Quarterly ResultMay 6, 2026, 07:02 AM
KVH Industries Q1 Revenue $32.3M, Net Income $0.6M ($0.03 EPS)
AI Summary
KVH Industries reported strong financial results for the first quarter of 2026, with total revenues increasing 27% year-over-year to $32.3 million. The company achieved a net income of $0.6 million, a significant improvement from a net loss of $1.7 million in the prior year's quarter. This growth was primarily driven by a substantial increase in service sales, particularly from LEO services like Starlink and OneWeb, and improved product sales. The company also completed the relocation of its Rhode Island operations.
Key Highlights
- Total revenues increased 27% to $32.3 million in Q1 2026 from $25.4 million in Q1 2025.
- Net income was $0.6 million ($0.03 per share) in Q1 2026, compared to a net loss of $1.7 million ($0.09 per share) in Q1 2025.
- Non-GAAP adjusted EBITDA rose to $2.8 million in Q1 2026 from $1.0 million in Q1 2025.
- Service revenue increased 30% to $28.2 million in Q1 2026, driven by LEO service sales.
- LEO service sales accounted for over 45% of airtime service sales in Q1 2026, up from under 30% in Q1 2025.
- Product revenues increased 10% to $4.2 million in Q1 2026, primarily from OneWeb and Starlink products.
- Completed the migration of Rhode Island operations to a new facility in Bristol, Rhode Island.