Company did not provide specific financial guidance for the current or future periods in the press release
Overview
Maritime connectivity provider's Q2 revenue rose 27% yr/yr, driven by service and airtime growth
Q2 net income fell to $0.2 mln from $0.9 mln a year earlier
Company says results reflect LEO service growth, offset by lower VSAT and TracVision sales
Key details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.01
Q2 Adjusted EBITDA
Miss
$3 mln
$3.59 mln (1 Analyst)
Q2 Operating Expenses
$10.40 mln
Result drivers
LEO service sales - Substantial increase in LEO service sales driven by more Starlink and OneWeb subscribers
VSAT decline - Substantial decrease in VSAT service sales due to fewer VSAT subscribers
Product mix shift - Higher Starlink and OneWeb product sales offset declines in TracVision and VSAT Broadband sales, impacted by competition from low-cost alternatives
KVHI•
