0001007587-24-000005 | 10-Q | XBRL Viewer

Product Warranty (Tables)

3 Months Ended

Mar. 31, 2024

Product Warranties Disclosures [Abstract]

The following table summarizes product warranty activity during 2024 and 2023:


	Three Months Ended
	March 31,
	2024		2023
Beginning balance	$	828	$	1,287
Charges to expense	264		44
Costs incurred	(366)		(619)
Ending balance	$	726	$	712

Inventories

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Inventories

Inventories are stated at the lower of cost or net realizable value using the first-in first-out costing method. Inventories as of March 31, 2024 and December 31, 2023 include the costs of material, labor, and factory overhead. Components of inventories consist of the following:


	March 31, 2024		December 31, 2023
Raw materials	$	11,547	$	11,352
Work in process	3,310		2,617
Finished goods	4,232		5,077
	$	19,089	$	19,046

Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 55,196	$ 58,477
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	55,196	58,477
Money market mutual funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	55,196	58,477
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	$ 55,196	$ 58,477

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

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 three months ended March 31, 2024 and 2023:


	Three Months Ended
	March 31,
		2024		2023
Service - over time		$	25,038	$	28,740
Product - point in time		4,229		5,403



Total net sales		$	29,267	$	34,143

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 14% and 16% of the Company's consolidated net sales for the three months ended March 31, 2024 and 2023, respectively. Service sales of VSAT Broadband airtime service accounted for 78% and 79% of the Company's consolidated net sales for the three months ended March 31, 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 72% and 65% of consolidated net sales for the three months ended March 31, 2024 and 2023, respectively. Sales to Singapore customers represented 22% and 18% of the Company's consolidated net sales for the three months ended March 31, 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 March 31, 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 three months ended March 31, 2024 or 2023. One customer accounted for approximately 20% and 23% of accounts receivable at March 31, 2024 and December 31, 2023, respectively. One customer accounted for 61% and 62% of long-term accounts receivable included in other non-current assets on the consolidated balance sheets related to sales-type leases at March 31, 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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Property and Equipment (Tables)

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment, net, as of March 31, 2024 and December 31, 2023 consist of the following:


	March 31, 2024		December 31, 2023
Land	$	2,833	$	2,833
Building and improvements	18,839		18,839
Leasehold improvements	442		445
Machinery and equipment	6,001		5,989
Revenue-generating assets	60,425		60,984
Office and computer equipment	14,931		14,213
Motor vehicles	31		31
	103,502		103,334
Less accumulated depreciation	(57,272)		(55,654)
	$	46,230	$	47,680

Stockholder's Equity - Schedule of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 522	$ 296
Cost of Sales \| Product
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	9	7
Cost of Sales \| Service
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7	4
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	89	88
Sales, marketing and support
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	71	38
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 346	$ 159

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,138	$ 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)	21,205,364	21,066,899
Common stock, shares outstanding (in shares)	19,749,255	19,610,790
Treasury stock at cost, outstanding (in shares)	1,456,109	1,456,109

Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2024

Marketable Securities [Abstract]

Marketable Securities

Marketable securities as of March 31, 2024 and December 31, 2023 consisted of the following:


March 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Money market mutual funds	$	55,196	$	—	$	—	$	55,196

Total marketable securities designated as available-for-sale	$	55,196	$	—	$	—	$	55,196


December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Money market mutual funds	$	58,477	$	—	$	—	$	58,477


Total marketable securities designated as available-for-sale	$	58,477	$	—	$	—	$	58,477

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Stockholder's Equity

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

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. On June 8, 2022, at the Company's 2022 Annual Meeting of Stockholders, the stockholders of the Company approved an amendment and restatement of the Company’s current equity compensation plan to increase the number of shares of common stock reserved for issuance under the plan by 1,280 shares, from 4,800 shares to 6,080 shares (excluding rollover shares). Stock-based compensation expense was $517 and $284, excluding $5 and $12 of compensation expense related to our Amended and Restated 1996 Employee Stock Purchase Plan, or the ESPP, for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, there was $1,918 of total unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 2.68 years. As of March 31, 2024, there was $2,399 of total unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted-average period of 2.65 years.

Stock Options

During the three months ended March 31, 2024, no shares of common stock were issued upon the exercise of stock options. Additionally, during the three months ended March 31, 2024, 266 stock options were granted and 14 stock options expired, were canceled or were forfeited. During the three months ended March 31, 2023, 317 stock options were granted. 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 three months ended March 31, 2024 and 2023 are as follows:



	Three Months Ended March 31,
	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 March 31, 2024, there were 1,482 options outstanding with a weighted average exercise price of $8.75 per share and 641 options exercisable with a weighted average exercise price of $9.86 per share.

Restricted Stock

During the three months ended March 31, 2024, 122 shares of restricted stock were granted with a weighted average grant date fair value of $5.03 per share and 8 shares of restricted stock were forfeited. Additionally, during the three months ended March 31, 2024, 66 shares of restricted stock vested, of which no shares of common stock were surrendered to the Company as payment by employees in lieu of cash to satisfy minimum tax withholding obligations in connection with the vesting of restricted stock.

As of March 31, 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 March 31, 2024 and 2023, 24 and 0 shares were issued under the ESPP plan, respectively. The Company recorded compensation charges related to the ESPP of $5 and $12 for the three months ended March 31, 2024 and 2023, respectively.

The following table presents stock-based compensation expense, including expense for the ESPP, in the Company's consolidated statements of operations for the three months ended March 31, 2024 and 2023, respectively:


	Three Months Ended March 31,
		2024		2023
Cost of service sales		$	7	$	4
Cost of product sales		9		7
Research and development		89		88
Sales, marketing and support		71		38
General and administrative		346		159
		$	522	$	296

(d) Accumulated Other Comprehensive Loss (AOCL)

Comprehensive income (loss) includes net income (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 income (loss) and the effect on earnings for the periods presented are detailed in the accompanying consolidated statements of comprehensive (loss) income.

The balances for the three months ended March 31, 2024 and 2023 are as follows:



	Foreign Currency Translation		Unrealized (Loss) Gain on Available for Sale Marketable Securities		Total Accumulated Other Comprehensive Loss
Balance, December 31, 2023	$	(4,185)	$	—	$	(4,185)
Other comprehensive income	229		—		229
Net other comprehensive income	229		—		229
Balance, March 31, 2024	$	(3,956)	$	—	$	(3,956)



	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 income	66		13		79

Net other comprehensive income	66		13		79
Balance, March 31, 2023	$	(4,032)	$	1	$	(4,031)

Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

Lessee

The Company has operating leases for office facilities, equipment, and satellite service capacity and related equipment. Lease expense was $353 and $452 for the three months ended March 31, 2024 and 2023, respectively. Short-term operating lease costs were $19 and $25 for the three months ended March 31, 2024 and 2023, respectively. Maturities of lease liabilities as of March 31, 2024 under operating leases having an initial or remaining non-cancelable term of one year or more are as follows:


Remainder of 2024	$	1,023
2025	349
2026	116
2027	110
2028 and thereafter	107
Total minimum lease payments	$	1,705

Less amount representing interest	$	(96)
Present value of net minimum operating lease payments	$	1,609
Less current installments of obligation under current-operating lease liabilities	$	1,211
Obligations under long-term operating lease liabilities, excluding current installments	$	398

Weighted-average remaining lease term - operating leases (years)	2.00
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 to five years) using an implicit interest rate. The sales-type leases do not have unguaranteed residual assets.

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 $3,284 as of March 31, 2024 and the non-current portion of the net investment in these leases was $3,269 as of March 31, 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 $129 and $168 during the three months ended March 31, 2024 and 2023, respectively.

The future undiscounted cash flows from these leases as of March 31, 2024 are:


Remainder of 2024	$	2,989
2025	2,150
2026	1,188
2027	658
2028	230
2029	9
Total undiscounted cash flows	$	7,224

Present value of lease payments	$	6,553
Difference between undiscounted cash flows and discounted cash flows	$	671

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 March 31, 2024, the gross costs and accumulated depreciation associated with these operating leases are included in revenue generating assets and amounted to $1,861 and $975, respectively. They are depreciated on a straight-line basis over a five-year estimated useful life. Depreciation expense for these assets was $93 for the three months ended March 31, 2024, respectively.

Lease revenue recognized was $125 for the three months ended March 31, 2024, respectively, in service sales in the consolidated statements of operations.

As of March 31, 2024, minimum future lease payments to be recognized on the operating leases are as follows:


Remainder of 2024	$	217
2025	25




Total	$	242

Leases

Lessee


Remainder of 2024	$	1,023
2025	349
2026	116
2027	110
2028 and thereafter	107
Total minimum lease payments	$	1,705

Less amount representing interest	$	(96)
Present value of net minimum operating lease payments	$	1,609
Less current installments of obligation under current-operating lease liabilities	$	1,211
Obligations under long-term operating lease liabilities, excluding current installments	$	398

Weighted-average remaining lease term - operating leases (years)	2.00
Weighted-average discount rate - operating leases	5.50		%

Lessor

The future undiscounted cash flows from these leases as of March 31, 2024 are:


Remainder of 2024	$	2,989
2025	2,150
2026	1,188
2027	658
2028	230
2029	9
Total undiscounted cash flows	$	7,224

Present value of lease payments	$	6,553
Difference between undiscounted cash flows and discounted cash flows	$	671

Lease revenue recognized was $125 for the three months ended March 31, 2024, respectively, in service sales in the consolidated statements of operations.

As of March 31, 2024, minimum future lease payments to be recognized on the operating leases are as follows:


Remainder of 2024	$	217
2025	25




Total	$	242

Leases

Lessee


Remainder of 2024	$	1,023
2025	349
2026	116
2027	110
2028 and thereafter	107
Total minimum lease payments	$	1,705

Less amount representing interest	$	(96)
Present value of net minimum operating lease payments	$	1,609
Less current installments of obligation under current-operating lease liabilities	$	1,211
Obligations under long-term operating lease liabilities, excluding current installments	$	398

Weighted-average remaining lease term - operating leases (years)	2.00
Weighted-average discount rate - operating leases	5.50		%

Lessor

The future undiscounted cash flows from these leases as of March 31, 2024 are:


Remainder of 2024	$	2,989
2025	2,150
2026	1,188
2027	658
2028	230
2029	9
Total undiscounted cash flows	$	7,224

Present value of lease payments	$	6,553
Difference between undiscounted cash flows and discounted cash flows	$	671

Lease revenue recognized was $125 for the three months ended March 31, 2024, respectively, in service sales in the consolidated statements of operations.

As of March 31, 2024, minimum future lease payments to be recognized on the operating leases are as follows:


Remainder of 2024	$	217
2025	25




Total	$	242

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on recurring basis

The following tables present financial assets and liabilities at March 31, 2024 and December 31, 2023 for which the Company measures fair value on a recurring basis, by level, within the fair value hierarchy:


March 31, 2024	Total		Level 1		Level 2		Level 3		Valuation Technique
Assets
Money market mutual funds	$	55,196	$	55,196	$	—	$	—	(a)


December 31, 2023	Total		Level 1		Level 2		Level 3		Valuation Technique
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.

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from External Customer [Line Items]
Total net sales	$ 29,267	$ 34,143
Mobile Connectivity \| Service
Revenue from External Customer [Line Items]
Total net sales	25,038	28,740
Mobile Connectivity \| Product
Revenue from External Customer [Line Items]
Total net sales	$ 4,229	$ 5,403

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Recently Issued Accounting Standards and Accounting Standards Not yet Adopted	3 Months Ended
	Mar. 31, 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.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Name Accounting Standards Codification
-Section 65
-Paragraph 2
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480530/250-10-S99-6

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 250
-Publisher FASB
-URI https://asc.fasb.org//250/tableOfContent

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(1)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (d)(2)
-SubTopic 20
-Topic 310
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481925/310-20-65-2

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net (loss) income	$ (3,163)	$ 367
Adjustments to reconcile net loss to net cash used in operating activities:
Provision for credit losses	54	280
Depreciation and amortization	3,247	3,461
Deferred income taxes	36	1
Loss on disposals of fixed assets	683	146
Compensation expense related to stock-based awards and employee stock purchase plan	522	296
Unrealized currency translation loss (gain)	241	(1)
Changes in operating assets and liabilities:
Accounts receivable	(355)	776
Inventories	(44)	(1,155)
Prepaid expenses and other current assets	100	(111)
Other non-current assets	328	312
Accounts payable	2,184	(15,077)
Deferred revenue	400	460
Accrued compensation, product warranty and other	(5,025)	3,466
Net cash used in operating activities	(792)	(6,779)
Cash flows from investing activities:
Capital expenditures	(2,399)	(2,103)
Cash paid for acquisition of intangible asset	(10)	(12)
Purchases of marketable securities	(720)	(16,010)
Maturities and sales of marketable securities	4,000	15,422
Net cash provided by (used in) investing activities	871	(2,703)
Cash flows from financing activities:
Proceeds from stock options exercised and employee stock purchase plan	96	1,022
Purchase of treasury stock	0	(239)
Payment of finance lease	0	(22)
Net cash provided by financing activities	96	761
Effect of exchange rate changes on cash and cash equivalents	(28)	40
Net increase (decrease) in cash and cash equivalents	147	(8,681)
Cash and cash equivalents at beginning of period	11,294	21,056
Cash and cash equivalents at end of period	11,441	12,375
Supplemental disclosure of non-cash investing and financing activities:
Changes in accrued other and accounts payable related to property and equipment additions	$ 5	$ 119

Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

The following table summarizes net sales from contracts with customers for the three months ended March 31, 2024 and 2023:


	Three Months Ended
	March 31,
		2024		2023
Service - over time		$	25,038	$	28,740
Product - point in time		4,229		5,403



Total net sales		$	29,267	$	34,143

Leases - Future Minimum Operating Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 1,023
2025	349
2026	116
2027	110
2028 and thereafter	107
Total minimum lease payments	1,705
Less amount representing interest	(96)
Present value of net minimum operating lease payments	1,609
Less current installments of obligation under current-operating lease liabilities	1,211	$ 786
Obligations under long-term operating lease liabilities, excluding current installments	$ 398	$ 289
Weighted-average remaining lease term - operating leases (years)	2 years
Weighted-average discount rate - operating leases	5.50%

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 11,441	$ 11,294
Marketable securities	55,196	58,477
Accounts receivable, net of allowance for credit losses of $1,138 and $1,168 as of March 31, 2024 and December 31, 2023, respectively	25,965	25,670
Inventories	19,089	19,046
Prepaid expenses and other current assets	4,224	4,331
Total current assets	115,915	118,818
Property and equipment, net	46,230	47,680
Intangible assets, net	1,105	1,194
Right of use assets	1,621	1,068
Other non-current assets	3,270	3,618
Deferred income tax asset	221	256
Total assets	168,362	172,634
Current liabilities:
Accounts payable	6,945	4,780
Accrued airtime	1,105	5,508
Accrued compensation and employee-related expenses	4,567	4,466
Accrued loss on future firm purchase commitments	3,569	3,569
Accrued other	1,912	2,588
Accrued product warranty costs	726	828
Deferred revenue	2,167	1,774
Current operating lease liability	1,211	786
Liability for uncertain tax positions	693	673
Total current liabilities	22,895	24,972
Long-term operating lease liability	398	289
Deferred income tax liability	2	1
Total liabilities	23,295	25,262
Commitments and contingencies (Notes 2, 10, and 15)
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; 21,205,364 and 21,066,899 shares issued at March 31, 2024 and December 31, 2023, respectively; and 19,749,255 and 19,610,790 shares outstanding at March 31, 2024 and December 31, 2023, respectively	212	211
Additional paid-in capital	165,768	165,140
Accumulated deficit	(4,867)	(1,704)
Accumulated other comprehensive loss	(3,956)	(4,185)
Total stockholders equity before treasury stock adjustment	157,157	159,462
Less: treasury stock at cost, common stock, 1,456,109 and 1,456,109 shares as of March 31, 2024 and December 31, 2023, respectively.	(12,090)	(12,090)
Total stockholders’ equity	145,067	147,372
Total liabilities and stockholders’ equity	$ 168,362	$ 172,634

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Sales:
Net sales	$ 29,267	$ 34,143
Costs and expenses:
Research and development	3,038	2,565
Sales, marketing and support	5,384	5,708
General and administrative	5,291	4,650
Total costs and expenses	33,065	34,312
Loss from operations	(3,798)	(169)
Interest income	911	778
Other expense, net	(198)	(224)
(Loss) income before income tax expense	(3,085)	385
Income tax expense	78	18
Net (loss) income	$ (3,163)	$ 367
Net (loss) income per common share
Basic (in dollars per share)	$ (0.16)	$ 0.02
Diluted (in dollars per share)	$ (0.16)	$ 0.02
Weighted average number of common shares outstanding:
Basic (in shares)	19,286	18,882
Diluted (in shares)	19,286	19,035
Service
Sales:
Net sales	$ 25,038	$ 28,740
Costs and expenses:
Cost of product and service sales	14,044	16,076
Product
Sales:
Net sales	4,229	5,403
Costs and expenses:
Cost of product and service sales	$ 5,308	$ 5,313

Intangible Assets - Intangible Assets Changes in Carrying Amount (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Finite-lived Intangible Assets [Roll Forward]
Beginning balance	$ 1,194
Amortization expense	(100)
Intangible assets acquired in asset acquisition	10
Foreign currency translation adjustment	1
Ending balance	$ 1,105

Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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 three months ended March 31, 2024 are as follows:


	Amounts
Balance at December 31, 2023	$	1,194
Amortization expense	(100)
Intangible assets acquired in asset acquisition	10

Foreign currency translation adjustment	1
Balance at March 31, 2024	$	1,105

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 March 31, 2024 and December 31, 2023, respectively:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
March 31, 2024
Subscriber relationships	$	21	$	2	$	19
Distribution rights	1,250		164		1,086


Intellectual property	2,284		2,284		—

	$	3,555	$	2,450	$	1,105
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 $100 and $93 for the three months ended March 31, 2024 and 2023, respectively. Amortization expense was categorized as general and administrative expense.

As of March 31, 2024, the total weighted average remaining useful lives of the definite-lived intangible assets was 3.0.

Estimated future amortization expense for intangible assets recorded by the Company at March 31, 2024 is as follows:


Years ending December 31,	Amortization Expense
2024	$	301
2025	402
2026	402
Total amortization expense	$	1,105

Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		120 Months Ended
	Jan. 31, 2017	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2026
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired in asset acquisition		$ 10
Amortization expense		$ 100
Weighted average remaining useful lives		3 years
General and administrative
Finite-Lived Intangible Assets [Line Items]
Amortization expense		$ 100	$ 93
Kognitive Networks \| Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, useful lives		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

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 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 months ended March 31, 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. 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 losses, which are comprised of both realized and unrealized foreign currency exchange gains and losses, in its accompanying consolidated statements of operations of $(21) and $(54) for the three months ended March 31, 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.

Inventories (Tables)

3 Months Ended

Mar. 31, 2024

Inventory Disclosure [Abstract]

Components of inventories

Components of inventories consist of the following:


	March 31, 2024		December 31, 2023
Raw materials	$	11,547	$	11,352
Work in process	3,310		2,617
Finished goods	4,232		5,077
	$	19,089	$	19,046

Fair Value Measurements

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

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.


March 31, 2024	Total		Level 1		Level 2		Level 3		Valuation Technique
Assets
Money market mutual funds	$	55,196	$	55,196	$	—	$	—	(a)


December 31, 2023	Total		Level 1		Level 2		Level 3		Valuation Technique
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 no impairment of the Company's non-financial assets noted during the three months ended March 31, 2024 or 2023. The Company does not have any liabilities that are recorded at fair value on a non-recurring basis.

Marketable Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Marketable Securities [Abstract]
Interest income, money market deposits	$ 720	$ 588

Leases - Future Minimum Lease Payments Receivable (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 217
2025	25
Total	$ 242

Product Warranty - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Product Warranty (Textual) [Abstract]
Accrued product warranty costs	$ 726	$ 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

Stockholder's Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended
	Jun. 08, 2022	Mar. 31, 2024	Mar. 31, 2023	Jun. 07, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment		$ 522	$ 296
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in shares authorized (in shares)	1,280
Shares authorized (in shares)	6,080			4,800
Unrecognized compensation expense		$ 1,918
Weighted-average period of recognition		2 years 8 months 4 days
Shares issued (in shares)		0
Stock options granted (in shares)		266,000	317,000
Stock options expired (in shares)		14,000
Stock options outstanding (in shares)		1,482,000
Stock options outstanding, weighted average exercise price (in USD per share)		$ 8.75
Stock options exercisable (in shares)		641,000
Exercisable stock options, weighted average exercise price (in USD per share)		$ 9.86
Stock Options \| ESPP Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment		$ 517	$ 284
Employee Stock \| ESPP Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment		$ 5	$ 12
Percentage of Company's common stock share price		85.00%
Stock options issued ESPP (in shares)		24,000	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense		$ 2,399
Weighted-average period of recognition		2 years 7 months 24 days
Restricted stock (in shares)		122,000
Restricted stock, weighted average price (in USD per share)		$ 5.03
Restricted stock award, forfeitures, less than (in shares)		8,000
Restricted stock vested (in shares)		66,000
Restricted stock surrendered (in shares)		0
Unvested outstanding options (in shares)		0
Performance-Based or Market-Based Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested outstanding options (in shares)		0

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of finite-lived intangible assets

The changes in the carrying amount of intangible assets during the three months ended March 31, 2024 are as follows:


	Amounts
Balance at December 31, 2023	$	1,194
Amortization expense	(100)
Intangible assets acquired in asset acquisition	10

Foreign currency translation adjustment	1
Balance at March 31, 2024	$	1,105

Acquired intangible assets are subject to amortization. The following table summarizes acquired intangible assets at March 31, 2024 and December 31, 2023, respectively:


	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
March 31, 2024
Subscriber relationships	$	21	$	2	$	19
Distribution rights	1,250		164		1,086


Intellectual property	2,284		2,284		—

	$	3,555	$	2,450	$	1,105
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 March 31, 2024 is as follows:


Years ending December 31,	Amortization Expense
2024	$	301
2025	402
2026	402
Total amortization expense	$	1,105

Stockholder's Equity (Tables)

3 Months Ended

Mar. 31, 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 three months ended March 31, 2024 and 2023 are as follows:



	Three Months Ended March 31,
	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


	Three Months Ended March 31,
		2024		2023
Cost of service sales		$	7	$	4
Cost of product sales		9		7
Research and development		89		88
Sales, marketing and support		71		38
General and administrative		346		159
		$	522	$	296

Schedule of accumulated other comprehensive income (loss)

The balances for the three months ended March 31, 2024 and 2023 are as follows:



	Foreign Currency Translation		Unrealized (Loss) Gain on Available for Sale Marketable Securities		Total Accumulated Other Comprehensive Loss
Balance, December 31, 2023	$	(4,185)	$	—	$	(4,185)
Other comprehensive income	229		—		229
Net other comprehensive income	229		—		229
Balance, March 31, 2024	$	(3,956)	$	—	$	(3,956)



	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 income	66		13		79

Net other comprehensive income	66		13		79
Balance, March 31, 2023	$	(4,032)	$	1	$	(4,031)

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation	$ 3,147	$ 3,368

Stockholder's Equity - Weighted Average Assumptions (Details) - Stock Options	3 Months Ended
	Mar. 31, 2024	Mar. 31, 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	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Property and Equipment

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment, net, as of March 31, 2024 and December 31, 2023 consist of the following:


	March 31, 2024		December 31, 2023
Land	$	2,833	$	2,833
Building and improvements	18,839		18,839
Leasehold improvements	442		445
Machinery and equipment	6,001		5,989
Revenue-generating assets	60,425		60,984
Office and computer equipment	14,931		14,213
Motor vehicles	31		31
	103,502		103,334
Less accumulated depreciation	(57,272)		(55,654)
	$	46,230	$	47,680

Depreciation expense was $3,147 and $3,368 for the three months ended March 31, 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 March 31, 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.

Description of Business (Details)	Mar. 31, 2024 country
Property, Plant and Equipment [Line Items]
Number of countries in which entity operates	150
Revenue-generating assets
Property, Plant and Equipment [Line Items]
Leased assets, useful life	5 years

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease expense	$ 353	$ 452
Short-term lease costs	19	25
Net investment in lease, current	3,284
Net investment in lease, noncurrent	3,269
Sales-type lease, interest income	129	$ 168
Lessor, operating lease, term of contract			3 years
Lessor, operating lease, gross costs	1,861
Lessor, operating lease, accumulated depreciation	$ 975
Lessor, operating lease, useful life	5 years
Depreciation expense	$ 93
Lease revenue	$ 125
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax
Minimum
Lessee, Lease, Description [Line Items]
Sales-type leases, term of contracts	3 years
Maximum
Lessee, Lease, Description [Line Items]
Sales-type leases, term of contracts	5 years

Restructuring	3 Months Ended
Restructuring	Mar. 31, 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 2024. 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 will reduce its headcount by approximately 75 employees, or approximately 20% of its total workforce as of the time the Company announced the restructuring. Approximately one-half of the employee terminations have been completed, and the remaining terminations are expected to be completed by the end of the second quarter of 2024. Approximately $2.2 million of severance charges were incurred in the three months ended March 31, 2024. The Company expects to incur aggregate severance charges for this restructuring of approximately $3.3 million, consisting of approximately $3.0 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.

Stockholder's Equity - Schedule of AOCL (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

AOCI Attributable to Parent [Roll Forward]

Beginning balance

$ 147,372

$ 158,438

Other comprehensive income

229

Net other comprehensive income

^[1]

229

Ending balance

145,067

159,951

Foreign Currency Translation

AOCI Attributable to Parent [Roll Forward]

Beginning balance

(4,185)

(4,098)

Other comprehensive income

229

Net other comprehensive income

229

Ending balance

(3,956)

(4,032)

Unrealized (Loss) Gain on Available for Sale Marketable Securities

AOCI Attributable to Parent [Roll Forward]

Beginning balance

(12)

Other comprehensive income

Net other comprehensive income

Ending balance

Total Accumulated Other Comprehensive Loss

AOCI Attributable to Parent [Roll Forward]

Beginning balance

(4,185)

(4,110)

Net other comprehensive income

229

Ending balance

$ (3,956)

$ (4,031)

[1]	Tax impact was nominal for all periods.

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-Paragraph 3
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
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-Name Accounting Standards Codification
-Section 50
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Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
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Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounting Policies [Abstract]
Foreign currency exchange gains (losses)	$ (21)	$ (54)

Description of Business	3 Months Ended
Description of Business	Mar. 31, 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 increasingly 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. 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 includes the choice of satellite-only and hybrid terminals, airtime data service, 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 five years. Since the Company is retaining ownership of the hardware, it does not accrue any warranty costs for AgilePlans hardware; however, any maintenance costs on the hardware are expensed in the period these costs are incurred. Service sales also include the distribution of commercially licensed entertainment, including news, sports, and movies to commercial customers in the maritime and hotel markets 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, and 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 2024. The Company expects to continue to facilitate customer transition to third-party hardware products compatible with its mobile satellite communications services.

Restructuring (Details) $ in Millions		3 Months Ended
Restructuring (Details) $ in Millions	Feb. 09, 2024 USD ($) employee	Mar. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated \| employee	75
Percentage of workforce reduction	20.00%
Employee terminations completed		0.50%
Severance Costs		$ 2.2
Employee Severance
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 3.3
Employee Severance, Cash Charges
Restructuring Cost and Reserve [Line Items]
Expected cost	3.0
Employee Severance, Equity Compensation Awards
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 0.3

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurements (Details) - Money market mutual funds - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 55,196	$ 58,477
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	55,196	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

Revenue from Contracts with Customers - Narrative (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenue Benchmark \| Geographic Concentration Risk \| Non-US
Disaggregation of Revenue [Line Items]
Concentration risk	72.00%	65.00%
Revenue Benchmark \| Geographic Concentration Risk \| Singapore
Disaggregation of Revenue [Line Items]
Concentration risk	22.00%	18.00%
Accounts Receivable \| Customer Concentration Risk \| Customer One
Disaggregation of Revenue [Line Items]
Concentration risk	20.00%		23.00%
Accounts Receivable, Sales-Type Leases \| Customer Concentration Risk \| Customer Two
Disaggregation of Revenue [Line Items]
Concentration risk	61.00%		62.00%
Mobile Comm Product Sales \| Revenue Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	14.00%	16.00%
VSAT Airtime Service Sales \| Revenue Benchmark \| Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk	78.00%	79.00%

Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands

Total

Common Stock

Additional Paid-in Capital

Retained Earnings

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) income

367

Other comprehensive income

^[1]

Stock-based compensation

296

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)

195,000

Exercise of stock options and issuance of restricted stock awards, net of forfeitures

1,010

$ 2

1,008

Ending balance (in shares) at Mar. 31, 2023

20,826,000

Ending balance at Mar. 31, 2023

$ 159,951

$ 208

161,779

14,085

(4,031)

$ (12,090)

Ending balance, treasury stock (in shares) at Mar. 31, 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) income

$ (3,163)

(3,163)

Other comprehensive income

229

^[1]

229

Stock-based compensation

522

Issuance of common stock under employee stock purchase plan (in shares)

24,000

Issuance of common stock under employee stock purchase plan

Exercise of stock options and issuance of restricted stock awards, net of forfeitures (in shares)

114,000

Exercise of stock options and issuance of restricted stock awards, net of forfeitures

$ 12

$ 1

Ending balance (in shares) at Mar. 31, 2024

19,749,255

21,205,000

Ending balance at Mar. 31, 2024

$ 145,067

$ 212

$ 165,768

$ (4,867)

$ (3,956)

$ (12,090)

Ending balance, treasury stock (in shares) at Mar. 31, 2024

(1,456,109)

(1,456,000)

[1]	Tax impact was nominal for all periods.

Product Warranty - Schedule of Product Warranty Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Summary of product warranty activity
Beginning balance	$ 828	$ 1,287
Charges to expense	264	44
Costs incurred	(366)	(619)
Ending balance	$ 726	$ 712

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 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 months ended March 31, 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.
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 losses, which are comprised of both realized and unrealized foreign currency exchange gains and losses, in its accompanying consolidated statements of operations of $(21) and $(54) for the three months ended March 31, 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. Assets and liabilities measured at fair value are based on the valuation techniques identified in the table below.

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	(2.50%)	4.70%
Liability for uncertain tax positions	$ 693		$ 673
Decrease in unrecognized tax benefits is reasonably possible	$ 27

Consolidated Statements of Comprehensive (Loss) Income - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Statement of Comprehensive Income [Abstract]

Net (loss) income

$ (3,163)

$ 367

Other comprehensive income, net of tax:

Unrealized gain on available-for-sale securities

Foreign currency translation adjustment

229

Other comprehensive income, net of tax

^[1]

229

Total comprehensive (loss) income

$ (2,934)

$ 446

[1]	Tax impact was nominal for all periods.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
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-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
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+ Details

Net (Loss) Income per Common Share - Narrative (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2024 shares
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,584

Marketable Securities

3 Months Ended

Mar. 31, 2024

Marketable Securities [Abstract]

Marketable Securities

Marketable securities as of March 31, 2024 and December 31, 2023 consisted of the following:


March 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Money market mutual funds	$	55,196	$	—	$	—	$	55,196

Total marketable securities designated as available-for-sale	$	55,196	$	—	$	—	$	55,196


December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
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 $720 and $588 during the three months ended March 31, 2024 and 2023, respectively.

Product Warranty

3 Months Ended

Mar. 31, 2024

Product Warranties Disclosures [Abstract]

Product Warranty

The Company’s products carry standard limited warranties that range from one to two years and vary by product. The warranty period begins on the date of retail purchase or lease by the original purchaser. The Company accrues estimated product warranty costs at the time of sale and any additional amounts are recorded when such costs are probable and can be reasonably estimated. Factors that affect the Company’s warranty liability include the number of units sold or leased, historical and anticipated rates of warranty repairs and the cost per repair. Warranty and related costs are reflected within sales, marketing and support in the accompanying consolidated statements of operations. As of March 31, 2024 and December 31, 2023, the Company had accrued product warranty costs of $726 and $828, respectively.

The following table summarizes product warranty activity during 2024 and 2023:


	Three Months Ended
	March 31,
	2024		2023
Beginning balance	$	828	$	1,287
Charges to expense	264		44
Costs incurred	(366)		(619)
Ending balance	$	726	$	712

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 11,547	$ 11,352
Work in process	3,310	2,617
Finished goods	4,232	5,077
Inventories, net	$ 19,089	$ 19,046

Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 103,502	$ 103,334
Less accumulated depreciation	(57,272)	(55,654)
Property and equipment, less accumulated depreciation	46,230	47,680
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,833	2,833
Building and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	18,839	18,839
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	442	445
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,001	5,989
Revenue-generating assets
Property, Plant and Equipment [Line Items]
Property and equipment, gross	60,425	60,984
Office and computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	14,931	14,213
Motor vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 31	$ 31

Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2024	$ 301
2025	402
2026	402
Total amortization expense	$ 1,105	$ 1,194

Net (Loss) Income per Common Share (Tables)

3 Months Ended

Mar. 31, 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
	March 31,
		2024	2023
Weighted average common shares outstanding—basic		19,286	18,882
Dilutive common shares issuable in connection with stock plans		—	153
Weighted average common shares outstanding—diluted		19,286	19,035

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Mar. 31, 2024	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Goodwill and other intangible asset impairment	$ 0	$ 0

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three months ended March 31, 2024 was (2.5)% compared with 4.7% 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 months ended March 31, 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 March 31, 2024 and December 31, 2023, the Company had reserves for uncertain tax positions of $693 and $673, respectively. There were no material changes during the three months ended March 31, 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 March 31, 2024 may decrease $27 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.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Net (Loss) Income per Common Share - Reconciliation of Basic and Diluted Weighted Average Common Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of reconciliation of basic and diluted weighted average common shares outstanding
Weighted average common shares outstanding - basic (in shares)	19,286	18,882
Dilutive common shares issuable in connection with stock plans (in shares)	0	153
Weighted average common shares outstanding - diluted (in shares)	19,286	19,035

- Definition

Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of contingently issuable shares. Contingently issuable shares are those shares that are issuable for little or no cash contingent on certain conditions being met.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 260
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
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-URI https://asc.fasb.org//1943274/2147482689/260-10-45-48

+ Details

Legal Matters	3 Months Ended
Legal Matters	Mar. 31, 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.

Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Future minimum lease payments under operating leases

Maturities of lease liabilities as of March 31, 2024 under operating leases having an initial or remaining non-cancelable term of one year or more are as follows:


Remainder of 2024	$	1,023
2025	349
2026	116
2027	110
2028 and thereafter	107
Total minimum lease payments	$	1,705

Less amount representing interest	$	(96)
Present value of net minimum operating lease payments	$	1,609
Less current installments of obligation under current-operating lease liabilities	$	1,211
Obligations under long-term operating lease liabilities, excluding current installments	$	398

Weighted-average remaining lease term - operating leases (years)	2.00
Weighted-average discount rate - operating leases	5.50		%

Sales-type lease, future undiscounted cash flows

The future undiscounted cash flows from these leases as of March 31, 2024 are:


Remainder of 2024	$	2,989
2025	2,150
2026	1,188
2027	658
2028	230
2029	9
Total undiscounted cash flows	$	7,224

Present value of lease payments	$	6,553
Difference between undiscounted cash flows and discounted cash flows	$	671

Future minimum lease payments to be received under operating leases

As of March 31, 2024, minimum future lease payments to be recognized on the operating leases are as follows:


Remainder of 2024	$	217
2025	25




Total	$	242

Net (Loss) Income per Common Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net (Loss) Income per Common Share

Basic net (loss) income 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 months ended March 31, 2024, since there was a net loss, the Company excluded 1,584 shares underlying 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
	March 31,
		2024	2023
Weighted average common shares outstanding—basic		19,286	18,882
Dilutive common shares issuable in connection with stock plans		—	153
Weighted average common shares outstanding—diluted		19,286	19,035

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 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		19,716,221
Entity Central Index Key	0001007587
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31

Intangible Assets - Goodwill and Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 3,555	$ 3,545
Accumulated Amortization	2,450	2,351
Net Carrying Value	1,105	1,194
Subscriber relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21	11
Accumulated Amortization	2	1
Net Carrying Value	19	10
Distribution rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,250	1,250
Accumulated Amortization	164	66
Net Carrying Value	1,086	1,184
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,284	2,284
Accumulated Amortization	2,284	2,284
Net Carrying Value	$ 0	$ 0

Leases - Sales-type Lease Future Undiscounted Cash Flows (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 2,989
2025	2,150
2026	1,188
2027	658
2028	230
2029	9
Total undiscounted cash flows	7,224
Present value of lease payments	6,553
Difference between undiscounted cash flows and discounted cash flows	$ 671