today. and everyone Good us Don. morning, you thank for Thanks, joining
challenges. the prepared held the second to economic companies, and most health a So segments we these incredible relating range face as that scenarios, I’m happy and the up case pandemic. uncertainty global our well for of entered business of was quarter anticipated global COVID-XX while the with of both say, however, we for from in
was last $XX revenue compared QX X% of quarterly million, to Our year. only down
Our VSAT strong. shipments remained
continued revenue airtime Our to grow.
and healthy, gross Our FOG expanded. our margins sales and were TACNAV
pleased face we are experienced. results the the for challenges the in the We all very with quarter of
worked capacity to no ran our second early implemented outbreaks maintain shelf hard on a the no Both employees health while as products quarter. expenses spending factories full our the and managed in and supply have continue health result, amongst shipments, at of resulting every business. to an We our that very We We and issues our the throughout around continue and chain also We operating of sustaining reduced almost decisively. acted no aggressively. deliver. we We array be safety able initiatives, manage operational missed to we globe. to And area. in our
$XX,XXX. for those avoid layoffs QX under In for exception planned addition, board pay The layoffs with the our are across we of These the during team. enabled and the largest steps making reductions executive were future. reduced temporarily us to no
our these of $XXX,XXX $XX strong a ago, loss operations the quarter. this year. a cash in EBITDA efforts year Together, efforts, we to continuing us getting cut breakeven our sequentially of to maintain improved of result versus by We for position As million. QX half enabled from us for these a
combination now validate product well our We’re total results over increase as of commercial as defense closures products, despite hopefully also us hardware port which all These strategy and markets. worst to weather competitors. and of to our services backlog, crisis. we part of enables what of able on believe continuing we our restrictions, market install to is and our million significantly our travel and the gained By this share deliver was $XX across diversification
While the future. for well positioned there’s uncertainty much still ahead, we’re
significant and facing were Connectivity visits Mobile of of ship to boat XX,XXX declined industry. an closing shipping share XX,XXX the products. for like state per average merchants, manufacturers day questions continued the about of the Nevertheless, from yards, segment. Commercial boat per the port down. details, to beginning our I’d day. with We some The quarter Now all we marinas to maritime entered barely mass
key Our OEMs visits U.S. weeks. that past and marinas both steadily OEMs day boat through mid-May followed directly and opened roughly open, and month. suit later remained averaging increased distributor service our product for providers. sales the airtime and a Port continued in yards few have and XX,XXX International
June. QX in continued three in flavors really May major a a softness came April, in with As result, shutdown a then resurgence in and
of just million, over Our down QX subscriptions the following the Connectivity luxury and systems Key we lines and Even sales TV built so, retail of VSAT were of Mobile our contributors decline were content satellite units from $X year. slow decline more million sales last hotels. the overall $XX.X marine and this than during shipped quarter. cruise shutdown in a anticipated to we
a versus as That’s revenue earlier positive our X% high. our in HTS strategy by year up represents In also subscribers Airtime margins of XX%. Airtime increased a subscribers almost only from decline X were progress QX points last versus which QX fact, record XXXX, was our it X%. of was network. up year, adding through we modest of
and now suspensions While return to are an did quarter, suspensions we at see vessels the outpacing increase the churn reactivations of as service. active in start
and a and that to promotions see upgrades AgilePlans during in this plans. spike airtime encourage for our ARPU increased milestones did airtime We driven VSAT actually terminations not services quarter by higher data the we plant HTS two importantly, group our achieved slightly, More products, quarter. in
more subscribers the now VSAT HTS our network. first $XX our on surpassed are VSAT than quarterly Our revenues time and for airtime of XX% million
demand of new year and these convert to We’ve the these needs a More crew operational end many as through XXX We ARPU. plan well the data and vessels pandemic, changes crew on took for launched calling. driven by as than airtime upgrades result increased as of and demand discount halted. welfare increases. contributing ongoing the to offers a plan hope extended including increased, advantage April, As offers of the were of our HTS to crew response in upgrades permanent airtime several airtime to network directly in
service and installations AgilePlans as from up with earlier. start record June. achieved Pacific Our and QX. product slow from AgilePlans customers of the April for month in to new with revenues Subscription all Greece, in sequentially the a number during Despite were region. contributed XX% in Turkey, continued a with sales QX, to and year Asia restrictions, along in we single connectivity well up QX perform the XX% of a travel new product port a strong a addition quarter fleets Norway and
the services the sales while and us market enabled our to financial gone stability and sustain our and strength faltered channel into performance, business have of some bankruptcy. Our competitors in
including airtime another that this than vessels product marinas, that already while slow winning boat with in in using much competitors’ opportunities closed. leisure competitor were XX was We’re were to fleet builders for and we’re board. successfully Asia the a of more as QX sales from aggressively pursuing of fleet and KVH market, transitioning creates retail on another the antenna In stores
you and and appealing June market to the Barring throughout QX. TV consumers day However, to the as is recovery a to when QX way channels an social boats. to we back Internet especially their sales began leisure shutdowns, leisure connectivity. further have on distance, continue saw Apparently, headed we reopen water and stronger in expect
Many vessels, commercial we Among the however, for crew. months. NEWSlink of demand decline. XX% of upwards of roughly hotels. revenue the and rotate strong have their company half unable of and to million to represents total fares very I to the about As continue was hit these our lines earlier, or been This X year-over-year for declined cruise off the mentioned $X.X quarterly of sea content resort due sales segment engagement by ships see and business shutdowns hard
unique strong with This keeps as powered KVH down. as shut Link, Our especially Media touch Inmarsat true services, differentiator industry. now the in offering and by home is Fleet entertained solution, in a competing such were while content them IP-MobileCast,
with the service. data the vessel IoT the and service all progress remote to are clearly value Watch remote IoT solution. few Watch supported lockdowns troubleshoot our months illustrate access by of a making which as the KVH access, ability and physical to also over of last without connectivity our The monitoring quarantines harbor vessel, We’re
number This our keep is ago. with introduction pipeline new large a prospects, strategic our following have few of efforts. long-term a development beta a during of the for along weeks of hard capability a on installations KVH. to underway, cost reduction track remote We worked initiative export intervention We momentum
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our lockdown. in early the but Inertial quarter, market, delivery dramatically in million is for countries in emerged sales million $XX started slowed Within the the as scheduled from systems recover Inertial Of $XX business, XXXX. for backlog to international then
represents optic represents and ago, goal we After for a was, a revolutionized IMU. the unit, introducing IMU, photonic photonic technology both milestone or the news rocket year, the huge as precision being the first PIC PIC years be for very a high-performance these new of manufacturing. of a first use a QX first our for with to step the is we the chip Inertial P-XXXX did. QX, that end gyro to production by was set next which first the did. using end new inside. company. commercial production into it set we by also PIC ship by Inertial fiber move technology applications equipped and our X chip designed the last system technology has of The systems quarter customer. course, such the and to It’s G the This inside. the P-XXXX production in shipment new exciting with the most we The high system Our of of It out our
Now executing technology to the the photonic all chip into plan our our XXXX. Inertial of incorporate products end we’re by
delivering I’m hardware and the of conclusion, the face the staff all ports team incredibly over chains the our most in running, history. world our trying So of did juggling these amazing. was and factories company’s delivering results Keeping in the supply working in proud installing job remotely, in quarter and
uncertain. closely the quarter. However, continue implemented disciplines cost end our the global remains at the business the pandemic of of the to of overall Therefore, we monitoring health maintaining proceed impact cautiously, on we ongoing that will the the first and economy
initiatives. focus we’ll detail on and the It our now Don for stabilize, more on in executing beyond. to to over continue will the XXXX And strategic and be growth for financial revenue call the our turn I’ll back things earnings Don? foundation results. As
