KVH Industries, a provider of maritime and mobile connectivity, announced second quarter 2025 financial results.
Total revenues decreased by 7% in the second quarter of 2025 from $28.7 million in the second quarter of 2024, due to the downgrade of the U.S. Coast Guard contract in the third quarter of 2024 and the ongoing customer transition to low-earth orbit satellite services, a company statement said.
Net income in the second quarter of 2025 was $0.9 million, or $0.05 per share, compared to a net loss of $2.4 million, or $0.12 per share, in the second quarter of 2024.
“Our second quarter results reflect our ongoing efforts to transform our business model and operations despite challenging industry conditions,” Brent C. Bruun, KVH’s CEO, said in the statement. “Compared to the first quarter of this year, revenues were up $1.2 million, adjusted EBITDA increased $1.7 million, and cash grew by $7.3 million.”
Revenue was $52.0 million for the six months ended June 30, 2025, a decrease of 10% compared to $57.9 million for the six months ended June 30, 2024.
