Company Analysis

KVH Industries, Inc. (KVHI)

Nasdaq: KVHI · Communications Services, NEC · Middletown, RI · filing with the SEC since 1996
Grade5.0
◀ Past 4.5● Present 6.5▶ Future 4.1

The grade of KVH Industries, Inc.

Nine metrics read from its own filings, by tense
Headline grade
5.0/10
◀ Past4.525% of the headline
● Present6.535% of the headline
▶ Future4.140% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

4.5/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
3.5/10

Has it survived what it has been through?

3 warning events since 2017; the latest 2022-11-21.

weight 22% of this tense · 35th percentile among 20 sector filers · read for itself

From the record

KVH Industries, Inc.'s filings since 2017 show 3 warning events of 3 kinds: a debt default or acceleration notice (8-K item 2.04, the latest 2019-05-16); a notice about its exchange listing (8-K item 3.01, the latest 2022-11-21); a late-report notice (Form NT 10-K or NT 10-Q, the latest 2022-11-10) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.9/10

What has it actually done, year after year?

-5% a year over 10 filed years; profitable in 2 of 10.

weight 45% of this tense · 29th percentile among 17 sector filers · read for its customers

From the record

KVH Industries, Inc.'s 10 filed years say what it did: revenue went from $176 million in fiscal 2016 to $111 million in fiscal 2025, down 5% a year; it rose in 3 of 9 years; the deepest fall was 37% from fiscal 2016 to fiscal 2025; net income was positive in 2 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-5.0%bottom 26% of its family
  • the share of years revenue rosebottom 12% of its family
  • the share of filed years with a profitbottom 38% of its family
  • the deepest fall from a revenue peak37.0%bottom 38% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
7.3/10

How has it treated the people who own it?

Share count grew 0.5% a year. 31% of cash flow returned. Insiders: 8 sales, 0 purchases.

weight 33% of this tense · 73rd percentile among 10 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, KVH Industries, Inc.'s diluted share count grew about 0.5% a year, and dividends and buybacks returned about 31% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 8 sales and 0 purchases of their own stock on the open market in the year to 2026-10-13 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 19% of its family
  • cash returned against operating cash flowtop 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

6.5/1035% of the headline grade · 3 of 3 filed

Financial health

as filed
8.1/10

Is it financially healthy right now?

ROE -6%: lost 6¢ per shareholder dollar. Leverage 14%: owes 14¢ per asset dollar.

weight 45% of this tense · 81st percentile among 18 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, KVH Industries, Inc. lost about 6 cents for every dollar of shareholders' money. Leverage: it owed about 14 cents per dollar of assets, and net share issuance: its share count was unchanged over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 3% of its family
  • return on equitytop 47% of its family
  • the share count against the year beforetop 8% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
4.1/10

How strong is its position in its industry?

bottom 41% of 19 in its family; net margin -6.7%.

weight 33% of this tense · 41st percentile among 19 sector filers · read for its customers

From the record

KVH Industries, Inc.'s standing among 19 graded names in its industry family: revenue of $111 million in fiscal 2025 ranks in the top 50% by size; a net margin of -6.7% ranks in the top 45%; revenue growth of -7.2% a year over the last 3 filed years ranks in the bottom 18% (its annual reports).

What it rests on

  • revenue against the family$111Mtop 50% of its family
  • net margin-6.7%top 45% of its family
  • three-year revenue growth-7.2%bottom 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
6.8/10

What are the people in charge doing?

top 32% of 12 in its family for leadership; chief executive since 2022.

weight 22% of this tense · 68th percentile among 12 sector filers · read for its shareholders

From the record

KVH Industries, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Bruun, Brent C (CEO, as filed), filing under that title since 2022-03-15, 4.7 years (top 29% of its family); the 7 officers and directors filing in the last fifteen months have been on the record a median of 4.4 years (bottom 46%); 1 officer or director change was reported on Form 8-K since 2023-11-13, against the 7 people in charge now (top 13%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge1 in three years among 7 peopletop 13% of its family
  • the median years the people in charge have filed4.4 yearsbottom 46% of its family
  • the chief executive's years on the record4.7 yearstop 29% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

4.1/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed
7.2/10

How much room does it have to grow?

top 28% of 18 in its family for room to expand.

weight 22% of this tense · 72nd percentile among 18 sector filers · read for itself

From the record

KVH Industries, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $70 million against no long-term debt tagged leaves 46.1% of its assets as net cash, top 3% of its family; cash from operations less capital spending is 8.8% of revenue (top 25%); research spending of 3.1% of revenue (bottom 43%) (its annual report).

What it rests on

  • cash less debt against assets46.1%top 3% of its family
  • cash from operations less capital spending against revenue8.8%top 25% of its family
  • research spending against revenue3.1%bottom 43% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
3.0/10

What could actually drive growth from here?

bottom 30% of 17 in its family for growth drivers.

weight 45% of this tense · 30th percentile among 17 sector filers · read for its customers

From the record

KVH Industries, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -7.2% a year over the last three filed years against -5% over all 10, slowing (bottom 38% of its family); the newest year grew -2.5% (bottom 38%); research spending grew -30.7% a year (bottom 11%); capital spending grew -20% a year (bottom 32%) (its annual reports). KVH Industries, Inc. reported 2 product lines in fiscal 2025: Service at $98 million (89%), Product at $13 million (11%); 1 of 2 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-2.2 points a yearbottom 38% of its family
  • the newest year's revenue growth-2.5%bottom 38% of its family
  • three-year growth of research spending-30.7%bottom 11% of its family
  • three-year growth of capital spending-20.0%bottom 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
3.5/10

Did its newest year beat what its own record pointed to?

bottom 35% of 17 in its family for expectations against reality.

weight 33% of this tense · 35th percentile among 17 sector filers · read for its shareholders

From the record

KVH Industries, Inc.'s newest year against its own record: revenue of $111 million in fiscal 2025 came in 7.7% above the $103 million its prior three years' pace pointed to (top 44% of its family); net income of $7 million against a prior three-year average of $813 thousand (bottom 12%); a net margin of -6.7% against -1.3% before (bottom 38%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace7.7%top 44% of its family
  • net income against the prior three years' averagefive times below its prior average or morebottom 12% of its family
  • net margin against its prior average-5.3 pointsbottom 38% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton KVHI · research, not advice