KVHI

EX-99.1

2 q12026exhibit991.htm

EX-99.1

Document

Exhibit 99.1

FOR IMMEDIATE RELEASE

Contact:KVH Industries, Inc. Anthony Pike 401-847-3327 IR@kvh.com

KVH Industries Reports First Quarter 2026 Results

BRISTOL, RI, May 6, 2026 — KVH Industries, Inc. (Nasdaq: KVHI), reported financial results for the quarter ended March 31, 2026 today. The company will hold a conference call to discuss these results at 9:00 a.m. ET today, which can be accessed at investors.kvh.com. Following the call, a replay of the webcast will be available through the company’s website.

First Quarter 2026 Highlights

•Total revenues in the first quarter of 2026 increased sequentially from the fourth quarter of 2025 by $1.8 million, or 6%, to $32.3 million. Total revenues increased by 27% in the first quarter of 2026 from $25.4 million in the first quarter of 2025, due to a $6.5 million increase in service sales and a $0.4 million increase in product sales.

•As expected, due to seasonality, service revenue decreased sequentially from the fourth quarter of 2025 by $0.1 million, or less than 1%, to $28.2 million in the first quarter of 2026. Service revenue increased by $6.5 million, or 30%, in the first quarter of 2026 compared to the first quarter of 2025.

•We completed the migration of our Rhode Island operations from Middletown, Rhode Island to our new facility in Bristol, Rhode Island.

•Net income in the first quarter of 2026 was $0.6 million, or $0.03 per share, compared to a net loss of $1.7 million, or $0.09 per share, in the first quarter of 2025.

•Non-GAAP adjusted EBITDA was $2.8 million in the first quarter of 2026, compared to $1.0 million in the first quarter of 2025.

Commenting on the company’s first quarter results, Brent C. Bruun, KVH’s Chief Executive Officer, said, “The LEO market continues to expand, and our first-quarter results demonstrate that KVH is well positioned to capitalize on this trend. Strong Starlink adoption has driven record connectivity unit shipments and sustained subscriber growth, underscoring the strength of our multi-orbit platform and the confidence our customers place in KVH.”

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Financial Highlights - (in millions, except per share data)

Three Months Ended

March 31,

20262025

GAAP Results

Revenue$32.3 $25.4

Loss from operations$(0.1)$(2.2)

Net income (loss)$0.6 $(1.7)

Net income (loss) per share$0.03 $(0.09)

Non-GAAP Adjusted EBITDA$2.8 $1.0

First Quarter Financial Summary

Revenue was $32.3 million for the first quarter of 2026, an increase of 27% compared to $25.4 million in the first quarter of 2025.

Service revenues for the first quarter were $28.2 million, an increase of $6.5 million compared to the first quarter of 2025. The increase in service sales was primarily due to a $6.2 million increase in our airtime service sales, which reflected a substantial increase in LEO service sales driven by an increase in subscribers for both Starlink and OneWeb. This increase in LEO service sales was partially offset by a substantial decrease in VSAT service sales, which was driven primarily by a decrease in VSAT subscribers. For the three months ended March 31, 2026, LEO service sales represented over 45% of airtime service sales, as compared to less than 30% for the three months ended March 31, 2025. The increase in LEO service sales as a percentage of total airtime sales resulted from both the substantial increase in LEO service sales and the substantial decrease in VSAT service sales. Competing LEO service providers have continued to expand their product and service offerings, further heightening competition in the global leisure segment and in commercial and government markets.

Product revenues for the first quarter were $4.2 million, an increase of 10% compared to the first quarter of 2025. The increase in product sales was primarily due to a $0.7 million increase in OneWeb product sales and a $0.3 million increase in Starlink product sales, partially offset by a $0.5 million decrease in TracVision product sales and a $0.3 million decrease in VSAT Broadband product sales. Competition from low-cost alternatives to VSAT, which include streaming capabilities, has had a significant impact on sales of our TracVision products.

Our operating expenses remained flat period-over-period at $9.7 million for both the first quarter of 2026 and 2025, primarily due to a $0.1 million decrease in warranty expense, a $0.1 million decrease in dues and subscriptions expense and a $0.1 million decrease in facilities expense, offset by a $0.2 million increase in salaries, benefits and taxes and a $0.2 million increase in computer software and maintenance expenses.

Other Recent Announcement

•March 23, 2026 – MOL Chemical Tankers Signs Up for KVH Link

Conference Call Details

KVH Industries will host a conference call today at 9:00 a.m. ET through the company’s website. The conference call can be accessed at investors.kvh.com and listeners are welcome to submit questions pertaining to the earnings re

8-K 1 kvhq420258-k.htm 8-K

Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 10, 2026

KVH Industries, Inc. (Exact Name of Registrant as Specified in Charter)

Delaware 0-28082 05-0420589

(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

75 Enterprise Center, Middletown, RI 02842 (Address of Principal Executive Offices) (Zip Code)

(401) 847-3327 (Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Each Exchange on which Registered The Nasdaq Stock Market LLC

Common Stock, par value $0.01 per shareKVHI(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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 complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On March 10, 2026, we issued a press release announcing our financial results for the quarter and year ended December 31, 2025 and forward-looking statements. The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information in this Item 2.02 of Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (or the Securities Act), or the Exchange Act, regardless of any general incorporation language in such filing.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d)Exhibits

ExhibitNo.Description 99.1March 10, 2026 press release entitled "KVH Industries Reports Fourth Quarter and Full Year 2025 Results" (furnished pursuant to Item 2.02)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KVH INDUSTRIES, INC.

Date: March 10, 2026BY:/s/ Anthony F. Pike Anthony F. Pike Chief Financial Officer

EXHIBIT INDEX

ExhibitNo.Description 99.1 March 10, 2026 press release entitled "KVH Industries Reports Fourth Quarter and Full Year 2025 Results" (furnished pursuant to Item 2.02)

kvhi-202511060001007587false00010075872025-11-062025-11-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 6, 2025

KVH Industries, Inc. (Exact Name of Registrant as Specified in Charter)

Delaware 0-28082 05-0420589

(State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)

75 Enterprise Center, Middletown, RI 02842 (Address of Principal Executive Offices) (Zip Code)

(401) 847-3327 (Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading Symbol(s)Name of Each Exchange on which Registered The Nasdaq Stock Market LLC

Common Stock, par value $0.01 per shareKVHI(Nasdaq Global Select Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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 complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On November 6, 2025, we issued a press release announcing our financial results for the third quarter ended September 30, 2025 and forward-looking statements. The press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.

The information in this Item 2.02 of Form 8-K and the Exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (or the Securities Act), or the Exchange Act, regardless of any general incorporation language in such filing.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d)Exhibits

Exhibit No.Description 99.1November 6, 2025 press release entitled "KVH Industries Reports Third Quarter 2025 Results" (furnished pursuant to Item 2.02)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KVH INDUSTRIES, INC.

Date: November 6, 2025BY:/s/    Anthony F. Pike Anthony F. Pike Chief Financial Officer

EXHIBIT INDEX

Exhibit No.Description 99.1 November 6, 2025 press release entitled "KVH Industries Reports Third Quarter 2025 Results" (furnished pursuant to Item 2.02)