KVH Industries (KVHI) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	0-28082
Entity Registrant Name	KVH Industries, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	05-0420589
Entity Address, Address Line One	50 Enterprise Center
Entity Address, City or Town	Middletown
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02842
City Area Code	401
Local Phone Number	847-3327
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	KVHI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,799,122
Entity Central Index Key	0001007587
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 14,396	$ 11,294
Marketable securities	35,369	58,477
Accounts receivable, net of allowance for credit losses of $1,035 and $1,168 as of September 30, 2024 and December 31, 2023, respectively	24,757	25,670
Inventories	25,203	19,046
Prepaid expenses and other current assets	20,531	4,331
Current assets held for sale	11,410	0
Total current assets	131,666	118,818
Property and equipment, net	29,894	47,680
Intangible assets, net	922	1,194
Right of use assets	1,104	1,068
Other non-current assets	2,914	3,618
Deferred income tax asset	221	256
Total assets	166,721	172,634
Current liabilities:
Accounts payable	10,198	4,780
Accrued airtime	673	5,508
Accrued compensation and employee-related expenses	4,251	4,466
Accrued loss on future firm purchase commitments	2,174	3,569
Accrued other	2,774	2,588
Accrued product warranty costs	584	828
Deferred revenue	1,536	1,774
Current operating lease liability	692	786
Liability for uncertain tax positions	733	673
Total current liabilities	23,615	24,972
Long-term operating lease liability	406	289
Deferred income tax liability	2	1
Total liabilities	24,023	25,262
Commitments and contingencies (Notes 2, 11, and 16)
Stockholders’ equity:
Preferred stock, $0.01 par value. Authorized 1,000,000 shares; none issued	0	0
Common stock, $0.01 par value. Authorized 30,000,000 shares; 21,255,231 and 21,066,899 shares issued at September 30, 2024 and December 31, 2023, respectively; and 19,799,122 and 19,610,790 shares outstanding at September 30, 2024 and December 31, 2023, respectively	213	211
Additional paid-in capital	166,874	165,140
Accumulated deficit	(8,442)	(1,704)
Accumulated other comprehensive loss	(3,857)	(4,185)
Total stockholders equity before treasury stock adjustment	154,788	159,462
Less: treasury stock at cost, common stock, 1,456,109 shares as of September 30, 2024 and December 31, 2023	(12,090)	(12,090)
Total stockholders’ equity	142,698	147,372
Total liabilities and stockholders’ equity	$ 166,721	$ 172,634

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,035	$ 1,168
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	21,255,231	21,066,899
Common stock, shares outstanding (in shares)	19,799,122	19,610,790
Treasury stock at cost, outstanding (in shares)	1,456,109	1,456,109

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Sales:
Net sales	$ 28,971	$ 33,195	$ 86,911	$ 100,924
Costs and expenses:
Research and development	1,407	2,398	6,771	7,379
Sales, marketing and support	4,932	4,841	15,650	15,673
General and administrative	3,789	4,367	13,214	13,139
Goodwill impairment charge	0	5,333	0	5,333
Long-lived assets impairment charge		657	1,137	657
Total costs and expenses	30,962	38,345	95,589	106,071
Loss from operations	(1,991)	(5,150)	(8,678)	(5,147)
Interest income	629	997	2,416	2,660
Interest expense	2	0	2	0
Other income (expense), net	216	(121)	(348)	(583)
Loss before income tax expense	(1,148)	(4,274)	(6,612)	(3,070)
Income tax expense	51	95	126	159
Net loss	$ (1,199)	$ (4,369)	$ (6,738)	$ (3,229)
Net loss per common share
Basic (in dollars per share)	$ (0.06)	$ (0.23)	$ (0.35)	$ (0.17)
Diluted (in dollars per share)	$ (0.06)	$ (0.23)	$ (0.35)	$ (0.17)
Weighted average number of common shares outstanding:
Basic (in shares)	19,433	19,231	19,367	19,090
Diluted (in shares)	19,433	19,231	19,367	19,090
Service
Sales:
Net sales	$ 24,410	$ 29,397	$ 74,122	$ 86,883
Costs and expenses:
Cost of product and service sales	14,983	16,238	44,496	47,848
Product
Sales:
Net sales	4,561	3,798	12,789	14,041
Costs and expenses:
Cost of product and service sales	$ 4,714	$ 4,511	$ 14,321	$ 16,042

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss		$ (1,199)	$ (4,369)	$ (6,738)	$ (3,229)
Other comprehensive loss, net of tax:
Unrealized gain on available-for-sale securities		0	0	0	12
Foreign currency translation adjustment		134	(267)	328	(124)
Other comprehensive income (loss), net of tax	[1]	134	(267)	328	(112)
Total comprehensive loss		$ (1,065)	$ (4,636)	$ (6,410)	$ (3,341)
[1]Tax impact was nominal for all periods.

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total		Common Stock	Additional Paid-in Capital	Retained Deficit	Accumulated Other Comprehensive Loss	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2022			20,631,000
Beginning balance at Dec. 31, 2022	$ 158,438		$ 206	$ 160,475	$ 13,718	$ (4,110)	$ (11,851)
Beginning balance, treasury stock (in shares) at Dec. 31, 2022							(1,433,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(3,229)				(3,229)
Other comprehensive income (loss)	(112)	[1]				(112)
Stock-based compensation	1,433			1,433
Issuance of common stock under employee stock purchase plan (in shares)			17,000
Issuance of common stock under employee stock purchase plan	123			123
Acquisition of treasury stock (in shares)							(23,000)
Acquisition of treasury stock	(239)						$ (239)
Exercise of stock options and issuance of restricted stock awards, net of forfeitures (in shares)			419,000
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	2,479		$ 5	2,474
Ending balance (in shares) at Sep. 30, 2023			21,067,000
Ending balance at Sep. 30, 2023	158,893		$ 211	164,505	10,489	(4,222)	$ (12,090)
Ending balance, treasury stock (in shares) at Sep. 30, 2023							(1,456,000)
Beginning balance (in shares) at Jun. 30, 2023			20,969,000
Beginning balance at Jun. 30, 2023	162,713		$ 210	163,690	14,858	(3,955)	$ (12,090)
Beginning balance, treasury stock (in shares) at Jun. 30, 2023							(1,456,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(4,369)				(4,369)
Other comprehensive income (loss)	(267)	[1]				(267)
Stock-based compensation	559			559
Issuance of common stock under employee stock purchase plan (in shares)			17,000
Issuance of common stock under employee stock purchase plan	123			123
Exercise of stock options and issuance of restricted stock awards, net of forfeitures (in shares)			81,000
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	134		$ 1	133
Ending balance (in shares) at Sep. 30, 2023			21,067,000
Ending balance at Sep. 30, 2023	$ 158,893		$ 211	164,505	10,489	(4,222)	$ (12,090)
Ending balance, treasury stock (in shares) at Sep. 30, 2023							(1,456,000)
Beginning balance (in shares) at Dec. 31, 2023	19,610,790		21,067,000
Beginning balance at Dec. 31, 2023	$ 147,372		$ 211	165,140	(1,704)	(4,185)	$ (12,090)
Beginning balance, treasury stock (in shares) at Dec. 31, 2023	(1,456,109)						(1,456,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (6,738)				(6,738)
Other comprehensive income (loss)	328	[1]				328
Stock-based compensation	1,629			1,629
Issuance of common stock under employee stock purchase plan (in shares)			24,000
Issuance of common stock under employee stock purchase plan	95			95
Exercise of stock options and issuance of restricted stock awards, net of forfeitures (in shares)			164,000
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	$ 12		$ 2	10
Ending balance (in shares) at Sep. 30, 2024	19,799,122		21,255,000
Ending balance at Sep. 30, 2024	$ 142,698		$ 213	166,874	(8,442)	(3,857)	$ (12,090)
Ending balance, treasury stock (in shares) at Sep. 30, 2024	(1,456,109)						(1,456,000)
Beginning balance (in shares) at Jun. 30, 2024			21,170,000
Beginning balance at Jun. 30, 2024	$ 143,378		$ 212	166,490	(7,243)	(3,991)	$ (12,090)
Beginning balance, treasury stock (in shares) at Jun. 30, 2024							(1,456,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,199)				(1,199)
Other comprehensive income (loss)	134	[1]				134
Stock-based compensation	385			385
Exercise of stock options and issuance of restricted stock awards, net of forfeitures (in shares)			85,000
Exercise of stock options and issuance of restricted stock awards, net of forfeitures	$ 0		$ 1	(1)
Ending balance (in shares) at Sep. 30, 2024	19,799,122		21,255,000
Ending balance at Sep. 30, 2024	$ 142,698		$ 213	$ 166,874	$ (8,442)	$ (3,857)	$ (12,090)
Ending balance, treasury stock (in shares) at Sep. 30, 2024	(1,456,109)						(1,456,000)
[1]Tax impact was nominal for all periods.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (6,738)	$ (3,229)
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for credit losses	35	(168)
Depreciation and amortization	10,250	10,119
Impairment charge to goodwill and long-lived assets	1,137	5,990
Deferred income taxes	36	1
Loss on disposals of fixed assets	1,850	511
Compensation expense related to stock-based awards and employee stock purchase plan	1,629	1,433
Unrealized currency translation loss (gain)	280	(150)
Changes in operating assets and liabilities:
Accounts receivable	896	(593)
Inventories	(6,157)	(3,693)
Prepaid expenses and other current assets	(16,128)	(1,544)
Other non-current assets	692	1,054
Accounts payable	5,404	(16,758)
Deferred revenue	(270)	230
Accrued compensation, product warranty and other	(6,489)	4,119
Net cash used in operating activities	(13,573)	(2,678)
Cash flows from investing activities:
Capital expenditures	(6,570)	(7,170)
Cash paid for acquisition of intangible asset	(31)	(35)
Purchases of marketable securities	(1,892)	(17,441)
Maturities and sales of marketable securities	25,000	15,422
Net cash provided by (used in) investing activities	16,507	(9,224)
Cash flows from financing activities:
Proceeds from stock options exercised and employee stock purchase plan	96	2,604
Purchase of treasury stock	0	(239)
Payment of finance lease	0	(22)
Net cash provided by financing activities	96	2,343
Effect of exchange rate changes on cash and cash equivalents	72	(13)
Net increase (decrease) in cash and cash equivalents	3,102	(9,572)
Cash and cash equivalents at beginning of period	11,294	21,056
Cash and cash equivalents at end of period	14,396	11,484
Supplemental disclosure of non-cash investing and financing activities:
Changes in accrued other and accounts payable related to property and equipment additions	$ 31	$ 3

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business KVH Industries, Inc. (together with its subsidiaries, the Company or KVH) designs, develops, manufactures and markets mobile connectivity services and products for the marine and land markets. KVH’s service sales primarily represent revenue earned from satellite Internet airtime services. KVH provides, for monthly fixed and per-usage fees, satellite connectivity encompassing broadband Internet and VoIP services, to its TracNet H-series and TracPhone V-HTS series customers via KVH’s global high-throughput satellite (HTS) network. Revenue from our cellular airtime service supplements KVH’s satellite-only airtime revenue following the July 2022 launch of the KVH ONE hybrid network and TracNet H-series terminals. This service and product combination integrates global satellite service with KVH-provided cellular service in more than 150 countries, along with shore-based Wi-Fi access. In March 2023, KVH began selling Starlink terminals and in September 2023 became a Starlink authorized hardware and airtime reseller. The May 2023 introduction of the KVH ONE OpenNet Program expanded access to KVH's global HTS network and airtime services to non-KVH terminals for the first time. AgilePlans, KVH’s connectivity as a service offering, is a monthly subscription model that provides global connectivity to commercial maritime customers. The subscription can include KVH VSAT terminals and data service, Starlink terminals and data service, KVH’s CommBox™ Edge Communications Gateway and associated service licensing, VoIP, daily news, subsidized shipping and installation, and global support for a monthly fee with no minimum contract commitment. KVH offers AgilePlans subscribers a variety of airtime data plans with varying data speeds and fixed data usage levels with per megabyte overage charges. These airtime plans are similar to those the Company offers to customers who elect to purchase or lease a TracNet H-series or TracPhone V-HTS series terminal. The Company recognizes the monthly AgilePlans subscription fee as service revenue over the service delivery period. The Company retains ownership of the hardware it provides to AgilePlans customers, who must return the hardware to KVH if they decide to terminate the service. Because KVH does not sell the hardware under AgilePlans, the Company does not recognize any product revenue when the hardware is deployed to an AgilePlans customer. KVH records the cost of the hardware used by AgilePlans customers as revenue-generating assets and depreciates the cost over an estimated useful life of two Service sales also include the distribution of commercially licensed entertainment, including news, sports, and movies to commercial customers in the maritime market through the KVH Media Group, along with supplemental value-added cybersecurity, email, and crew internet services. In addition, KVH earns monthly usage fees from third-party satellite connectivity services, including VoIP, data and Internet services, provided to its Inmarsat and Iridium customers who choose to activate their subscriptions with KVH. Service sales also include sales from product repairs and extended warranty sales. KVH’s satellite-only and hybrid products enable marine customers to receive data, Voice over Internet Protocol (VoIP), and value-added services via satellite, cellular, and shore-based Wi-Fi networks onboard commercial, leisure, and military/government vessels. In addition, the Company’s in-motion television terminals permit customers to receive live digital television via regional satellite services in marine vessels, recreational vehicles, buses and automobiles. KVH sells its products through an extensive international network of dealers and distributors. KVH also sells and leases products to service providers and end users. KVH's marine leisure business is highly seasonal. Seasonality can also impact the Company's commercial marine business, although typically to a lesser degree. Temporary suspensions of the Company's airtime services typically increase in the fourth and first quarters of each year as boats are placed out of service during the winter months. Historically, the Company has generated the majority of its marine leisure product revenues during the first and second quarters of each year, and these revenues typically decline in the third and fourth quarters of each year, compared to the first two quarters. In February 2024, the Company announced a staged wind-down of its product manufacturing operations at its Middletown, Rhode Island location. The Company expects that it will continue its product manufacturing activities in order to generate a targeted amount of inventory of maritime satellite connectivity and satellite television terminals to meet anticipated demand and that it will cease substantially all manufacturing activity by the end of 2025. The Company expects to continue to facilitate customer transition to third-party hardware products compatible with its mobile satellite communications services.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies 2023 10-K - Revision for Correction of Immaterial Errors As stated in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, which was filed on March 15, 2024, the Company corrected for errors that were immaterial to its previously reported consolidated financial statements. These errors were identified in connection with the preparation of the Company's consolidated financial statements for the year ended December 31, 2023, and related primarily to the adoption and implementation of Accounting Standards Codification (“ASC”) No. 606, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018, specifically, the assessment of performance obligations associated with the sales of antennas and airtime-related equipment. The Company evaluated the materiality of these errors both qualitatively and quantitatively in accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality, and SAB No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements, and determined that the effect of these corrections was not material to the previously issued financial statements. Therefore, the amounts in the previous period have been revised to reflect the correction of these errors. Basis of Presentation The accompanying consolidated interim financial statements of KVH Industries, Inc. and its wholly owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company has evaluated all subsequent events through the date of this filing. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated interim financial statements have not been audited by the Company’s independent registered public accounting firm and include all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial condition, results of operations, and cash flows for the periods presented. These consolidated interim financial statements do not include all disclosures associated with annual financial statements and accordingly should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2023 filed on March 15, 2024 with the Securities and Exchange Commission. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of operating results for the remainder of the year. Significant Estimates and Assumptions and Other Significant Non-Recurring Transactions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of sales and expenses during the reporting periods. The estimates and assumptions used by management affect the Company’s revenue recognition, valuation of accounts receivable, valuation of inventory, expected future cash flows (including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets and goodwill), estimated fair values of long-lived assets (including goodwill, amortization methods and amortization periods), certain accrued expenses and other related charges, stock-based compensation, contingent liabilities, forfeitures and key valuation assumptions for its share-based awards, estimated fulfillment costs for warranty obligations, tax reserves and recoverability of the Company’s net deferred tax assets and related valuation allowance, and the valuation of right-of-use assets and lease liabilities. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances. Asset Held for Sale The Company classifies an asset as held for sale when management, having the authority to approve the action, commits to a plan to sell the asset, the sale is probable within one year and the asset is available for immediate sale in its present condition. The Company also considers whether an active program to locate a buyer has been initiated, whether the asset is marketed actively for sale at a price that is reasonable in relation to its current fair value and whether actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The Company initially measures an asset that is classified as held for sale at the lower of its carrying amount or fair value less costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale criteria are met. Conversely, gains are not recognized until the date of sale. The Company assesses the fair value of an asset less costs to sell for each reporting period that it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying amount of the asset, as long as the new carrying amount does not exceed the carrying amount of the asset at the time it was initially classified as held for sale. Assets are not depreciated or amortized while they are classified as held for sale. Foreign Currency Translation The financial statements of the Company’s foreign subsidiaries located in Denmark, Singapore and Cyprus are maintained using the United States dollar as the functional currency. Exchange rates in effect on the date of the transaction are used to record monetary assets and liabilities. Revenue and other expense elements are recorded at rates that approximate the rates in effect on the transaction dates. Foreign currency exchange gains and losses are recognized within “other expense, net” in the accompanying consolidated statements of operations. The Company recorded net foreign currency exchange gains and losses, which are comprised of both realized and unrealized foreign currency exchange gains and losses, in its accompanying consolidated statements of operations of $(48) and $92 for the three months ended September 30, 2024 and 2023, respectively, and $(317) and $(18) for the nine months ended September 30, 2024 and 2023, respectively. The financial statements of the Company’s foreign subsidiaries located in the United Kingdom, Brazil, Norway, India and Japan use the foreign subsidiaries’ respective local currencies as the functional currency. The Company translates the assets and liabilities of these foreign subsidiaries at the exchange rates in effect at the end of each reporting period. Net sales, costs and expenses are translated using average exchange rates in effect during the period. Gains and losses from foreign currency translation are credited or charged to accumulated other comprehensive loss included in stockholders' equity in the accompanying consolidated balance sheets.

Recently Issued Accounting Stan

Recently Issued Accounting Standards and Accounting Standards Not yet Adopted	9 Months Ended
	Sep. 30, 2024
Significant Accounting Policies [Abstract]
Recently Issued Accounting Standards and Accounting Standards Not yet Adopted	Recently Issued Accounting Standards and Accounting Standards Not yet Adopted There are no recent accounting pronouncements that have been issued by the FASB, that are not yet effective and that the Company expects would have a material impact on the Company's financial statements.

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 30, 2024
Marketable Securities [Abstract]
Marketable Securities	Marketable Securities Marketable securities as of September 30, 2024 and December 31, 2023 consisted of the following: September 30, 2024 Amortized Gross Gross Fair Money market mutual funds $ 35,369 $ — $ — $ 35,369 Total marketable securities designated as available-for-sale $ 35,369 $ — $ — $ 35,369 December 31, 2023 Amortized Gross Gross Fair Money market mutual funds $ 58,477 $ — $ — $ 58,477 Total marketable securities designated as available-for-sale $ 58,477 $ — $ — $ 58,477 Interest income from marketable securities was $466 and $744 during the three months ended September 30, 2024 and 2023, respectively, and $1,892 and $2,019 during the nine months ended September 30, 2024 and 2023, respectively.

Stockholder's Equity

Stockholder's Equity	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stockholder's Equity	Stockholder's Equity (a) Stock Equity and Incentive Plan The Company recognizes stock-based compensation in accordance with the provisions of ASC Topic 718, Compensation-Stock Compensation . Stock-based compensation expense was $384 and $558, excluding $1 and $1 of compensation charges related to our Amended and Restated 1996 Employee Stock Purchase Plan, or the ESPP, for the three months ended September 30, 2024 and 2023, respectively, and $1,622 and $1,408, excluding $7 and $25 of compensation shares related to the ESPP, for the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, there was $1,428 of total unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 2.61 years. As of September 30, 2024, there was $2,002 of total unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted-average period of 2.22 years. Stock Options During the three months ended September 30, 2024, the company issued no shares of common stock upon the exercise of stock options. No shares were surrendered to the Company to satisfy minimum tax withholding obligations. Additionally, during the three months ended September 30, 2024, no stock options were granted and 230 stock options expired, were canceled or were forfeited. During the nine months ended September 30, 2024, the Company issued no shares of common stock upon the exercise of stock options. No shares were surrendered to the Company to satisfy minimum tax withholding obligations. Additionally, during the nine months ended September 30, 2024, 266 stock options were granted and 501 stock options expired, were canceled or were forfeited. During the nine months ended September 30, 2023, 317 stock options were granted and 564 stock options expired, were canceled or were forfeited. The Company has historically estimated the fair value of each option grant on the date of grant using the Black-Scholes option-pricing model. The weighted average assumptions utilized to determine the fair value of options granted during the nine months ended September 30, 2024 and 2023 are as follows: Nine Months Ended September 30, 2024 2023 Risk-free interest rate 4.36 % 4.49 % Expected volatility 48.63 % 43.93 % Expected life (in years) 4.32 4.30 Dividend yield 0 % 0 % As of September 30, 2024, there were 995 options outstanding with a weighted average exercise price of $8.23 per share and 410 options exercisable with a weighted average exercise price of $9.32 per share. Restricted Stock During the three months ended September 30, 2024, 85 shares of restricted stock were granted with a weighted average grant date fair value of $4.51 per share, and no shares of restricted stock were forfeited. Additionally, during the three months ended September 30, 2024, 16 shares of restricted stock vested. During the nine months ended September 30, 2024, 207 shares of restricted stock were granted with a weighted average grant date fair value of $4.82 per share, and 43 shares of restricted stock were forfeited. Additionally, during the nine months ended September 30, 2024, 158 shares of restricted stock vested. As of September 30, 2024, the Company had no unvested outstanding options and no outstanding shares of restricted stock that were subject to performance-based or market-based vesting conditions. (b) Employee Stock Purchase Plan The Company's ESPP affords eligible employees the right to purchase common stock, via payroll deductions, through various offering periods at a purchase price equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. During the three months ended September 30, 2024 and 2023, 0 and 17 shares were issued under the ESPP plan, respectively. During the nine months ended September 30, 2024 and 2023, 24 and 17 shares were issued under the ESPP plan, respectively. The Company recorded compensation charges related to the ESPP of $1 for both the three months ended September 30, 2024 and 2023, and $7 and $25 for the nine months ended September 30, 2024 and 2023, respectively. (c) Stock-Based Compensation Expense The following table presents stock-based compensation expense, including expense for the ESPP, in the Company's consolidated statements of operations for the nine months ended September 30, 2024 and 2023, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of service sales 8 6 $ 22 $ 15 Cost of product sales $ 5 $ 9 19 25 Research and development 63 162 326 399 Sales, marketing and support 74 63 219 160 General and administrative 235 319 1,043 834 $ 385 $ 559 $ 1,629 $ 1,433 (d) Accumulated Other Comprehensive Loss (AOCL) Comprehensive loss includes net loss, unrealized gains and losses from foreign currency translation, and unrealized gains and losses on available for sale marketable securities. The components of the Company’s comprehensive loss and the effect on earnings for the periods presented are detailed in the accompanying consolidated statements of comprehensive loss. The balances for the three months ended September 30, 2024 and 2023 are as follows: Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, June 30, 2024 $ (3,991) $ (3,991) Other comprehensive income 134 134 Net other comprehensive income 134 134 Balance, September 30, 2024 $ (3,857) $ (3,857) Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, June 30, 2023 $ (3,955) $ (3,955) Other comprehensive loss (267) (267) Net other comprehensive loss (267) (267) Balance, September 30, 2023 $ (4,222) $ (4,222) The balances for the nine months ended September 30, 2024 and 2023 are as follows: Foreign Currency Translation Unrealized Gain (Loss) on Available for Sale Marketable Securities Total Accumulated Other Comprehensive Loss Balance, December 31, 2023 $ (4,185) $ — $ (4,185) Other comprehensive income 328 — 328 Net other comprehensive income 328 — 328 Balance, September 30, 2024 $ (3,857) $ — $ (3,857) Foreign Currency Translation Unrealized (Loss) Gain on Available for Sale Marketable Securities Total Accumulated Other Comprehensive Loss Balance, December 31, 2022 $ (4,098) $ (12) $ (4,110) Other comprehensive (loss) income (124) 12 (112) Net other comprehensive (loss) income (124) 12 (112) Balance, September 30, 2023 $ (4,222) $ — $ (4,222)

Net Loss per Common Share

Net Loss per Common Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Loss per Common Share	Net Loss per Common Share Basic net loss per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income per share incorporates the dilutive effect of common stock equivalent options, warrants and other convertible securities, if any, as determined with the treasury stock accounting method. For the three and nine months ended September 30, 2024, since there was a net loss, the company excluded all 1,165 and 1,088, respectively, in outstanding stock options and non-vested restricted shares from its diluted loss per share calculation, as inclusion of these convertible securities would have reduced the net loss per share. For the three and nine months ended September 30, 2023, since there was a net loss, the company excluded all 1,572 and 1,053, respectively, in outstanding stock options and non-vested restricted shares from its diluted loss per share calculation, as inclusion of these convertible securities would have reduced the net loss per share. A reconciliation of the basic and diluted weighted average common shares outstanding is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Weighted average common shares outstanding—basic 19,433 19,231 19,367 19,090 Dilutive common shares issuable in connection with stock plans — — — — Weighted average common shares outstanding—diluted 19,433 19,231 19,367 19,090

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value using the first-in first-out costing method. Inventories as of September 30, 2024 and December 31, 2023 include the costs of material, labor, and factory overhead. Components of inventories consist of the following: September 30, December 31, Raw materials $ 15,754 $ 11,352 Work in process 3,758 2,617 Finished goods 5,691 5,077 $ 25,203 $ 19,046

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets September 30, December 31, Prepaid Starlink pooled data $ 15,759 $ — Other prepaid expenses and other current assets 4,772 4,331 $ 20,531 $ 4,331 During the second quarter of 2024, KVH expanded its relationship with Starlink through a bulk data distribution agreement. Under the agreement, KVH prepaid for access to a large block of Starlink Mobile Priority data at favorable rates. The new agreement offers KVH increased flexibility in the development and sales of custom, cost-effective airtime plans using Starlink’s Mobile Priority service. KVH began drawing from this prepaid pooled data in the third quarter of 2024.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net, as of September 30, 2024 and December 31, 2023 consist of the following: September 30, December 31, Land $ — $ 2,833 Building and improvements — 18,839 Leasehold improvements 340 445 Machinery and equipment 6,018 5,989 Revenue-generating assets 63,562 60,984 Office and computer equipment 10,414 14,213 Motor vehicles 31 31 80,365 103,334 Less accumulated depreciation (50,471) (55,654) $ 29,894 $ 47,680 Depreciation expense was $3,163 and $3,180 for the three months ended September 30, 2024 and 2023, respectively, and $9,947 and $9,952 for the nine months ended September 30, 2024 and 2023, respectively. Certain revenue-generating hardware assets are utilized by the Company in the delivery of the Company's airtime services, media and other content. As of September 30, 2024 and December 31, 2023, the long-lived tangible assets related to the Company’s international subsidiaries were less than 10% of the Company’s long-lived tangible assets. In the third quarter of 2024, the Company commenced its plan to sell the warehouse building and surface parking lot located at 75 Enterprise Center in Middletown, RI (“75 Enterprise Center”). As of September 30, 2024, 75 Enterprise Center had a carrying value of approximately $7.8 million. The Company determined that all of the criteria to classify 75 Enterprise Center as held for sale had been met as of September 30, 2024. The estimated fair value was determined based upon the anticipated sales price of these assets based on current market conditions and assumptions made by management, less selling costs. The Company recorded an impairment charge of $1.1 million during the three and nine months ended September 30, 2024, as the carrying value of 75 Enterprise Center at the time the asset for sale criteria were met exceeded the fair value less costs to sell. Additionally, in the third quarter of 2024, the Company commenced its plan to sell the property, building, improvements, and land located at 50 Enterprise Center in Middletown, RI (“50 Enterprise Center”). As of September 30, 2024, 50 Enterprise Center had a carrying value of approximately $3.6 million. The Company determined that all of the criteria to classify 50 Enterprise Center as held for sale had been met as of September 30, 2024. The estimated fair value of 50 Enterprise Center exceeds its carrying value.

Product Warranty

Product Warranty	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Product Warranty	Product Warranty The Company’s products carry standard limited warranties that range from one The following table summarizes product warranty activity during 2024 and 2023: Nine Months Ended September 30, 2024 2023 Beginning balance $ 828 $ 1,287 Charges to expense 398 521 Costs incurred (642) (1,166) Ending balance $ 584 $ 642

Legal Matters

Legal Matters	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Legal Matters	Legal Matters In the ordinary course of business, the Company is a party to inquiries, legal proceedings and claims including, from time to time, disagreements with vendors and customers. The Company is not a party to any lawsuit or proceeding that, in management's opinion, is likely to materially harm the Company's business, results of operations, financial condition, or cash flows.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC Topic 820, Fair Value Measurements and Disclosures (ASC 820), provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company’s Level 1 assets are investments in money market mutual funds. Level 2: Quoted prices for similar assets or liabilities in active markets; or observable prices that are based on observable market data, based on directly or indirectly market-corroborated inputs. The Company has no Level 2 assets or liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and are developed based on the best information available given the circumstances. The Company has no Level 3 assets. Assets and liabilities measured at fair value are based on the valuation techniques identified in the table below. The following tables present financial assets and liabilities at September 30, 2024 and December 31, 2023 for which the Company measures fair value on a recurring basis, by level, within the fair value hierarchy: September 30, 2024 Total Level 1 Level 2 Level 3 Valuation Assets Money market mutual funds $ 35,369 $ 35,369 $ — $ — (a) December 31, 2023 Total Level 1 Level 2 Level 3 Valuation Assets Money market mutual funds $ 58,477 $ 58,477 $ — $ — (a) (a) Market approach—prices and other relevant information generated by market transactions involving identical or comparable assets. The carrying amount of certain financial instruments approximates fair value due to their short-term, highly liquid nature. These instruments include cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses. The carrying amount of the Company's operating and financing lease liabilities approximates fair value based on currently available quoted rates of similarly structured borrowings. Assets Measured and Recorded at Fair Value on a Nonrecurring Basis The Company's non-financial assets, such as intangible assets, and other long-lived assets resulting from business combinations, are measured at fair value using income approach valuation methodologies at the date of acquisition and subsequently re-measured if indications of impairment exist. There was a $1.1 million impairment of the Company's long-lived assets during the nine months ended September 30, 2024 and none during the nine months ended September 30, 2023. See note 9 for further discussion. The Company does not have any liabilities that are recorded at fair value on a non-recurring basis.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of intangible assets is measured by a comparison of the carrying amount of an asset group to its future undiscounted cash flows. If these comparisons indicate that an asset group is not recoverable, the Company will recognize an impairment loss for the amount by which the carrying value of the asset group exceeds its related estimated fair value. The Company has determined that the assets within each of the Company's reporting units (Mobile Broadband (MBB) and KVH Media Group (Media)) are highly interrelated and interdependent on each other to generate revenues, and thus independent cash flows are not identifiable at a level lower than that of these reporting units. Accordingly, the Company's asset groups were determined to be its reporting units (MBB and Media). The changes in the carrying amount of intangible assets during the nine months ended September 30, 2024 are as follows: Amounts Balance at December 31, 2023 $ 1,194 Amortization expense (303) Intangible assets acquired in asset acquisition 31 Balance at September 30, 2024 $ 922 Intangible assets arose from the purchase of distribution rights from Kognitive Networks Inc. and the purchase of KVH Industries Norway AS. The assets related to the distribution rights with Kognitive Networks are being amortized on a straight-line basis over the estimated useful life of 3 years. The assets related to the purchase of KVH Industries Norway AS for acquired intellectual property are fully amortized. In January 2017, the Company completed the acquisition of certain subscriber relationships from a third party. This acquisition did not meet the definition of a business under ASC 2017-01, Business Combinations (Topic 805)-Clarifying the Definition of a Business . The Company ascribed $100 of the initial purchase price to the acquired subscriber relationships definite-lived intangible assets with an initial estimated useful life of 10 years. Under the asset purchase agreement, the purchase price includes a component of contingent consideration under which the Company is required to pay a percentage of recurring revenues received from the acquired subscriber relationships through 2026 up to a maximum annual payment of $114. The amounts payable under the contingent consideration arrangement, if any, will be included in the measurement of the cost of the acquired subscriber relationships. Acquired intangible assets are subject to amortization. The following table summarizes acquired intangible assets at September 30, 2024 and December 31, 2023, respectively: Gross Carrying Amount Accumulated Amortization Net Carrying Value September 30, 2024 Subscriber relationships $ 42 $ 8 $ 34 Distribution rights 1,250 362 888 Intellectual property 2,284 2,284 — $ 3,576 $ 2,654 $ 922 December 31, 2023 Subscriber relationships $ 11 $ 1 $ 10 Distribution rights 1,250 66 1,184 Intellectual property 2,284 2,284 — $ 3,545 $ 2,351 $ 1,194 Amortization expense related to intangible assets was $102 and $19 for the three months ended September 30, 2024 and 2023, respectively, and $303 and $167 for the nine months ended September 30, 2024 and 2023, respectively. Amortization expense was categorized as general and administrative expense. As of September 30, 2024, the total weighted average remaining useful lives of the definite-lived intangible assets was 2.3 years. Estimated future amortization expense for intangible assets recorded by the Company at September 30, 2024 is as follows: Years ending December 31, Amortization 2024 $ 102 2025 410 2026 410 Total amortization expense $ 922

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers In accordance with ASC 606, revenue is recognized when a customer obtains control of promised products and services. The amount of revenue recognized reflects the consideration which the Company expects to be entitled to receive in exchange for these products and services. Disaggregation of Revenue The following table summarizes net sales from contracts with customers for the nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Service - over time 24,410 29,397 $ 74,122 $ 86,883 Product - point in time $ 4,561 $ 3,798 12,789 14,041 Total net sales $ 28,971 $ 33,195 $ 86,911 $ 100,924 For product sales, the delivery of the Company’s performance obligations is generally transferred to the customer, and associated revenue is recognized, at a point in time. For service sales, the delivery of the Company’s performance obligations is transferred to the customer, and associated revenue is recognized, over time. Revenues for these service agreements are recognized over time using an output method based upon the passage of time, as this provides a faithful depiction of the pattern of transfer of control. The Company's performance is impacted by the levels of activity in the marine and land mobile markets, among other factors. Performance in any particular period could be impacted by the timing of sales to certain large customers. The Company offers a comprehensive family of mobile satellite antenna services and products that provide access to the Internet, television, and VoIP services while on the move. Product sales accounted for 16% and 11% of the Company's consolidated net sales for the three months ended September 30, 2024 and 2023, respectively, and 15% and 14% of the Company's consolidated net sales for the nine months ended September 30, 2024 and 2023, respectively. Service sales of VSAT Broadband airtime service accounted for 69% and 83% of the Company's consolidated net sales for the three months ended September 30, 2024 and 2023, respectively, and 74% and 81% of the Company's consolidated net sales for the nine months ended September 30, 2024 and 2023, respectively. The balance of service sales is comprised of distribution of commercially licensed entertainment and news, product repairs, and extended warranty sales. No other single product class accounts for 10% or more of the Company's consolidated net sales. The Company operates in a number of major geographic areas, including internationally. Revenues from international locations primarily include Singapore, Canada, South American countries, European Union countries and other European countries, and countries in Africa, the Middle East and Asia/Pacific, including India. Revenues are based upon customer location, and revenues from international locations represented 71% and 70% of consolidated net sales for the three months ended September 30, 2024 and 2023, respectively, and 72% and 67% of consolidated net sales for the nine months ended September 30, 2024 and 2023, respectively. Sales to Singapore customers represented 20% and 18% of the Company's consolidated net sales for the three months ended September 30, 2024 and 2023, respectively. No other individual foreign country represented 10% or more of the Company's consolidated net sales for the three months ended September 30, 2024 or 2023. Sales to Singapore customers represented 21% and 18% of the Company's consolidated net sales for the nine months ended September 30, 2024 and 2023, respectively. No other individual foreign country represented 10% or more of the Company's consolidated net sales for the nine months ended September 30, 2024 or 2023. Business and Credit Concentrations Concentrations of risk with respect to trade accounts receivable are generally limited due to the large number of customers and their dispersion across several geographic areas. Although the Company does not foresee that credit risk associated with these receivables will deviate from historical experience, repayment is dependent upon the financial stability of those individual customers. The Company establishes allowances for credit losses and evaluates, on a monthly basis, the adequacy of those reserves based upon expected losses, historical experience and its expectation for future collectability concerns. No single customer accounted for 10% or more of consolidated net sales for the nine months ended September 30, 2024 or 2023. One customer accounted for approximately 24% and 23% of accounts receivable at September 30, 2024 and December 31, 2023, respectively. One customer accounted for 52% and 62% of long-term accounts receivable included in other non-current assets on the consolidated balance sheets related to sales-type leases at September 30, 2024 and December 31, 2023, respectively. Certain components from third parties used in the Company’s products are procured from single sources of supply. The failure of a supplier, including a subcontractor, to deliver on schedule could delay or interrupt the Company’s delivery of products and thereby materially adversely affect the Company’s revenues and operating results.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three and nine months ended September 30, 2024 was (4.4)% and (1.9)%, respectively, compared with (2.2)% and (5.2)%, for the corresponding periods in the prior year. The effective income tax rate is based on estimated income for the year, the estimated composition of the income in different jurisdictions and discrete adjustments, if any, in the applicable periods, including retroactive changes in tax legislation, settlements of tax audits or assessments, and the resolution or identification of tax position uncertainties. For the three and nine months ended September 30, 2024 and 2023, the effective tax rates differed from the statutory tax rate primarily due to the Company maintaining a valuation allowance reserve on its U.S. deferred tax assets, discrete tax adjustments and the composition of income from foreign jurisdictions taxed at lower rates. As of September 30, 2024 and December 31, 2023, the Company had reserves for uncertain tax positions of $733 and $673, respectively. There were no material changes during the nine months ended September 30, 2024 to the Company’s reserve for uncertain tax positions. The Company estimates that it is reasonably possible that the balance of unrecognized tax benefits as of September 30, 2024 may decrease $28 in the next twelve months as a result of a lapse of statutes of limitations and settlements with taxing authorities. The Company’s tax jurisdictions include the United States, the United Kingdom, Denmark, Cyprus, Norway, Brazil, Singapore, Japan and India. In general, the statute of limitations with respect to the Company's United States federal income taxes has expired for years prior to 2020, and the relevant state and foreign statutes vary. However, preceding years remain open to examination by United States federal and state and foreign taxing authorities to the extent of future utilization of net operating losses and research and development tax credits generated in each preceding year.

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases Lessee The Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $376 and $417 for the three months ended September 30, 2024 and 2023, respectively, and $1,095 and $1,291 for the nine months ended September 30, 2024 and 2023, respectively. Short-term operating lease costs were $20 and $15 for the three months ended September 30, 2024 and 2023, respectively, and $59 and $55 for the nine months ended September 30, 2024 and 2023, respectively. Maturities of lease liabilities as of September 30, 2024 under operating leases having an initial or remaining non-cancelable term of one year or more are as follows: Remainder of 2024 $ 336 2025 446 2026 156 2027 116 2028 and thereafter 113 Total minimum lease payments $ 1,167 Less amount representing interest $ (69) Present value of net minimum operating lease payments $ 1,098 Less current installments of obligation under current-operating lease liabilities $ 692 Obligations under long-term operating lease liabilities, excluding current installments $ 406 Weighted-average remaining lease term - operating leases (years) 2.12 Weighted-average discount rate - operating leases 5.50 % Lessor The Company enters into leases with certain customers primarily for the TracPhone VSAT systems. These leases are classified as sales-type leases because title to the equipment transfers to the customer at the end of the lease term. The Company records the leases at a price typically equivalent to normal selling price and in excess of the cost or carrying amount. Upon delivery, the Company records the net present value of all payments under these leases as product revenue, and the related costs of the product are charged to cost of sales. Interest income is recognized throughout the lease term (typically three Upon adoption of ASC 842, the Company elected to apply the practical expedient provided to lessors to combine the lease and non-lease component of a contract where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component. The current portion of the net investment in these leases was $3,011 as of September 30, 2024 and the non-current portion of the net investment in these leases was $2,913 as of September 30, 2024. The current portion of the net investment in the leases is included in accounts receivable, net of allowance for doubtful accounts on the accompanying consolidated balance sheets, and the non-current portion of the net investment in these leases is included in other non-current assets on the accompanying consolidated balance sheets. Interest income from sales-type leases was $108 and $159 during the three months ended September 30, 2024 and 2023, respectively, and $354 and $501 during the nine months ended September 30, 2024 and 2023, respectively. The future undiscounted cash flows from these leases as of September 30, 2024 are: Remainder of 2024 $ 1,320 2025 2,484 2026 1,467 2027 857 2028 311 2029 46 Total undiscounted cash flows $ 6,485 Present value of lease payments $ 5,924 Difference between undiscounted cash flows and discounted cash flows $ 561 In 2021, the Company began entering into three-year leases for its TracPhone VSAT systems, in which ownership of the hardware does not transfer to the lessee by the end of the lease term. As a result, and in light of other factors indicated in ASC 842, these leases are classified as operating leases. As of September 30, 2024, the gross costs and accumulated depreciation associated with these operating leases are included in revenue generating assets and amounted to $1,824 and $1,174, respectively. They are depreciated on a straight-line basis over a five-year estimated useful life. Depreciation expense for these assets was $95 and $282 for the three and nine months ended September 30, 2024, respectively. Lease revenue recognized was $79 and $295 for the three and nine months ended September 30, 2024, respectively, in service sales As of September 30, 2024, minimum future lease payments to be recognized on the operating leases are as follows: Remainder of 2024 $ 47 2025 25 Total $ 72
Leases	Leases Lessee The Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $376 and $417 for the three months ended September 30, 2024 and 2023, respectively, and $1,095 and $1,291 for the nine months ended September 30, 2024 and 2023, respectively. Short-term operating lease costs were $20 and $15 for the three months ended September 30, 2024 and 2023, respectively, and $59 and $55 for the nine months ended September 30, 2024 and 2023, respectively. Maturities of lease liabilities as of September 30, 2024 under operating leases having an initial or remaining non-cancelable term of one year or more are as follows: Remainder of 2024 $ 336 2025 446 2026 156 2027 116 2028 and thereafter 113 Total minimum lease payments $ 1,167 Less amount representing interest $ (69) Present value of net minimum operating lease payments $ 1,098 Less current installments of obligation under current-operating lease liabilities $ 692 Obligations under long-term operating lease liabilities, excluding current installments $ 406 Weighted-average remaining lease term - operating leases (years) 2.12 Weighted-average discount rate - operating leases 5.50 % Lessor The Company enters into leases with certain customers primarily for the TracPhone VSAT systems. These leases are classified as sales-type leases because title to the equipment transfers to the customer at the end of the lease term. The Company records the leases at a price typically equivalent to normal selling price and in excess of the cost or carrying amount. Upon delivery, the Company records the net present value of all payments under these leases as product revenue, and the related costs of the product are charged to cost of sales. Interest income is recognized throughout the lease term (typically three Upon adoption of ASC 842, the Company elected to apply the practical expedient provided to lessors to combine the lease and non-lease component of a contract where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component. The current portion of the net investment in these leases was $3,011 as of September 30, 2024 and the non-current portion of the net investment in these leases was $2,913 as of September 30, 2024. The current portion of the net investment in the leases is included in accounts receivable, net of allowance for doubtful accounts on the accompanying consolidated balance sheets, and the non-current portion of the net investment in these leases is included in other non-current assets on the accompanying consolidated balance sheets. Interest income from sales-type leases was $108 and $159 during the three months ended September 30, 2024 and 2023, respectively, and $354 and $501 during the nine months ended September 30, 2024 and 2023, respectively. The future undiscounted cash flows from these leases as of September 30, 2024 are: Remainder of 2024 $ 1,320 2025 2,484 2026 1,467 2027 857 2028 311 2029 46 Total undiscounted cash flows $ 6,485 Present value of lease payments $ 5,924 Difference between undiscounted cash flows and discounted cash flows $ 561 In 2021, the Company began entering into three-year leases for its TracPhone VSAT systems, in which ownership of the hardware does not transfer to the lessee by the end of the lease term. As a result, and in light of other factors indicated in ASC 842, these leases are classified as operating leases. As of September 30, 2024, the gross costs and accumulated depreciation associated with these operating leases are included in revenue generating assets and amounted to $1,824 and $1,174, respectively. They are depreciated on a straight-line basis over a five-year estimated useful life. Depreciation expense for these assets was $95 and $282 for the three and nine months ended September 30, 2024, respectively. Lease revenue recognized was $79 and $295 for the three and nine months ended September 30, 2024, respectively, in service sales As of September 30, 2024, minimum future lease payments to be recognized on the operating leases are as follows: Remainder of 2024 $ 47 2025 25 Total $ 72
Leases	Leases Lessee The Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $376 and $417 for the three months ended September 30, 2024 and 2023, respectively, and $1,095 and $1,291 for the nine months ended September 30, 2024 and 2023, respectively. Short-term operating lease costs were $20 and $15 for the three months ended September 30, 2024 and 2023, respectively, and $59 and $55 for the nine months ended September 30, 2024 and 2023, respectively. Maturities of lease liabilities as of September 30, 2024 under operating leases having an initial or remaining non-cancelable term of one year or more are as follows: Remainder of 2024 $ 336 2025 446 2026 156 2027 116 2028 and thereafter 113 Total minimum lease payments $ 1,167 Less amount representing interest $ (69) Present value of net minimum operating lease payments $ 1,098 Less current installments of obligation under current-operating lease liabilities $ 692 Obligations under long-term operating lease liabilities, excluding current installments $ 406 Weighted-average remaining lease term - operating leases (years) 2.12 Weighted-average discount rate - operating leases 5.50 % Lessor The Company enters into leases with certain customers primarily for the TracPhone VSAT systems. These leases are classified as sales-type leases because title to the equipment transfers to the customer at the end of the lease term. The Company records the leases at a price typically equivalent to normal selling price and in excess of the cost or carrying amount. Upon delivery, the Company records the net present value of all payments under these leases as product revenue, and the related costs of the product are charged to cost of sales. Interest income is recognized throughout the lease term (typically three Upon adoption of ASC 842, the Company elected to apply the practical expedient provided to lessors to combine the lease and non-lease component of a contract where the revenue recognition pattern is the same and where the lease component, when accounted for separately, would be considered an operating lease. The practical expedient also allows a lessor to account for the combined lease and non-lease components under ASC 606, Revenue from Contracts with Customers, when the non-lease component is the predominant element of the combined component. The current portion of the net investment in these leases was $3,011 as of September 30, 2024 and the non-current portion of the net investment in these leases was $2,913 as of September 30, 2024. The current portion of the net investment in the leases is included in accounts receivable, net of allowance for doubtful accounts on the accompanying consolidated balance sheets, and the non-current portion of the net investment in these leases is included in other non-current assets on the accompanying consolidated balance sheets. Interest income from sales-type leases was $108 and $159 during the three months ended September 30, 2024 and 2023, respectively, and $354 and $501 during the nine months ended September 30, 2024 and 2023, respectively. The future undiscounted cash flows from these leases as of September 30, 2024 are: Remainder of 2024 $ 1,320 2025 2,484 2026 1,467 2027 857 2028 311 2029 46 Total undiscounted cash flows $ 6,485 Present value of lease payments $ 5,924 Difference between undiscounted cash flows and discounted cash flows $ 561 In 2021, the Company began entering into three-year leases for its TracPhone VSAT systems, in which ownership of the hardware does not transfer to the lessee by the end of the lease term. As a result, and in light of other factors indicated in ASC 842, these leases are classified as operating leases. As of September 30, 2024, the gross costs and accumulated depreciation associated with these operating leases are included in revenue generating assets and amounted to $1,824 and $1,174, respectively. They are depreciated on a straight-line basis over a five-year estimated useful life. Depreciation expense for these assets was $95 and $282 for the three and nine months ended September 30, 2024, respectively. Lease revenue recognized was $79 and $295 for the three and nine months ended September 30, 2024, respectively, in service sales As of September 30, 2024, minimum future lease payments to be recognized on the operating leases are as follows: Remainder of 2024 $ 47 2025 25 Total $ 72

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring On February 9, 2024, the Board of Directors of the Company voted to implement a staged wind-down of the Company’s manufacturing activities at its facility in Middletown, Rhode Island. The Board made this determination following a strategic review of the Company’s manufacturing operations, driven by reduced demand for the Company’s hardware products in the face of intensifying competition during the third and fourth quarters of 2023. The Board concluded that the Company should discontinue its capital-intensive manufacturing activities and concentrate its efforts on growing sales of its multi-orbit, multi-channel, integrated communications solutions, which in recent years have constituted the largest portion of the Company’s overall revenues. The Company expects that it will continue its product manufacturing activities for a period of time in order to generate a targeted amount of inventory of maritime satellite connectivity and satellite television terminals to meet anticipated demand and that it will cease substantially all manufacturing activity at the Middletown facility by the end of 2025. The Company expects to continue to facilitate customer transition to third-party hardware products compatible with the Company’s mobile satellite communications services. The Company also plans to continue to conduct maintenance, service, warehousing, shipping and receiving activities at the Middletown location. As part of this restructuring, the Company reduced its headcount by approximately 75 employees, or approximately 20% of its total workforce as of the time the Company announced the restructuring. As of June 30, 2024, all employee terminations were completed. During the nine months ended September 30, 2024, the Company incurred $2.9 million of severance charges for this restructuring, which amount reflects a favorable $0.4 million correction in the three months ended September 30, 2024. The $2.9 million of severance charges incurred during the nine months ended September 30, 2024 consisted of approximately $2.6 million of cash charges and approximately $0.3 million of non-cash charges arising from pre-existing contractual obligations to accelerate vesting of certain outstanding equity compensation awards.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
2023 10-K - Revision for Correction of Immaterial Errors	2023 10-K - Revision for Correction of Immaterial Errors As stated in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, which was filed on March 15, 2024, the Company corrected for errors that were immaterial to its previously reported consolidated financial statements. These errors were identified in connection with the preparation of the Company's consolidated financial statements for the year ended December 31, 2023, and related primarily to the adoption and implementation of Accounting Standards Codification (“ASC”) No. 606, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018, specifically, the assessment of performance obligations associated with the sales of antennas and airtime-related equipment. The Company evaluated the materiality of these errors both qualitatively and quantitatively in accordance with Staff Accounting Bulletin (“SAB”) No. 99, Materiality, and SAB No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements, and determined that the effect of these corrections was not material to the previously issued financial statements. Therefore, the amounts in the previous period have been revised to reflect the correction of these errors.
Basis of Presentation	Basis of Presentation The accompanying consolidated interim financial statements of KVH Industries, Inc. and its wholly owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company has evaluated all subsequent events through the date of this filing. All significant intercompany accounts and transactions have been eliminated in consolidation. The consolidated interim financial statements have not been audited by the Company’s independent registered public accounting firm and include all adjustments (consisting of only normal recurring adjustments) which are, in the opinion of management, necessary for a fair presentation of the financial condition, results of operations, and cash flows for the periods presented. These consolidated interim financial statements do not include all disclosures associated with annual financial statements and accordingly should be read in conjunction with the Company’s consolidated financial statements and related notes included in the Company’s annual report on Form 10-K for the year ended December 31, 2023 filed on March 15, 2024 with the Securities and Exchange Commission. The results for the three and nine months ended September 30, 2024 are not necessarily indicative of operating results for the remainder of the year.
Significant Estimates and Assumptions and Other Significant Non-Recurring Transactions	Significant Estimates and Assumptions and Other Significant Non-Recurring Transactions The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of sales and expenses during the reporting periods. The estimates and assumptions used by management affect the Company’s revenue recognition, valuation of accounts receivable, valuation of inventory, expected future cash flows (including growth rates, discount rates, terminal values and other assumptions and estimates used to evaluate the recoverability of long-lived assets and goodwill), estimated fair values of long-lived assets (including goodwill, amortization methods and amortization periods), certain accrued expenses and other related charges, stock-based compensation, contingent liabilities, forfeitures and key valuation assumptions for its share-based awards, estimated fulfillment costs for warranty obligations, tax reserves and recoverability of the Company’s net deferred tax assets and related valuation allowance, and the valuation of right-of-use assets and lease liabilities. Although the Company regularly assesses these estimates, actual results could differ materially from these estimates. Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and various other assumptions that it believes to be reasonable under the circumstances.
Asset Held For Sale	Asset Held for Sale The Company classifies an asset as held for sale when management, having the authority to approve the action, commits to a plan to sell the asset, the sale is probable within one year and the asset is available for immediate sale in its present condition. The Company also considers whether an active program to locate a buyer has been initiated, whether the asset is marketed actively for sale at a price that is reasonable in relation to its current fair value and whether actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The Company initially measures an asset that is classified as held for sale at the lower of its carrying amount or fair value less costs to sell. Any loss resulting from this measurement is recognized in the period in which the held for sale criteria are met. Conversely, gains are not recognized until the date of sale. The Company assesses the fair value of an asset less costs to sell for each reporting period that it remains classified as held for sale and reports any subsequent changes as an adjustment to the carrying amount of the asset, as long as the new carrying amount does not exceed the carrying amount of the asset at the time it was initially classified as held for sale. Assets are not depreciated or amortized while they are classified as held for sale.
Foreign Currency Translation	Foreign Currency Translation The financial statements of the Company’s foreign subsidiaries located in Denmark, Singapore and Cyprus are maintained using the United States dollar as the functional currency. Exchange rates in effect on the date of the transaction are used to record monetary assets and liabilities. Revenue and other expense elements are recorded at rates that approximate the rates in effect on the transaction dates. Foreign currency exchange gains and losses are recognized within “other expense, net” in the accompanying consolidated statements of operations. The Company recorded net foreign currency exchange gains and losses, which are comprised of both realized and unrealized foreign currency exchange gains and losses, in its accompanying consolidated statements of operations of $(48) and $92 for the three months ended September 30, 2024 and 2023, respectively, and $(317) and $(18) for the nine months ended September 30, 2024 and 2023, respectively. The financial statements of the Company’s foreign subsidiaries located in the United Kingdom, Brazil, Norway, India and Japan use the foreign subsidiaries’ respective local currencies as the functional currency. The Company translates the assets and liabilities of these foreign subsidiaries at the exchange rates in effect at the end of each reporting period. Net sales, costs and expenses are translated using average exchange rates in effect during the period. Gains and losses from foreign currency translation are credited or charged to accumulated other comprehensive loss included in stockholders' equity in the accompanying consolidated balance sheets.
Recently Issued Accounting Standards and Accounting Standards Not yet Adopted	Recently Issued Accounting Standards and Accounting Standards Not yet Adopted There are no recent accounting pronouncements that have been issued by the FASB, that are not yet effective and that the Company expects would have a material impact on the Company's financial statements.
Fair Value Measurement	ASC Topic 820, Fair Value Measurements and Disclosures (ASC 820), provides a framework for measuring fair value and requires expanded disclosures regarding fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. The Company’s Level 1 assets are investments in money market mutual funds. Level 2: Quoted prices for similar assets or liabilities in active markets; or observable prices that are based on observable market data, based on directly or indirectly market-corroborated inputs. The Company has no Level 2 assets or liabilities. Level 3: Unobservable inputs that are supported by little or no market activity and are developed based on the best information available given the circumstances. The Company has no Level 3 assets.

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2024
Marketable Securities [Abstract]
Schedule of Marketable Securities	Marketable securities as of September 30, 2024 and December 31, 2023 consisted of the following: September 30, 2024 Amortized Gross Gross Fair Money market mutual funds $ 35,369 $ — $ — $ 35,369 Total marketable securities designated as available-for-sale $ 35,369 $ — $ — $ 35,369 December 31, 2023 Amortized Gross Gross Fair Money market mutual funds $ 58,477 $ — $ — $ 58,477 Total marketable securities designated as available-for-sale $ 58,477 $ — $ — $ 58,477

Stockholder's Equity (Tables)

Stockholder's Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	The weighted average assumptions utilized to determine the fair value of options granted during the nine months ended September 30, 2024 and 2023 are as follows: Nine Months Ended September 30, 2024 2023 Risk-free interest rate 4.36 % 4.49 % Expected volatility 48.63 % 43.93 % Expected life (in years) 4.32 4.30 Dividend yield 0 % 0 %
Schedule of Share-Based Compensation, Employee Stock Purchase Plan	The following table presents stock-based compensation expense, including expense for the ESPP, in the Company's consolidated statements of operations for the nine months ended September 30, 2024 and 2023, respectively: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Cost of service sales 8 6 $ 22 $ 15 Cost of product sales $ 5 $ 9 19 25 Research and development 63 162 326 399 Sales, marketing and support 74 63 219 160 General and administrative 235 319 1,043 834 $ 385 $ 559 $ 1,629 $ 1,433
Schedule of Accumulated Other Comprehensive Income (Loss)	The balances for the three months ended September 30, 2024 and 2023 are as follows: Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, June 30, 2024 $ (3,991) $ (3,991) Other comprehensive income 134 134 Net other comprehensive income 134 134 Balance, September 30, 2024 $ (3,857) $ (3,857) Foreign Currency Translation Total Accumulated Other Comprehensive Loss Balance, June 30, 2023 $ (3,955) $ (3,955) Other comprehensive loss (267) (267) Net other comprehensive loss (267) (267) Balance, September 30, 2023 $ (4,222) $ (4,222) The balances for the nine months ended September 30, 2024 and 2023 are as follows: Foreign Currency Translation Unrealized Gain (Loss) on Available for Sale Marketable Securities Total Accumulated Other Comprehensive Loss Balance, December 31, 2023 $ (4,185) $ — $ (4,185) Other comprehensive income 328 — 328 Net other comprehensive income 328 — 328 Balance, September 30, 2024 $ (3,857) $ — $ (3,857) Foreign Currency Translation Unrealized (Loss) Gain on Available for Sale Marketable Securities Total Accumulated Other Comprehensive Loss Balance, December 31, 2022 $ (4,098) $ (12) $ (4,110) Other comprehensive (loss) income (124) 12 (112) Net other comprehensive (loss) income (124) 12 (112) Balance, September 30, 2023 $ (4,222) $ — $ (4,222)

Net Loss per Common Share (Tabl

Net Loss per Common Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted Weighted Average Common Shares Outstanding	A reconciliation of the basic and diluted weighted average common shares outstanding is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Weighted average common shares outstanding—basic 19,433 19,231 19,367 19,090 Dilutive common shares issuable in connection with stock plans — — — — Weighted average common shares outstanding—diluted 19,433 19,231 19,367 19,090

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	Components of inventories consist of the following: September 30, December 31, Raw materials $ 15,754 $ 11,352 Work in process 3,758 2,617 Finished goods 5,691 5,077 $ 25,203 $ 19,046

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	September 30, December 31, Prepaid Starlink pooled data $ 15,759 $ — Other prepaid expenses and other current assets 4,772 4,331 $ 20,531 $ 4,331

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net, as of September 30, 2024 and December 31, 2023 consist of the following: September 30, December 31, Land $ — $ 2,833 Building and improvements — 18,839 Leasehold improvements 340 445 Machinery and equipment 6,018 5,989 Revenue-generating assets 63,562 60,984 Office and computer equipment 10,414 14,213 Motor vehicles 31 31 80,365 103,334 Less accumulated depreciation (50,471) (55,654) $ 29,894 $ 47,680

Product Warranty (Tables)

Product Warranty (Tables)	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Activity	The following table summarizes product warranty activity during 2024 and 2023: Nine Months Ended September 30, 2024 2023 Beginning balance $ 828 $ 1,287 Charges to expense 398 521 Costs incurred (642) (1,166) Ending balance $ 584 $ 642

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on Recurring Basis	The following tables present financial assets and liabilities at September 30, 2024 and December 31, 2023 for which the Company measures fair value on a recurring basis, by level, within the fair value hierarchy: September 30, 2024 Total Level 1 Level 2 Level 3 Valuation Assets Money market mutual funds $ 35,369 $ 35,369 $ — $ — (a) December 31, 2023 Total Level 1 Level 2 Level 3 Valuation Assets Money market mutual funds $ 58,477 $ 58,477 $ — $ — (a) (a) Market approach—prices and other relevant information generated by market transactions involving identical or comparable assets.

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The changes in the carrying amount of intangible assets during the nine months ended September 30, 2024 are as follows: Amounts Balance at December 31, 2023 $ 1,194 Amortization expense (303) Intangible assets acquired in asset acquisition 31 Balance at September 30, 2024 $ 922 Acquired intangible assets are subject to amortization. The following table summarizes acquired intangible assets at September 30, 2024 and December 31, 2023, respectively: Gross Carrying Amount Accumulated Amortization Net Carrying Value September 30, 2024 Subscriber relationships $ 42 $ 8 $ 34 Distribution rights 1,250 362 888 Intellectual property 2,284 2,284 — $ 3,576 $ 2,654 $ 922 December 31, 2023 Subscriber relationships $ 11 $ 1 $ 10 Distribution rights 1,250 66 1,184 Intellectual property 2,284 2,284 — $ 3,545 $ 2,351 $ 1,194
Schedule of Expected Amortization Expense	Estimated future amortization expense for intangible assets recorded by the Company at September 30, 2024 is as follows: Years ending December 31, Amortization 2024 $ 102 2025 410 2026 410 Total amortization expense $ 922

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table summarizes net sales from contracts with customers for the nine months ended September 30, 2024 and 2023: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Service - over time 24,410 29,397 $ 74,122 $ 86,883 Product - point in time $ 4,561 $ 3,798 12,789 14,041 Total net sales $ 28,971 $ 33,195 $ 86,911 $ 100,924

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Future Minimum Lease Payments Under Operating Leases	Maturities of lease liabilities as of September 30, 2024 under operating leases having an initial or remaining non-cancelable term of one year or more are as follows: Remainder of 2024 $ 336 2025 446 2026 156 2027 116 2028 and thereafter 113 Total minimum lease payments $ 1,167 Less amount representing interest $ (69) Present value of net minimum operating lease payments $ 1,098 Less current installments of obligation under current-operating lease liabilities $ 692 Obligations under long-term operating lease liabilities, excluding current installments $ 406 Weighted-average remaining lease term - operating leases (years) 2.12 Weighted-average discount rate - operating leases 5.50 %
Schedule of Sales-Type Lease, Future Undiscounted Cash Flows	The future undiscounted cash flows from these leases as of September 30, 2024 are: Remainder of 2024 $ 1,320 2025 2,484 2026 1,467 2027 857 2028 311 2029 46 Total undiscounted cash flows $ 6,485 Present value of lease payments $ 5,924 Difference between undiscounted cash flows and discounted cash flows $ 561
Schedule of Future Minimum Lease Payments to be Received Under Operating Leases	As of September 30, 2024, minimum future lease payments to be recognized on the operating leases are as follows: Remainder of 2024 $ 47 2025 25 Total $ 72

Description of Business (Detail

Description of Business (Details)	Sep. 30, 2024 country
Property, Plant and Equipment [Line Items]
Number of countries in which entity operates	150
Revenue-generating assets | Minimum
Property, Plant and Equipment [Line Items]
Leased assets, useful life	2 years
Revenue-generating assets | Maximum
Property, Plant and Equipment [Line Items]
Leased assets, useful life	5 years

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounting Policies [Abstract]
Foreign currency exchange gains (losses)	$ (48)	$ 92	$ (317)	$ (18)

Marketable Securities (Details)

Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 35,369	$ 58,477
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	35,369	58,477
Money market mutual funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	35,369	58,477
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 35,369	$ 58,477

Marketable Securities - Narrati

Marketable Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Marketable Securities [Abstract]
Interest income from marketable securities	$ 466	$ 744	$ 1,892	$ 2,019

Stockholder's Equity - Narrativ

Stockholder's Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment	$ 385	$ 559	$ 1,629	$ 1,433
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 1,428		$ 1,428
Weighted-average period of recognition			2 years 7 months 9 days
Shares issued (in shares)	0		0
Restricted stock surrendered (in shares)	0		0
Stock options granted (in shares)	0		266,000	317,000
Stock options expired (in shares)	230,000		501,000	564,000
Stock options outstanding (in shares)	995,000		995,000
Stock options outstanding, weighted average exercise price (in USD per share)	$ 8.23		$ 8.23
Stock options exercisable (in shares)	410,000		410,000
Exercisable stock options, weighted average exercise price (in USD per share)	$ 9.32		$ 9.32
Stock Options | ESPP Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment	$ 384	558	$ 1,622	$ 1,408
Employee Stock | ESPP Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment	$ 1	$ 1	$ 7	$ 25
Percentage of Company's common stock share price	85%		85%
Stock options issued ESPP (in shares)	0	17,000	24,000	17,000
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 2,002		$ 2,002
Weighted-average period of recognition			2 years 2 months 19 days
Restricted stock (in shares)	85,000		207,000
Restricted stock, weighted average price (in USD per share)	$ 4.51		$ 4.82
Restricted stock award, forfeitures, less than (in shares)	0		43,000
Restricted stock vested (in shares)	16,000		158,000
Unvested outstanding options (in shares)	0		0
Performance-Based or Market-Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested outstanding options (in shares)	0		0

Stockholder's Equity - Weighted

Stockholder's Equity - Weighted Average Assumptions (Details) - Stock Options	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	4.36%	4.49%
Expected volatility	48.63%	43.93%
Expected life (in years)	4 years 3 months 25 days	4 years 3 months 18 days
Dividend yield	0%	0%

Stockholder's Equity - Schedule

Stockholder's Equity - Schedule of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 385	$ 559	$ 1,629	$ 1,433
Cost of sales | Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	8	6	22	15
Cost of sales | Product
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	5	9	19	25
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	63	162	326	399
Sales, marketing and support
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	74	63	219	160
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 235	$ 319	$ 1,043	$ 834

Stockholder's Equity - Schedu_2

Stockholder's Equity - Schedule of AOCL (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
AOCI Attributable to Parent [Roll Forward]
Beginning balance		$ 143,378	$ 162,713	$ 147,372	$ 158,438
Other comprehensive (loss) income		134	(267)	328	(112)
Net other comprehensive (loss) income	[1]	134	(267)	328	(112)
Ending balance		142,698	158,893	142,698	158,893
Foreign Currency Translation
AOCI Attributable to Parent [Roll Forward]
Beginning balance		(3,991)	(3,955)	(4,185)	(4,098)
Other comprehensive (loss) income		134	(267)	328	(124)
Net other comprehensive (loss) income		134	(267)	328	(124)
Ending balance		(3,857)	(4,222)	(3,857)	(4,222)
Unrealized Gain (Loss) on Available for Sale Marketable Securities
AOCI Attributable to Parent [Roll Forward]
Beginning balance				0	(12)
Other comprehensive (loss) income				0	12
Net other comprehensive (loss) income				0	12
Ending balance		0	0	0	0
Total Accumulated Other Comprehensive Loss
AOCI Attributable to Parent [Roll Forward]
Beginning balance		(3,991)	(3,955)	(4,185)	(4,110)
Net other comprehensive (loss) income		134	(267)	328	(112)
Ending balance		$ (3,857)	$ (4,222)	$ (3,857)	$ (4,222)
[1]Tax impact was nominal for all periods.

Net Loss per Common Share - Nar

Net Loss per Common Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,165	1,572	1,088	1,053

Net Loss per Common Share - Rec

Net Loss per Common Share - Reconciliation of Basic and Diluted Weighted Average Common Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of reconciliation of basic and diluted weighted average common shares outstanding
Weighted average common shares outstanding—basic (in shares)	19,433	19,231	19,367	19,090
Dilutive common shares issuable in connection with stock plans (in shares)	0	0	0	0
Weighted average common shares outstanding—diluted (in shares)	19,433	19,231	19,367	19,090

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 15,754	$ 11,352
Work in process	3,758	2,617
Finished goods	5,691	5,077
Inventories, net	$ 25,203	$ 19,046

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Starlink pooled data	$ 15,759	$ 0
Other prepaid expenses and other current assets	4,772	4,331
Prepaid expenses and other current assets	$ 20,531	$ 4,331

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 80,365	$ 103,334
Less accumulated depreciation	(50,471)	(55,654)
Property and equipment, less accumulated depreciation	29,894	47,680
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	2,833
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	18,839
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	340	445
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,018	5,989
Revenue-generating assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	63,562	60,984
Office and computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	10,414	14,213
Motor vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 31	$ 31

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation	$ 3,163,000	$ 3,180,000	$ 9,947,000	$ 9,952,000
Property and equipment, carrying value	80,365,000		80,365,000		$ 103,334,000
Impairment charge			1,100,000	$ 0
Warehouse Building
Property, Plant and Equipment [Line Items]
Property and equipment, carrying value	7,800,000		7,800,000
Impairment charge	1,100,000		1,100,000
50 Enterprise Center
Property, Plant and Equipment [Line Items]
Property and equipment, carrying value	$ 3,600,000		$ 3,600,000

Product Warranty - Narrative (D

Product Warranty - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Product Warranty (Textual) [Abstract]
Accrued product warranty costs	$ 584	$ 828
Minimum
Product Warranty (Textual) [Abstract]
Limited warranty period on product	1 year
Maximum
Product Warranty (Textual) [Abstract]
Limited warranty period on product	2 years

Product Warranty - Schedule of

Product Warranty - Schedule of Product Warranty Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Summary of product warranty activity
Beginning balance	$ 828	$ 1,287
Charges to expense	398	521
Costs incurred	(642)	(1,166)
Ending balance	$ 584	$ 642

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Money market mutual funds - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 35,369	$ 58,477
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	35,369	58,477
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Impairment charge	$ 1,100,000	$ 0

Intangible Assets - Intangible

Intangible Assets - Intangible Assets Changes in Carrying Amount (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 1,194
Amortization expense	(303)
Intangible assets acquired in asset acquisition	31
Ending balance	$ 922

Intangible Assets - Narrative (

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		120 Months Ended
	Jan. 31, 2017	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2026
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired in asset acquisition				$ 31
Amortization expense				$ 303
Weighted average remaining useful lives		2 years 3 months 18 days		2 years 3 months 18 days
General and administrative
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 102	$ 19	$ 303	$ 167
Kognitive Networks | Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives		3 years		3 years
Q1 2017 Acquisition | Maximum | Forecast
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired in asset acquisition						$ 114
Q1 2017 Acquisition | Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives	10 years
Intangible assets acquired in asset acquisition	$ 100

Intangible Assets - Goodwill an

Intangible Assets - Goodwill and Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,576	$ 3,545
Accumulated Amortization	2,654	2,351
Total amortization expense	922	1,194
Subscriber relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	42	11
Accumulated Amortization	8	1
Total amortization expense	34	10
Distribution rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,250	1,250
Accumulated Amortization	362	66
Total amortization expense	888	1,184
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,284	2,284
Accumulated Amortization	2,284	2,284
Total amortization expense	$ 0	$ 0

Intangible Assets - Future Amor

Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 102
2025	410
2026	410
Total amortization expense	$ 922	$ 1,194

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from External Customer [Line Items]
Total net sales	$ 28,971	$ 33,195	$ 86,911	$ 100,924
Mobile Connectivity | Service | Transferred over time
Revenue from External Customer [Line Items]
Total net sales	24,410	29,397	74,122	86,883
Mobile Connectivity | Product | Transferred at point in time
Revenue from External Customer [Line Items]
Total net sales	$ 4,561	$ 3,798	$ 12,789	$ 14,041

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Narrative (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenue Benchmark | Geographic Concentration Risk | Non-US
Disaggregation of Revenue [Line Items]
Concentration risk	71%	70%	72%	67%
Revenue Benchmark | Geographic Concentration Risk | Singapore
Disaggregation of Revenue [Line Items]
Concentration risk	20%	18%	21%	18%
Accounts Receivable | Customer Concentration Risk | Customer One
Disaggregation of Revenue [Line Items]
Concentration risk			24%		23%
Accounts Receivable, Sales-Type Leases | Customer Concentration Risk | Customer Two
Disaggregation of Revenue [Line Items]
Concentration risk			52%		62%
Mobile Comm Product Sales | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	16%	11%	15%	14%
VSAT Airtime Service Sales | Revenue Benchmark | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	69%	83%	74%	81%

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(4.40%)	(2.20%)	(1.90%)	(5.20%)
Liability for uncertain tax positions	$ 733		$ 733		$ 673
Decrease in unrecognized tax benefits is reasonably possible	$ 28		$ 28

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 376	$ 417	$ 1,095	$ 1,291
Short-term lease costs	20	15	59	55
Net investment in lease, current	3,011		3,011
Net investment in lease, noncurrent	2,913		2,913
Sales-type lease, interest income	108	$ 159	354	$ 501
Lessor, operating lease, term of contract					3 years
Lessor, operating lease, gross costs	1,824		1,824
Lessor, operating lease, accumulated depreciation	1,174		$ 1,174
Lessor, operating lease, useful life			5 years
Depreciation expense	95		$ 282
Lease revenue	$ 79		$ 295
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax		Revenue from Contract with Customer, Excluding Assessed Tax
Minimum
Lessee, Lease, Description [Line Items]
Sales-type leases, term of contracts	3 years		3 years
Maximum
Lessee, Lease, Description [Line Items]
Sales-type leases, term of contracts	5 years		5 years

Leases - Future Minimum Operati

Leases - Future Minimum Operating Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 336
2025	446
2026	156
2027	116
2028 and thereafter	113
Total minimum lease payments	1,167
Less amount representing interest	(69)
Present value of net minimum operating lease payments	1,098
Less current installments of obligation under current-operating lease liabilities	692	$ 786
Obligations under long-term operating lease liabilities, excluding current installments	$ 406	$ 289
Weighted-average remaining lease term - operating leases (years)	2 years 1 month 13 days
Weighted-average discount rate - operating leases	5.50%

Leases - Sales-type Lease Futur

Leases - Sales-type Lease Future Undiscounted Cash Flows (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 1,320
2025	2,484
2026	1,467
2027	857
2028	311
2029	46
Total undiscounted cash flows	6,485
Present value of lease payments	5,924
Difference between undiscounted cash flows and discounted cash flows	$ 561

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments Receivable (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 47
2025	25
Total	$ 72

Restructuring (Details)

Restructuring (Details) $ in Millions		3 Months Ended	9 Months Ended
	Feb. 09, 2024 USD ($) employee	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | employee	75
Percentage of workforce reduction	20%
Severance charges		$ (0.4)	$ 2.9
Employee Severance, Cash Charges
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 2.6
Employee Severance, Equity Compensation Awards
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 0.3