | $10.36M | $11.44M | $11.29M |
| Accounts Receivable | $28.81M | $25.05M | $24.30M | $25.35M | $23.20M | $21.62M | $24.76M | $27.33M | $25.96M | $25.67M |
| Inventory | $13.22M | $14.86M | $13.39M | $20.26M | $21.98M | $22.95M | $25.20M | $22.71M | $19.09M | $19.05M |
| Accounts Payable | $8.91M | $4.50M | $4.01M | $3.23M | $3.35M | $4.32M | $10.20M | $9.62M | $6.95M | $4.78M |
| Current Assets | $121.07M | $117.80M | $119.70M | $123.00M | $121.58M | $122.58M | $131.67M | $118.49M | $115.92M | $118.82M |
| Total Assets | $154.56M | $151.50M | $150.28M | $152.04M | $151.43M | $155.08M | $166.72M | $168.90M | $168.36M | $172.63M |
| Current Liabilities | $19.37M | $16.67M | $15.21M | $13.09M | $13.06M | $15.87M | $23.61M | $25.10M | $22.89M | $24.97M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $23.04M | $20.52M | $19.23M | $13.66M | $13.62M | $16.46M | $24.02M | $25.52M | $23.30M | $25.26M |
| Stockholders' Equity | $131.53M | $130.98M | $131.05M | $138.38M | $137.81M | $138.63M | $142.70M | $143.38M | $145.07M | $147.37M |
| Retained Earnings | ($19.55M) | ($20.14M) | ($20.47M) | ($13.53M) | ($14.46M) | ($12.75M) | ($8.44M) | ($7.24M) | ($4.87M) | ($1.70M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($8.26M) | - | - | - | ($1.28M) | - | - | - | ($792.0K) | - |
| Investing Cash Flow | ($2.36M) | - | - | - | ($557.0K) | - | - | - | $871.0K | - |
| Financing Cash Flow | ($114.0K) | - | - | - | ($162.0K) | - | - | - | $96.0K | - |
| CapEx | $2.59M | - | - | - | $1.15M | - | - | - | $2.40M | - |
| Free Cash Flow | ($10.85M) | - | - | - | ($2.43M) | - | - | - | ($3.19M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -0.4% | - | -26.8% | -1.4% | -8.8% | - | -6.9% | -10.1% | -13.0% | - |
| EBITDA margin | 7.2% | - | -17.9% | 8.0% | 2.5% | - | 4.0% | 2.6% | -1.9% | - |
| Net margin | 1.8% | - | -24.4% | 3.5% | -6.7% | - | -4.1% | -8.3% | -10.8% | - |
| Free cash flow margin | -33.6% | - | - | - | -9.5% | - | - | - | -10.9% | - |
| FCF / Net income | -18.45 | - | - | - | 1.42 | - | - | - | 1.01 | - |
| R&D / Revenue | 2.2% | - | 3.4% | 3.4% | 4.7% | - | 4.9% | 8.1% | 10.4% | - |
| SG&A / Revenue | 12.0% | - | 13.0% | 13.4% | 13.9% | - | 13.1% | 14.4% | 18.1% | - |
| Effective tax rate | 17.5% | - | - | 10.1% | - | - | - | - | - | - |
| Return on assets | 0.4% | - | -4.6% | 0.6% | -1.1% | - | -0.7% | -1.4% | -1.9% | - |
| Return on equity | 0.4% | - | -5.3% | 0.7% | -1.2% | - | -0.8% | -1.7% | -2.2% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 6.25 | 7.07 | 7.87 | 9.39 | 9.31 | 7.72 | 5.58 | 4.72 | 5.06 | 4.76 |
| Quick ratio | 5.57 | 6.18 | 6.99 | 7.85 | 7.63 | 6.28 | 4.51 | 3.82 | 4.23 | 4.00 |
| Cash ratio | 3.05 | 4.19 | 4.79 | 4.27 | 3.72 | 3.19 | 0.61 | 0.41 | 0.50 | 0.45 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.18 | 1.16 | 1.15 | 1.10 | 1.10 | 1.12 | 1.17 | 1.18 | 1.16 | 1.17 |
| Liabilities / Assets | 0.15 | 0.14 | 0.13 | 0.09 | 0.09 | 0.11 | 0.14 | 0.15 | 0.14 | 0.15 |
| Efficiency | ||||||||||
| Asset turnover | 0.21 | - | 0.19 | 0.18 | 0.17 | - | 0.17 | 0.17 | 0.17 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 325d | - | 312d | 348d | 333d | - | 312d | 348d | 324d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 298.7x | - | - | 106.6x | - | - | - | - | - | - |
| P / B | 1.3x | - | 0.8x | 0.7x | 0.7x | - | 0.7x | 0.6x | 0.7x | - |
| P / S | 5.4x | - | 3.8x | 3.9x | 4.1x | - | 3.2x | 3.1x | 3.4x | - |
| EV / EBITDA | 49.4x | - | - | 22.4x | 84.5x | - | 67.8x | 106.6x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 27.2% | - | -1.8% | -7.1% | -13.2% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | -6.8% | -14.0% | -14.8% | - | -12.3% | -12.9% | -7.2% | - |
| Revenue CAGR (5y) | -2.4% | - | -7.1% | -6.3% | 14.0% | - | -5.9% | -5.8% | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 94.7% | - | -283.3% | 87.2% | 40.9% | - | 60.4% | - | -593.1% | - |
| Net income growth (YoY) | - | - | -478.3% | - | 45.9% | - | 71.8% | - | -26258.3% | - |
| EPS growth (YoY) | - | - | -500.0% | - | 43.8% | - | 72.7% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -347.2% | - | - | - | 24.0% | - | - | - | 64.1% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -4.6% | -5.5% | -8.2% | -3.5% | -5.0% | -5.9% | -9.1% | -10.8% | -8.1% | -5.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$111.01M totalReportable Segment$111.01M · 100.0%
Product / service
$111.01M totalService$98.41M · 88.6%
Product$12.60M · 11.4%
Peer comparison
Same SIC group: Communications Services, NEC
Comparing KVH INDUSTRIES INC \DE\ against the 5 most active filers in the same SIC group.