Filing Flows › KVH Industries (KVHI) › Q3 2025
KVH Industries (KVHI) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
KVH Industries (KVHI) reported revenue of $28.5M for the third quarter 2025 (Q3 2025), -2% from a year earlier and +7% from the quarter before. Operating margin was -26.8%, net loss $6.9M (24.4% of revenue).
KVH Industries, Q3 2025: revenue $28.5M (-2% year over year), operating margin -26.8%, net loss $6.9M, operating cash flow $9.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $28.5M | +7% | -2% |
| Operating profit | −$7.6M | — | — |
| Net earnings | −$6.9M | -846% | — |
| Operating cash flow | $9.9M | +94% | +425% |
| Free cash flow | $8.4M | +205% | 20× |
What changed
Revenue was $28.5M in Q3 2025, down 2% year over year and up 7% from the previous quarter. Service was the largest line at 89% of revenue. Product lost $1.5M year over year (down 33%), 289% of the total change.
Operating costs exceeded revenue by $7.6M, an operating margin of -26.8%. Total costs grew 17% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+27%). The quarter ended with a net loss of $6.9M, after a profit of $930K the previous quarter.
Operating cash flow was $9.9M (up 425% year over year). Non-cash charges added back $2.6M of depreciation and amortization and $366K of share-based compensation. Working capital and other items added $13.8M. Capital expenditures of $1.5M left free cash flow of $8.4M.
Questions
What was KVH Industries' revenue in the third quarter 2025?
KVH Industries (KVHI) reported revenue of $28.5M for the third quarter 2025 (Q3 2025), -2% from a year earlier and +7% from the quarter before.
Was KVH Industries profitable in the third quarter 2025?
Operating loss was $7.6M (-26.8% of revenue) and net loss $6.9M.
Source: KVH Industries 10-Q on SEC EDGAR.