Satellite company KVH Q2 revenue down 7% on US Coast Guard contract downgrade

KVH Industries

07/08/2025 12:15

Overview

KVH Q2 2025 net income $0.9 mln, up from $2.4 mln loss last year

Revenue for Q2 2025 fell 7% yr/yr due to Coast Guard contract downgrade

Adjusted EBITDA beats analyst expectations

Outlook

KVH sees increased competition from low-cost LEO alternatives

Company notes LEO services now over 30% of airtime sales

KVH anticipates continued growth in maritime airtime subscribers

Company highlights transition to LEO-focused service offerings

Result Drivers

LEO TRANSITION - KVH's shift to LEO cservices drove a sequential increase in revenue, offsetting declines in legacy GEO services

SUBSCRIBER GROWTH - Maritime airtime subscribers grew 8% sequentially, driven by demand for Starlink and OneWeb services

COST REDUCTION - Operating expenses decreased by $2.3 mln, primarily due to lower salaries and benefits

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.05
Q2 Adjusted EBITDA
Beat
$2.70 mln
$2.38 mln (1 Analyst)
Q2 Operating Expenses
$9.50 mln


Press Release: ID:nGNX7s3PKm

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)