KVH Industries (KVHI) Q3 FY2026 earnings: revenue $38 million, up 35.1% on the year

KVH Industries Inc. (KVHI) reported revenue of $38 million for Q3 FY2026, the quarter ended 30 September 2026, up 35.1% on the same quarter a year earlier. Net income was -$601,000, and diluted earnings per share $-0.03. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$38 million

+35.1% on the year · +14.0% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-3.2%

-26.8% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$601,000

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.03

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 narrowed.

Revenue grew 35% year over year: Revenue was $38.4 million, up 35% from the third quarter of 2025 and 14% from the second quarter of 2026. Growth came from recurring service revenue and LEO terminal sales.
LEO reached 58% of service revenue: LEO share of service revenue was 58%, up from 51% in the prior quarter and 39% a year earlier. Management cited LEO growth and continued customer migration from VSAT.
Net loss narrowed to $0.6 million: Net loss was $0.6 million, or $0.03 per share, against $6.9 million, or $0.36 per share, a year earlier. Both periods include inventory write-downs.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	38.4	33.7	28.5	+14.0%	+35.1%
Cost of revenue	30.0	23.4	26.5	+28.1%	+13.0%
Gross profit	8.5	10.3	1.9	-18.0%	+342.8%
Gross margin	22.0%	30.6%	6.7%
Research and development	0.7	0.8	1.0	-11.4%	-26.4%
Operating income	-1.2	-0.1	-7.6
Operating margin	-3.2%	-0.2%	-26.8%
Interest expense	0.0	0.0	0.0
Pre-tax income	-0.6	0.4	-6.9
Income tax	-0.0	0.2	0.0
Effective tax rate	n/a	55.5%	n/a
Net income	-0.6	0.2	-6.9
Net margin	-1.6%	0.5%	-24.4%
Diluted EPS	-$0.03	$0.01	-$0.36

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	4.8	1.9	9.9	+158.0%	-51.1%
Capital expenditure	1.5	1.2	1.5	+26.4%	+0.6%
Free cash flow	3.3	0.7	8.4	+394.0%	-60.4%
Free cash flow margin	8.6%	2.0%	29.5%
Cash from investing	-1.2	-1.5	7.1
Cash from financing	-10.7	-1.8	-0.1
Depreciation and amortisation	2.2	2.3	2.6	-5.4%	-16.8%
Share-based compensation	0.3	0.4	0.4	-20.9%	-11.2%
Buybacks	10.7	2.3	0.1	+361.6%	+9,147.4%
Diluted shares, weighted	18m	20m	19m	-7.2%	-5.7%
Shares outstanding at period end	18m	19m	20m	-5.8%	-7.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	119	130	131	-8.4%	-8.8%
Debt	0.0	0.0	0.0
Operating lease liabilities	3.8	3.9	4.0	-1.7%	-5.5%
Other liabilities	18.3	16.7	15.2	+9.9%	+20.6%
Total liabilities and equity	142	151	150	-6.2%	-5.8%
Fixed assets	20.3	21.0	22.3	-3.5%	-8.9%
Goodwill	0.7	0.7	n/a	0.0%
Intangible assets	3.7	4.0	0.5	-6.3%	+589.6%
Cash and equivalents	50.7	57.7	72.8	-12.2%	-30.4%
Receivables	29.6	28.7	24.3	+3.2%	+21.7%
Inventory	8.9	11.9	13.4	-24.7%	-33.4%
Other assets	27.7	27.0	16.9	+2.4%	+63.2%
Total assets	142	151	150	-6.2%	-5.8%

Questions

What was KVH Industries' revenue in Q3 FY2026?

KVH Industries (KVHI) reported revenue of $38 million for Q3 FY2026, the quarter ended 30 September 2026, up 35.1% on the same quarter a year earlier.

How much did KVH Industries earn in Q3 FY2026?

Net loss for Q3 FY2026 was $601,000, and the diluted loss per share $0.03.

When did KVH Industries report Q3 FY2026 results?

KVH Industries filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022 †	Q2 FY2022 †	Q3 FY2022 †	Q4 FY2022	Q1 FY2023 †	Q2 FY2023 †	Q3 FY2023 †	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025 †	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	n/a	33.2	34.3	35.3	36.0	34.1	33.6	33.2	31.5	29.3	28.7	29.0	26.9	25.4	26.6	28.5	30.5	32.3	33.7	38.4
Cost of revenue	29.5	20.3	20.4	22.1	23.4	21.4	21.8	20.7	30.6	19.4	19.8	19.7	19.8	18.0	17.5	26.5	21.0	22.8	23.4	30.0
Gross profit	n/a	12.8	13.9	13.1	12.6	12.8	11.8	12.4	0.8	9.9	8.9	9.3	7.1	7.4	9.1	1.9	9.5	9.6	10.3	8.5
Gross margin	n/a	39%	41%	37%	35%	37%	35%	37%	3%	34%	31%	32%	26%	29%	34%	7%	31%	30%	31%	22%
R&D	4.4	3.0	2.6	2.7	2.0	2.6	2.4	2.4	2.0	3.0	2.3	1.4	1.7	1.2	0.9	1.0	0.4	0.7	0.8	0.7
Operating income	-5.3	-4.2	-1.0	-1.0	0.6	-0.2	0.2	-5.2	-12.2	-3.8	-2.9	-2.0	-3.2	-2.2	-0.4	-7.6	-0.9	-0.1	-0.1	-1.2
Operating margin	n/a	-13%	-3%	-3%	2%	-0%	1%	-16%	-39%	-13%	-10%	-7%	-12%	-9%	-1%	-27%	-3%	-0%	-0%	-3%
Interest expense	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	n/a	n/a	0.0	n/a	0.0	0.0	0.0	0.0	-0.0	0.0	0.0
Pre-tax income	-4.1	-3.9	0.0	-0.0	0.5	0.4	0.8	-4.3	-12.0	-3.1	-2.4	-1.1	-4.0	-1.7	1.0	-6.9	0.1	0.7	0.4	-0.6
Tax rate	n/a	n/a	511%	n/a	-19%	5%	6%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	10%	n/a	-513%	18%	55%	n/a
Net income	-4.1	-4.7	-1.5	29.5	0.8	0.4	0.8	-4.4	-12.2	-3.2	-2.4	-1.2	-4.3	-1.7	0.9	-6.9	0.3	0.6	0.2	-0.6
Net margin	n/a	-14%	-4%	84%	2%	1%	2%	-13%	-39%	-11%	-8%	-4%	-16%	-7%	3%	-24%	1%	2%	0%	-2%
Diluted EPS	-$0.22	-$0.25	-$0.08	$1.58	$0.04	$0.02	$0.04	-$0.23	-$0.63	-$0.16	-$0.12	-$0.06	-$0.22	-$0.09	$0.05	-$0.36	$0.02	$0.03	$0.01	-$0.03
Operating cash flow	1.0	-3.5	0.3	1.8	10.4	-6.8	3.6	0.5	5.2	-0.8	-14.7	1.9	0.4	-1.3	5.1	9.9	3.4	-8.3	1.9	4.8
Capital expenditure	3.5	4.4	3.6	3.0	3.4	2.1	2.6	2.4	3.5	2.4	2.7	1.5	0.8	1.1	2.3	1.5	2.3	2.6	1.2	1.5
Free cash flow	-2.5	-7.9	-3.4	-1.2	7.0	-8.9	1.0	-1.9	1.7	-3.2	-17.4	0.4	-0.4	-2.4	2.7	8.4	1.1	-10.8	0.7	3.3
Buybacks	0.0	0.0	0.0	0.0	0.0	0.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.2	1.1	0.1	0.4	0.2	2.3	10.7
Shares outstanding	20m	19m	19m	19m	20m	19m	20m	20m	21m	20m	20m	20m	21m	20m	20m	20m	20m	19m	19m	18m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.