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KVH Industries Inc \de\ (KVHI) stock

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NASDAQ: KVHI Nasdaq Communications Equipment Next results ~November 5, 2026

C+ Fundamentals grade

KVH Industries Inc \de\ is a US-listed company in the communications equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$14

Revenue-to-maturity cash-flow model

Base case. Range ~$12–$16 across our lower- and higher-growth cases (10.8%–20.8% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

KVH Industries Inc \de\ valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 3 selling8 purchases and 9 sales by directors and officers, last 12 monthsInsider trades
  • Funds67 adding, 32 cuttingOf 25 active managers that changed their stake, 16 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter KVH Industries Inc \de\ files

Where KVH Industries stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $125m, up 15.8% on a year earlier, faster than the 7.2% growth a quarter earlier. Free-cash-flow margin fell to -2.7% from 0.3% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our revenue-to-maturity cash-flow model value is $13.75 a share, against a share price of $7.75.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

KVH Industries Inc \de\'s trailing-twelve-month revenue grew 15.8% year on year, with a free-cash-flow margin of -2.7%. Where it stands out: stock pay as % of revenue of 1.2% ranks 7 of 37 communications equipment companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 15.8% (+8.6pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 15.8% over the last 12 months, against a median of 11.3% for communications equipment companies we cover.
  • Growth speeding up. The growth rate is 8.6 points higher than a quarter earlier.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -7.0%: costs exceed revenue.
  • Burning cash. Free cash flow was -2.7% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 60% and a beta of 1.2 against the S&P 500.
  • Gross margin slipping. Gross margin is down 44.0 points on a year ago.
  • Short interest rising. Shares sold short rose 16% in a month to 8.1% of tradable shares.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.03 against an average estimate of $0.04: missed by 29.0%
Revenue
$34m, up 26.7% on a year earlier
Share reaction
-17.4% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.03

KVH Industries Inc \de\'s figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.3%
  • 1 week+3.0%
  • 1 month+3.4%
  • This year+4.0%
  • 1 year+21.4%
  • 5 years-32.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$125M
Operating margin
-7.0%
Net margin
-4.7%
EPS (TTM, diluted)
$-0.30

Growth

Revenue growth
+15.8%
Change in growth rate
+8.6 pts
Share count change
−0.1%

Cash

Free cash flow (TTM)
-$3.4M
FCF margin
-2.7%
Stock pay % of revenue
1.2%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

KVH Industries Inc \de\ valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value KVH Industries Inc \de\ as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.79 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$14 ~$12–$16 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$0.6 ~$0.2–$1.4 Left out: out of range vs price (0.09x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$6.5 ~$4.7–$36 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$12 ~$6.5–$14 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare KVH Industries Inc \de\ with Communications Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$9.42$11.80$10.35$10.29$11.13$11.35$9.19$10.22$5.26$5.70$6.97$7.25
Market value$149m$187m$170m$176m$194m$201m$167m$196m$101m$111m$135m$141m
+ Net debt (− = net cash)$38m$32m−$35m$14m−$18m−$6m−$11m−$21m−$11m−$51m−$70m−$58m
Enterprise value$187m$218m$135m$190m$176m$195m$156m$174m$89m$60m$65m$83m
Multiples
Price / sales 0.8x1.1x1.1x1.1x1.2x1.3x1.3x1.4x0.8x1.0x1.2x1.1x
Price / earnings 66.2x———5.8x——8.1x————
Price / free cash flow 55.2x14.3x————————13.9x—
EV / EBITDA 11.8x19.4x59.5x85.9x———21.0x—42.4x—92.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

27 /100

Weak moat

How hard KVH Industries Inc \de\'s competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -4.4% of total assets over 10 years.

  • Pricing power 6 / 20

    Gross margin has been a median 40.1%, moving by 16.1 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Operating margin has been a median -8.3%; its worst year was -19.6%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 2 of 10 years, at a median -6.8% of revenue.

  • Discipline 14 / 20

    The diluted share count rose 8.6% over five years; stock-based pay has been a median 2.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (32 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $37m and EPS of $0.03 (range $0.03 to $0.03) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.16 — $140m —
Next $0.75 +369% $185m +32%

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.04 $0.03 −29.0%
Mar 2026 −$0.02 $0.03 +250.0%
Sept 2025 $0.01 −$0.36 −3700.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026

No numeric guidance in KVH Industries Inc \de\'s latest earnings release (filed August 6, 2026). Some companies give their outlook only on the earnings call.

Positioning

Short interest
8.1%
of tradable shares
Days to cover
9.19
at average volume
Short interest, 1 month
+16%
to October 15, 2026
Held by institutions
73%
of shares
Held by insiders
22.8%
of shares
Employees
258
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +21.4%

$5.97 on October 31, 2025 to $7.25

ThenNowEffect
Revenue (last 12 months) $108m $125m +15.8%
P/S multiple 1.1x 1.1x +4.7%
Share count 19m 19m +0.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

Last 3 years +50.1%

$4.83 on November 3, 2023 to $7.25

ThenNowEffect
Revenue (last 12 months) $139m $125m −10.1%
P/S multiple 0.7x 1.1x +66.7%
Share count 19m 19m +0.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
KVHI−19%+11%−49%+8%+22%+4%
Industry peers (median)+18%−18%−12%+33%+1%−6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KVHI42%42%42%42%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KVHI−42%−28%−63%−20%−22%−49%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 72% from February 16, 2021 to July 9, 2024. Getting back needed a 251% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.26 – $11.69
From 52-week high
−38.0%
vs 50-day average
+3.2%
vs 200-day average
−10.5%
Volatility (1 year)
60%
Beta vs S&P 500
1.17

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±5.4%
After a week
9 up, 3 down
typical move ±10.4%
After a month
8 up, 4 down
typical move ±14.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −17.4% +0.5% −18.7% −25.8%
May 6, 2026 +8.2% +1.1% +16.3% −20.3%
March 10, 2026 +11.0% −0.3% +33.1% +50.2%
November 6, 2025 −8.5% −1.0% −12.6% +0.5%
August 7, 2025 +1.1% +0.7% +4.4% +17.4%
May 7, 2025 0.0% +1.1% +5.2% +4.0%
March 6, 2025 −5.7% −1.2% −10.5% −12.5%
November 7, 2024 −1.7% +1.2% +8.7% +27.5%
August 1, 2024 +1.1% −3.3% +0.7% −0.2%
May 6, 2024 +2.2% +1.1% +0.6% +1.6%
March 15, 2024 +6.2% −0.1% +9.9% +6.8%
November 9, 2023 −1.9% +0.8% +3.9% +8.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

KVH Industries Inc \de\ in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) KVH Industries Inc \de\
$100M $110M $120M $130M $140M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $136.9M Revenue (TTM), FY23 Q4: $132.4M Revenue (TTM), FY24 Q1: $127.5M Revenue (TTM), FY24 Q2: $122.6M Revenue (TTM), FY24 Q3: $118.4M Revenue (TTM), FY24 Q4: $113.8M Revenue (TTM), FY25 Q1: $110M Revenue (TTM), FY25 Q2: $107.9M Revenue (TTM), FY25 Q3: $107.4M Revenue (TTM), FY25 Q4: $111M Revenue (TTM), FY26 Q1: $117.9M Revenue (TTM), FY26 Q2: $125M $125M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $136.9M
FY23 Q4 $132.4M
FY24 Q1 $127.5M
FY24 Q2 $122.6M
FY24 Q3 $118.4M
FY24 Q4 $113.8M
FY25 Q1 $110M
FY25 Q2 $107.9M
FY25 Q3 $107.4M
FY25 Q4 $111M
FY26 Q1 $117.9M
FY26 Q2 $125M
Revenue growth, TTM YoY KVH Industries Inc \de\
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -0.8% Revenue growth, TTM YoY, FY23 Q4: -4.6% Revenue growth, TTM YoY, FY24 Q1: -8.8% Revenue growth, TTM YoY, FY24 Q2: -11.8% Revenue growth, TTM YoY, FY24 Q3: -13.5% Revenue growth, TTM YoY, FY24 Q4: -14.0% Revenue growth, TTM YoY, FY25 Q1: -13.7% Revenue growth, TTM YoY, FY25 Q2: -12.0% Revenue growth, TTM YoY, FY25 Q3: -9.3% Revenue growth, TTM YoY, FY25 Q4: -2.5% Revenue growth, TTM YoY, FY26 Q1: 7.2% Revenue growth, TTM YoY, FY26 Q2: 15.8% 15.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -0.8%
FY23 Q4 -4.6%
FY24 Q1 -8.8%
FY24 Q2 -11.8%
FY24 Q3 -13.5%
FY24 Q4 -14.0%
FY25 Q1 -13.7%
FY25 Q2 -12.0%
FY25 Q3 -9.3%
FY25 Q4 -2.5%
FY26 Q1 7.2%
FY26 Q2 15.8%
Operating margin (TTM) KVH Industries Inc \de\
-20% -15% -10% -5% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -3.4% Operating margin (TTM), FY23 Q4: -13.1% Operating margin (TTM), FY24 Q1: -16.4% Operating margin (TTM), FY24 Q2: -19.6% Operating margin (TTM), FY24 Q3: -17.6% Operating margin (TTM), FY24 Q4: -10.4% Operating margin (TTM), FY25 Q1: -9.4% Operating margin (TTM), FY25 Q2: -7.2% Operating margin (TTM), FY25 Q3: -12.5% Operating margin (TTM), FY25 Q4: -10.1% Operating margin (TTM), FY26 Q1: -7.7% Operating margin (TTM), FY26 Q2: -7.0% -7.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -3.4%
FY23 Q4 -13.1%
FY24 Q1 -16.4%
FY24 Q2 -19.6%
FY24 Q3 -17.6%
FY24 Q4 -10.4%
FY25 Q1 -9.4%
FY25 Q2 -7.2%
FY25 Q3 -12.5%
FY25 Q4 -10.1%
FY26 Q1 -7.7%
FY26 Q2 -7.0%
FCF margin (TTM) KVH Industries Inc \de\
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -2.1% FCF margin (TTM), FY23 Q4: -6.1% FCF margin (TTM), FY24 Q1: -1.9% FCF margin (TTM), FY24 Q2: -16.9% FCF margin (TTM), FY24 Q3: -15.5% FCF margin (TTM), FY24 Q4: -18.1% FCF margin (TTM), FY25 Q1: -18.0% FCF margin (TTM), FY25 Q2: 0.3% FCF margin (TTM), FY25 Q3: 7.7% FCF margin (TTM), FY25 Q4: 6.4% FCF margin (TTM), FY26 Q1: -1.1% FCF margin (TTM), FY26 Q2: -2.7% -2.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -2.1%
FY23 Q4 -6.1%
FY24 Q1 -1.9%
FY24 Q2 -16.9%
FY24 Q3 -15.5%
FY24 Q4 -18.1%
FY25 Q1 -18.0%
FY25 Q2 0.3%
FY25 Q3 7.7%
FY25 Q4 6.4%
FY26 Q1 -1.1%
FY26 Q2 -2.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 89 112 113 137 162 173 185 176 160 153 158 159 134 139 132 114 111 125
EBITDA 2 9 4 11 12 12 16 11 2 2 −10 −11 −5 8 −4 1 −0 1
Operating income −1 6 −1 7 6 2 3 −1 −9 −11 −21 −23 −20 −6 −17 −12 −11 −9
Net income −0 8 1 4 5 0 2 −8 −11 −8 33 −22 −10 24 −15 −11 −7 −6
Diluted EPS −$0.01 $0.56 $0.06 $0.24 $0.30 $0.00 $0.14 −$0.47 −$0.67 −$0.48 $1.90 −$1.24 −$0.54 $1.29 −$0.81 −$0.57 −$0.38 −$0.30
Growth (year on year)
Revenue — +26.0% +0.3% +21.8% +18.4% +6.3% +7.0% −4.6% −9.1% −4.4% +3.2% +0.5% −15.6% +3.6% −4.6% −14.0% −2.5% +15.8%
EBITDA — +366.9% −59.9% +196.9% +8.8% −2.1% +33.7% −29.4% −79.8% — — — — — −147.0% — — −76.3%
Operating income — — −111.0% — −6.1% −68.8% — — — — — — — — — — — —
Net income — — −89.6% — +26.6% −99.1% — — — — — −166.0% — — −164.2% — — —
Diluted EPS — — −89.3% — +25.0% −100.0% — — — — — −165.3% — — −162.8% — — —
Margins
EBITDA margin 2.3% 8.4% 3.3% 8.2% 7.5% 6.9% 8.6% 6.4% 1.4% 1.4% −6.1% −7.1% −3.7% 6.0% −3.0% 1.2% −0.4% 0.7%
Operating margin −0.7% 4.9% −0.5% 4.8% 3.8% 1.1% 1.7% −0.8% −5.5% −7.0% −13.4% −14.5% −14.6% −4.1% −13.1% −10.4% −10.1% −7.0%
Net margin −0.1% 7.4% 0.8% 2.6% 2.8% 0.0% 1.2% −4.3% −6.9% −5.4% 21.1% −13.8% −7.3% 17.3% −11.6% −9.7% −6.7% −4.7%
Free-cash-flow margin −4.7% −1.3% −10.8% 6.2% 7.1% 3.0% 1.5% 7.4% −0.8% −7.0% −16.9% −10.8% −11.8% −4.0% −6.1% −18.1% 8.8% −2.7%
Cash flow
Cash from operations 1 10 2 15 16 10 8 19 12 5 −14 −3 3 9 3 −13 17 7
Capital spending 5 11 14 7 5 5 6 6 13 16 13 14 19 14 11 7 7 10
Free cash flow −4 −1 −12 9 12 5 3 13 −1 −11 −27 −17 −16 −5 −8 −21 10 −3
Stock-based pay 2 3 4 4 4 4 4 4 4 3 4 3 4 3 2 2 2 2
Free cash flow after stock pay −6 −4 −16 5 7 1 −1 9 −5 −14 −31 −21 −20 −9 −10 −23 8 −5
Balance sheet
Cash 6 7 7 9 9 25 26 26 35 15 18 13 11 21 11 51 70 58
Total debt 0 4 9 7 38 71 65 58 — 30 0 7 0 0 0 0 0 0
Net debt (negative = net cash) −6 −3 2 −2 29 46 38 32 −35 14 −18 −6 −11 −21 −11 −51 −70 −58
Diluted shares 14m 15m 15m 15m 15m 16m 16m 16m 16m 17m 17m 18m 18m 19m 19m 19m 19m 19m
Returned to shareholders
Buybacks 1 0 4 0 0 — — — — — 1 0 0 0 0 0 2 3
Total returned 1 0 4 0 0 — — — — — 1 0 0 0 0 0 2 3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · June 30, 2026
What it owns · $151m
Short-term assets $118mLonger-term assets $33m
What it owes, and who funded it · $151m
Short-term liabilities $17mLonger-term liabilities $4mShareholders' equity $130m
  • Short-term assets cover short-term liabilities $118m of assets due within a year against $17m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $118m short-term assets against $4m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$9m against −$6,000 of interest.

From KVH Industries Inc \de\'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$3M
Returned to shareholders
-89%
of free cash flow
Buybacks, last 3 fiscal years
$2M
Diluted share count
−0.1%
year over year
Total shareholder yield
2.2%
dividends 0.0% + buybacks 2.2% of market value
R&D spending
2.3%
of revenue
Days sales outstanding
84 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in communications equipment
Last 12 months unless stated KVHI LTRX ALLT CLFD INSG ONDS Median
Revenue, last 12 months $125m $121m $102m $154m $173m $174m $324m
Revenue growth, last 12 months 15.8% −1.6% 10.6% 34.0% −0.8% 979.3% 11.0%
Revenue growth, 3-year average −3.5% −2.7% 1.8% −21.2% −8.6% 166.7% 4.1%
Revenue growth, latest quarter 26.7% 8.0% — 13.2% 9.4% >999% 12.9%
Gross margin 1.7% 43.8% 71.1% 33.0% 41.1% 43.7% 43.7%
Operating margin −7.0% −3.4% 3.5% −0.2% −4.3% −140.4% 2.2%
Operating margin, 3-year average −11.3% −4.7% −9.0% −4.3% −6.3% −253.1% −1.4%
Net margin −4.7% −3.5% 3.6% −4.7% −6.4% 96.0% −0.0%
Cash from operations / revenue 5.5% 8.2% 17.4% 10.3% −4.0% −92.5% 9.9%
Free-cash-flow margin −2.7% 7.7% 15.2% 8.2% −4.5% −98.7% 7.7%
Free-cash-flow margin, 3-year average −6.5% 8.0% 0.2% 11.2% 2.3% −210.5% 2.2%
Stock pay / revenue 1.2% 5.2% 4.9% 3.1% 5.5% 15.0% 3.9%
Change in share count −0.1% 4.0% 18.6% −2.5% 12.0% 31.9% 1.5%

Median of all 40 companies we cover in communications equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 communications equipment companies
Measure Company Peer median Rank
Revenue growth Growth 15.8% 11.3% 16 of 40
Change in growth rate Growth +8.6pp +2.0pp 13 of 40
Operating margin Profitability -7.0% 2.4% 28 of 40
Net margin Profitability -4.7% 0.6% 26 of 40
Free-cash-flow margin Cash generation -2.7% 8.2% 26 of 38
Stock pay as % of revenue Cash generation 1.2% 3.9% 7 of 37
Change in share count Balance sheet -0.1% 1.6% 10 of 36
Days sales outstanding Balance sheet 84 days 75 days 22 of 34

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Services $98.4M 88.6% ▲ 2.0%
Products $12.6M 11.4% ▼ 27.5%

From KVH Industries Inc \de\'s 10-K filed March 10, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$131M
Institutions reporting
97
Shares held vs prior quarter
▲ 27.9%
Positions opened / closed
39 / 10

Top buyers and sellers, Q2 2026: 67 institutions bought and 32 sold ; the biggest buyer was Tidal Investments LLC (+546K shares) and the biggest seller Potomac Capital Management, Inc (−205K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Black Diamond Capital Management I, LLLP $34.8M 3.5M 26.6% ▲ 0.2%
Blackrock, Inc. $9.9M 998K 7.6% ▲ 110.3%
Systematic Financial Management LP $8.7M 873K 6.6% ▼ 3.7%
Dimensional Fund Advisors LP $6.8M 686K 5.2% ▼ 7.0%
First Eagle Investment Management, LLC $5.6M 567K 4.3% ▲ 168.8%
Tidal Investments LLC $5.4M 546K 4.1% New
Tema Etfs LLC $5.4M 546K 4.1% —
Vanguard Capital Management LLC $5.4M 541K 4.1% ▼ 22.4%
Acadian Asset Management LLC $4.2M 420K 3.2% ▲ 375.1%
Needham Investment Management LLC $3.8M 385K 2.9% 0.0%
Geode Capital Management, LLC $3.3M 335K 2.5% ▲ 106.1%
Essex Investment Management Co LLC $2.9M 293K 2.2% New

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not KVH Industries Inc \de\'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $1M 8 trades by 3 insiders, last 12 months Insider sales History → $485,102 9 trades by 3 insiders · 0% under pre-set plans
Net ▲ $527,769 net buying
Insider Date Trade Shares Price Value
Bruun Brent C CEO October 12, 2026 Sell 662 $6.54 $4,329
Bruun Brent C CEO June 10, 2026 Sell 2,230 $7.60 $16,948
Feingold Felise SVP General Counsel June 10, 2026 Sell 1,862 $7.60 $14,151
Radoff Bradley Louis 10% owner May 27, 2026 Sell 24,059 $11.39 $274,032
Radoff Bradley Louis 10% owner May 27, 2026 Sell 10,941 $10.78 $117,944
Bruun Brent C CEO March 10, 2026 Sell 2,049 $6.64 $13,605
Feingold Felise SVP General Counsel March 10, 2026 Sell 1,594 $6.64 $10,584
Feingold Felise SVP General Counsel February 18, 2026 Sell 1,715 $6.38 $10,942
Bruun Brent C CEO February 18, 2026 Sell 3,537 $6.38 $22,566
Radoff Bradley Louis 10% owner February 12, 2026 Buy 30,000 $6.26 $187,800
Black Diamond Capital Management I, Lllp 10% owner December 9, 2025 Buy 60,201 $6.02 $362,410
Black Diamond Capital Management I, Lllp 10% owner December 8, 2025 Buy 2,461 $6.05 $14,889

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 6, 2026
  • March 10, 2026
  • November 6, 2025
  • August 7, 2025
  • May 7, 2025

Recent SEC filings

Data status

When each part of this page on KVH Industries Inc \de\ was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

KVH Industries Inc \de\ in brief

What does KVH Industries Inc \de\ do?
KVH Industries Inc \de\ is a US-listed company in the communications equipment industry. Its financial year ends in December.
What is KVH Industries Inc \de\'s stock ticker?
KVH Industries Inc \de\ trades under the ticker KVHI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is KVH Industries Inc \de\'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, KVH Industries Inc \de\ reported revenue of $125M, 15.8% higher than a year earlier, according to its SEC filings.
What is KVH Industries Inc \de\'s free cash flow?
KVH Industries Inc \de\'s free-cash-flow margin is -2.7% of revenue over the trailing twelve months, ranking 26 of the 38 communications equipment companies we cover.
Who are KVH Industries Inc \de\'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Black Diamond Capital Management I, LLLP, Blackrock, Inc. and Systematic Financial Management LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is KVH Industries Inc \de\ buying back stock, and does it pay a dividend?
KVH Industries Inc \de\ spent $3M on share repurchases over the trailing twelve months, and its diluted share count fell 0.1% over the year.
What is KVH Industries Inc \de\'s market cap?
On November 2, 2026, KVH Industries Inc \de\'s market capitalisation was about $141M and net debt of -$57.7M. Market figures come from third-party market data and may be delayed.
Who are KVH Industries Inc \de\'s competitors?
In our Communications Equipment peer group, the companies closest to KVH Industries Inc \de\ are Lantronix Inc, Allot Ltd., Clearfield, Inc., Inseego Corp. and Ondas Inc. The side-by-side comparison below sets their revenue, margins and growth against KVH Industries Inc \de\'s.
Are insiders buying or selling KVH Industries Inc \de\ stock?
Over the last 12 months, KVH Industries Inc \de\'s directors and officers reported 8 open-market purchases and 9 sales on Form 4. The insider trading page charts every trade.
When is KVH Industries Inc \de\'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — KVH Industries Inc \de\ announces its own schedule.