In Q4 2023, KVH Industries reported a 13% revenue decline to $31.5M due to inventory write-downs and reduced demand for hardware products.
KVH Industries reported a 13% revenue decline to $31.5M in Q4 2023 from $36M in 2022, due to inventory write-downs and excess purchase obligations related to reduced demand for hardware products. The company incurred a net loss of $12.2M or $0.63 per share in Q4 2023, compared to a net income of $0.8M in Q4 2022. KVH's CEO, Brent Bruun, anticipates 2024 revenue of $125-135M and adjusted EBITDA of $11-17M.
March 15, 2024
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