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Middletown, RI – Brent Bruun, CEO of KVH Industries Inc. (NASDAQ:KVHI), has reported a sale of company stock valued at approximately $16,075, according to a recent filing with the Securities and Exchange Commission. The transaction, which took place on March 11, involved the sale of 3,141 shares at an average price of $5.118 per share. The company, with a market capitalization of $101.6 million, currently trades near its 52-week low, with InvestingPro data showing the stock has declined 9.3% year-to-date.
The sale was conducted to cover taxes owed on a restricted stock award that partially vested on March 7, 2025. Following the transaction, Bruun retains direct ownership of 179,958 shares of KVH Industries. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 7.72 and holds more cash than debt on its balance sheet. Subscribers can access 8 additional key insights about KVHI’s financial health and market position.
KVH Industries, a provider of radio and TV broadcasting and communications equipment, is headquartered in Middletown, Rhode Island. The company’s comprehensive analysis, including detailed Fair Value estimates and growth projections, is available in the InvestingPro Research Report, part of the platform’s coverage of over 1,400 US stocks.
In other recent news, KVH Industries reported its fourth quarter 2024 financial results, revealing a larger-than-expected loss and a decline in revenue. The company posted an earnings per share (EPS) of -$0.22, significantly missing the forecasted -$0.04. Revenue for the quarter was reported at $26.9 million, falling short of the expected $28.1 million, marking a 4.5% decrease from the same period last year. KVH Industries is undergoing a transition from solely VSAT services to multi-orbit, multi-channel solutions, including STARLINK, to counter declining margins and revenue shortfalls. The company shipped over 1,000 STARLINK units in the fourth quarter, with more than 2,300 active maritime terminals by year-end, making it the fastest-growing product line in KVH’s history. Despite the challenges, 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 also focusing on cost reduction initiatives, which resulted in a 10% decrease in recurring operating expenses for the full year. In related developments, KVH has integrated new products like the CommBox Edge, which is gaining traction, and OneWeb services to enhance its market position.
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