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What is the revenue and EPS growth rate for Kvh Industries year over year?

What factors drove the changes in Kvh Industries's revenue and profit?

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What were the key takeaways from Kvh Industries's earnings call?

Did Kvh Industries beat or miss consensus estimates last quarter?

What is Kvh Industries's gross profit margin?

- **Revenue Growth**: Q3 service revenue up 10% QoQ, driven by LEO airtime and 1,600 terminals shipped.
- **Subscriber Surge**: Vessel count up 26% YTD, with Starlink and hybrid installations leading expansion.
- **Strategic Moves**: $7.8M facility sale and 800-vessel acquisition to expand land-based services.
- **Financial Resilience**: Flat OpEx, $1.4M EBITDA, and $72.8M cash despite GEO margin challenges.
- **LEO Momentum**: Record shipments and negotiations for additional Starlink data commitments.

**【Management Opening Remarks】**
- Anthony Pike provided standard disclaimers and introduced the earnings release, emphasizing forward-looking statements and non-GAAP measures.

**【CEO Commentary】**
- **Service Revenue Growth**: Q3 service revenue reached $25.4M, up 10% QoQ and 4% YoY, driven by LEO airtime demand.
- **Subscriber Expansion**: Total subscribing vessels rose 11% QoQ to ~9,000, up 26% YTD, with Starlink and OneWeb hybrid installations leading growth.
- **Terminal Shipments**: 1,600 terminals shipped (new quarterly record), reflecting strong demand for LEO services.
- **Strategic Acquisitions**: Acquired 800 vessels in Asia Pacific, adding 500 net subscribers and expanding land-based services.
- **Starlink Data Pool**: Negotiating additional data commitments to sustain margins and meet subscriber needs.
- **Asset Optimization**: Sold Middletown, RI facility for $7.8M, reducing CapEx and improving cash flow.

**【CFO Financial Commentary】**
- **Airtime Margins**: GEO gross margin declined 3.9% QoQ to 31.9% due to declining revenue against fixed costs; LEO margins remained stable.
- **Product Gross Profit**: Negative $6.8M (vs +$0.3M prior quarter) due to $5.5M VSAT inventory write-down and price reductions.
- **Cost Management**: Flat OpEx at $9.5M, adjusted EBITDA of $1.4M, and cash balance up 27% to $72.8M.
- **CapEx Reduction**: $1.6M Q3 vs $2.4M prior quarter, reflecting disciplined spending.

**【Q&A Highlights】**
- **LEO Demand**: Growth spread across regions, with competitive wins and new installs driven by price/performance of Starlink.
- **Starlink Pricing**: Margins impacted by price reductions; negotiating credits for inventory on hand.
- **OneWeb vs Starlink**: Customers opt for diversity, with hybrid installations combining LEO and VSAT services.
- **Coast Guard Impact**: Minimal Q4 2025 impact as contract expired in Sep '24.
- **CommBox Adoption**: 36% QoQ revenue growth, with cybersecurity features well-received.
- **AWS Entry**: Anticipated market entry; testing needed to assess competitiveness.
- **Acquisition Impact**: 500 net vessels to be added in Q4, expanding land-based SATCOM services.
- **Geopolitical Trends**: No significant impact from tariffs or geopolitical tensions on maritime demand.

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