KVH Industries launches new cybersecurity service for maritime

MIDDLETOWN, R.I. - KVH Industries, Inc. (NASDAQ:KVHI), a $100 million market cap company trading at a relatively low revenue multiple according to InvestingPro data, announced today the launch of CommBox Edge Secure Suite, a new cybersecurity service designed to protect maritime communications and operations from cyber threats. The service, which is available now, integrates with KVH’s existing CommBox Edge communications gateway appliances and virtual machine options.

The Secure Suite aims to provide real-time detection, prevention, and reporting of cybersecurity threats, enhancing the security of vessels and fleets. It employs advanced technology such as Cisco Talos for threat detection and Cisco Snort for real-time traffic analysis and response. The service also includes an Intrusion Prevention System (IPS), quarantine capabilities, and a cloud-based Threat Dashboard for comprehensive monitoring. With a strong current ratio of 7.72 and more cash than debt on its balance sheet, KVH maintains a solid financial position to support its product development initiatives.

Chad Impey, KVH’s senior vice president of global sales, emphasized the importance of cybersecurity for modern commercial vessels, stating that the Secure Suite is designed for easy deployment while offering advanced protection and reporting features.

The cybersecurity solution is part of KVH’s broader network management tools, which cater to maritime IT professionals managing various wide area network options. The CommBox Edge platform supports multiple onboard local area networks, secure remote access, VPN links, and deep packet inspection.

KVH Industries, a global leader in maritime and mobile connectivity, continues to innovate in the field of network security for the maritime industry. The addition of CommBox Edge Secure Suite to their product lineup underscores the company’s commitment to providing comprehensive connectivity and security solutions for its customers. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights and a comprehensive Pro Research Report available for subscribers looking to dive deeper into KVH’s investment potential.

This announcement is based on a press release statement from KVH Industries, Inc. and does not contain any promotional content. The factual information provided reflects the company’s latest cybersecurity offering for the maritime sector.

In other recent news, KVH Industries reported its fourth-quarter 2024 earnings, which showed a larger-than-expected loss and a decrease in revenue. The company posted an earnings per share (EPS) of -$0.22, significantly missing the forecasted -$0.04, and reported revenue of $26.9 million, falling short of the $28.1 million expectation. This marks a 4.5% year-over-year decline in revenue. KVH Industries’ adjusted EBITDA for the quarter was $500,000, with an ending cash balance of $50.6 million, reflecting an increase of $800,000 from the quarter’s start.

In terms of future guidance, KVH Industries projects 2025 revenue between $115 million and $125 million, with adjusted EBITDA guidance ranging from $9 million to $15 million. The company is focusing on new revenue sources, including STARLINK, to counteract the decline in GEO airtime revenue. The mobile connectivity market’s transition, particularly with the rise of LEO services, presents both challenges and opportunities for KVH Industries. CEO Brent Bruin emphasized the importance of network diversity and the company’s strategic initiatives to strengthen its market position.

Additionally, KVH Industries has introduced new products, such as the Combox Edge and Tracnet Coastal cellular Wi-Fi system, to enhance its service offerings. These developments are part of the company’s broader strategy to adapt to changing market dynamics and improve its financial performance.

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